How Do You Find Your Purpose?
If yours is like many organizations, you and your competitors are trying to serve a similar purpose to your respective clients. That is true if you look only at the surface. It is how you see the challenge of purpose that counts. Most times I find leaders trapped in a box. That box revolves around…
Are You a Growth-Oriented or Execution-Oriented CEO?
One question you may want to ask yourself is, “What kind of CEO am I?” My observation over the years is that most CEOs fall into two categories. The first category consists of those that are very growth-oriented, focusing mainly on sales and marketing activities. They find money everywhere. Remember my “Revenue is vanity, profit…
Why Purpose Matters?
The day you start your business, you should place “Purpose” at its forefront. This is a critical issue that fails to get enough attention. Many business owners that are asked, “What is the purpose of your business?” will answer “to make money” (or something similar). You might be thinking, “Isn’t that the purpose of being…
Customer Concentration Is One Of The Biggest Risks To Your Business!
You may be focusing on the wrong indicators in your company. Your revenue may be growing, your profit margins good, and your net profit plentiful, yet you may be close to impending problems. Customer concentration is one of the biggest risks to your business so you must make it an important part of your key…
Are You Targeting the Right Market Segment?
The predictability and consistency of your revenue growth rate are important measures of the health of your business. A key to driving your growth is targeting the right market segment. Positioning your company in a growth industry, market segment, or sector is crucial to the continued success of your company. In order to have future…
7 Levels of Recurring Revenue
The most successful companies put tremendous emphasis on having recurring revenue streams. Are you looking at recurring revenue in the right way? Which type of recurring revenue drives increases your business valuation the most ? The higher the level of recurring revenue, the more predictable your revenue stream becomes. The more predictable your revenue stream, the better you…
Is There a Difference Between Innovation and Disruption?
The Technology Leader Awards Committee of the Greater Miami Chamber, of which I am the recurring chair, met the other night. We were establishing the categories for this year’s awards when a great question arose. Is there a difference between innovation and disruption? It stimulated a spirited discussion among the committee members, and I realized…
Difference Between Strategy and Tactics
Do you know the difference between strategy and tactics? Most leaders who think they are talking about strategy are really stuck in tactics. Many times it is hard to see the difference. A business owner called me today because he read “Mastering the Rockefeller Habits 2.0 Scaling Up” by Verne Harnish and was honest in…
Are You Ignoring a Bad Business Strategy?
Are you ignoring a bad business strategy? Your business strategy is a determining factor in whether your sales “will” or “will not” grow faster than your competition’s. Does your business have an “unusual offering” that is critical in the buying decision of your target customer or not? Most businesses either have an “unusual offering” that…
Business Strategy Based on Knowledge Instead of Belief
Is your business strategy based on knowledge instead of belief? If you are like most entrepreneurs, you are not collecting enough external data when making your business decisions – and it will cost you millions over your lifetime. It may even cost you your business. “Why?” you might ask. The answer is that too often…