What do oil and water and family members who are employees in your small business have in common? They rarely mix and are frequently toxic to the environment. Although it should be noted that there are of course occasions of success, the most likely outcome is entrenched employees that are nearly impossible to remove, strained [...]
Business is war. It’s a jungle out there. Never give a sucker an even break. Nice guys finish last. It’s a dog-eat-dog world. We’ve all heard at least one of these bits of wisdom in our lives. Some of us even use them on a regular basis to describe business or personal philosophy. Though they [...]
Do you have an employee who is always late? One who makes or receives personal phone calls daily or one who sneaks out a couple of minutes early on a regular basis? What about an associate that is on their cell phone texting through out the day or who clicks off the computer screen as [...]
Stop anyone you meet and ask “what’s the biggest mistake a new business owner can make?” Odds are they won’t know. A more insightful respondent (perhaps one who knows from personal experience) might mention “undercapitalization” or “lack of cash flow”. They’re usually right. But the truth is, the biggest mistake is usually not one but [...]
As a business owner, the quality of your decision-making determines your success or failure. By decisions, we don’t mean what suit you’re going to wear or whether to go to the gym or not. Those are choices. In a decision, the issue you’re facing is unconventional. This means there’s going to be some uncertainty, particularly [...]
I contributed a column to a newsletter in March of 1992 which was headed as “Straight Talk from Gary Field, CPA.” The column started out as follows; “Last year, General Motors (GM) lost $7 billion in North America. Management’s long overdue response: close the Willow Run plant and others. The UAW leadership’s response to the [...]
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