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As a business owner, you know what it’s like to lie awake at 2 a.m. Maybe it has happened when you are excited and full of new ideas for your business. More often, it’s because you are worried about issues you will face the next day. Sometimes, it’s because you just woke up with the solution to a problem. I’ve experienced all those emotions about my businesses over the years. Awake at 2 o’clock? is where I share them with you, and hopefully help with answers that will let you sleep.
John F. Dini, CExP, CEPA
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Small business owners are the Hunters of the 21st century. We are 3% of the US population, and yet we create over half of all American jobs. As Hunters, we may not be inclined to manage by the numbers or stick to systems. Are you a Hunter or a Farmer?
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How prepared are you to exit your company?
The Assessment breaks down the four major categories of exit readiness; Finance, Planning, Operations and Revenue/Profit.
Tag Archives: Boomer Bust
Who’s Picking Up the Tab?
When a small business is sold, the total price of the business includes not only the cash paid, but any obligations assumed by the buyer on behalf of the seller. Transfer of a loan balance, accrued vacation pay for employees or … Continue reading
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The Only Number that Counts
The retirement of a generation of entrepreneurs (see www.theboomerbust.com) is an event unique in our history, or in anyone’s history for that matter. What we are about to experience is inevitable, and those who are unprepared are in for a … Continue reading
3 Responses to The Only Number that Counts
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Employment as Video Game
In a recent survey of 20-something employees, the majority said that they expected a promotion in the workplace at least every two years. Most surprising to business owners, however, was that they did not believe that such advancement should be … Continue reading
One Response to Employment as Video Game
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Great points John. I have seen some significant software trends dealing with “gamification” of business process control systems to address this specific subject. “RedCritter Connector” is a notable example of this.
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Ready…Set…Exit! Part II
Last week we discussed the tsunami of Baby Boomer retirement, and how we will reach a peak of nearly 500 unsold businesses a day within the next 5 years. The statistics are immutable. The birthrates of the last century are … Continue reading
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Millennials: The New Normal
Do you employ Millennials? If you have twenty-somethings in your workplace, you do. Most scientists who study generations put the start of the Millennials between 1982 and 1985. Using the earliest dates, the oldest are just turning thirty this year. Sociologists … Continue reading
4 Responses to Millennials: The New Normal
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Thanks for this John…I know it’s very hard for some Boomers and X’ers to understand, but you’re right about the Y’s.
I find if funny that Mr. Konopaske is a consultant for Millennials but has no ways to follow him? (twitter, linked in, fb)-
Hi, John:
Thanks for another insightful piece on generational differences in the workplace…an area for which we both share a strong passion. As the founder of a new management consulting company, I’m pleased to see how my first few company clients are taking a proactive approach to getting their arms around these thorny generational issues. I agree with you that there are a number of major differences in how Boomers and Millennials communicate, use technology, learn and perform their jobs, and integrate their personal and work lives. Yes, after growing up with near continuous positive feedback from their parents, teachers, and coaches (don’t forget hourly video game “leveling up” and “high score” messages, texting 100+ times/day, and continuous social media page updates/thumbs up icons, etc.), they expect to be recognized frequently from their supervisors and companies (informally through verbal reinforcement and formally through frequent pay raises and promotions, challenging assignments, continuous training and development) for doing their regular jobs with competence. That being said, I have to admit that I’m “bullish” on Millennials as a positive current and future force for businesses…they are very smart and know where to find answers quickly, entrepreneurial, globally-minded, learning-oriented, technically-savvy, balanced, environmentally and socially conscious, and keenly interested in doings things in their own (better?) way. Organizations can benefit by developing strategies to attract, engage, develop, and retain talented Millennial employees and junior managers…so that they can work closely with and learn from Boomers. This knowledge Boomer-to-Millennial transfer needs to occur before too many Boomers leave the workforce and take their invaluable organizational knowledge with them.
Clint:
Thanks for the suggestion to add follow links to my http://www.MillennialEdge360.com website. I recently set up accounts on FB, Twitter, LinkedIn, Tumblr, and a few other social media sites, but need to get the follow buttons added. That’ll be done soon. Here’s the link to my FB site: https://www.facebook.com/millennialedge360.
Rob K.
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Hey Rob,
Yeah, I’m bullish on them as well…they’re our future leaders and have a lot to give…look forward to following you on Twitter and Linked In (Facebook is just not in my DNA).
Clint.
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You’re so right John, these Millennials are from a different world. And, as you say, boomers must learn how to communicate with them if they’re to continue to succeed in business. This is something that failed and failing businesses have not embraced sufficiently and now they suffer. A good leader always learns how to communicate to the audience at hand. If you can’t communicate through their media and ways of understanding, you will loose them and their productivity. And a good leader trains subordinates to take his/her place. When you’re not at work, how will they be trained or qualified to take you’re place and continue your business plan?
John..you continue to be a mirror. Well stated, I’ll look for the book on Amazon.
You now know one business owner who thinks the downturn is over. 2013 numbers have blown our 2012 numbers out of the park. I do give you kudos for the first 80% of your article. We have met the enemy and it is us.
Well done, John. I appreciate your hardwork. I hope more business will bloom this year 2014. I will grab a copy of “Hunting in a Farmer’s World: Celebrating the Mind of an Entrepreneur” on Amazon. Great job!