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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: economy
The Criminalization of Integrity
Yesterday Congress passed the credit card reform act. The cynical part of me doesn’t like another law that is designed to protect the stupid from themselves, but that’s not what I’m really upset about. The New York Times published an … Continue reading
One Response to The Criminalization of Integrity
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One Response to Small Business can Sell in a Recession
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It is true… business sellers are more and more confused in the current market scenario. In such a situation, an experienced business broker might be advisable for a main street business seller.
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Your Official Inflation Notice
A number of my clients have not yet reacted to the crashing of the financial world around them. They are not idiots, but San Antonio remains relatively healthy, and almost 2/3 of the companies we currently work with (about 104 … Continue reading
3 Responses to Your Official Inflation Notice
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John:
I would agree to a point – but I think business insurance is an area that will remain open to negotiation – we saw our business property premiums increase only slightly at our recent renewal. Perhaps they are not fully feeling the pressure, yet.
Since insurers will be hurting just as badly, they want to convert coverage from their competitors, which means more aggressive pricing models – more coverage for the same amount or the same coverage for less money.
Analogy – how do you know a bank is in trouble right now? It offers the best rates on CDs, to suck in capital now to shore up its balance sheet while pushing higher expenses down the road.
Since any cash from a new account is better than no cash, insurers will compete on price to put money in the bank. And, of the three entities you discussed, insurers are the easiest to change, at least for property and casualty insurance.
Health insurance is more difficult to change, and in fact, you could argue it is more of a hassle to change it instead of your bank. But, for every business there is a point where no matter how badly you want it, the health insurance premium becomes unsustainable. Looking at the trend, a lot of businesses have already reached that point.
Unfortunately for insurers, they don’t have the direct power of the state to force you to buy.
Thoughts?
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. The Center for Media Research has released a study by Vertical Response that shows just where many of these ‘Main Street’ players are going with their online dollars. The big winners: e-mail and social media. With only 3.8% of small business folks NOT planning on using e-mail marketing and with social media carrying the perception of being free (which they so rudely discover it is far from free) this should make some in the banner and search crowd a little wary.
http://www.onlineuniversalwork.com -
very niec……………..
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The Double Bubble
After three positive days in the stock market, it is tempting to breathe a sigh of relief and forget the doom and gloom reports. There are still dynamics, however, that will take a while to work through the system. Take … Continue reading
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If This Goes On…
Today the government is announcing a trillion dollars for “asset based markets.” The government has become a vague amalgam of “Treasury and Federal Reserve officials.” The asset based markets are apparently banks, hedge funds, credit card issuers and private equity … Continue reading
One Response to If This Goes On…
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Good suggestion on Thomas Friedman and I thought that article was great.
Can you give 2 or 3 quick hits on what a plan would look like. Is it financial, operational, some combination?
Chuck
Spot On!!! There seems to be a complete vacuum of personal responsibilty out side of any system that has built in penalties. Oh say… like owning your own small business where you are emmediately held accountable by your customers and the market.