Business plan

May’s WWII and Military Lessons for Your Organization

May is the month we recognize and remember several aspects of our military:

VE Day (70th Anniversary – May 8th) recognizes victory in Europe in WWII.
Armed Forces Day (May 16th) recognizes those currently in service.
Memorial Day (May 25th) recognizes those who died in war.

Memorial Day began as women, individually and in clubs, decorated the graves of Civil War soldiers with flowers. It became formalized, first in the North and then the South, as Decoration Day. Later, soldiers from World War I were added. Eventually it became a federal holiday in recognition of all our military members killed in war.

Leadership and Management Lessons

Military planning is the basis for strategic and business planning in most companies. While military leaders understand that all planning is overcome by events, they also know that smart planning is the basis for success. That is true for your organization as well! Too often we are so busy with reactive work and daily demands that planning drops to the bottom of a to-do list that we already never get to.

A plan will help you succeed faster and better. No small to mid-size organization needs some elaborate plan put together at great time and expense. Book an hour a week, preferably not in your office, and try to capture your vision of the future you want. A one-page summary would be a real achievement. And one that can be readily shared with employees, board members, or other stakeholders!

A recurring lesson, since President Lincoln replaced General McClellan after Antietam, is the importance of execution to success. Your ability to execute is what keeps your future positive. At far too many clients, I have seen the results of endless debates about next steps or conflict avoidance […]

Common Small Business Problems Hinder Success

One of the advantages of consulting is that you get to see others’ mistakes. And learn from them. I have made more than my fair share of mistakes. Yet, I still am surprised by how often the basics underlying how you run your operations are the most common small business problems.

Good administrative processes will support and enhance your ability to grow and succeed. Set them up early and properly to be effective. Boring work, probably. Critical, yes!

Financial literacy is quite low in the US.

Whether you are a financial whiz or barely understand cash flow, you need effective financial processes in your business. You need a system that is right for your size and work. But you also need to understand and use it. Get basic training. Or hire someone to help you set up your own chart of accounts and understand what your system can do for your business. Then add help to maintain it as needed.

Your ability to manage your cash flow is critical to your success. And your tax returns are far easier with a good system. So is your planning!

Yet… recently it was a long-time business owner whose bank account was overdrawn before he realized he had not seen his outside book-keeper in months and his employee was not entering everything correctly. Last fall it was a CEO who had not made payroll on time – again; but thought employees should understand good intentions!

And don’t even ask me what happens to firms which do not pay employee tax withholding on time – think locked doors, seized bank accounts, personal assets at risk.

How are you hiring and paying for services your business needs?

Do you have employees? Independent contractors? Contractors or consultants? Interns?

Tax and labor laws […]