In a recent interview, I was struggling to find a term to describe someone who had worked their entire career on building up a strong foundation of knowledge, contacts, successes, and failures; someone who had learned a bunch about being successful in business the right way, who knew how to build and foster mutually beneficial relationships, and who was humble enough to still hunger to le
As businesses grow their operations to new states, countries, and continents, they have to grapple with the question of running their business as a centralized operation or as decentralized business units. Centralized businesses grow large, but their hierarchy grows too, usually into a complex web of political, silo-ed, unproductive bureaucracy.
My 6-year old told me yesterday that she is having so many “issues” right now. I was quite concerned but luckily these “issues” only included an arm that was hurting and a runny nose. Whether it’s your 6-year old, spouse, boyfriend, girlfriend, or business, having “issues” in life is never a good thing.
A few weeks ago I was trying to coordinate a transaction between two companies. Each company needed buy-off from their respective CPA’s on issues relating to tax. After several attempts to clear a time on both schedules I realized why I was running into difficulty: the deadline for tax filers who filed an extension was October 15th (17th this year). There
My 4 year old boy just started playing soccer. While it's very entertaining to watch, it reminded me of a horribly dysfunctional business that lacks the financial reporting and leadership all businesses require to survive and thrive.
Most Popular Blog Posts of 2010
There seems to be a lot of buzz around businesses having a dashboard. Even Intuit has jumped on board and tried to provide this functionality in QuickBooks with its Snapshot Center. For those unfamiliar with this concept, a dashboard is one place a business owner should be able to look to see all of the key metrics and performance indicators of their business. To learn more about this concept, please visit my blog post: The Key Business Metrics Every Entrepreneur Must Know.
Although the phrase "working capital" is common in business and finance circles, it is often very misunderstood. Here's an example: if I asked you if you would rather own a business with a lot of working capital instead of a little working capital, what would be your answer? Most people would prefer the business with a lot of working capital. But the answer is not that simple, and, in many cases, smaller working capital actually indicates better management and cash flow generation. I will take a few par