Business Accelerants Blog
Which do you do? Do you make waves in your industry or region? Or do you surf the waves that others have made? . . . Waves occur in every area of business from Human Resources to Operations, from Quality to Sales, from Accounting to Legal. Be careful in your own strategy that you choose wisely. What looks like a good wave that will take you to shore may turn out to be one that breaks up and swamps you after only a few meters.
Almost everything we do has some amount of risk associated with it. There’s the classic “I could get hit by a car crossing the street” for instance. We drive cars at alarming speeds risking our lives. If we have a family, we may (I hope) have life insurance, having assessed the risk of dying and
We were all mislead by pollsters in 2016 (US election and English Brexit). There’s something terribly wrong with who is being asked and how they are being asked. Yet, I remain a firm believer in asking people what they think about a variety of things. If you don’t ask something of someone, you’ll be relying on only your own intuition. Here are some thoughts on questioning people.
If you ever want to transition from the business-world to the After-Business-Life™, it’s important to create the right balance in your life and in your books. Your balance sheet in business is not the same as your personal net worth. Balance the two sides of a beam to make sure you don’t have all your financial eggs in one basket.
Most everyone cares about the fuel economy of their vehicle, whether you are an environmentally friendly person driving the latest battery-powered vehicle, or a driver of a powerful pickup truck. Recently, the president unilaterally approved the Paris Agreement that will put us on a path to reduce CO2 and GreenHouse Gas emissions. The two are closely related, as emissions from transportation are a significant factor that is controllable by technology and human behavior. To a large extent, this involves raising the bar on new production of vehicles and new power plants, requiring them to be cleaner. Alas, we often overlook another approach that applies to everything in business.
It takes a combination of logic, emotion, and action to be a successful leader. Having just one of the three will cause serious problems for you. Even having two of the three will leave you vulnerable in many ways. Whether you call it being a resilient person, or having GRIT (Growth, Resilience, Instinct, and Tenacity as Paul Stoltz does in his book by that title), a leader needs to make informed decisions and must inspire people to take the appropriate actions. . . . let’s look at the three items. Consider the person that does not think and does not have an emotional appreciation for the results of his actions. That person, might be called . . .
If not in your wallet, what’s in your financial portfolio? Is all of your net worth tied up in the unknown value of your business? I hate to break this to you, but your business is probably not as valuable as you think it is. We all seem to know that “beauty is in the eye of the beholder.” The corollary to that is “business value is in the pocketbook of the buyer.”
Some days, it can seem that your industry and your individual business is under attack from all sides. The government keeps changing the rules. Suppliers start making demands rather than trying to serve. Customers are complaining and going to competitors. Your own people are disgruntled. The weather is unexpectedly
“Beauty is in the eye of the beholder” is an aphorism many of us know and understand. A corollary to this is “The value of your business is in the pocketbook of the buyer.” For some time now, my son and I have been looking at buying a business. We’ve looked at over 45 businesses to some extent and learned an awful lot in the process.
For your business, don’t just “own it.” Seek real wealth of Time, Friends, and Money. Be a leader of your business!