The 80/20 Principle argues that a small number of causes typically drive the majority of results—roughly 20% of inputs produce 80% of outcomes. Richard Koch takes this familiar idea (the Pareto Principle) and shows how intentionally applying it can dramatically improve performance, profitability, and quality of life. For small business owners, this book is a Read more about Book Review: The 80/20 Principle[…]
I believe that one of the most important roles of the small business executive is “Scorekeeper”. You are responsible for making sure that the score is being kept in your business and that your team members are seeing the numbers they need to see. My experience is that many small business owners see monthly financial Read more about My Top Five Financial Numbers[…]
Onboarding: “The process by which a new employee learns the ropes and gets settled.” Waterboarding: “An interrogation technique in which water is forced into a detainee’s mouth and nose so as to induce the sensation of drowning.” Finding and retaining top talent has never been harder for small businesses. Research indicates that, in most Read more about Are You Onboarding or Waterboarding Your New Employees?[…]
(You are welcome to sing along) On the first day of Entrepreneurial Bliss-mas Small Business Matters gave to me; A Huge New Order from my best customer to start the new year (with a large upfront deposit) On the second day of Entrepreneurial Bliss-mas Small Business Matters gave to me; 2 Great New Salespeople Read more about The Twelve Days of Entrepreneurial Bliss-mas[…]
This time of year, I am prone to reflect on the gifts of life for which I am most thankful. I hope that sharing my list might prompt you to share your own list with those you care about the most. I am thankful for the clients I work with who challenge me in ways Read more about It’s the Season of Thanksgiving[…]
As a university alumnus, how often do you hear from your alma mater? I receive some type of communication from my alma mater almost weekly. It includes timely updates from the Tulane University president, fundraising solicitations from the development office, and frequent invitations to attend various university alumni events, both in Atlanta and New Orleans. Read more about How Are You Treating Your Employee Alumni?[…]
The following article was shared with me by Vistage speaker Dr. Balaji Krishnamurphy. It is a masterpiece on organizational culture. In a world of a “Great Resignation” and a pending economic recession, managing a strong company culture is quite necessary. Inherent in that strategy is to be very intentional about what type of culture you Read more about Is Your Company a Pool or a Stream?[…]
My SBM Mastermind group just finished reading this book, and I had forgotten how well it helps small business owners start thinking about an exit. I wrote this book review in February 2009.) Remember how much time and thought went into starting your business? For most small business owners, it takes at least six months Read more about Book Review: Dance in the End Zone[…]
Do you remember the game show “The Price is Right”? Contestants were asked to guess the prices of various retail products. The closer their guesses were to the actual sales prices, the better their chances of winning prizes. It was a fun game to play and watch. I like to simulate this game in the SBM Read more about How Much is Your Hot Sauce?[…]
Pricing is often one of the most overlooked — yet most powerful — levers in a small business. In Fearless Pricing, author and pricing expert Casey Brown delivers a clear, actionable guide for business owners who want to stop leaving money on the table and start pricing with confidence. Why This Book Matters to Small Read more about Book Review: Fearless Pricing[…]