Action Planning Podcast Series | What Do YOU Want to do?
What are we going to be covering in this 6th and final podcast in our Action Planning Course? In this final episode of our Strategy podcast series, we extend our conversation to examine a 4th criterion that should be used to evaluate all of the opportunities available to build your…
Action Planning Podcast Series | What’s Going On in the World?
What are we going to be covering in this 5th podcast in our Action Planning Course? We've all been here, haven't we? We've got a great idea to expand our business, we dive in head first so certain that it will work ... only to find that we've squandered valuable…
Action Planning Podcast Series | Got Competition?
What are we going to be covering in this 4th podcast in our Action Planning Course? A critical part of planning requires you to carefully examine all of the opportunities available to help you build your business … and to apply consistent criteria so that you can compare each of…
Strategic Finance? 7 Deadly Sins infect merger boom!
How many times have we heard about a failed marriage, scuttled by pride … greed … jealousy … envy … or other misdeeds flowing from the interminably deep well of human shortcomings? Too many, I’m sure, but those denizens of the 7 Deadly Sins brigade also besiege the world of mergers and acquisitions.
I haven’t written about this enough, I realize, as I read the M&A Losers in $10 Trillion Deal Binge …. providing yet one more example of the failed mergers that incite shareholder rebellions. We know the road to hell is paved with good intentions, so that doesn’t count for much. We expect CEOs and their directors to exercise their fiduciary responsibility to US by making sound decisions that are not scuttled by some array of the 7 Deadly Sins. (more…)
Yummy for the money
In Cash for Chocolate, WSJ outlines several creative ways to raise funds for those of you looking for an innovative solution. I like the idea of "chocolate bonds" where you receive a box of chocolates every month as part of your investment return, or receive a "grocery discount" when investing in a…
Let the laymen set the deal!
Once in awhile, it’s nice to see your advice echoed in the halls from someone like Warren Buffett. Since my early investment and venture capital days, I have promoted the concept of a simple “terms sheet” to set down the deal terms between the companies involved, making sure that the businessmen understand the business issues first.
Your attorneys serve an valuable role but it’s invaluable for both sides to be very clear about the business objectives (more…)
Vol 57: Think Strategically!
“The most serious mistakes are not being made as a result of wrong answers. The truly dangerous thing is asking the wrong questions.”– Peter Drucker
I have been working recently with a young CEO-in-waiting who is eager to move into the top spot. He recognizes, however, that his struggle to “think strategically” may be keeping him back. On a tactical level, he is very efficient, discharging the assignments given to him, working his way through his daily action list and dispatching players to their intended destinations. He’s proud of his accomplishments, as he should be, but he “can’t see the lawn for the blades of grass,” and is constantly wrestling with how to develop a strategic perspective.
Ironically, many executives bear a subconscious fear about actually getting to that strategic level. After all, it’s a little harder to figure out what to do than to simply — do. It’s more demanding to establish the flight plan than to follow it. Creating the plan also demands more personal accountability, the conundrum that befuddles so many executives in the first place.
What does it mean to “think strategically?” (more…)
Lessons from a Lemonade Stand!
Seth Godin recently wrote about two lemonade stands and how simple things in the approach made such a big difference. My colleague, Jonathan Fields, also commented on this post, expanding upon some of the key differentiators that apply to all of our businesses. Simple concept, Provocative Ideas. Free lemonade, anyone?