You’re a business owner. You have money, experience, connections and influence. People want you … or, at least, your support and assistance. One way is as a board director — maybe for a local charity, bank, or your industry association. Should you accept the invitation? Before you decide, answer the following questions:
Professional Development
The 4-Hour Workweek
Unsettling. That’s the word that first comes to mind when I ponder the message in The 4-Hour Workweek.
Yes, it’s also interesting. And exciting, in a way. But unsettling because it makes me question everything.
Why do I work so hard? Is there a better way? Am I efficient and effective in my work?
How to Do the Business Dinner
Relationships are what our personal and work lives are built on. Dining with others provides a one-of-a-kind opportunity to develop relationships. It makes sense to make the most of each and every one. How? It’s an art. Knowledge is power.
Business Dinner
Nina Zagat has been dining with clients three days a week for 30 years. It’s her business. She owns – with her husband – Zagat Survey restaurant guides. In a recent Wall Street Journal article, she suggested ways to make the most of business lunches and dinners.
The Age of Deleveraging
By A. Gary Shilling, PhD Reviewed by David Perkins Want to know where the economy is headed? The stock market? Inflation and interest rates? Dr. Gary Shilling tells you. The only question is whether you believe him. He apparently has correctly forecast recessions and interest rate trends over the past 40 years. He’s foretold the [...]
The Business Owner Journal Accumulates Accolades
The Business Owner Journal is receiving considerable recognition for its revamped print and electronic publication for owners of small and midsize U.S. businesses.
Predict Future Economic Activity
The ability to predict future economic conditions is useful in business, business planning and investment. Turns out there’s a pretty easy, inexpensive and reliable method for doing so — at least for short-term forecasts of less than a year.
Master the Art of the Symbolic Gesture
To grow your business, you must continually entice new people to give you a try. To buy something from you. And because they don’t have actual experience with you or your products, they make their purchase decision based on signals of quality, integrity and dependability. “Symbolic gestures,” as Quy Huy and Christoph Zott call them.
How to Get Focused and Make More Money
Plan by the month, not by the year. Keep a daily log of three things: bookings, cash collections and owner withdrawals.
These are Mark LeBlanc’s suggestions. He’s a veteran of the public-speaking circuit. You know: land speaking gigs, sell books at the back of the room, do some consulting and coaching.
Know and Avoid Common Decision-Making Mistakes
To err is human, but don’t give up! You can learn to make better decisions. You have the intellect necessary to gather and objectively assess the relevant facts. Just slow down, conduct a level-headed analysis and get familiar with psychological biases that tend to derail sound decision-making for humans (so you can avoid them). Here are the common ones:
Tips for Wringing Out Cost and Improving Gross Margins
Purchase, Don’t Expedite. Time is money. Given a little time, a purchasing manager worth his/her salt should be able to wring a significant amount of cost out of any purchase. So give him/her incentive and time. Expedited orders add substantially to freight cost, and when you need it quick, your bargaining power is weak.
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