Category: Execution
Rational Investing vs Irrational Entrepreneurship (Admirable Idealism)
When asked at this year’s meeting, “What matters most at Berkshire Hathaway?” Charlie Munger and Warren Buffett quickly agreed: “Seeing things the way they are.” Rational As Opposed to Smart Warren and Charlie then went to one of their favorite topics about how the success of… Continue reading
A Business Strategy to Capture More Value
The best entrepreneurs and business owners know that capturing value, not just creating value, is critical to success. The phrase “capturing value” is not meant to convey a zero-sum concept of one person capturing what another person loses. It is a way of saying that… Continue reading
Simple Strategy Lessons: Better before cheaper. Revenue before costs.
Sometimes the best ideas and best advice are the most simple. When I read the following article a while back, I loved it. And believed it. And continue to believe it. Michael Raynor and Mumtaz Ahmed from Deloitte Consulting performed a study that began with 25,000 companies… Continue reading
Resilient Companies Balance Continuity with Shock Absorption
Time can be an overlooked element in business. Time can be an enemy, and time can be a friend. Understanding the impact of time on your business separates the best business minds from the rest. Time affects the pace of change for components of your business, your… Continue reading
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
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