I’ll tell you what taught me to watch cash flow, always, and very carefully: the lack of it. It wasn’t two years at business school; it was a growth spurt (sales doubled) that sucked up all the cash and left me looking for a second and third mortgage to keep the business going. That’s something you don’t forget.
How to motivate employees? According to new research, messages from on high need to be more abstract and less details. And messages from immediate supervisors need to be more concrete. Here’s the summary.
I just read 7 Things Never to Tell Your Spouse About Business Finances, posted by Barry Molz on Amex OPEN forum. I like it. I like Barry, too, I’ve been on his podcast and I like his work. But his tone here makes me uncomfortable.
For several decades now I’ve been back and forth between working on and building my own business, helping others build theirs, helping people manage small business, and, occasionally, helping larger businesses understand and presumably sell to smaller businesses.
Notice the huge increase in the number of institutions offering courses on entrepreneurship. The question it asks—can schools teach entrepreneurship—isn’t one to be answered with statistics and rankings. Of course that takes a qualitative answer, sifting through what elements business schools can teach and what elements business schools don’t teach.
Back in 1993, Palo Alto Software had been mostly consulting with a stubborn insistence on software products that were not paying for themselves (yet). I was troubled with the risk and fixed cost of hiring people to help with my then-fledgling software company.
Real business strategy is mostly just focus. It’s about what you don’t do, sort of like how a marble sculpture is formed by what’s removed from the original block. Focus on what you and your business do best, what you do better and different, and then focus on a specific set of potential customers and focus again on building exactly what they want or need.
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