JOINT VENTURES – THE TIES THAT BIND
You and a key vendor (Vendor A) conclude that if you work together to create a tailored version of a product/service, both companies will be able to make a lot more money. So you both invest the time, money, and effort to do that and it starts to pay off. You also agree that Vendor [...]
Is There Any Such Thing as a Truly Silent Partner?
To scale an incorporated career to become a genuine enterprise, business owners often seek growth funding from their relatives and friends. That makes sense because private investors often ask for evidence that the business owner has already put up his/her own money and asked his/her relatives and friends to step up. Plus the interest rate [...]
Disillusion
Disillusion. What a fascinating word. How many Baby Boomer business owners do you know (perhaps yourself?) who have become disillusioned? The recession and the long period of uncertainty that has followed. It looks like the underlying causes of the implosion of the financial industry in 2008 haven’t been addressed let alone resolved. Government officials haven’t [...]
The Secret is to Reverse the Phrase
Each week I close my peer-to-peer talk show with presidents of midsized businesses with the same message: “My wish for you is accelerated growth with sustained profitability®… and remember the secret is to reverse the phrase. First, you need to know what drives your profitability. Second, you must have a system to sustain that profitability. [...]
Play Your Memorable Marketing Melody to ME
A classic technique to help companies dramatically improve marketing and sales results is to focus on fewer more qualified prospects. Whether that list should be your TOP 100, 50, or 25 depends on the size and scope of your business, the price point of your product, and the length of the buying cycle. But it [...]
Wishful Thinking and Long Term Customer Loyalty Can Create a Risky Blind Spot
Imagine that you and your executive team have invested months and months on research. Despite the lingering tough economy, you have even hired some people to launch a complementary product/service. The new offering has the potential to expand your customer base, increase your profitability, and solidify your company’s position as an industry leader. Sounds exciting, [...]
Face the Risks of Suddenly Being Viewed as a Family Business
As specialists in the strategic needs of privately held midsized companies, we naturally interact with lots of family owned businesses. There has been more than one government study that has said that the owners of 90% of all privately held companies view their companies as “family businesses.” That’s a lot! Some owners claim they are [...]
Prevent Slipping into Reactive Management as 2012 Begins
At the risk of sounding like I am channeling my inner Jean Dixon, here are a few of my predictions for 2012: The world economy will have another significant setback in 2012 sparked by disappointments about the pool of candidates for the US Presidency, a few large scale unsettling scandals, increased unrest in the Middle [...]
2011 Was a Tougher Year for the Owners of Midsized Companies and Recent Retirees than the News Media Portrayed
Deep down, we all know that broadcast and print media have some biases. (No kidding.) During election years, some media outlets are compelled to emphasize progress being made, jobs being created, and consumers spending more around the Holidays. Following recessions with particularly long periods of uncertainty (NOW), some reporters play the role of consumer advocate [...]
What to Do About Drift, Scope Creep, Unfinished Projects & Ineffective Messaging
Don’t feel bad if your company has drifted away from its strategic plan. Tough economic times can do that. Recessions invite worried sales people to agree to whatever price they can get any prospect to accept. Uncertainty can lead product development initiatives down several paths only to end up with unfinished projects. Insecurity cues marketing [...]
