What is the Biggest Threat to the Value of your Business?

There are so many reasons a business can be derailed, lack of capital, poor execution/delivery, new technology, new competitors.  The list can go on forever.  Building value in your business takes patience, discipline, and perseverance.  It requires you to create a practice that clearly identifies the WHO, WHAT, WHEN, WHERE, HOW and most importantly the WHY surrounding your business. Understanding “Where you are going, How you will get there, and Why you are going there.” Will help you stay on track.  But you also need to build repeatable processes and systems that your employees and customers clearly understand.  In addition, you need to be acutely aware of what new products and trends are impacting or may impact your industry, or who new...

Why do so many businesses fail?

It’s a simple question.  Let’s start with the assumption there is a market for what you do and your initial capital investment is adequate (without these basics the business is doomed even before it starts)… So why do the majority of new enterprises fail? Is it bad marketing? Too little cash flow? Poor quality (product or service)? Failure to adapt to change? These are some problems that can tank a company and I am sure if we put our minds to it, we could come up with a much longer list of problems.  However, these problems are not at the root of a business’ failure, they may have caused the final death blow… but these are really symptoms to a bigger problem. I believe we can agree, that there are many technical financial,...

Effective Meetings – Three Simple Rules

Meetings are the bane of every business.  We’ve all heard the complaints – This is a waste of time. We can’t seem to stay on track or get anything done.  I’d be more productive if I didn’t have to go to all these meetings. That said, meetings (both formal and informal) are the way we communicate our business’ mission and vision, our goals, the obstacles we face and it is the way we celebrate our successes.  But how do you conduct an effective meeting? It really is not that difficult.  Follow these simple rules and you will be well on the way to more effective and efficient meetings.   Don’t Boil the Ocean: All too often managers try to cram too much into a meeting.  They attempt to cover a wide array of...

Building Value: The 5 Keys for Achieving Success

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"This quick, thorough read is designed to help any sized owner or entrepreneur improve their business and its chances for survival in today’s tough economy." – Dr. Benjamin Ola Akande, Dean of George Herbert Walker School of Business and Technology at Webster University"