A Burdensome Regulation OR A Needed Protection?

“There ought to be a law against that!”

How often have we made that statement or heard others shout it out when someone does them wrong in a business transaction? Chances are pretty strong that there already is a law in place that was enacted to protect people and institutions from those same unfair or harmful actions. In the business world, these protective laws are more commonly referred to as ‘regulations’.

Nobody, however, likes to be regulated. Starting in infancy and extending through teen years and beyond, people tend to rebel against rules and regulations in deference to personal freedoms. …

Beat the Competition

We have all heard the complaint, “Competition from China is killing me” or “I can’t compete with the big box store purchasing power.”

For most business people, dealing with competition is part of their daily grind. It represents the constant battle for their customers’ dollars and patronage. Competition comes in many forms and shapes, and from a myriad of sources—sometimes from other companies selling products or services very similar to yours, other times from unexpected sources.

Most companies view their competition as another brand, product, or service. But smart leaders and organizations go broader. Competition is each and every challenge …

“I’m as mad as hell, and I’m not going to take this anymore!”

So shouted Howard Beale, the beleaguered TV anchor in the 1976 film Network, urging his TV audience to proclaim to the world their anger and dissatisfaction of current social conditions by yelling this phrase out from their windows to protest against all of the injustices cast upon them.

It was great drama. Beale’s dialogue before and after this outburst was both brilliant and prescient. It listed a litany of social and economic problems facing the country and it called for drastic changes. Grievances existed then and many of the same problems still exist today. It is this underlying anger …

The Professionals

“I know how to run my business. Why do I need you?”

After having run the business for some time, it is common for an owner to claim that they know everything about running their business, from the smallest detail to the overall structure. They’ve probably performed every task themselves at one time or another. If they can’t do something, more than likely an employee is doing it for them. Successful business owners stay focused on all of these aspects of the company and manage each of them in unison to produce the best results for the company. They’re typically …

Truth Will Out

“The Captain was sober today. He was unable to perform his duties as he rested fitfully under restraints in his cabin slipping into and out of consciousness…”

So wrote the rebellious first mate as he made the daily entry into the ship’s log. The ship’s captain who innocently had become incapacitated by illness was delirious with fever and unable to command the ship. The first mate who despised and begrudged the captain took truthful words in a manner that implied the exact opposite of the truth. He simply besmirched the captain’s character by accusing the him of being an habitual …

Building Teamwork

In sports, teamwork wins championships; stars win awards. Raw talent alone will not sustain a team to championship level. But a cohesive, harmonious, united team will. This is true in competitive sports and even more so in business. What championship teams and successful businesses each posess is an organization built on talented players, working as a single unit while executing a well designed plan. As in sports, every business, regardless of size, needs a plan of attack to achieve its goals.

Create a Culture of Teamwork Among the Employees

Building teamwork is an integral process of developing a business. Employers …

“Horror at the Harmon” How the Lack of Proper Systems Puts a Contractor at Risk And Created “The Nightmare on Las Vegas Boulevard” for MGM

 

Any construction project can result in a loss if the company does not have the proper methods, systems, controls and procedures to ensure the quality of its work. Construction companies are at much greater risk than many other small businesses because of the large financial impact that a failure in having the right systems in place can have on their liability if their failure to adhere to best practices causes a large financial loss.

We all saw how the failure to have the proper system in place at the 2017 Oscars caused Warren Beaty and Faye Dunaway to incorrectly …

Was the Reason for McDonald’s Success Because They Created a Better Hamburger or Because They Created a Better System for Their Business?

 

The fast food industry today has grown from over $6 billion in sales in 1970 to over $100 billion today in the United States. It employs over 4 million workers. And, 25 percent of the American population eats fast food on a daily basis.

While Burger King may proclaim to be the King, we all know that Ronald McDonald is no clown when it comes to wearing the crown as to who really is the king of fast food—every second of the day McDonald’s sells 17 Big Mac’s and 7 Happy Meals, and too many French fries to count!…

Why a Business Analysis Is Critical to Business Success

 

It has been said that there are only two ways to learn from mistakes: you can learn from your own mistakes or you can learn from the mistakes of others.  And, it is a lot more expensive to learn from your own mistakes!

More importantly, having an objective, third-party analysis of the business is a proven, cost-effective way to minimize one’s own mistakes in business. A business analysis not only gives the business owner an opportunity to gain valuable insight into his own business so that he can avoid making costly mistakes, but at the same time it gives …

A Change In Wage Culture

What does a business owner do when his customer service ratings plummet, when his employees’ morale drops, and when the company productivity declines? Some companies take an extremely radical course and give their employees a raise. Guess what; their strategy worked! It was recently reported that Walmart (with 1.3 million people employed in the United States) did just that.

For the first time in its long history, Walmart began experiencing a decline in sales in 2014. They had also received a damning negative stock recommendation from Wall Street analysts, who projected a steady decline in corporate profits.  Walmart, under great …