Posts Tagged ‘decision making’

What Not To Do

Recently I was preparing for a brief talk on Michael Porter’s Five Forces Analysis, and it got me thinking of another reason I admire Porter: his great quote that “The essence of strategy is choosing what not to do”. Working on a new strategy, tactic or general idea is exciting. Enthusiasm grows, energy abounds, and…

Read More

SLA Annual Conference, June 2018

Before starting my own consulting practice I worked as a strategist for a software company, where our clients were information professionals and special libraries. As such, I remain an active member in the Special Libraries Association, and just recently returned from the 2018 annual conference. Operational departments face the same challenges as “on the spot”…

Read More

How to Use Competencies

Let’s take this back where it all started: several weeks ago we talked about how challenging hiring can be.  Especially for small businesses: it is a high risk endeavor, which consumes a great deal of time and raises more uncertainties that it does answers. Problems arise early in the process, though they sometimes only become…

Read More

Hiring Costs More Than Money

Hiring new employees can be exciting. It points to a business growth, an opportunity for change and a chance to improve the division of labor and job responsibilities. It is also both high cost and high risk. This is not a good combination. The cost of a bad hire is much more than the salary…

Read More

Plan for Change

“Predictions are hard, especially about the future”. Regular readers of the blog will know about the importance of adaptability in business. There will always be things, beyond your control, affecting how you do business. The only constant is change As you adapt to new circumstances you simply tell your employees and clients that you have…

Read More

Professional Patois – Low Hanging Fruit

Low Hanging Fruit In sales, a person who can be easily persuaded. In other words, focus on the prospects who will convert easily and quickly. In productivity this is a task that can be easily done and marked off your list. Many people apply this approach so they can feel accomplished easily, and hope it…

Read More

Making Decisions: Gut vs Data

Another question that recently came my way: These days there is so much fuss about making data based decisions. When should gut feelings come into play in decision making? In making business decisions, should you favor your gut instinct over your data? These two things – gut and data – are not in competition. What…

Read More

Qualitative Cashflow Management

It’s not how much, it is just “how”. How does good cashflow management provide solutions to problems before they arise? Your business plan is alive and dynamic. The financial part of it is no different, it is evolving with you and is continuing to inform your decisions. Tim Berry, founder of Palo Alto Software, defines it…

Read More

Strategy vs Tactics

Understanding the difference between strategies and tactics (and, I would add, goals) is key to good business planning. This is subject matter I have covered previously and which, I am sure, I will cover continuously throughout this blog. I never tire of effective ways to differentiate these elements, and was recently sent another gem to…

Read More

Nelson said it best

Admiral, that is. This follows on last week’s post about the importance of a Mission Statement in allowing for adaptability. Bear with me. Last year I had the pleasure of hearing Lindsay McGregor speak about her book Primed to Perform, while working on new systems for a company with a growing sales team. McGregor and…

Read More