Business Insights You Can Use
Ever since the internet became a digital destination for businesses and customers, companies have vied with each other to get the domain names they want. Choosing (and owning!) the right domain name is important, for several reasons. As a business, for example, a...
The post COVID-19 business environment is just around the corner. Virtually no one was ready to deal with the pandemic, but savvy companies will be fully prepared to take advantage of business and market conditions as the pandemic wanes. Are you in that elite group?...
Most technologies get faster, better, and cheaper as time passes. Remember when a basic PC could set you back $3000-$4000? Thirty-five years later, a $200 smartphone has far more power, speed, and capabilities than that old green-screen monochrome desktop boat-anchor...
If you're a business owner, you know that it often feels like there are not enough hours in the day. But the problem doesn’t start and stop at you: One study found that during the summer months, workplace productivity drops by up to 20 percent. And although many of us...
The economy has never been more mercurial. You need to be ready for anything. Here's how to perform a business health check to help you prepare. Financial analysts spoke to The New York Times last December and reported that we’re likely in a “global debt bubble.” This...
Fraud is at an all-time high, with 47 percent of companies have experienced fraud in the past two years, according to PWC’s Global Economic Crime and Fraud Survey 2020. Procurement fraud is just one of the types of crime covered in the survey’s list of 13 potentially...
There’s been a buzz around marketing automation for quite some time now. Businesses that want to maintain or improve market position and guarantee future success, must have an up-to-date understanding of the various marketing automation strategies and tools. Falling...
When the dinosaurs disappeared, their place in the ecosystem was taken by creatures better adapted for success. It’s the same today with the traditional “performance review.” Attitudes are changing, the workforce is evolving, the workplace has become virtual for many,...
In the sales world, there is often resistance from the people we are meeting, they resist what they may not understand. I do this myself, whether it’s a product or service or if it’s on a more personal note like where to eat or a project on the honey-do list. Until I...
Everyone wants to do what they enjoy. The saying goes that if you do what you love, you’ll never work a day in your life! Many entrepreneurs don’t have the luxury of doing only what they enjoy, however, so it’s important to find your passion within the scope of your...
Family Owned Businesses Insights
Marrying brings enough complications but when it also involves two family businesses, it brings even more difficulties…
Problem—We are a Dairy Business in a college town. We have three daughters but no sons. Our oldest daughter works with our father as the leadership team. He watches the bottling; she deals with our customers who sell us milk. Our second daughter is the financial...
Problem—Our oldest son is finishing college and will be married. He has worked with us and has a good understanding of our business. He has a good relationship with our father. How do we ensure that he joins us after his graduation and marriage? Answer—It is...
Question—What should we do when we need to hire a person who is not a member of our family? Answer—Look very carefully to find a person who will fit well into your family and do your job well too. This task is probably the most often questioned in family businesses. ...
You Want Your Kids to Join the Family Business – But Your Children May Not Want What You Want. What to Do?
Problem: Our Son is In High School and is on the Jr. Baseball Team which he thinks he wants to pursue when he is out of school. He helps us when we need him if it does not interfere with his baseball. How do we get him to commit to joining our business? Answer: ...
Problem: Our family usually does well working with each other. Of course, there is the occasional disagreement between parents and children where situations in the business result in an impasse where cooperation becomes impossible. Solution: Family business...
Is this you? "Our family is close at work, but it seems like we never get to the problems and issues that divide us in life. This has been going on for years and I am afraid we are drifting apart, emotionally, and living in siloes so we cannot really communicate with...
Sales in The Family Business Have Been Falling Month After Month. How Do You Use the Power of The Family to Fix That?
Sales in your store have been falling for three months. (Use a three-month or other sufficiently long period of time so real trends can be easily seen, i.e., consistently falling over a time period in a way you have never experienced before.) What should you do as...
The answer is in the question itself: The Family. It has a leader and another member of the family. Who discuss the issues and makes decisions? The non-family business has a CEO and a board of directors. The two entities can discuss business issues, but the CEO may...
Answer: when the family is not the center of the business. This is the simple answer. Want more? When money is the only reason for the business to exist. Or, when there are so many non-family Working in the business that the family is eclipsed by their numbers. Or...
The skills are asking questions, decision making, and bringing family along with the decisions. Asking questions in and outside the family How does anyone get enough information to inform their decisions? A lot of questions to Everyone about everything that is...
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- Marrying brings enough complications but when it also involves two family businesses, it brings even more difficulties…
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- Sales in The Family Business Have Been Falling Month After Month. How Do You Use the Power of The Family to Fix That?
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