Category: Management/Ownership

Can You Grow a Company With Only “A” Players?

LeBron James: hate him or love him, you have to admit that he’s a talented basketball player. When he started out his career in Cleveland, he was a promising player. Unfortunately, his gifts were too much for the team since there wasn’t a support system to cultivate his “A” player qualities. After 7 years, James

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Impact of FIT on Sustainable Growth Rate

The Institute of Fiscal Studies authored a study on tax systems in the UK called “Tax by Design: Mirrlees Review.” They concluded that “in the long-run, the tax system should be judged in part on its impact on the sustainable growth rate of the economy… viewing efficiency in a dynamic as well as static sense.” As we

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Margin Compression

Ever heard the term “margin compression”?  Put simply, margin compression occurs when the costs to make a product or deliver a service rise faster than the sales price of the product or service.  Hence, putting pressure on profit margins. Causes of Margin Compression There may be many causes of margin compression… Increased competition Internal production

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Doing More With Less – Improving Productivity

Whether in response to low oil prices or simply in an effort to run leaner, companies across the globe are cutting jobs.  Last week, Chevron announced that it plans to lay off roughly 10% of its workforce, roughly 6000 to 7000 workers, in 2016 to deal with the plunge in crude prices.  Deutsche Bank recently

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Dealing with Employee Fraud

Recently, I was visiting with a potential client who had been the victim of fraud.  Talking with him brought back unpleasant memories of the first time I discovered that one of my client’s employees had committed fraud against the company.  Despite the fact that it happened a long time ago, all of the emotions associated with the

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Do Job Titles Matter?

Many of you will recognize this video clip from the classic comedy Cheers where Woody, intending to ask for a raise, gets tricked into accepting (actually demanding) a job title instead. Do Job Titles Matter? So, do job titles matter?  Under what circumstances would a sane person accept a title in lieu of a raise? 

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5 Ways to Prepare for Seasonality

Seasonality can be brutal.  If your business is like ours, summertime is pretty slow.  The phones don’t ring, employees and clients are on vacation, nobody is available for appointments and not much happens in general.  Even if summertime is busy in your industry, chances are that there are other times during the year that business

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Dealing with People Problems

A wise man once said… “Life is simple, people complicate it.” The same wisdom holds true for business.  If you take a look at the biggest headaches that you have to deal with on a daily basis, chances are good that the majority of them have to do with people. Dealing with People Problems So

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Hiring Process is Getting Longer

A recent article in the Wall Street Journal reports that employers are taking longer to pull the trigger on hiring decisions than in years past. According to the article: the average job in 2014 sat vacant for 27.3 days before filled; this is compared to only 15.3 days five years ago the average interview process

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10 Ways to Improve Productivity

The new year is well under way and many of us are working with new, leaner budgets.  When we were developing these plans at the end of 2019, it seemed completely realistic that we could cut costs while maintaining our current sales volume.  Now that the holiday buzz has worn off and harsh reality has

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5 Stages of Business Grief

Do companies experience stages of business grief? No college psychology class would be complete without a discussion of the 5 stages of grief outlined by Elisabeth Kubler-Ross in her 1969 book On Death and Dying. The Stages of Business Grief For those of you who skipped (or slept through) the lecture, the 5 stages are:

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The 5 Stages of Business Grief

In her 1969 book On Death and Dying, Elisabeth Kubler-Ross outlines the five stages of grief individuals experience when faced with catastrophic personal loss. The five stages are as follows: Denial Anger Bargaining Depression Acceptance The 5 Stages of Business Grief In one form or another, businesses too experience these five stages when faced with

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