ShawnHessinger commented on the following stories on BizSugar
Hi Ken, I can remember some years ago reading a fact sheet from the SBA suggesting that most companies don't fail because of lack of business but because of poor management. I'd say that falls under the very broad category of multiple poor decisions too. But, of course, the list you've provided takes a much more specific, analytical look at the types of bad decisions or poor management involved. Think there's a book in here somewhere, my friend! :)"
Isabelle, Thanks especially for the ideas on raising what you pay yourself. We're probably all a bit conservative in this area and probably rightly so, but then again some businesses just aren't making as much as they should either. Thanks also for the segment on green branding proving again that in marketing it's not what you say but what you do that counts. "
Great post Ryan, Not so long ago social media "gurus" were insisting up and down that you just could not outsource your social media under any circumstances. That never made sense to me. Though I'm in the social media management business myself, I'd have to agree there are times when outsourcing this service just doesn't work. Or there are other options in house you may not have considered that will work way better...like asking a couple of your hardcore enthusiastic employees to take turns doing it (or maybe even asking customers to participate?) But flat out insisting that outsourcing or any other strategy is just plain wrong without even bothering to fully understand a company's business model is crazy. If social media isn't one of your business's core functions (or if it distracts you from creating an awesome product or service) than by all means, outsource!"
Hi Splatforms Team, Thanks so much for sharing the social media roundup from Small Business Trends. Social media isn't just what BizSugar is about but a really vital and important part of small business today as I'm sure you know. We appreciate not only your contribution but your taking the time to share this post from BizSugar's sister site with our members. :)"
Just glanced over the post a minute ago, Alastair. I see your point. Here in the U.S. the SBA's definition of a small business might surprise you. We define big business as REALLY big, like MIT and General Electric big. May depend on the cultural context and that of the author. Still a useful discussion. Many of these kinds of businesses can often be described as small business...at least excluding income. Just my brief take. "
Hi, Sean, Interesting take on the author of "Built to Sell", named the 2010 Best Book for Business Owners by Inc Magazine and a guy who, according to his bio, has started and sold four companies and is today a celebrated speaker and angel investor. Though I haven't gotten around to reading it myself, I understand the book is sort of required reading in some business circles. You can check out the listing over at Amazon which is where I got all this info. My point is that John's something of a celebrity and revolutionary and while I have no doubt some of what he says is deliberately provocative and perhaps over the top, some of it may have at least some merit. No, I wouldn't judge someone on the basis of an MBA alone, but it is a fact that there is a difference in the basic way a professional manager is trained to think and the way an entrepreneur thinks. And, yes, it may be unwise to spend huge amounts of time drafting a lengthy business plan before you've gone out and talked to some people and maybe even closed some sales at least of a prototype so you can be certain there really is a market and that it doesn't just exist in your head. I guess my point is that while guys like Warrillow may sometimes say things for shock value their real purpose is to test assumptions. And let's face it, some business assumptions could certainly stand a bit of testing. I've read some interviews, watched some video and have really found some of Warrillow's thinking to be quite worthwhile. Like the idea of increasing the value of your business to sellers by making sure it can run successfully without you. Just my two cents. Thanks very much for participating. "
Hi Susan, Agree with everything you're saying in the post but I'm surprised sometimes how many customers or clients seem to defy these profiles whenever you make them (or how well you make them?) I'm not saying it's a useless exercise. Quite to the contrary, I think it will help you more clearly define the things you do well, simplify your basic products and services and even take the personalities and superficiality out of the equation. The only thing you should remember to avoid missing huge opportunities that, for whatever reasons, don't meet your carefully crafted customer profile. "