Category: Business Management
Wonderful Competitive Advantage Through A Unique Distribution Channel
Sustainable competitive advantage — a goal which will be always sought and ever elusive in business. It is difficult to define. Yet, we often know it when we see it. People attempt to draw-up lists in an effort to understand and remember the types of… Continue reading
Owners’ Words Best When Reflect Both Noble Purpose & Bottom-Line
This revealing story was told by speaker Lisa McLeod at the recent Murphy Conference for their impressive network of business brokers across the country. McLeod gave a very nice talk based on her book Selling with Noble Purpose. McLeod was facing a conundrum in her… Continue reading
Berkshire Hathaway: If You Love the Management, Set Them Free
Private equity investors often take the “father knows best” approach to working with their management teams. To me, this is crazy — particularly when the management team has years of experience with the business, the investors are new to the business, and the track record… Continue reading
Business Improvements in Marketing As Well As Factory
W. Edwards Deming went from the USA to Japan after World War II and his ideas about continuous business improvements came back to the USA from Japan as a business management tool — kaizen: daily small improvements building a better process over time. See Deming. … Continue reading
Managing Business, Managing Time, and the Case for Doing Nothing
Balance is an elusive concept — and so relevant to so many business situations. I have enjoyed adding to our series on Balance — last year, we identified more than 20 things a business owner must balance. Should we focus inside or outside? Should we… Continue reading
Invest in Strength Rather Than Work on Weakness
For your business, do you believe it is more important to spend more time on your challenges or your opportunities? Similarly, do you believe that you should invest in your strengths or work on your weaknesses? The answer, of course, depends. If the challenge in… Continue reading
Binders Don’t Make Employees Safe
I am all for employee safety, but paperwork in a binder doesn’t cushion any accident. This story may be an example about how worker’s comp is broken. I am not an expert on worker’s comp nor do I want to spend lots of time figuring… Continue reading
Like Warren Buffett, Best Investment Philosophy Balances Discipline with Flexibility
Warren Buffett is famous for his discipline in his early investing success. Now, I think he is demonstrating his flexibility (some are critical of his recent flexibility) in investment philosophy. Both are important skills for business owners and managers to master and to know when… Continue reading
Family Business Role Models: Blumkin Family of Berkshire Hathaway
Heroes have been a topic several times in talks by Warren Buffet. “Pick your heroes carefully,” he said one time, “as it will have a big impact on who you become.” Another time he said, “Tell me who someone’s heroes are, and I will have… Continue reading
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