Advertising is my jam. I have been making ads since I was a little kid. One of my favorite hobbies was inventing new brands and then making an ad campaign complete with slogans and spokesmen. (nerd alert, I know) I learned a LOT from my years as partner of an ad agency. One of my…
The robots can help. I’m not sure where I first heard this, but it has become one of my core values: “use money, and love people – not the other way around.” Money is a tool, and it can be a game-changing helper. But like any tool, it makes a terrible lover. Robots are the same…
Frodo gets the headlines, but Samwise is the real hero. If you want to get a picture of true friendship, revisit the Lord of the Rings series. The Hobbits stick together through thick and thin, on a wild and death-defying adventure to save Middle Earth from oppression. We are entertained by their light-hearted fun, hilarious…
One of the easiest trails to uncover hidden profit is to reduce costs – this starts with your supply chain. Step 1: Find competing bids for your suppliers. This process has several benefits. First, you’ll see where you’re at in the market, and how much opportunity there is to improve. You may have had it good…
Are you leading or chasing? It’s tempting to let the market dictate your pricing. But that does NOT have to be the case. As I mention in my book, there are several antidotes to a commodity war, such as strong branding or excellent customer service. The bottom line is… Don’t let competitors set your prices. Let your value set…
The shortest path to growth. Acquiring another business in your industry can be a powerful way to grow without reinventing the wheel. But it can be a tricky trail… Even if you already have a business in mind, don’t hike this trail alone. This is where a business broker becomes your Sherpa. They don’t just find listings—they…
A little help goes a long way. I heard a story about a Chick-fil-A franchise owner in Georgia that pooled money from the entire team and bought one of his employees a new minivan. She is a single mom who was taking a taxi to work every day. He asked if she was having car…
It’s tempting, but don’t do it. Once you have identified a way to turn your business around, be careful not to let it consume you. As they say in Texas, “dance with the one that brought you” – don’t ignore the main part of your business. It’s tempting to fall prey to “Shiny Object Syndrome”,…
Rocket speed leads right into profit. I once had a team of very talented graphic designers that produced fantastic work at an impressive pace. One up-and-coming star designer was having difficulty with his computer. It was slowing him down, which was costing us real money. It was an older machine, likely the oldest and slowest…
Everybody wants to live out their purpose. But how do you live in your purpose? You have to create margin in your life. The most practical and tactical way to live daily in your purpose as an owner is to make your business more profitable. If your business has breathing room, then you can actually set…