Blog
Who’s On Your Bus?
By Tom Cramer
We all have a variety of opinions about the thousands of business books that are available, many promising to answer all your questions. While we know that few of them deliver on that promise, there are some gems every business owner and manager should take time to read and contemplate. Jim Collins is an author who has cracked the code in speaking about several practical business issues and how to help be better operators. His first book was Built to Last and speaks to key elements for long-term success. A later book, Good …
Checkpoints for Yearend and More
By: Tom Cramer
No doubt about it. These are challenging times for leading a business enterprise. CEOs, founders, and professional managers of small and mid-sized companies are feeling pressed on many sides while recovering from the pandemic, dealing with a new management environment, and wondering what new concerns the economy will deliver in the coming year. The Leadership Turf The stark reality is that managing a successful enterprise has always been and always will be a tough job. It may not be what you thought it was going to be when you …Managing in a New Environment
By: Tom Cramer
Many experts in the field of management and human resources are writing and speaking about the unprecedented management environment they are witnessing. Something of a perfect storm over the past decade has encompassed the growing role of a “new mindset” among younger workers, the impact of the pandemic, and the adjustments required in a post-pandemic environment. Beyond the Great Resignation These and other realities are forcing successful managers and leaders to recognize two essential facts. First, the situations they face today are different from those of just a few years ago, and often …
A Fresh Look at Cybersecurity: Zero Trust
By Tom Cramer
One of the greatest dangers of business risks is becoming numb to them, allowing them to become a “new normal”. For the past decade, a continual stream of warnings about cyber threats and cybersecurity has created such a state for many business owners. There is almost a fatalistic attitude that develops. It’s “I’ve taken all the reasonable steps; I don’t know what else to do.”
Increasing in Frequency and in Damage Unfortunately, that is increasingly a dangerous attitude to take in the face of this growing problem. According to a recent …
Valuation: What is it? & Why is it Important?
By Tom Cramer
Sports serve as a frequent metaphor for business, and that concept is particularly relevant in one key aspect. In the final analysis, it is all about the points on the board. It is not about trying or effort or intention, it is about the balance sheet and the valuation your business will support. These are the concrete metrics that reflect the end results of all your efforts as a founder and as a manager. Providing a Baseline Most business owners and managers understand what a balance sheet is from a technical, accounting perspective. …
Intellectual Property and Your Firm’s Valuation
By Tom Cramer
There are few people who are not aware of the story of the “locked away formula” for Coca-Cola. In fact, the whole story is now a major exhibit at the World of Coca-Cola in Atlanta, Georgia. What few realize, however, is how the formula for one of the world’s most ubiquitous products has been protected – and remains secret – after more than 100 years. The formula is what is today generically referred to as Intellectual Property. Specifically, the formula for Coca-Cola is …
Your Exit Strategy: Accidental or Purposeful?
By Tom Cramer
Failure in business is a part of the free enterprise system, and it is often beyond one’s control. Changing economies, hyper-competitive, disruptive technologies, and other factors often bring about unanticipated challenges and difficulties. While effective planning and strategic oversight are just a few of the factors to help anticipate these threats, they are often not enough. Planning for Success or Failure However, the exit strategy you adopt and work towards should never be left to circumstances. Waiting for a heart attack or a disruptive market player is not choosing an effective exit strategy. One of …
Branding: Five Key Questions
By Tom Cramer
One of the most pervasive topics in today’s discussions about marketing is that of branding. That reality makes it even more intriguing that the elements of branding remain largely misunderstood by many. It is easy, of course, to recite a definition of what is meant by the term "branding." According to the American Marketing Association, “A brand is a name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers.” While that seems straightforward, it …
