Posts by Global Resources

“Not Now!”

“As soon as I finish this, we’ll address that issue.”

“I’ll do that tomorrow.”

I haven’t decided yet.”

“That can wait.”

“I’ll get to it when I can.”

“If I only had more time…”

Have you ever caught yourself using one of these excuses? Or heard your boss use them with you or a colleague? If you answered yes, you are not alone. We are all guilty to varying degrees of this common, but costly practice of putting things off. Everyone procrastinates at one time or another. When a particular task seems unpleasant or undesirable, we tend to put it …

Get A Piece Of The Government Business Pie

Previously, I wrote about various ways to leverage the US Small Business Administration and its many services and funding options. In this third and final article about the SBA, I want to focus on the programs that are in place for minorities.

On its Web site, the SBA states that, “The SBA is a strong advocate of minority and special audiences. Whether you’re looking for information on programs and services in support of women entrepreneurs, veteran’s business development, Native Americans, special minority programs including HUBZone, Small Disadvantaged Business Certification and 8(a) business development, you’ll find it here. Additionally, we’ve devoted …

Your Top Resource – Your Employees!

A business owner must identify and solve issues regarding the competition for customers and clients on a daily basis. As a business owner, are you overlooking the competition for one of your top resources—your own employees?

Today’s business owners and managers have a mindset that is much different from those of previous generations. Simply put, they expect more from their employers—especially when it comes to compensation and work culture. Employers who want to find and keep qualified, motivated, top-performing employees need to re-evaluate their compensation packages.

Salary is obviously important, but it is far from the end of the analysis. …

12 Ways To Increase Company Value

have combined what I personally consider to be the top 12 ways a business owner can increase the value of their most valuable asset—their business. A wide array of tips are outlined, so choose one or employ them all. No matter what your reasons for desiring the increase, application of these tips is not only great for your company’s value…its just good business sense.

Diversify Your Revenue and Profits: Maintain multiple profit centers and keep a diversified product/service base to diversify your profits. This is also known as analyzing your company’s revenue sources for risk. A concentration of revenue in …

Boots Are Made For Walking…Your Employees Shouldn’t Be

How to lower turnover to increase your profits.

In order to increase your profits, you must know the “costs” of turnover. Unfortunately, I can almost guarantee that your QuickBooks, Peachtree or any other accounting system does not readily produce this information. The cost of turnover is substantially higher than your recruiting costs. In addition to the recruiting and interviewing costs, you have the training time, lost productivity associated with a new employee, etc. Depending upon the type of position being replaced, it is estimated that turnover will cost you 65 percent to several hundred percent of the beginning annual compensation. …

You Can’t Handle The Truth

What you tell your CPA can be used against you.

Can you confide in your CPA? Are your conversations about your business protected? In reality, the law affords those conversations about as much protection as an umbrella in a hurricane. There is a privilege for federal tax preparers that applies to memos, opinions or other documents pertaining to your actual or potential tax liability, but the privilege does not apply to any work papers used to prepare the tax return. Your CPA may also be forced to reveal his knowledge in matters involving state, local or any jurisdiction other than …

Corporate Philanthropy

Include corporate philanthropy as part of your corporate strategy. Both the company and the community win.

It has been proven time and time again companies that practice Corporate Social Responsibility (CSR) gain tremendously. Gain in the community, gain with employees, gain on the bottom line, and gain in their whole value proposition.

Businesses today operate in an interdependent environment with multiple stakeholders that include owners, customers, staff and the community, who all require that their needs and concerns be addressed. As such, the rules of engagement in business are changing and there is no doubt that CSR has a major …

Truth and Consequences

Certain business myths have a profound impact on the decisions business owners make every day, yet some of them are only partially true and others are not true at all. Why then are we so susceptible to them? This is primarily due to our propensity to generalize.

The only way to be successful in business is to be a low-cost leader. No. Conventional business wisdom has identified numerous approaches resulting in comparable levels of business success, however the most commonly recognized are (1) creating products with highly desirable features (that are reliable and user friendly), (2) targeting niche markets, (3) …

Whose Ox Gets Gored

A brief look at choices in the M&A process

Understand the basic motivations parties bring to the transaction.

The first step in proper deal planning and structuring is to understand the basic motivations parties bring to a particular transaction. From the sell side, the primary goal is to maximize the after tax proceeds (or as my colleague would say, “money in fist”). To meet this goal, a transaction needs to be structured so that its proceeds are subject to taxation at the lowest rate possible. On the other hand, buyers are looking for ways to maximize their return on investment. …

The Value Of “It”

A balance sheet doesn’t tell an owner the company’s true worth, or fair market value. The difference between a company’s book value and its fair market value is its intangible value.

A study conducted by business consultants Richard Boulton, Barry Libert and Steve Samek compared the market values and book values of 3,500 U.S. companies over a 20-year period. Their findings indicate that in 1978, a company’s book value was 95 percent of its market value; however, in 1998, book value accounted for a mere 28 percent of a company’s market value. An unrelated study conducted by the Brookings Institute …