Sadly, when a business fails, it is often not because it was founded on a bad idea. It’s because it simply runs out of money. Even if the business is profitable, it can still be cash-starved out of business. How does that happen? Several ways. If the business is a brand new startup, the entrepreneur
“Planning is bringing the future into the present so that you can do something about it now.”
For most small business owners, the business is their single largest asset and the one they are counting upon to fund their retirement. So wouldn’t it make sense for them to plan when and how they expect to exit the business? You would think so, but many don’t . . . at least not in
“No organization can make good decisions without conflict.”
“No organization can make good decisions without conflict.” “If everyone is thinking alike, someone’s not thinking.” We tend to veer away from conflict. It can make us feel uncomfortable, or even downright shaken. It can inspire anger, anxiety, hurt feelings, and a lot of other negative outcomes. So we avoid it. We try to play
“Today’s decision makers are reassessing every spending and investment decision they make. They are looking for ways to reduce delay or cancel purchases and investment decisions, and they are seeking certainty that desired results will be achieved as planned.”
At a recent business meeting, one of the participants complained, “I’ve never seen so much indecision. Our customers just won’t pull the trigger. They get right up to the point of buying then back away, putting off the buying decision until next month or next quarter or longer.” That drew a lot of “me too”
“If there is no change, there’s no need to manage.”
What would happen in your business if one day your managers just didn’t show up? What would their subordinates do? Well, they would probably just do what they did yesterday. And if the managers still didn’t show up the following day, the subordinates would just continue doing what they had done all along. This could
Running a company is easy when you don’t know how, but very difficult when you do.
Running a company is easy when you don’t know how, but very difficult when you do. Below are some activities that, when performed rigorously and consistently, tend to separate strong small business operators from those who are struggling. It is not intended to be a comprehensive list, and the list is not in any particular
“There is no point in doing well that which you should not be doing at all.”
It’s not unusual. We just continue to do certain things in the business because we always have done them. Or we continue to do them because it would be a pain in the neck to train someone else to do them. Either way, we end up doing things that are not the highest and best
“A good leader inspires other people with confidence in the leader. A great leader inspires them with confidence in themselves.”
Over the years, I’ve been on a lot of “plant tours.” Usually, our guide is the owner or CEO or plant manager, and the focus is usually on the systems and equipment being used in each step of the manufacturing process. But awhile ago, I was on a tour that was fundamentally different in
“People can’t see it your way until you first see it their way.”
Listening is an essential skill whether you’re at work or at home, whether you’re the CEO or an hourly worker. Yet it’s a skill that many of us either never acquired, or have allowed to lapse. In a conversation, do you find yourself crafting your next statement of brilliant insight rather than listening to
“A goal without a plan is just a wish.”
I have talked about planning here before, but I continue to run into small business owners who seemingly just don’t get it. They don’t plan because they don’t see the value in it. So I continue to hammer away at it in hopes that the lights will come on and they will finally “get it.”
