Archive for the ‘Blog’ Category

A Favorite Quotation

“The only thing necessary for the triumph of evil is that good men do nothing”, E. Burke

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Avoid Competing on Price Alone

A McKinsey study of S&P1500 companies reveals that “A strategy based on cutting prices in order to increase sales volume is generally doomed to failure in almost any market or industry”. (“The Power of Pricing” by Michael V. Marn, McKinsey Quarterly, 2003) You would have to increase […]

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How Inventors Can Overcome Technical Roadblocks

Hyper-specialization in every area of science has multiplied the level of complexity and increased the difficulty of researching potential solutions and solving technical problems. That complexity and specificity of new materials, processes and equipment, though, also expands the pool of potential solutions, particularly as new science increasingly […]

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Customer Mapping

Another nice tool for small businesses is a customer map. These can either be a physical map on the wall or a digital map. A large, physical wall map is useful because you can purchase a customized map with your location in the middle of a 2-3 […]

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A “Profit Tune-Up” Tool Example

A reader asked me for an example of a practical tool that I use in implementing a “profit tune-up”. Here you go!: Wall Calendar: I encourage clients to buy a 12 month paper wall calendar with big daily boxes. Calculate your weekly break-even sales volume number and […]

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How to Do a “Profits Tune-Up”

I’m dumbfounded and disappointed every day at owners of troubled businesses who would rather go out of business than check their ego at the door and call a business coach. The best athletes, musicians and corporate execs have coaches, mentors and peer groups that they talk with…which […]

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Are You Running a “Hobby/Vanity” Business?

C’mon people! Even in 2015, I have walked into small businesses where owners don’t use bookkeeping software! I asked a potential client for his three financial statements. He called me because he had no cash flow and was weeks away from going out of business. He brought […]

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No Problem

I’m going to add this screed to the others complaining about restaurant and fast food servers replying to my “Thank you” with…”No problem”. Why does it annoy me so, like attempting to seat me too near to the restrooms? It’s such a trivial thing; not really worth […]

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To Make More Money, Stop Watching Profits

Entrepreneurs are taught to be laser-focused on the bottom line.  Profit, after all, is the scorecard we’re measured against.  In professional football the final score is the outcome of actions on the field: yards gained, QB sacks, field goals kicked.  The best coaches focus upon perfecting these […]

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Why I Like the Pareto Principle (80/20 Rule -“Vital Few vs Trivial Many”)

A big part of my business is training entrepreneurs to focus upon the right things.  Most successful business owners are devoted users of TO-DO lists.  And the really successful ones prioritize their TO-DO lists using the 80/20 Rule.  Google: “Pareto Principle” for details; the principle declares that […]

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