What Position Do You Need? When starting a business, the leader or a family member often “handles the books” given the sensitive nature of the information and the minimal time required for this task when a company has few transactions to process. While the leader sees this work as mostly administrative, the value of the… Read more »
This article provides a primer on the difference between cash and profit.
The word benchmarking means many things to many people. “Benchmarking” evaluates performance by measuring what companies are doing or / and the results they are getting against some predetermined standards. Companies that benchmark can identify best practices and apply them to their own business. The greatest benefit of benchmarking is its ability to introduce a… Read more »
In 2012, London Business School and Harvard Business School teamed up to study the “span of activity” of several CEOs. This is academic speak for the question, “what do business leaders do all day?” Their findings concluded that CEOs spend 1/3 of their time in meetings. No shocker there. Communication is the cornerstone of any business’s operating… Read more »
Are you missing out on thousands of dollars just by making the common operations mistakes of entrepreneurs? To find out, ask yourself these five questions: 1. Are we sacrificing the long-term benefit of management and strategy for short term profit? There is a value to prioritizing some time to “management” time in almost every environment…. Read more »
They said we were crazy to launch a small business consultancy in Vancouver when we had: No relationships No local track record No start-up capital But, we weren’t worried. After all, it was autumn 2008: It was the middle of the greatest economic meltdown in 70 years The Olympics were coming and no one would… Read more »
Outsiders have little appreciation for how difficult it is to profitably grow your business. The more time you spend in the office bringing in the next project or managing the staff, the further removed you are from wearing a tool belt in the field. This results in a gap in oversight and a greater challenge to… Read more »
Recently, at a fundraising luncheon for the Minerva Foundation, I was seated next to a woman who sold regalia. “Do you know what that is?” she asked. “Yes, of course,” the words jumping from my mouth before I had the chance to think. It sounded familiar. “What is it then?” she asked. “It has something to do with the flags ships fly that represent letters.” I smiled confidently until she clipped me with a terse, “No.”