small business Archive

“Both/And” Leadership

Don’t worry so much about being consistent. Jack Welch once claimed that great leaders are “relentless and boring.” Management thinkers largely agree: Good leaders, so the narrative goes, are consistent in their decision making, stick to their commitments, and remain on-message. The trouble is, much as we may value consistency in our leaders, we don’t

A Refresher on Internal Rate of Return

Understand this commonly used way to calculate ROI. This article has been updated. You’ve got a great idea for a new product that will increase revenue or a new system that will cut the company’s costs. But how can you be sure that it’s a worthwhile investment? Any time you propose a capital expenditure, you can

Your Company Culture Can’t Be Disconnected from Your Customers

Most companies only look inward. Few leaders today would deny the importance of organizational culture — it shapes and sustains both employee productivity and business results. But although culture matters to managers trying to transform their organizations and even auditors who now work todocument culture, it is often ambiguous and hard to define. Culture is more than

6 Prerequisites for Turning Your Passion Into Profits

I meet many entrepreneurs with a real passion for their new idea, but unfortunately they don’t all realize that passion is necessary but not sufficient fuel to turn their idea into a successful business. The result is that far too few really great innovations ever get implemented — or last more than a moment in the