Remember 25-years ago when hotel reservations were made by calling an 800-number? I recently reverted back, making a phone call to book my hotel reservation and, in the process, gained a Lesson Found. (more…)
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Is your business’s customer service consistently excellent?
Is your business’s customer service consistently excellent?
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Are your goals keeping you on target?
Are your goals keeping you on target?
Lessons Found for businesses can truly materialize from unexpected sources. For instance, a valuable Lesson Found on business goals can be gleaned from a podcast contrasting two approaches to teaching (more…)
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How older adults can increase sales revenue.
How older adults can increase sales revenue.
A recent article highlighted 94-year-old Martin Gerstell’s regular use of Uber. Uber’s and Lyft’s efforts to market to Mr. Gerstell and his peers are the inspiration for this week’s Lesson Found.
It seems counterintuitive for Uber and Lyft to be directing marketing toward seniors. But a closer look reveals the opportunity. (more…)
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Enhancing Conversations in the Board Room & Family Business
Enhancing Conversations in the Board Room & Family Business
I recently was privileged to sit in on a board meeting for a family business. How the board came to a decision on a contentious issue is a Lesson Found for all of us.
The business’s only remaining founding member* started the debate with an impassioned plea (more…)
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Establishing Internal Controls Which Enhance Growth
Establishing Internal Controls Which Enhance Growth
In January, headlines reported the dramatic collapse of QuadrigaCX, Canada’s largest cryptocurrency exchange. The source of QuadrigaCX’s problems provides a vital Lesson Found for owners.
Initial reports tied the cause of QuadrigaCX’s collapse to the death of its founder, Gerald Cotten, since he was the sole person who knew the passwords to access cryptocurrencies valued at $136 million. A subsequent audit revealed that a large portion of those funds had been redirected (more…)
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Don’t Assume Your Way Past Higher Profits
Don’t Assume Your Way Past Higher Profits
I was reminded of the alternative definition of “assume” during a recent visit to the hospital with my mother. That definition offers us a Lesson Found on the importance to business owners of looking beyond their assumptions. (more…)
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Will your plans protect your company from Petering-out?
Will your plans protect your company from Petering-out?
My son and I started watching Game of Thrones; him for the second time and this is my initiation. After GOT’s disastrous season 8, my son asked if I wanted to watch that final season. That is where this Lesson Found begins. (more…)
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Is your successor ready for leadership?
Is your successor ready for leadership?
Greeks elected a new prime minister last week, Kyriakos Mitsotaki, who is also the son of a former prime minister. His ascent as leader of Greece offers a valuable Lesson Found for family businesses.
Mr. Mitsotaki’s election is the culmination of his path into the “family business”. (more…)
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How to Survive Summer in Your Home Office
How to Survive Summer in Your Home Office
When I began my consulting practice, a major reason for choosing to work from home was being able to spend more time with my son who was 11 at the time. Then the school year ended and summer started. That experience is the source for this week’s Lesson Found.
Anticipating that summer, I thought my son would entertain himself while I worked. This “logical thought” was quickly challenged by reality the first week of summer vacation. (more…)
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Is the investment of time sinking your decision making?
Is the investment of time sinking your decision making?
My 20-year old son, Jeremy, and I often discuss various business-related topics. Recently that topic was the “sunk cost fallacy”* which I explained is the mistake of using money and time already sunk into a project as the deciding factor to continue the project. A junior studying computer science, Jeremy immediately compared this to “coding” (aka writing computer code). This relationship between sunk costs and coding is this week’s Lesson Found. (more…)