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Six Steps to Running a Successful Business

By | Business By The Book, Ownership & Purpose, Uncategorized | No Comments

It should not be a surprise to anyone that the entrepreneurial spirit is what drives America. According to statistics from the U.S. Small Business Administration and the U.S. Department of Labor, small businesses and start-ups are responsible for creating two out of every three new jobs in the country.   And more than half of all working Americans own or work for a small business. However, it is also true that statistically, only half of all new establishments survive five years or more and about one-third survive 10 years or more.  If you already have a business or thinking about having…

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Business and Faith Connected: One Man’s Journey

By | Business By The Book, Ownership & Purpose, Uncategorized | No Comments
Waiting on the Mist to Lift

He told his wife he’d be a millionaire by age 30. But that year he was forced to file for bankruptcy protection. Phil Drake worked a feverish 100 hours a week — his business’s debt was six times as large as its income. His wife was left to care for their three young children — living on food stamps. And the IRS was knocking at their door — threatening to shut him down. He thought about suicide. At least the insurance money would let his family eat. For Phil, “business and faith were not connected. God was only there for emergencies….

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How to Determine the Correct Amount of Life Insurance

By | Business By The Book, Planning, Uncategorized | No Comments
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Allow me to begin this article with a story of why I sell life insurance. Early in my career I met several times with a young couple in their early thirties with 3 young children to determine their need for life insurance. We landed on $138,000 and wrote a policy which was then rated higher than expected due to health concerns. The insured was uncertain they wanted to pay the higher cost, but after some conversation agreed to go with the policy. Three months later we got “The call”, the wife had died suddenly leaving the husband with 3 young…

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Mobile: The Latest Technology Disruption – Will You Win or Lose?

By | Business By The Book, Internet and Mobile Strategy, Organization & Strategy, Tech, Uncategorized | No Comments
Mobile Disruption

Mobile internet computing is disrupting desktop internet computing in the same way that… …desktop internet computing disrupted personal computing in the same way that… …personal computing disrupted mini computing in the same way that… …mini computing disrupted mainframe computing. And there will be many new Winners just like in past disruptions. If you are going to win, you’ve got to think mobile. So why is it that so many existing businesses have not yet gone mobile? Will you be a Winner or a Loser at the end of this disruption? The Winners have intuitive, feature-rich, easy-to-use, deeply-connected mobile apps and responsive…

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Keep it Simple and Capture the Mass Market

By | Business By The Book, Marketing, Uncategorized | No Comments
Keep It Simple

There is a movement afoot, but it is not new. It’s actually been happening for quite a while and it is picking up momentum given the extended slide sideways with the economy. The trend can be summed up as follows: a shift towards “simple” or “good enough” — call it the “flight to simplicity” if you will. This change shows up across a broad spectrum, whether is it simple living, such as cultivating a small backyard garden, or whether it is simplicity in your product line-up. Simplicity is now hip, but the idea of producing a simple, low-end offering, capturing market share at the…

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Starting Your Business – Part 4

By | Business By The Book, Channels and Alliances, Creating a Financial Model, Marketing, Planning, Uncategorized | No Comments

In the initial post in this series, I suggested a step-by-step process for launching a business. This post will focus on the first post of two posts on Step 4 – Launch, where we lay out the requirements to fully launch the opportunity you’ve decided to pursue. (See Part 2 and Part 3 for other posts on the process). Launching the Best Opportunity  In this phase, you are prepared to launch the best opportunity that was fully vetted in the earlier steps of Define, Generate, and Evaluate. If the idea passed your evaluation criteria with flying colors in Step 3 – Evaluate, you should have full confidence to move forward…

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