Blog

Balancing Your Perspective

By: Tom Cramer
  Split personalities are normally thought of as a problem or the key element of a crime drama. However, the successful business owner and manager is forced to develop something of a split personality to successfully accomplish their unique jobs. Dealing with the wide range of issues, challenges, and decisions faced day after day requires the ability to rapidly switch perspectives from strategic to tactical, short to long term, and people versus mission. Fighting the Tyranny of the Urgent One of the best ways to …

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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 …

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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 …

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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 …

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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 …

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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. …

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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 …

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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 …

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Recession … Are You Prepared?

By: Tom Cramer
  One of the most challenging responsibilities in managing a small- to mid-sized business is attempting to use a crystal ball. While it is your role to look down the road and anticipate the threats and challenges your enterprise may face, that can be a very tall order to fill. Economic Signals and Weather Forecasts Of course, we know there is no absolute way to know where the economy will be in six to twelve months. However, the business cycle is a reality and has been for centuries. Likewise, there …

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