Congratulations. Your business is up and running. Your hard work is paying off and you now find yourself on the verge of signing your first big contract. That’s great news. But slow down and take a deep breath. Don’t let your excitement blind you to some important considerations, including some all-too-common contracting pitfalls. Let’s take a hypothetical businessman named … [More]
Trucking: Moving Commerce
Once a semi gets up to speed on the open road, few things can stop its momentum unless it’s a car trying to edge past. Even then, it’s almost a sure bet who will keep moving if the maneuver is too close. “It’s not the smartest thing to cut off an 80,000-pound trailer,” says Tony Bradley, the new president and CEO at Arizona Trucking Association. And, despite the roadblocks a … [More]
Strengthening the Pipeline for References
Harnessing the power of references and referrals seems like an obvious win. What could make more sense for a business than to leverage the enthusiasm of happy customers to convince buyers that they need its products and services? And in an increasingly social and networked world — not to mention an economy where every dollar of revenue is critical — this type of third party … [More]
Check the Vital Signs of Client Relationships
Annual checkups play as vital a role in a businessperson’s professional health as physicals do for individuals — especially with regard to client and customer relationships, which are the lifeblood of every business. Most clients vote with their feet. They don’t tell a business they are unhappy — they simply start to give their business to its competitors. Client relationship … [More]
Stress and Bullying Take a Toll on Business
Stress hurts. Individuals may experience stomach problems, muscle tension or headaches, or loss of interest in their work, among a host of other expressions. And it spills over into the workplace in a number of different ways, all of which hurt a company’s bottom line — to the tune of $200–$300 billion in the United States every year in net effect of expenses that include … [More]
Intellectual Property: Protecting a Core Business Asset
It is never too early to start thinking about intellectual property protection. Keeping a conscious eye on these assets is a critical part of a business’s success. Business owners are likely to face the following key issues during the early stages of their enterprises. Trade Name vs. Trademark Many business owners mistakenly believe that a company name is synonymous with … [More]
Technology in Practice
While new technology is blamed as a reason affordable healthcare seems a thing of the past, some Arizona organizations are using such innovations to make medical care accessible on a number of fronts: patient records available immediately, links between rural physicians and urban specialists, use of wireless devices that even patients can afford, and, yes, a life-saving … [More]
Phoenix is Magnet for Foreign Direct Investment
Foreign direct investment appears to be the catalyst stimulating Arizona growth, and right now, eyes are on Phoenix as one of the nation’s hot markets. “Direct foreign investment in Arizona is high on the priority list of all of Arizona’s economic development organizations such as the Arizona Commerce Authority, GPEC, etc.,” says Ed Zito, president of Alliance Bank of Arizona. … [More]
Myths of Performance Management
Investments in performance measurement and management systems have been steadily increasing over the past two decades, and there is no sign this trend will change in the future. Leaders and managers in both private and public organizations regard such systems as a key means to implement and communicate strategy, support decision making, align behaviors, and, ultimately, improve … [More]
Strategic Business Structuring Can Save Assets
So you’re ready to open a business. You have 15 solid years of experience. Your first customer is waiting. A contract manufacturer is ready to start production. You’ve decided on an L.L.C. for your business structure and you’re ready to conquer the world … The best advice for someone in the above scenario is to slow down. Choosing the right entity for a business is … [More]
The ROI of Corporate Training
Before long, veteran construction worker Frank Scopetti will become a division president of McCarthy Building Companies, Inc., an accelerated in-house promotion made possible by the 150-year-old, employee-owned company’s state-of-the-art training programs, last year ranked in the Top 10 nationwide by Training Magazine. In an era of economic uncertainty, increased … [More]
Take Service to the Stratosphere
Service is everywhere. But there is a vast disconnect between the volume of service we need and the quality of service we are giving and receiving. Businesses have turned a very simple human concept into a catastrophic cliché. They remain blind to the fact that true service comes not from demands and dashboards, but from a basic human desire to take care of other … [More]
Entrepreneurial Truths Give Boost to Business
"Doomed from the start." Entrepreneurs and entrepreneur-hopefuls may find it difficult to keep those four words from causing them to second guess their every move as they plan and run their business — especially considering that fewer than 30 percent of businesses last more than 10 years and most failures happen within the first few years of operation. The truth is, many things … [More]
Find That Unique Niche in the Marketplace
It is no secret that competition today has become increasingly intense. In fact, in today’s highly competitive marketplace, the competition is so deadly fierce that the best and the brightest don’t always succeed. Sometimes the best and brightest are annihilated by the competitors in the industry. In situations from starting a business or building a brand to trying to get … [More]
The Strength of ‘No Blame Game’ Leadership
When you arrive at the office each morning, you find yourself in a blame-free zone. Your team attacks projects proactively and with confidence. When a problem arises, everyone involved “owns it” and takes corrective action. Bob in marketing says he’s personally responsible for an event flier going to the printer late and stays late to overnight them to the client. Meanwhile, … [More]
Customers Can Be a Company’s Best Marketers
The old paradigm works like this: A company produces goods and services that help customers get a job done. In return, the customers pay the company money. The company takes that money and invests a good portion of it in traditional sales and marketing efforts — including product developers, creative people and salespeople, all of whom are paid to figure out what buyers want … [More]
The ‘Grow or Die’ Lie
All growth is good. Bigger is better. All businesses must either “grow or die.” These popular business axioms are routinely lauded on Wall Street, at business schools and by some of the most well-respected business consultants of the day. Few question their validity. But actually, these “truths” are anything but. At best, those beliefs are half-truths; at worst, they’re pure … [More]
Entertainment Districts: The Business Behind the Fun
It’s far from fun and games when it comes to developing entertainment districts in the Valley. Filled with movie theaters and arcades — part of a category called “amusements” by tax collectors — as well as restaurants and bars, the districts contributed a growing share of the nearly $551.7 million that the Arizona Department of Revenue collected from these categories in the … [More]
