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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: entrepreneurs
Is There Anything CEOish for Me to Do?
The line is from one of my favorite New Yorker cartoons. It’s being asked by an executive of his secretary. It is also a common question of business owners who have built successful organizations. The need for a CEO is present … Continue reading
2 Responses to Is There Anything CEOish for Me to Do?
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Germany Makes a Business Decision
Germany just announced that it could accept an additional 500,000 refugees when other countries are jockeying to accommodate as few as possible. As much as the announcement was portrayed as a humanitarian effort, it is just as likely a simple business decision. Few members … Continue reading
7 Responses to Germany Makes a Business Decision
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Thanks for putting a face on the other side of the immigration issue. Our country benefited greatly economically from immigration in the past. We can benefit now while helping many people at the same time.
I wonder if we as a nation can get past the frustration of extreme political self-interest and see through the pandering on the part of some candidates.
I’m hopeful but concerned.
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This observation is spot on. Japan will suffer worst because their racial intolerance is so bad that they cannot contemplate the an immigration program at any scale that would save them. On a visit to Yokohama I had repeated experiences in being denied access to jazz clubs, because they were “Japanese Only”. It was a trivial discrimination but it made me aware how bad it can make you feel.
The least intelligent of the current US immigrant phobias are the proposals to repeal the 14th Amendment to the Constitution – “All persons born or naturalized in the United States, and subject to the jurisdiction thereof, are citizens of the United States and of the state wherein they reside.” and to repeal the Dream Act that removes the threat of deportation for children of illegal immigrants. In most cases, we have already educated these young people and they are an economic benefit to their communities.
I wish “Cost / Benefit” analysis could be applied to many of the challenges that face the USA. -
Good point!
While there are many perspectives that can be taken on this topic, this is certainly one with a positive side effect. – Whilst I don’t think that this is the main motivation for the German government, it could indeed prove true and benefit Germany in a few years … if they succeed on integration. -
Several years ago I was traveling in Norway and was struck by the large population of Somali immigrants there. Norway also has a negative population problem and had been attracting immigrants from many countries including the US becuase they seem to be color blind according to several former American black people I met. they would rather raise their children there there away from gangs and low expectations. Norway only wants you to commit to raising your children there and will subsidize you to do so with parental leave, education and job training for the parents. I was surprised to see so many olive and dark skinned people in the land of the blond, blue eyed Norsemen even outside of the urban areas..
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On Point. One other factor in Germany’s favor is the effectiveness with which they assimilated a less skilled East Germany population back in so efficiently and effectively. We must make education and training of the new immigrants a priority so they can help our economy grow, and not just to perform low skilled low paying jobs.
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We all should be champions for open immigration and free movements cross the borders, as long it is based on the trader principle. If you have the right to your life, you should be able to live and work wherever you want, in a free world.
Immigration as become a hot topic in Scandinavia. I hope people will learn from the melting pot and the land of opportunity: the United States of America.
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As with most European countries, meetings etiquette in Germany relies on professionalism, good business sense and formality. Bearing the above in mind, together with a positive attitude will ensure good results.
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Companies Sell for a Multiple of…What?
Last week we discussed the difference between Main Street and Mid-market companies regarding their prospects for finding a buyer. You can read it here, but the short analysis is that the market is tightening for Main Street businesses, while the … Continue reading
5 Responses to Companies Sell for a Multiple of…What?
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Right on target. Thanks for the article. Thought: The experts who have never bought oe sold a business,,, are they experts?
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Hi John.
If I am representing a buyer, we would look at the discounted cash flow of four year projected earnings, plus a terminal value, particularly if the buyer is using some debt to make the acquisition.
David. -
Good article. The truth is that a business, any business, is not worth what the owner think is worth, and is not worth what the buyer think is worth; it is somewhere in between, but how do you convince both parties of that?
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The Toughest Part of Performance Reviews
There’s been some noise in the business press of late regarding large corporations’ decisions to eliminate performance reviews. Like those who have installed unlimited PTO (Paid Time Off) and other “new” management methods, review-less organizations are deemed to be more … Continue reading
7 Responses to The Toughest Part of Performance Reviews
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Annual reviews are a horrible idea. Can imagine getting feedback 12 months later after a positive or negative event – how does it help? It only slightly recognizes what occurred. We are now moving to quarterly reviews and one day to monthly reviews. In the book The Game of Work, by Charles Coonradt, teaches an excellent method of measuring the success of the employee and how to harness that success to mutual benefit both employer and team members.
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John,
Thanks for the walk down memory lane, great reminders… As I recall, the things in life that are worth amything are often difficult and a lot of work, not fun and easy.
jk
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I fully agree with the negative feelings about performance reviews and that’s why I wrote my book “Performance Reviews; The Bad, The Ugly, … The Alternative” (Amazon).
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An employee is responsible to offer three areas to his/her employer; 1. Performance, 2. (Mutual Respect to organization, fellow employees and customers) , and the, 3. Ability to “Think” as to how they can assist and help achieve the organizations charge. That is it!
A performance review, on a quarterly “update” basis, keeps the individual attuned and allows an avenue to resolve any issues that may be getting in the way of the best performance possible.
It works.
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Never Fire a Salesperson
The majority of business owners prefer linking pay to employee performance. The sales role in most businesses is the easiest and most obvious place to begin. Yet owners struggle with compensating salespeople in a manner that is affordable while still driving sustained performance. Building … Continue reading
That is right on for a successful company. I continue to stimulate with outside influences and appropriate the time for projections on business needs and direction along with diversification. Good and simple read, but most overlooked in small business. Good job John!
Well put, as always! When I was running my computer service company we moved to a new building, and I was a little embarrassed at the size of the CEO office that the new office layout had. The thing was huge with a cathedral ceiling, and I always felt that you could play basketball in it! I was talking to a consultant one day who was helping me with strategy, and I mentioned my thoughts to him. His reply has always stuck with me and is germane to your point: “Your job is to sit in your big office and think the big thought.”