As much as we want to be everything to everyone; life and business just do not work that way. Companies that succeed know they need to hone their focus on their vision. They translate this vision into a powerful mission statement. They realize that mission statements are more than pithy phrases or something to fill [...]
Most startups fail for one of the following reasons:
Poor Management Acumen
Many entrepreneurs start relatively early and consequently do not have a lot of management experience under their belt. Often they are technical experts and lack business acumen, and either cannot or will not bring in the resources necessary for success. This one is key, because [...]
Delegate or dump? Sometimes its hard to distinguish the two. Often managers delegate the work they like the least as opposed to strategically assigning it. In doing so, they’ve dumped the problems on others and walked away – its human nature after all, to avoid doing things we dislike. But risks exist with simply passing [...]
Looking over the SBA’s report on the “State of Entrepreneurism in the United States” it occurred to me that their criteria may not necessarily be what an entrepreneur considers as their information is funneled. However taking a step back and gaining a broader view of the options available can make a difference. I thought this [...]
Everywhere you look, signs are bombarding you with information that you must interpret, determine if it applies to you. Does it apply now, or in the future? Are you required to act, or is the transfer of knowledge all that is required? I could draw a process map, because sometimes life gets complicated.
Behaviors need [...]
Project management is a discipline that offers a lot of value outside of managing “projects”. Many managers fail to see its advantages, claiming “I don’t have a project, I manage a department and its not finite”, or “project management is all about process and its too time consuming and resource intensive”.
To the first point, I [...]
Many managers I’ve worked with reside at either end of the spectrum: They are either hands-off or the micromanager. The best managers I know understand that they cannot be locked into a single position, and rather move up and down the scale as the situation requires. They know for example, that when a team is [...]
When preparing for outside financing, its important to understand that investors are investing as much in the team as the product. So it behoves the team to understand where they stand in that dynamic. Too often the focus is on the product.
I prepared this model, that I use with the companies I work with as [...]
The Income Statement, Balance Sheet and Cash Flow Statement are the trifecta of a company’s financial reports and should be reviewed frequently with key employees who impact the results. Everyone should be familiar with these reports and should not rely on the CFO to interpret. I know it seems like yet more reports to pile [...]
With the economy starting to grow once again, companies that want to position themselves for success need to have an edge on the competition. To do so, they need be plan for growth.
Some ideas to consider:
Invest in New Technology – Have the new technology in place to streamline process and add customers with little incremental [...]
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