Latest Columns – Page 6 – www.exkalibur.com

Don’t skip this! Create Goals that Have Meaning

Creating goals that have meaning

“It’s just a goal.”
That’s a phrase I’ve heard too many times when a business leader engages in a performance review with an employee or when companies embark on a corporate planning effort.
Do they mean that a goal is more like a road sign, pointing the way without regard for whether you actually arrive?
Is it like the proverbial carrot dangled on the stick in front of us, with some motivational value but with no expectation that we will ever feast upon it? (more…)

V39: Government Intrusion can be fatal!

For almost two years, I have been writing a regular column for the North Bay Business Journal, a publication of the New York Times, a weekly business newspaper which covers the North Bay area of San Francisco – from the Golden Gate bridge north, including the Wine Country of Sonoma and Napa counties.

**********************************************************************************

Article References

Estimate of TARP’s cost to Taxpayers Increases
$296 Billion in Overruns in U.S. Weapons Programs
Executives Took, but the Directors Gave … corporate governance issues
Even Rick Wagoner’s Firing Got Lousy Mileage … another POV
Wagoner didn’t deserve it … BW Featured Column
We’re Not the Boss of A.I.G. … Carl Icahn on the realities of corporate governance

Article published – April 13, 2009

BUILDING A BUSINESS: Government’s awkward, costly intervention in economy

Only better corporate accountability, innovation can lead American industry

by Lary Kirchenbauer

I can’t help myself this week. The mounting encroachment by the federal government across the terrain of American enterprise is very troubling, so I hope you’ll join me as we take a slight detour to address a few of these issues.

I understand the outrage over the egregious pay packages, bailout bonuses and inscrutable investment products of many of the nations’ major financial institutions. I also understand the unsettling power of the lender of last resort. Yet, to ignore the federal government’s track record is like overlooking a cliff when climbing the Matterhorn. Two recent and provocative reports serve as vivid reminders of the federal government’s woeful track record and ineptitude at managing large-scale enterprises. (more…)

Business Finance | Have you met the Scavenger’s Daughter?

Impressing your bank less important than being able to hit targets

The Scavenger’s Daughter? Might be the name of a lost Dickens novel … or an indulgent misnomer for a the infamous rack that not only stretched but crushed its victims during the reign of King Henry VIII.
Thumbscrews, pilliwinks, breaks and the tormento de toca were other methods used to punish those that broke their “covenant” with the King.
Fortunately, those punishments are relegated to history’s ash heap … at least I’m pretty sure that banks aren’t using any of these default provisions.

Compliance with financial covenants

Compliance with financial covenants, however, has never been more important. Today, banks have an arsenal of covenant choices that are used as an early warning system to alert participants to potential problems that may jeopardize their financial well-being.
It’s important to recall that covenants are based upon (more…)

Vol. 37: “Shell the Beach”

The North Bay Business Journal, a publication of the New York Times, is a weekly business newspaper which covers the North Bay area of San Francisco – from the Golden Gate bridge north, including the Wine Country of Sonoma and Napa counties.

**********************************************************************************

Article published – March 9, 2009

BUILDING A BUSINESS: Planning, pre-emptive explanation will help you with your bank

“Plans are nothing; planning is everything.” – Dwight D. Eisenhower

In the last column we discussed a few core principles about building a sustainable banking relationship. “No surprises” and “preparation” are two of the essential elements.

Now we move to planning. This is a broad subject with many variations, so we’ll focus on cash flow forecasting as an invaluable component of that process. While it provides an important tool for your banker, it must also be an indispensable part of your planning arsenal. Gen. Eisenhower’s comment focuses on the process rather than the result to emphasize that unexpected events and new information always make a difference.

Nonetheless, forecasting remains an elusive objective for many business owners. Most of the objections I hear are comments like, “I have no idea what our sales will be” or, “Who knows what will happen tomorrow let alone the rest of this year” or, “Our industry is in such a state of flux that no one knows what might happen.”

