What is a Single Point of Failure? It is when your business can tumble drastically, or even collapse if one major dependency fails. Look carefully at your business. Can it operate without that one person, machine, system, or even one huge client? In various ways almost all businesses have some weak point of failure, and…
Any person that sells both hours and offers services on a fixed price basis has a mixed mindset. And it doesn’t work. People are trained to think in terms of hours or results, it’s mutually exclusive. When people are billing hours in the month as well as having some projects on a fixed price they…
People often question me how a Team that is spread out over multiple locations can possibly bond in the same way that a Team can who works together every day? I have this to share with you dear reader – I have worked with both physical and virtual Teams and can report that the current…
When I speak about awesome service to business owners, they almost always agree that it is crucial. They also tell me they have it. Yet when I ask them to show me the systems they have in that area, I get a blank stare… Isn’t awesome service just something you do? Doesn’t that come from…
Kindly note the word “conservatism” in accounting has absolutely nothing to do with whether you vote conservative, liberal, or NDP! Ok, now I’ve got that out of the way, let’s define what it means in accounting. Conservatism in accounting simply means this – that revenue is recognized only when it is assured of being realized…
Last week I wrote about cash-flow and referenced a great blog from an accounting software website. This week I am going to touch briefly on Part 2 of that Blog and link part 2 below for you to read. Rhondalynn Korolak writes in part 2 about 5 symptoms of a poverty mindset around cash-flow. They…
I just read an excellent blog on an accounting software website, and I am going to reproduce it full this week because it is just sooooo good… She talks about patterns and how a 12-year-old Canadian boy discovered a Mayan city, never known, from studying star patterns in his bedroom using Google Earth. What does…
In Africa, I sometimes get approached by young people to fund their businesses. I offer something much more valuable – my time. I offer to coach them. And, surprisingly, no one has taken me up on my offer. Not because they think my coaching is valueless – they have just been brainwashed to believe that…
The other day while visiting a washroom in Kenya (you know, nature called) I saw a laminated newspaper article attached to the wall about how important clean washrooms are to a country… Maybe you are thinking along these lines – how can clean washrooms, while important for hygiene, be an indicator of business success? Here’s…
Never retire. I repeat – never retire. Retirement means what? It literally means the act of retreating, withdrawing. I hate the word. A good friend of my wife and mine is 90 years old and working daily. I will never forget his expression: “I will retire when I expire”. His mind is sharp, his health…