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There are lots and lots of people who are affected by your company. Even if you’re a super small business, you still have yourself, your family, customers and partners.
As you grow, you’ll include employees, their families, and an ever-growing array of people to whom you deliver value.
This is why the concept of “stakeholders” is so powerful. Typically we’d talk about shareholders, but that’s a really limited view of success and impact. Focusing too much on shareholders is dangerous, and can lead you to some really unbalanced decisions.
My best clients realize that their business also contributes to the larger community. I’m not just talking about charitable donations, either. They’re making a powerful difference to peoples’ quality of life and helping to solve larger problems. Read the rest of this entry »
As we head forward into 2018, I’m hearing various questions and concerns about the uncertain future.
- We might see a big housing bubble.
- International relationships are jumping all over.
- Customers and markets are acting in unpredictable ways.
The truth is that there are always concerns, questions, and issues. When we look back in time, we see the patterns. But while it’s happening?
Not so easy.
For me, 2016 highlighted some important things about how we think.
It was amazing how much energy and attention was put into the presidential election. It consumed every waking moment, as if aliens had landed on the planet.
The fact is that government does what it does. Sometimes it affects what we do in our businesses, but mostly other things are far more important. Read the rest of this entry »
I took some time at my quarterly review to think a bit more deeply about some of the investments I’m making in my business. With my money, yes, but also with my time.
And being an analytic, one of the most helpful tools for doing that is a Return On Investment (ROI) calculation.
What’s fascinating for me is how much I can learn by doing this exercise: Read the rest of this entry »
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