While these “Double V” economic times (big volatility and little visibility) make it more difficult than ever to predict and forecast performance, your bank will be remarkably unimpressed by these excuses. (more…)

Vol. 36: How to deal with your bank

The North Bay Business Journal, a publication of the New York Times, is a weekly business newspaper which covers the North Bay area of San Francisco – from the Golden Gate bridge north, including the Wine Country of Sonoma and Napa counties.

**********************************************************************************

Article published – February 23, 2009

BUILDING A BUSINESS: Ideas for your business you can take to the bank

“Money is better than poverty if only for financial reasons.” – Woody Allen

I’ve received a lot of questions lately about banking issues and the “rules of the road” for dealing with your bank in a troubled economy. All of us are facing an economy that I refer to as the “Double V” – an insidious environment comprised of big volatility and little visibility. These twin engines will predominate for the foreseeable future.

This week’s column will start with Banking 101 as we make our way toward more subtle concepts. Unquestionably, this process is more artful than scientific, and while there are mechanical tasks and financial metrics that apply, managing your banking relationship requires both judgment and discretion.

• No Surprises. It’s no surprise that “No Surprises” is at the top of the list. (more…)

“Building a Business”: Vol. 35

The North Bay Business Journal, a publication of the New York Times, is a weekly business newspaper which covers the North Bay area of San Francisco – from the Golden Gate bridge north, including the Wine Country of Sonoma and Napa counties.

**********************************************************************************

Article published – February 9, 2009

BUILDING A BUSINESS: Diving into the daily details can tell you a lot

Simply signing the payables, ‘walking around’ can reveal savings, innovations

“Never neglect details. When everyone’s mind is dulled or distracted the leader must be doubly vigilant.” – Colin Powell

It’s a phrase we’ve all heard ad nauseum, but yes, the devil’s still in the details. How does a business leader retain perspective on the more strategic elements of his company while capturing and controlling sufficient details to calibrate and validate the execution of that strategy?

Here are a few proven methods to uncover and gain insight into some of these intricate details. (more…)

7 Ways to Differentiate between a Lightning Bolt and a Bright Idea

Charles Dickens' famous opening sentence continues ... "it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity." More than 150 years later, our business world is possessed of similar contradictions. Sometimes the light you see at…

Vol 33: What does your business stand for?

The North Bay Business Journal, a publication of the New York Times, is a weekly business newspaper which covers the North Bay area of San Francisco – from the Golden Gate bridge north, including the Wine Country of Sonoma and Napa counties.

**********************************************************************************

Article published – January 12, 2009

BUILDING A BUSINESS: It’s ’09: Do you know what your business stands for?

by Lary Kirchenbauer

“I coulda had class, I coulda been a contender, I coulda been somebody … instead of a bum.” – Terry Malloy

The night sky is etched in vivid black and white tones, and in the back seat of a chauffeured car prowling the streets of Hoboken, N.J., a lawyer for a mob-connected union boss confronts his brother, Terry Malloy, about testifying against the mob in court.

Malloy, despondent over these threats, is stunned when his brother pulls a gun to emphasize his point. Their relationship had reached a nadir, and Malloy was distraught that his brother helped dismantle his fledgling boxing career. In his dark lament, he delivers the memorable line quoted above – that he “coulda been somebody.”

Our moms also told us to “be somebody” – although our behavior at a particular moment may have altered her tone … “Be somebody better than you’re being right now” or “Get off the couch and quit loafing.” (more…)

Vol 32: Cash is still KING!

The North Bay Business Journal, a publication of the New York Times, is a weekly business newspaper which covers the North Bay area of San Francisco – from the Golden Gate bridge north, including the Wine Country of Sonoma and Napa counties.

**********************************************************************************

Article published – December 15, 2008

BUILDING A BUSINESS: Surprise: ‘Cash is king; here’s how to keep it flowing

by Lary Kirchenbauer

“Money’s a horrid thing to follow but a charming thing to meet.” – Henry James

There is probably no more trite but compelling phrase in the business lexicon these days than “Cash is King.” What does it mean? (more…)