Do Business Well

Getting focused on outcomes is one thing. Figuring out which outcomes _are right is something else entirely. So how can you define the right outcomes? Of all the things your people could be doing, how can you know which are the few things they should be doing?

Well, as you would expect, we can’t offer you a step-by-step solution. First, it takes a certain talent to hear the siren song through the clamor. Second, even if you have this talent, this talent to focus, to discriminate, then you will undoubtedly have your own way of deploying it. What we can offer you are some deceptively simple guidelines from some of the world’s great managers. Continue Reading »

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4. You lose your location. You can insure your building against destruction through fire, flood, or earthquake. You can also purchase business-interruption insurance that is supposed to give you enough staying power to reopen in a new place. What if you don’t have that insurance? Or you have a month-to-month rental, and your landlord gives you notice? Maybe you miss a lease payment, and the building’s owner holds you to the letter of the lease and kicks youout?

For many businesses, this type of disaster in the early going isall but insurmountable. This is especially so where there has been a large investment in build-outs, signage, or fixtures that can’t be easily transferred to a new location. Here are some approaches thatmight save your bacon. Continue Reading »

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2. Gather as much information as you possibly can in the time available. Ask questions of those who are likely to be affected. Give a call to someone who you believe has faced a similar dilemma. Go to the library and bookstore to see what may have been written on the subject. Call your CPA, attorney, or other professional who may have insight into the situation.

A few years ago, our product liability insurance policy was canceled. This was during one of those times when the commercial insurance companies were losing their shirts. The company who had written our policy decided to get out of commercial insurance altogether. The obvious first call was to an insurance agent, and then another, and another. It soon became clear that the normal method of securing new insurance was not going to work. No one thought we had a chance of getting a policy. Continue Reading »

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