Apr

12

2012

The One Question All Great Entrepreneurs Always Answer

A couple of days ago, a very dear friend of mine asked me and two other entrepreneurs to help him make a huge decision: whether to sell or keep his current business.

Sam (not his real name) began the meeting by telling us he has a letter of intent to sell to his current top manager.  This faithful and hard working manager has been with Sam for several years and has made a fair offer on the business.

Earlier that same morning, Sam found out that his business might be worth slightly more than the already negotiated price, perhaps 10%-15% more.   That opened up a dilemma for him.  Although for years he has desired to sell the business and move on to other options, he was now having second thoughts on whether he wanted to sell or keep the business and grow it more.

After listening carefully and analyzing all his reasoning, I spoke up and asked Sam the single most important question every great entrepreneur asks themselves before making a big decision.

Here is what I asked him.

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Apr

2

2012

A Mission Statement for a Maintenance Crew?

This week is a golfer’s heaven on earth: The Masters – A Tradition Unlike Any Other!

Over the years I’ve twice experienced the thrill of walking the hallowed grounds of Augusta (GA) National Golf Course during practice rounds of the The Masters. Although I will not be physically on property this year, I will most certainly be emotionally on the property as I watch the most exciting tournament on the men’s tour.

(Here is my personal photo of one of the most famous holes in golf – the green on #13 named “Azalea.”)

The Masters is without question the best run, most prestigious, and the most recognized golf tournament in the world.  One of the keys to it’s charm and success is the truly immaculate grounds of the course.

And naturally, just like your home course, the Augusta National grounds-keeping crew has their own mission statement.

Did you read that or skip over it – a mission statement for grass mowers & leaf blowers & plant growers!

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Mar

27

2012

Your Budget is a Moral Document

Yeah, I figured this title would get your attention.

Preposterous you say?  How can a bunch of numbers on a spreadsheet represent anything “moral”, anything with a conscious or a soul?  At first glance the statement “your budget is a moral document” might seem a little silly even outlandish.

My good friend, Michael Trebony first caught my attention with this concept when he recently posted this very statement on his Twitter account (follow Michael here). Then as I always do from Michael’s Tweets, I got to thinking about it.


Traditional leaders would argue against such a ridiculous “your budget is a moral document” stance. They see budgets as the cold, hard numbers of the business: what we plan to earn (sales), spend (expenses), and keep (profit).  It’s the ultimate, non-negotiable, and absolute measure of everything important in a for-profit business.

But think about this a minute: what does your budget REALLY represent?  Is there a higher-level to something so fundamental to business as a budget?

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