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Most competitors are just like you. They want to provide good products or services at a fair price. They have families to feed, and feel responsibility to their employees. They aren’t in business specifically to hurt you or your company. If the only information you have about a competitor is from Read More

Of all the misconceptions by business owners, the ones surrounding their company’s value are both the most common and often wildly inaccurate. If you are like 85% of all owners and plan to sell your business to a third party, the first thing to do is engage a valuation professional so you can start Read More

I make no claim that using the Seven Deadly Sins as a metaphor for business behavior is original. Of course, the original concept is a codifying of “undesirable” human behaviors, or sins. It’s an easy way to organize negative behaviors. Perhaps that’s why it has remained so dominant a concept. Read More

(Eighth in The Seven Deadly Sins of an Entrepreneur series.) “The more you work in your business, the less it is worth.” Building an organization that is dependent on you to operate it has one drawback. You can’t leave… ever. If you are the business, then it is worth nothing without you. Read More

The strategic sins twist your vision and goals for the business. The first of these, Envy, is defined in the dictionary as a feeling of discontent with regard to another’s advantages. In business, it is an unrealistic belief that the face other owners show to the world is entirely true, and that yo Read More

Greed in your business isn’t the quest for material success. That’s presumably why you own a business in the first place. Greed is a trait that prevents success. Greed is a foolish quest for more without knowing what more is. It’s focusing your efforts on cost and savings in the belief that you ... Read More

In a privately held business, we frequently see husband and wife working together. These “copreneurs” divide the critical management components of the company between them. Read More

We’ve covered the two Operational Sins (Lust and Gluttony) that make you less effective as an owner. Sloth is the first of the Tactical sins; those that make your operation less effective. The second is Wrath and is, by anyone’s definition, created by a surplus of adrenaline. Read More

This week we begin discussing the tactical sins. They are those habits of a business owner that impact day-to-day operations; Sloth, Wrath and Greed. Few business owners would acknowledge that they suffer from Sloth. Most work very hard but sloth should not be confused with laziness. Read More

The Seven Deadly Sins of an Entrepreneur: The second operational sin, Gluttony. The glutton entrepreneur takes pride in being able to do every job in the company better than anyone else. His or her answer to problems and delays is “Never mind, I’ll just do it myself.” Read More