Needless to say, business has always been highly competitive. We live in an era of increasing competition due in part to technological developments, increasing availability of information and the constant focus on cost reductions. As such, knowing your customer base is even more critical today. Although many executives think they understand their customers, the question becomes, “Do you know what…
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You may think that between your accountant and your attorney, you have all the advice you need. But outside the rigors of meeting your bank covenants, filing your tax return or meeting the terms of a contract, how well do they know your company? These specialists come from a point of view forged by their profession. But they don’t sit…
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A fellow business owner or professional has probably asked you: “Are you working in the business, or on it?” If you haven’t, let this article introduce you to that question. The idea is that if business owners don’t survey the landscape from time to time, they are sure to “be kept up at night”. Many executives are kept up at…
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“Begin with the end in mind.” Dr. Stephen R. Covey offers a great perspective for developing an effective long-term business plan. It takes time and there is plenty to consider. Your ideas and plans will evolve, and if retirement is on the horizon you may be starting to focus more on what you want from your business. One challenge many…
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Instituting positive change often involves a period of transition before that change is fully in place and part of the day-to-day routine. Your journey may be as rewarding or as difficult as your preparation. This is especially true of the new CEO or department head arriving on-scene where everyone is sure the company was doing just fine before you came…
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