25 Jan

Why Are We Managing Generations

Over the last several years a lot of people have made a lot of money telling business owners and leaders that to effectively manage the modern workforce you must manage the generations differently. Why? They claim these generations are all different, have different values, work practices, and motivators.

In the immortal words of my father…Horse pucky.

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18 Jan

Why Would Any Business Owner Not Want To Grow?

I am sometimes a bit surprised when I hear from Business Owners that they do not want to grow their business.  I can be fairly competitive, and hearing someone say that they are happy with their business at the size it is now causes me to stop and wonder.  Why would any business owner not want to grow their business?

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10 Aug

Satisfaction Drives Outcomes

Business is about outcomes.  Outcomes produce products or services, which in turn produces revenue.  Even revenue is an outcome.  Some struggle with creating outcomes.  To address this management develops incentives to drive better outcome production.  The belief by management is that the incentive will satisfy the worker who in turn, will accomplish the desired outcome.  In other words, management is taking advantage of their perception of the relationship between satisfaction and outcome; they believe that satisfaction drives outcomes.

Does this work?

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09 Feb

I Don’t Want to Plan My Exit From My Business

If you don’t want to plan your exit from your business then don’t.  It’s that simple.  However, that doesn’t mean you shouldn’t work on your business.  Work on your business to make it more productive, more efficient or as I like to say, help make it recession proof.  Being prepared is part of being successful at business.

With Baby Boomers owning most US Businesses it is understandable that the focus of many business consultants is to focus on helping them transition their businesses to others.  Why wouldn’t they, with roughly 10 trillion dollars of business involved it only makes sense.   But Baby Boomers don’t own everything, and not all Baby Boomers are thinking of retirement.  We are living longer than our parents and Grandparents so staying in the business longer also makes sense.  The youngest Baby Boomers are about 53.  They could have another 20 or 30 years of working life left if they choose.  Their businesses need to do things too.

If you don’t want to plan your exit, what should you do?

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02 Feb

Successful Life After Work Means Planning

My continuing education about business, work, and the workplace recently shared an interesting piece of data with me.  That data was only 20% of businesses that go on the market are sold.  Further, of those business owners who sold their business, 72% did not know or did not think the sale of the business will impact their lifestyle.

Think about those two points.  The average business owner has 80-90% of their personal wealth tied up in their business.  About 20% of them can take physical possession of that wealth through a sale while 80% will have to find another way.  What should each of these business owners do to improve those outcomes?  What can they do to become part of the 20% and equally important, what can be done for the remaining 80%?

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