Most marketing is a waste of money. Too many business owners are frustrated by failed marketing efforts. They think (hope) that marketing magically leads to sales. This is especially true for many early stage companies. Founders believe they need to raise gobs of money to spend on marketing. But no amount of marketing will overcome …
50/50 partnerships are doomed to fail. When setting up a company, it is easy to default to equal ownership. But things can change. They usually do. Eventually everyone’s real value becomes apparent. Sometimes value changes over time. But ownership is not fixed. If you feel like the ownership percentages aren’t right between you and your …
Business plans are a waste of time. Life is more dynamic than a business plan suggests. I love the proverb that says, “The work will teach you how to do it.” Learn as you go. Experiment constantly. Be nimble and flexible. Stop overthinking and start acting. I’ve never created a business plan in any of …
We did a full-day quarterly planning session with two of our companies over the last week. I was worried we weren’t ready to process everything going on in the business. I was worried we were still just putting out fires; that we wouldn’t be able to see the big picture or create a clear go-forward …
Cash flow, cash reserves, and profitability have never been as important as they are today. Our society has been enamored by venture-backed companies that focus almost exclusively on revenue growth. That means some businesses are being exposed like never before. Even though everyone knew the good times couldn’t go on forever, many business owners still …
To my entrepreneurial friends: Have you used EOS or Scaling Up to grow your company? Using an operating system has allowed us to get everyone moving in the same direction, speaking a common language and measuring the right things. It’s been a key to successfully scaling our businesses. We use Gino Wickman’s EOS (Entrepreneurial Operating …
Everything good in my life, both professionally and personally, has come in collaboration with partners. I’ve spent my entire life learning to be a good partner, and proving out a unique partnership model.
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