What’s the difference between an investment and an expense? The difference is simple: one will start paying you back, and the other is a drain on your resources. A Bottom-Line Distinction Viewing all spending as investments instead of expenses will help guide better decisions. Say you need a new copier. Do you need it to […]
The concept of Key Performance Indicators (KPIs) has been around for a long time. Investopedia defines KPIs as a set of quantifiable measures that a company or industry uses to gauge or compare performance in terms of meeting their strategic and operational goals. KPIs are tools that organizations use to define, measure, monitor and track […]
CEOs make a lot of decisions, announce them, and then expect everyone to be on board and execute flawlessly. If only it were that simple. We often find our decisions are not implemented properly, flawlessly, or on time, and we can’t figure out why. Sometimes, it’s because we are too low-key. CEOs need to start […]
Successful companies populate their teams with A-players. To do otherwise is a disservice to the company and its stakeholders. Unfortunately, most A-players aren’t actively seeking new employment. They are probably well compensated and content in their current positions – which is why it’s difficult to find them. The role of the CEO is to effectively […]
If being a CEO were easy, everybody would be one. CEOs are expected to know what to do – and to do it without falling down. There is a reason few in business rise to this position. It is your responsibility as CEO to ensure you’re fostering your company’s growth and value – but the […]
When President Lincoln was choosing his Cabinet, he turned to his three fiercest Republican rivals – people against whom he’d run! – and top Democrats. Lincoln virtually assured that every meeting would erupt in conflict. And that’s exactly what he wanted. Author Doris Kearns Goodwin writes, “His Cabinet sessions were fiery affairs, but they provided […]
Ever wonder why some CEOs succeed so easily while others seem to struggle just to keep their company going? The answer is simpler than you think. Really great CEOs focus their efforts on three key factors: Clarity, Accountability, and KPIs. Clarity is one of the most violated principles of running an organization. People in an organization […]
If a basketball coach stocks his bench with 7-footers, he’s not giving his team an advantage. He’s leveling the playing field, or the playing court, in this case. Business has never been a game for the timid and it’s only getting tougher. Everyone’s getting more competitive; markets are becoming commoditized; the players are bigger, stronger, […]
What do Bill Gates, Steve Jobs, Ursula Burns, Tony Adams, and Andrea Jung have in common? All are successful CEOs. All are heads of profitable, respected companies. –And believe it or not, they all got their start as interns. If a business is questioning whether or not interns add value, consider this: would you have […]
Running a business is like rowing a boat upstream. Once you stop rowing, you start to slip backwards. When the company is growing, owners have to be rowing furiously to get the next deal, to sign the next contract, to hire the next A player. If they let go of their focus on the future, […]
Let’s say you have a sales manager who says to one of his people: “You’ve got to make 25 calls a day to be successful. You have to turn out 16 proposals and make 15 client calls per week to hit your quota.” That manager cares about the tasks, not the outcome, and he wants […]
When I was in my 20s, I became a sales manager. Everyone who worked for me was far older – one guy was in his 60s. Which doesn’t seem as old now as it did then.
Letting an employee go, no matter what the reason, is never an enjoyable task. The truth is – and leaders should never say this to someone who is losing his or her job – that it’s tough on the boss. This is one of the heaviest burdens a leader has to shoulder.
Can you teach old dogs new tricks? Yes and no. You heard it here first! In any organization, there are entrenched employees. After working in the same job for years, they have what I call “institutional memory.” How can you tell? They say things like, “This is how we’ve always done it here.” “This is […]
“Thinking it’s often just the next step in their career, many CEO neophytes don’t realize that it’s a unique position with challenges they haven’t faced before.” Joel Trammell, Forbes
Rebranding can help companies recover from crisis, keep up with changing consumer tastes and needs, remain relevant, or embrace a “new and improved” identity. When done well, rebranding sends a powerful message to consumers, reenergizes the workforce, and effects positive change.
What’s the difference between an investment and an expense? If you’re not sure, ask your spouse. He or she will tell you that, no; a 75-inch plasma screen TV is not an investment, no matter how good the Super Bowl will look. In business, ideally, you don’t have expenses. Just good investments. The difference is […]
Why do people wake up in the morning, fix their coffee, and go to their jobs? Maybe they’re passionate about their work; maybe they believe in what they’re doing; maybe they’re learning and developing before moving on to new opportunities. But likely, they have to pay their mortgage, put their kids through college, and save […]
When I was an Army officer, there were three things that you had to make sure you never screwed up for your soldiers: their pay, their food, and their mail. Why? It was, as they say, the very least you could do for them. As an employer, what do you absolutely have to get right […]
There’s an old joke that a camel is a horse designed by committee. As much as we say we value collaboration, the group still gets bad press. In the New York Times, for instance, Susan Cain talks about the “Rise of New Groupthink,” and the dearth of creativity in group conditions. She suggests that the […]