Leaders with people in their business who are looking to increase their bottom line have a choice regarding how to do it. Let’s assume you produce $100 worth of goods or services with $20 of labor input yielding $80 of profit. You can try to cut 25 percent of your labor cost to produce that […]
I came down to breakfast the other morning and my wife had an exasperated look on her face. When I asked what was wrong, she said, “I just want to be as smart as a squirrel!” We have multiple bird feeders in our yard, and she has purchased many devices to foil the squirrels’ ability […]
A common and vexing issue that I’ve seen boards and management teams struggle with is balancing the company’s short-term results achievement with its future environment. Too often this devolves into a polarized debate about the efficacy of looking out five, 10 or 15 years. The current P&L-focused group members thumb their nose at the long-term […]
For many years, Avis’ advertising slogan was “We’re No. 2. We try harder.” Similarly, Pepsi had a mission statement that simply said “Beat Coke,” and Nike vowed to “Crush Reebok.” One of my favorites was the giant industrial company Komatsu, which focused on beating Caterpillar with the battle cry “Eat the Cat.” Alternatively, there are […]
A friend asked me if I knew a guy the other day, and I said something like, “Yeah, but what a cold, indifferent cat he is!” My friend responded, “Are you kidding? He’s a great guy!” Shame on me. He is a great guy once you get to know him. The fact that he’s introverted […]
I’m on my third cup of coffee sitting in my warm home office looking out the window — where it’s 10 degrees — at a woodpecker banging away at one of our trees. My wife says it’s an ash. I wouldn’t know an ash from my own … forehead. She also thinks the tree has […]
If you’re fascinated by business strategy, by how you can address a market differently than everyone else, you might enjoy this story. If you’re just trying to be like everyone else, skip this one and crawl back into your hole. I recently had coffee with the founder of a successful company in the outdoor product […]
What truths are you avoiding? It is important to be “all in” when you decide on a strategy. Alignment of your team and your investments is the quickest path towards success, as long as you choose a viable direction! However, you need to make sure that you are not ignoring the truth just because you […]
I had the business equivalent of the the chicken vs. the egg discussion with a colleague the other day. Which first, people or strategy? He voted egg, but I’m a chicken guy. Getting the right people on the bus, as author Jim Collins suggested in his book “Good to Great,” is imperative. But like all […]
If you spend any time in outdoor retailers, you’ve probably seen YETI coolers. If you’re part of the hook and bullet crowd, I bet you own one or two … and perhaps needed a second mortgage on your house to buy them! The first time I saw a YETI cooler price tag at REI, I […]