Posts Tagged ‘business values’

Misleading Financial Information

The blog posting Two Dangerous Financial Illusions looked mainly at sales and profitability and how these can often be misleading. Let’s look at some more areas where misleading financial information may present.

Overvaluation of Receivables

Whenever a company undergoes an audit (and to a lesser degree a review), there are certain items on the financial statements that warrant extra scrutiny. A main one is accounts receivable.

One common way that accounts receivable may be over-valued is when Read the rest of this entry »

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Surviving Change

Change is one of things we seem to either love or hate. Listen to some of these phrases about change. The Times They Are a-Changin (song by Bob Dylan), “Change or Die”, “The Only Thing That Is Constant Is Change.” (Quote by Heraclitus, Greek Philosopher), and “Money and success don’t change people; they merely amplify what is already there” (Quote by Will Smith). Obviously these are just a few statements about change, but they do illustrate four important things about change.

  1. Change inevitable, so embrace it (See Change or Become Irrelevant)
  2. Change is essential (see We’re Making Money – So Why Change?)
  3. Change is continuous (See Ready for Some Change?)
  4. Change test our character (See The High Price of Integrity)

Change is Inevitable

There is a humorous quote by Albert Einstein that says Read the rest of this entry »

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Diligent Financial Planning

Dictionary.com defines diligent as “constant in effort to accomplish something; attentive and persistent in doing anything“. As a working definition that is fine, but when it comes to execution there is more to it.

Negative Diligence

Throughout life we encounter people who almost seem as if they are determined to fail. However, have you ever met someone who really wanted to fail? Probably not. Yet, despite a desire to succeed Read the rest of this entry »

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Personal Values Matter

Have you ever known someone who seems to makes decisions based on what is convenient for the moment? Here is one reason that happens. In a previous blog (Why You Need a Values Statement) some of the reasons a values statement was useful for a business were discussed. In a sense this expands on that but takes it to a more personal level

Personal Values

Just as a business values statement helps determine how employees interact with each other, customers, and vendors, a personal set of values help you determine how you interact with others and even with yourself. Without a fixed set of personal values we run the risk of being like the person above who makes decisions based on the convenience of the moment. That us very inconsistent and no way to live.

Consistent Value Benefits

If you have unchanging personal values you will be Read the rest of this entry »

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It’s Not Too Late

If you sometimes wonder if it is too late to achieve you goals, your thoughts are getting in your way.

Thoughts in my Way?

Yes, if you are thinking it is too late, that thought is the first barrier you face. Who knows, maybe you won’t be successful; then again, maybe you WILL. However, if you think you are too late you are carrying around a pattern of thinking that will hold you back from Read the rest of this entry »

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What Do You Do Well?

Whether we consciously think about it or not, nobody has all the answers and skills needed to successfully run a business. In an earlier blog, The Know It All, I discussed the frustration of working with someone who is a know-it-all. Likely, we all have encountered someone like this.

We are All Unique Individual

Each person brings a unique blend of personality, skills, talents, abilities, gifts, and passions to the table. It is the responsibility of management to Read the rest of this entry »

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The Know It All

Imagine you are attending a staff meeting. Employees can barely get a word in as the manager hogs the entire time, apparently trying to impress everyone with his or her extensive knowledge. Later you are asked to attend a senior management meeting of which you are not usually a part, but you have certain information they needed. This same manager from the staff meeting is present and again takes over the conversation. Have you ever worked with someone like this? There can be any number of reasons why they feel compelled to control every situation. Perhaps they are insecure and this is a way to compensate or they are basically a verbal bully. Maybe they really want people to know how smart they are. No matter the reason, the know it all can be one of the most irritating coworkers you will ever encounter. This is magnified if they are the boss or owner of the company. At some point, nearly every company encounters a know it all.

They’re Everywhere

We see these kinds of people everywhere. They exist Read the rest of this entry »

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Work and Personal–A Common Thread

If you attend church you are familiar with the concept of a Sunday Christian. This is a person who acts one way on Sunday and a whole different way during the rest of the week – even varying their behavior based on the group they’re with. There is in essence no common thread to who they are.

A Highly Stressful Way to Live?

Perhaps you have read the Strange Case of Dr. Jekyll and Mr. Hyde by Robert Louis Stevenson. It is the story of a struggle by one man who seems very good at one time and quite an evil individual at another time. I won’t get into the various interpretations of the book, but merely use it as an illustration of how some live. One moment they are Mr. Nice Guy and the next moment Read the rest of this entry »

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Check Your Assumptions

Assume your business is just humming along. There are no major problems, yet you sense that things could be better. You’ve noticed that things are not working exactly as planned – oh, again nothing major, but just little breakdowns. On top of that, there is beginning to be a loss of camaraderie and disagreements that never seem Read the rest of this entry »

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What is the Purpose of Your Purposes?

At first thought the question “What is the purpose of your purposes?” may sound like doublespeak. But it really isn’t. In an earlier blog post, Why You Need a Purpose or Mission Statement purpose was initially addressed. Along with that blog were two other blogs, Why You Need a Vision Statement and Why You Need a Values Statement to help round out the thought process. Here I want to delve a little deeper into purpose.

How Do You Learn?

Okay, say you have a purpose statement, and for the sake of our discussion, let’s say that statement reads, Read the rest of this entry »

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