Author: BCadmin

  • Strategic Planning – an Oxymoron?

    Strategic Planning – an Oxymoron?

    Is “strategic planning” an oxymoron? Asking that question and considering an answer gives us a clearer way to look at strategic thinking that will make our planning more effective and make our businesses more profitable. Strategic thinking involves considering the probability of future events, while planning involves detailed descriptions of actions to be taken with…

  • Why You Should be Able to Articulate Your Values

    Why You Should be Able to Articulate Your Values

    Most of us do not wear our values on our sleeves. There are many reasons for this – most of them social. Regardless of social norms, in the arena of business ownership, each of the owners of a business should be able to articulate to the other owners their personal values with respect to the…

  • The Smell of Fear

    The Smell of Fear

    What feeling do you have when you see something different in the workplace? What about encountering a new experience? What if someone suggests something that is “off the wall?” Is someone laughing when you do not know what is funny? Do you have an impulse to make fun of something that is new or different?…

  • Dynamic Planning – Like a Guided Missile

    Dynamic Planning – Like a Guided Missile

    A traditional business plan determines action to be taken to accomplish the plan goals and monitors the effect of those actions in reaching the plan goals. If the goals are not reached, the plan is revised and the process repeated. The launch of the business plan is much like the launch of a missile, a…

  • Wait for the Fork

    Wait for the Fork

    I advocate group decision-making, but am often asked: “what exactly is the role of the leader where there is a group involved?” Not understanding that leadership role can lead to humiliation and lack of credibility – not to mention bad results. By understanding the leadership role in group decision-making and waiting for the fork, you…

  • Do Your Co-owner’s Plans for the Business Include You?

    Do Your Co-owner’s Plans for the Business Include You?

    Most businesses are founded on assumptions. Founders with a common purpose initiate the business, and, upon its profitability, assume that all owners share the same goals and interests. What do you know about your co-owner’s plans for the business? Have you simply assumed that all of the other owners have the same interests and desires?…

  • Increase Personal Wealth by Prior Diligence

    Increase Personal Wealth by Prior Diligence

    Often the primary long-term goal of business ownership is to increase personal wealth to achieve financial independence. Wealth can consist of non-financial assets valued to show a high net worth. But financial independence requires liquidity. Liquidity is achieved when readily available liquid assets are held at a low risk of loss. Non-financial assets such as…

  • Flat or Pyramid Governance Structure for Effective Business Decisions?

    Flat or Pyramid Governance Structure for Effective Business Decisions?

    Governance of businesses generally consists of two structures: hierarchical (pyramid) or nonhierachical (flat). Can it be determined that one structure is more conducive to effective decision-making than the other? The hierarchical structure is the traditional legal governance structure of the corporation. That structure creates an overall executive officer (president or chief executive officer), a vice…

  • Building a Business on a Volcano

    Building a Business on a Volcano

    Most would immediately doubt the wisdom of a plan to place a building on the top of an active volcano. Yet, a majority of businesses consisting of more than one owner are built on a base that will erupt like a volcano. As with the volcano, the exact time of eruption or how much lava…