When I was a teenager, my mother and stepfather got divorced and my mom and I moved to a mountain community and lived in a cabin that my aunt owned. We lived there while my mom ran a bakery that she had purchased with the proceeds from her divorce. The mountain cabin had no insulation,… Read More »
THE 10,000-HOUR RULE
In Malcolm Gladwell’s 2008 book Outliers,he coined the term “the 10,000-Hour Rule” in which he explained that to become an expert in almost any field requires 10,000 hours of practice. Gladwell provided examples such as the Beetles, Bill Gates, Michael Jordan, and others whom after practicing for 10,000 hours became experts in their fields. The… Read More »
The Not So Good, The Bad, and The Ugly
Let’s talk about some of the major issues that will undermine your relationship as a business owner with your banker, in order to avoid them….Read more »
Develop Succession Plans
As a business owner, you need to plan for the unexpected as well as for the potential succession of your business. Here’s why it’s important….Read more »
Be Proactive
A well-managed business operates proactively rather than reactively. Having a plan shows bankers you are not a risk to the bank. Here’s how to display planning….Read more »
Express Appreciation
Just like you want to have a relationship with your customers, your banker wants to have a relationship with you. Let’s talk about what that looks like….Read more »
Focus on The Customer
The reason you are in business is to meet customer needs, and bankers like seeing customer-focused businesses. Let’s look at how to show your banker your focus….Read more »
Demonstrate Professionalism
Your banker is a professional, and as a business owner, you should present professionally as well. Here’s how to demonstrate professionalism to your banker….Read more »
Engage Advisors
You may be skilled in your particular craft, but there’s many aspects of a well-run business. If you do not have these skills, here’s how to find those who do….Read more »
How Do You Value an Hour of Your Time?
BUSINESS BREAKTHROUGH #9 I often ask owners and executives what an hour of their time is worth. This exercise quickly clarifies priorities and helps them evaluate the time spent on work someone else can do. It also highlights the issue most people are grappling with in the workplace these days: distractions. Think about it…. Read More »