Posts Tagged ‘decision’

Indecision is a Bad Decision

How often have you found yourself waiting on a decision or leaving others waiting on your decision? Take too long to make a decision and that becomes the decision, and quite often that means this indecision is a bad decision. Rather than making the best decision based on the facts at hand, there may be a tendency to hold off until certain of the decision. By then it may be too late. As Geoffrey Chaucer said, “Time and tide wait for no man.”

There Is Competition

How many companies have debated making changes to their product offerings, only to be left behind when the competition acted first? Not only does Read the rest of this entry »

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Testing Your Business Idea

For years I’ve loved working with start-ups and early stage businesses. There are numerous reasons, including the uncertainty and the need to be able make quick changes as the business begins to unfold. You might wonder why I would like uncertainty. Well, I like it because it keeps challenging me to grow and learn. If you are starting a business or even trying to grow a relatively new one, you will find it more enjoyable and improve your likelihood of success if you learn to like or even love uncertainty and change and the challenges both present. Whether a start-up or simply a relatively new business, you will need ways for testing your business idea.

The Disadvantage That Once Existed

It was not that long ago that you had to invest a lot of time and money simply to see if Read the rest of this entry »

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One Issue at a Time

A good debate is enjoyable, particularly if there is a sincere intent to identify common areas of agreement. One thing you don’t want present is the The Know It All. Yet, there is another thing that can make this difficult to practice; failure to discuss one issue at a time.

Are We All on the Same Page?

Next time you are in a business discussion and there seems to be a great deal of difficulty forming a consensus, take a moment to examine the dialogue. Let’s say you are trying to convince Read the rest of this entry »

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Turning Business Challenges into Strengths

One of my favorite quotes is, “If you’re going through hell, keep going.” – Winston Churchill. In other words, why would you want to stay where you are? After all, once you’ve survived the struggle, you often find yourself better off than before. “People grow through experience if they meet life honestly and courageously. This is how character is built.” – Eleanor Roosevelt

Business challenges do not have to be viewed as something bad. Of course, that does not mean you have to like them either. But they can be a good thing.

Learn from Your Mistakes

Undoubtedly many challenges are the result of Read the rest of this entry »

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Misconceptions about Small Business

There are a lot of misconceptions about small business. Here are a few of the key ones.

It’s Not as Hard as Big Business

You may have had the experience of asking someone what they do for a living and gotten the response, “I have my own company.” Perhaps your reaction, often unspoken, is, “Wow, it must be nice to not have to wonder where your next paycheck is coming from.” That’s a common Read the rest of this entry »

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Majority Rules, or Do They?

Is it always good for the majority to rule in business or is there something more to consider?

Business Decisions

It is not unusual for a business to make decisions based on the majority opinion of the managers. You may have had the experience of being in a meeting where a decision needs to be made. After hearing various opinions it is common that Read the rest of this entry »

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What Can You Change?

Some things you cannot change no matter how much you want. For example, as of the first of 2014 incandescent light bulbs are for all practical purposes finished in the U.S. Sure, some people have a few they already bought and the stores are allowed to sell what they have in stock, but then that it. For all practical purposes, this is one of those things you cannot change.

Change What Needs Changing

Too often we get caught up in fretting about something we wish Read the rest of this entry »

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Price Is Not Everything

It can make a lot of sense to be a value shopper. In spite of that, there are times when it may not be the best idea. Here are a few thoughts on why you might not want price to be your sole deciding factor on a purchase. Read the rest of this entry »

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Principle Based Decisions

Do you have a method of making decisions in your business? That may sound like a silly question, but it’s not.

Everybody Has Their Own Way

The difficulty with making decisions for a company arises largely from the different approaches people use. There are those who make decisions largely on an emotional basis, those who use analysis, those who look at how others have made decisions and people who make principle based decisions. Let’s take a brief look at each method.

Emotion Based Decisions

This is one that is easy to fall into but has considerable shortcomings. Just examine your personal life. How many times in the heat of the moment have you done or said something, only to realize later you were acting out of your emotions. Looking back you may wish you had delayed and more carefully considered the appropriate response. The flaw here is failure to Read the rest of this entry »

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5 Reasons to Keep Accounting Current

Accounting is one of those areas that can get put on the back burner. That can be a very serious mistake. This posting is highly relevant to start-ups, but applies more to some small businesses that have existed for a long time than you might imagine. Although there are certainly more than five reasons to keep accounting current, here are five that I believe are critical.

Legal Obligations

You will undoubtedly need correct financial information to have Read the rest of this entry »

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