So you've decided to write your own business plan because you know the value that the experience will give you. With the books and software that are out there today you can probably sit down and complete the plan in a day or so, right? Plug in the numbers, add the notes, write the whole narrative (story), print it and get it out to the banks or investors. If you can complete a plan in a day or so you are either an expert, that has already done...more
An ongoing series of articles exploring the seven critical areas that can indicate a partnership is in trouble.COMMUNICATION BREAKDOWNThe "Seven Cs" are the danger signs that indicate your business partnership, or any partnership for that matter, is in trouble.First, and most important, in my view, is the issue of Communication Breakdown.Although my list of Seven C's refers to the danger signs that partnerships are in trouble, the fact is that...more
A series of articles exploring the seven critical areas that can indicate a partnership is in trouble.Competitive, Not Complementary ActionJames Carville and Mary Matlin are public relations spokespeople for the Democratic and Republican parties, respectively. They are each articulate, sharp and feisty. Sparks fly when they debate in favor of their parties, so much so that they seem like arch enemies who couldn't possibly exchange a friendly word. I remember the shock reaction I had (how many years ago was it?) hearing that they were getting married. I pictured a contentious loud fighting household.Recently I saw the two of them on television talking about their private lives. One never knows for sure the truth about public figures or anyone else for that matter, but if taken at face value, they have a solid marriage, children and good family life. They displayed mellowness, respect and total togetherness. It was obvious that the party competitiveness was left outside of the house and what was brought inside was love, goal sharing, and family first.Businesses run by partners are very much like marriages. If the partners are in competition with each other they are creating a lot of...more
A series of articles exploring the seven critical areas that can indicate a partnership is in trouble.Conflict Becoming the Norm - Part 1Dr. Dean Ornish, noted cardiologist, says the greatest cause of disease is the stress that comes from conflict. Conflict is bad for your health, your personal life and definitely bad for your business.When...more
A series of articles exploring the seven critical areas that can indicate a partnership is in trouble.Conflict Becoming the Norm - Part 2In a previous article, I wrote about how unresolved conflict can create havoc in your business and can often end in a failed partnership. Today, I share with you a story about a pair of clients I recently worked...more
A series of articles exploring the seven critical areas that can indicate a partnership is in trouble.The 4th C: CUMULATIVE MONEY PROBLEMSConflicts over money are very high on the list of reasons that 70% of business partnerships fail. I'm not referring necessarily to lack of money. The damage to business partnerships stem from the fact that each of us have different attitudes about money and therefore handle it in different ways.The most hopeful scenario is that differences have been discussed openly at the outset of the partnership and are continually a topic reviewed with level heads.Most often that is not the case. Here is a sample list of the types of problems businesses run into around money where partners can have very opposing views: financial risk taking collections investment of profits family involvement on acquisitions under-capitalization/ involving outside investors perceived inequality in remuneration of each partner based on each one's view of each other's work and responsibility hiring and salaries of employees investments in outside experts to train, coach, market, etc.The money issues in business that accumulate over the course of time are based on many factors,...more
A series of articles exploring the seven critical areas that can indicate a partnership is in trouble.The 5th C: Control IssuesWhen control is in the picture it is a lose/lose proposition.First, it is an illusion that anyone can control a person or a...more
A series of articles exploring the seven critical areas that can indicate a partnership is in trouble.The 6th C: Changing VisionIn order for a business to be a success the vision and mission must be reflected in all aspects of the structure, the...more
Having a great resume is the first critical step in a successful job search. Unfortunately, most people don't know the best ways to get that resume noticed. In today's job market, where you are competing with hundreds of other resumes, knowing the...more
Office politics! It's just another way of saying: "The employees are not getting along!"When so much of a company's success depends on the employees' ability to work together as a cohesive team, it is critical that people understand and appreciate...more
The most important aspect of a successful business is developing the correct mindset toward your customers. And this is not the over used phrase The customer is always right. Actually the correct mindset we are referring to here is to always think in...more
Ok, let's face it, everybody hates high credit card rates, and they drain hard earned money out of your wallet. As a valued consumer, it is apparent that you learn how to negotiate to get the absolute best rate that you possibly can. The good news...more