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]
Financial Statements: The Crucial Monthly Close
How is your business doing lately? As an owner, you probably have a sense of how things are going, but is it right? While I have developed a great respect for an owner’s “gut feel” over my 40 years of consulting, there are many illusions and counter-intuitive aspects to business that can mislead owners. A common counter-intuitive illusion is that if sales are increasing, things … [More]
Are You Prepared for a Crisis?
The fire alarm rings. Instantly, trained personnel leap into action. The dispatcher pinpoints the location and provides clear directions to the firemen and firewomen headed to the scene. Upon arrival, the first responders assess the situation and react with seamless teamwork and precision. Everyone has a role to play, everyone is prepared and the situation stays under … [More]
Restaurants: Setting the Table for Business
To the casual observer, the restaurant business is exciting, even glamorous. Many chefs and restaurateurs enjoy household-name status and snag as many headlines as rock stars. Plus, being a foodie is hip, and the public fervor for flavorful fare makes restaurants more vital than ever. Add to that the fact that Arizona is seen as a growth market, and it’s no surprise that … [More]
Ask Straight Up — and Close the Deal
Most salespeople, when it comes down to it, are downright scared of being direct and to the point and telling people in no uncertain terms, “Here’s what I want!” Think about it. There’s a conspiracy that encourages people to bury their most important wants and desires. Marketing trainers use consultative selling to draw people out. Social media consultants say, “Selling … [More]
