Monitoring employee performance and holding people accountable makes many business owners uncomfortable. Many owners don’t provide job descriptions for their coworkers and spell out functions for each position. This leaves everyone confused and frustrated. Owners ask why this person doesn’t perform and employees are asking what does the boss expect them to do. Patrick Lencioni…
On this episode of ProfitSense, host Bill McDermott welcomed Mark Beal, CEO of Instead of Flowers. Mark discussed the story behind Instead of Flowers and how he came into his role, what makes Instead of Flowers unique, who his typical customers are, why a gifted meal from Instead of Flowers is received with such joy, and…
As a CEO or business owner, it’s hard figuring out what things to focus on, where to allocate our resources, and how in the world we’ll find the time to do it all. It can be overwhelming. When you’re paralyzed by all of these thoughts and tasks, it’s hard to be an effective CEO. I…
What makes an excellent CEO? It’s a question that’s often asked, but seldom answered. As with anything, it starts with mindset first, then skill set. We’ve talked recently about the importance of CEOs having a direction-setting mindset and being bold, and an organizational mindset where they create strong culture and stable, but agile companies. Once…
One of the topics I talk about most with business owners is accountability. Each situation is different, but rarely do I have a client that doesn’t struggle with accountability at some point over the course of owning their business. One client right now has run a very successful company for over 48 years. But when…
Every business owner wants to maximize cash flow and profitability. But, one of the most common missteps they make is not having the right people in the right seats. Specifically, leaders and managers. This can cause confusion and frustration for staff, as well as management, when there are people in roles that don’t play to their…
John D. Rockefeller was a famous industrialist and philanthropist. He founded Standard Oil Company and became the world’s richest man controlling 90% of all in the US at its peak. His fortune at his death was $23 billion in today’s dollars. He was also well known for his generosity and donated over $500 million to…
Last week, we had an overview of “3 Tips to Manage The Madness In Your Business.” The first tip was shortening cycle times. Depending on the type of business you’re in, all of us have a sales cycle, delivery cycle and a billing/payment cycle. If you’re a product, manufacturing or contracting company, you also have…
Sometime ago I read an article about Pete Maravich, former LSU and NBA basketball player and what made him so successful. When asked that question by the sportswriter, he answered “before I take the shot, I can’t see myself missing.” While it would be easy to interpret that comment as arrogant, the article stated that what he…
Trying to grow your business and having a hard time? Join the club! Growing your business can be one of the most challenging things you do. If you’re having a hard time, here are 5 of the most common barriers to growing your business.
End of content
End of content