A three-tiered approach to the monetization of data that follows the framework of Aggregation, Analytics, and Actionable Predictions.
Just about every business is awash in data these days. From data about your customers and their buying habits to data about the market in general, you have an enormous amount of information right at your fingertips. But the question then becomes: how can you monetize that data? Continue reading How to Monetize the Data in Your Business
The best negotiators don’t look for win-win behaviors, they try to find a lose-lose compromise that everyone can accept.
When it comes to negotiating a deal, we have all been taught to try and find a so-called “win-win” solution. But when you watch the best negotiators in action, they actually use a very different tactic. Their goal is to strike what you might call “lose-lose” deals.
Let me explain. Continue reading The Secrets To Lose-Lose Negotiation
Thousands of hours have been wasted talking about mission statements that are, quite frankly, boring. The best mission statements, are both inspirational and to the point.
Mission statements are critically important to your organization because they drive alignment in your organization toward the vision of what you want to get done. That’s why it should be the inspiration that your organization rallies around. Unfortunately, many thousands of hours have been wasted talking about mission statements that are, quite frankly, BORING!
Continue reading Apple’s Boring Mission Statement and What We Can Learn From It
A great way to become a better leader – fast
Serving as the leader or CEO of an organization of any size can be a difficult and lonely job. Fortunately, there are many tools available to help you become a better leader–including things like going back to school to get your MBA, reading books, and, of course, learning on the job.
But there is also another way to accelerate your learning curve on your way to becoming a better leader: by joining a CEO peer group.
A CEO peer group is a made up of a group of CEOs, ideally who run companies of similar sizes and complexity, that meet regularly to work through business-related issues. These groups are either facilitated by a member of the group or by an outside professional who has deep business expertise. Continue reading Top 10 Reasons to Join a CEO Peer Group
If you consistently create high value time – you can double your income
If you ask any businessperson what the most valuable thing they can do, they all likely have the same answer: work on their billable hours.
Continue reading Double Your Income by Knowing the Second Most Valuable Thing You Can Do With Your Time
Being the leader of a business isn’t always glamourous. More often than not, your time is going to be spent figuring out where your company went wrong.
In the book Great CEOs Are Lazy (Inc. Original Imprint, 2016), leadership consultant Jim Schleckser argues that the best CEOs aren’t the ones who spend 100 hours every week at the office–instead, they are the ones who know how to effectively spend their time. In the following edited excerpt, Schleckser, the CEO of the Inc. CEO Project, a coaching and peer advisory organization, explains why that many executives struggle to find time to address organizational problems.
Continue reading The Single Most Important Job of Any CEO
It all begins with answering a crucial question: What makes your business unique?
Southwest Airlines, Google and the Ritz Carlton are three of the most successful companies around. But what makes each of them so successful?
The answer is that all three of these companies have a crystal clear understanding about what their basis for competition is and have completely aligned their business around that.
Let me explain, with a nod to Michael Porter and Brian Tracy.
Continue reading The Secret to the Success of Southwest Airlines, Google, and Ritz Carlton: It’s Not What You think
Eventually you can’t count on superhero employees and have to deploy systems if you want to scale.
In the earliest days of most companies, entrepreneurs can’t afford the systems that exist in bigger companies. Instead, entrepreneurs rely on hiring super-talented people skilled in doing everything from serving clients and delivering products to closing the books.
Continue reading How to Scale Your Company By Shifting From Talent to Systems
While lots of mergers fail, and if you had to pick one reason – it is companies rushing in without really vetting the potential match.
It seems there is news everyday about a proposed merger or acquisition between two companies. While buying another company is certainly a viable strategy for helping your company achieve your long-term vision, the statistics about the failure rate of acquisitions is certainly sobering. One KPMG study found, for example, that 83% of all M&A deals end in failure.
Continue reading How to Try Before You Buy a Company
Warren Buffett knows great financials are critical to the success of any business, they are really just outcomes from having a strong “machine” and an impenetrable “moat” for your business.
When you ask most CEOs about their vision for their business, they usually give you an answer built around metrics like number of customers, market share, or profitability.
But what I would argue is that while all of those numbers are critical to the success of any business, they are really just outcomes that result from having a strong “machine” and a “moat” for your business. Continue reading Moats and Machines: How Warren Buffett Analyzes a Business