At the start of the year, everybody ought to have a BHAG. For the uninitiated, that’s a Big, Hairy, Audacious Goal or bee-hag. And why does everyone need a BHAG? Well, if you’re one of those rare businesses that blew the doors off last year and all you want to do is let the good
“In your business decisions, risk only money . . . never people or relationships.”
Business is all about relationships, isn’t it? We need strong relationships with: Employees. We set policies and give direction, but it’s our employees who do the work and get stuff done. We will get their best, most energetic, most creative efforts only if we’ve nurtured the right relationships with them. Vendors. If we’ve taken the
How does your leadership style make people feel?
Bruna Martinuzzi is a consultant who specializes in teaching leadership and presentation skills. She is also the author of two books, and while I have not read either book, I have read an article she published recently with the rather long-winded title, “If your leadership aura could use some polishing, try these 7 tips for
What is your employee disaster plan?
As we’ve said here before, there are two keys to developing an outstanding workforce. First, you have to get the right people on the bus. That is, you have to hire people who have the right attitudes, behaviors, and values to fit well within your organization. As the bus driver, you can’t let just anybody
“Profits Aren’t Everything. They’re the Only Thing.”
Legendary coach Vince Lombardi admonishes us, “Winning isn’t the most important thing. It’s the only thing.” Now George Cloutier, CEO of American Management Services, has taken a page from Lombardi’s playbook with his own book titled, “Profits Aren’t Everything, They’re the Only Thing.” As hard-headed business people, it’s pretty difficult for us to argue with
Thinking of starting a family business? Better think twice.
In a recent edition of the Daily Herald’s Business Ledger, the focus was on family businesses. More specifically, the focus was on succession planning so that the business could remain in the family and continue to benefit family members for many generations. One of the stories discussed Klein Tools, a business that has been in
“Everyone has a number.”
While monthly financial statements are essential to effectively managing your business, they are historical documents. They tell you what’s already happened when it’s too late to do anything about it. So in addition to monthly financial statements, you also need measurements that are predictive in nature to serve as early warning signs that something may
“Accountability breeds response-ability.”
In our last posting, we talked about execution . . . about the need for meticulous planning, thorough and detailed communication of our plans, and after-the-fact review to determine what went right and what didn’t in an effort to continuously improve our execution skills and abilities. We probably should have preceded that discussion with one
Tear down those information silos!
In a recent Time magazine article entitled “We’ve All Got GM Problems,” columnist Rana Foroohar talks about General Motors’ recall problems. She says the problems came to a head because the people and departments involved “literally weren’t communicating with one another.” She chalks up those problems to “a systemic problem in most big corporations as
Does fear of failure motivate or paralyze you?
There was an interesting article published recently in the Chicago Tribune. In it, a member of Chicago’s iconic business clan, the Pritzkers, talked about failure and the role it has played in shaping his life. While we have discussed failure here in the past, it’s a subject worth revisiting from time to time, if only
