It’s not uncommon for mid-sized businesses to hire management consultants to help meet particular challenges. For example, a management consultant could help analyze new markets, opportunities, products and services, and acquisition targets.
Management consultants can even help develop core strategy, mission and values. But before hiring...
“Go big or go home.” This has become a popular catch-phrase lately, encouraging people to think and dream big instead of settling for small wins that fail to move the needle on their business initiatives.
Many middle-market business owners and CEOs could benefit by taking the...
When it comes to technology, the only thing we can be certain of is that things will change — and they will probably change rapidly. For example, just think about how different things were before the Internet exploded onto the scene about 20 years ago....
An advisory board is one of the most valuable resources any middle-market business owner or CEO can have. In publicly-held companies, the role of the board of directors is more formalized, but that doesn’t lessen the importance of the board of advisors in a privately-held...
As a middle-market CEO or executive, you have probably learned from first-hand experience how important it is to manage your business in the face of economic uncertainty. It would be nice if everything in business were certain and predictable, but that’s just not how the...
In the recent article, Plan Year-End Business Tax Strategies Now, I described a few year-end tax-planning strategies that could help you save money on your 2017 tax bill when you file your return next spring. But tax planning isn’t the only kind of planning you should be doing now. This...
If you own or run a mid-sized business, then you are probably used to working in an environment of uncertainty. Things are constantly changing in the world of business — whether it’s customer preferences, government laws and regulations, raw material prices or competitors’ offerings. Successful owners and entrepreneurs can...
Owners and CEOs of mid-sized businesses face a wide range of both opportunities and threats every day. For example, new technologies like the Internet can change the face of industries practically overnight, creating new opportunities that were unimaginable before. Meanwhile, threats like the emergence of new competitors can jeopardize market...
On January 20, we witnessed one of our nation’s greatest traditions: the peaceful transfer of power from one political party and President to another. While we sometimes take this for granted, it’s important to remember that what we saw in Washington, D.C. when our new president was sworn into...
In our recent article – Does Your Business Do Strategic Planning? – we discussed the importance of strategic business planning. In particular, we talked about the difference between having a strategic plan “in your head” and engaging in true strategic planning. By going through the formal process of strategic...