We know an entrepreneur who was considering opening his books to his company’s employees. Before he did, he wanted to see how much they knew about the business. So he told them his revenues were about $10 million and asked how much profit they thought...
Sometimes a competitor makes an offer so aggressive that even your loyal customers can’t ignore it. Though they may love your product, your people, your brand, and what you stand for, there is just too much money at stake. How can you win without dropping...
Which of our customers are profitable and which are not? Where should we focus our marketing efforts, and why? Where are the opportunities to increase gross profit or reduce overhead expenses? Out-of-control companies can't answer questions like these because they don't have accurate numbers. Source: Forbes...
Lowe’s joins a couple of dozen other large companies who will channel some of their tax-cut windfalls into bonuses. Here’s what the effect of these bonuses on the workforce is likely to be. Virtually everyone, we can assume, will welcome the extra money. Then they...
Sexual harassment charges have been piling up in the business world, whether it’s the factory floor at Ford or an elite New York restaurant. The economic costs, of course, are only a reflection of the human and social costs. Source: Forbes | The Terrible Cost Of...
Right now, the US unemployment rate is hovering around 4%. For business owners, the statistic has a simple and powerful implication. Labor is scarce, and your best employees are likely to have a lot of other opportunities. Will some of them consider—or even take—those opportunities? Source: Forbes...
The Holidays are a great time to reflect on the past year. Businesses typically do their planning, starting by looking at the variances in plan. But this financial analysis may mask the underlying purpose of business, which is to improve the lives of...
Ah, the holidays. For families, it’s a time of joy. For business owners, it should be a time of deep satisfaction and appreciation. As the year comes to a close, entrepreneurs can take pride in the company they lead, the customers they serve, the income...
Why are so many companies so ineffective at boosting employee engagement? To us, the problem is that companies think about engagement in exactly the wrong way. Source: Forbes | Why Engagement Fails -- And What To Do About It...
Business owners like Rail Trail’s partners play a central role in every American city and town. They can be a powerful force for good in all their dealings, and they can help build a strong American economy. But only if they pursue good profits, not...