Back in 1876, an internal memo for Western Union, then the leading telegram company, confidently declared: “This telephone has too many shortcomings to be seriously considered as a means of communication.” They believed it was a technology without future. Meanwhile, just four years later, Henry Morton, president of the Stevens Institute of Technology, had this …
Continue reading “Why Your Cashflow Forecast is Usually Wrong”
What day of the month does your mortgage payment leave your bank account? Don’t worry, I’m not expecting you to write back and tell me. But bear with me a second. I’m pretty sure that you knew the answer to that question. It’s just as likely that you know what day of the month you …
Continue reading “Just 27% of Businesses have this…(Do you?)”
Each time you review your pension, your advisor asks you this question… “What level of risk are you comfortable with?” The investment strategy you pursue depends on whether you identify yourself as a low-risk, medium-risk or high-risk person. It’s time we ask ourselves the exact same question again – this time as business owners. You …
You know the ONLY thing that ever kills a human being? The moment when their heart stops. I mean, technically, their body may have been brought to that point by any number of factors – disease, injury, old age… Their body may have suffered any number of failures. But as long as their heart is …
Continue reading “The ONE thing that can kill your business”
“Yes, of course, I’ll pay you… I am SO sorry that the invoice is overdue. “We’re just waiting for a bit of money to come in from our own clients, then you’re first on our list… Again, I apologise…:” Most companies have had that conversation with a client at one time or another… …And even …
Continue reading “The hidden danger to your company: Your clients”
It’s one of the most famous movie scenes of all times. During Ben Braddock’s graduation party, a family friend takes him aside, and gives him a friendly piece of career advice… “I want to say one word to you. Just one word… Are you listening?” “Yes sir.” “Plastics.” Had they been filming The Graduate today, Mr McGuire …
Continue reading “The biggest danger right now? Over-confidence”
One of our clients has a training business. And since the Coronavirus crisis erupted, they’ve been experiencing a surge in demand – particularly for online material. They quickly adapted some of their face-to-face courses so they could be moved online (a process that was underway anyway, but which was significantly sped up). And now, they’ve …
What’s the opposite of a business that is fragile? Until recently, I would have said a business that is resilient, and which is built to withstand shocks and turmoil. In fact, that’s been one of my themes over the past few weeks. As we gradually emerge from the Coronavirus restrictions, your business needs to spend …
Continue reading “The opposite of a fragile business is… (Not what you expect)”
Hiking to the top of a mountain sounds intimidating, right? That’s why most serious climbers spend months if not years developing the physical prowess and mental resilience to conquer the peak. But research shows that’s not actually the hard part… The real danger is coming back down the mountain! That’s when 75% of accidents occur, …
Cast your mind back nearly 20 years to another epidemic that hit our shores – Foot And Mouth disease. This epidemic spread rapidly amongst cattle and plunged the agricultural industry into a terrible crisis. But there were others who were affected too. For example, if consumers became afraid to purchase meat, that was going to …
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