Succession Planning: A Personal Story
Last week we announced that Trek Principal, Michael Oleksak, has joined State Street Global Services in Boston. This opportunity pulls together all the threads of his career in banking, sales, portfolio management software and consulting. It’s a wonderful opportunity. And, as Michael’s business partner, co-author and spouse, I am really excited for him. Losing Michael will be [...]
What’s your story?
Here’s an economic indicator from the front lines: we have been busy writing business plans with a number of our clients. This is a cyclical activity, something people do when they see opportunities on the horizon. Based on what we are seeing, lots of companies are seeing opportunities to grow and build value. A business plan is [...]
Is there a difference between entrepreneurs and business owners?
The terms entrepreneur and business owner are often used interchangeably. At a recent XPX-D.C. Metro breakfast, the two panelists were introduced as serial entrepreneurs and, it is true, each had founded four unique businesses. And although this was an Exit Planning Exchange event, these entrepreneurs did not talk much at all about how they transferred [...]
Moneyball – Trekking post
I saw the movie Moneyball on the weekend it came out. I had read the book shortly after Michael Lewis wrote it in 2005. Both the book and movie are terrific, although Michael Lewis admitted recently that he thought it would make a terrible movie, because of too much statistical stuff. Moneyball follows Billy Beane (Brad Pitt [...]
What if you knew?
“What would you do if you, as the business owner, had six months’ notice that you had to sell immediately (maybe because you were going to die?)?” What a great perspective! (aside from the dying part…)
a different approach – hiring by network
The importance of hiring well came to mind this month at a two-day company meeting with a client of ours, a software company in the health care space. The owner/founder started the business ten years ago, has always hired strong individuals and given incentives that have kept his entire team intact through the past three years.
the trouble with banks – a different approach
So what’s the answer for SME businesses? Up your game if you need to borrow. We are finding good reception with bankers for specific, data-driven descriptions of intangibles. 80% of the value of the average company today is intangible. Most bankers and businesspeople understand this intuitively but they often don’t have the information to tie value and intangibles together.
If not the IC-IQ quiz, here’s another quiz
The Intangible Capital quiz IC.IQ can be powerful and a great way to quickly get at what’s going on in a business. It tells you what the financials and all the “hard” data have ignored.
Vibrators, lean, and a future for American business
In today’s highly competitive environment of low cost labor overseas, VIBCO has found a way to thrive in their segment without moving production off shore. A number of years ago, the company embraced lean manufacturing whole-heartedly, seeking operating efficiencies at every level of the company.
family business – a different approach
Part of what makes a family businesses unique could be that they simply have a different set of priorities. While many companies place ahigh value on growth and current profits, family businesses consider other values of high importance. For example, many family businesses consider the value of the family business to the fiber of the family. This business can serve as a source of employment for family members andit can serve as a means of keeping the family connected.
