EBITDA as a fantastic powerful business rule of thumb!

  10% EBITDA Rule of Thumb in Business Sometimes businesses find themselves in a position where they are just not generating much profit after capping off expenses. Simply put, you need to make a fair return that allows you cover expenses, re-invest and make a profit or the venture is just not with the effort. This may sound too blunt but the reality is if you are in business to make a profit there is a fair and reasonable return you need to make to make it all worth while. EBITDA is one of the measures that ensures you are making the return you need. A company‚Äôs EBITDA is their...

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The Power of Vulnerability

The power of being vulnerable I recently came across the work of Brene Brown on the power of vulnerability and think it is bang on! For a long time we have encouraged people to continue to evolve and growth with a healthy balance of confidence and being truly humble. A key must have quality in being humble is to be able to live with being vulnerable. Brene Brown’s work on this subject is like light at the end of a long tunnel or path through the forrest. I encourage you to watch and/or read Brene Brown’s material and to consider her messages. Here is the link to an article on her...

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Tip 130 – The Three Equal Partner Rule of Thumb

  The Rule of Three Partners In business partnerships the rule of thumb is to not have a three equal partner structure for long periods of time. You can have long terms partnerships with two, four, five, etc. partner structures assuming there exists strong partnership agreements that document how the partnerships are to function and how they can be dissolved. The difficulty with 3 person equal partnerships are that over time they tend to migrate to two against one and this undermines the working relationship of the partnership. In time one partner tends to feel outcast and out of sync...

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The Awesome Power of Culture over Strategy

  Culture eats Strategy everyday! You can have the best strategy in the world but if do not have the culture to execute on the strategy it is destined to fail. Culture eats strategy everyday. Your unique organizational culture defines how you get things done and how strategy is developed and subsequently executed on. When you put together a strategic plan one of the critical steps involves a SWOT analysis (strengths, weakness, opportunities, and threats). In completing a SWOT analysis a key outcome often is an analysis of an organization’s culture. Often stating what is it and how...

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Stop the constant “nibbling” at you in a negotiating situation. It really works!

  If I can do that for you what can you do for me? As an executive coach I will often recommend reading two books that I believe to be invaluable in all parts of our life. The two books are, 1) Getting Past No, and 2) Secrets of Power Negotiating for Salespeople. The reason I recommend the reading is because we should know and recognize the various tactics and techniques that are used in sales and negotiations because they are being used on us. If you don’t know them and how to counter the techniques then you fall prey to savvy sales individuals. You could be leaving money on the...

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