Blog

Spring Cleaning For Small Business? Yes! In December!

December 12, 2023 by Jim Blasingame

Whether it’s a year where something we once knew as “normal” was part of our reality, or during an unprecedented and unimaginable year of a global pandemic, the abiding management question for all small business owners is always valid: “What’s the best use of my time right now?” And at no other time of the year are we more time-management challenged than in December.

The twelfth calendar month is the only one where two powerful imperatives converge against a hard stop, each demanding a full measure of your time, attention, and resources:

The perennial push to close out the sales year as strongly as possible, while
Simultaneously taking steps to set the business up for a fast and clean start when the New Year dawns on January 1.

Pardon the football metaphor, but in the marketplace game, your business plays all year, December is the two-minute drill of your fourth quarter. And in this tight transition period, that fierce competition for precious time and resources requires discipline and devotion to fundamentals.

Our grandmothers practiced the fundamentals of spring cleaning when the weather broke warm. In the marketplace, in order to kick off the New Year right, your spring cleaning should happen before then. There are many targets for a business’s December cleaning, but here are five important ones to get you started.[Continue Reading]

When Cause And Effect Converged With Humanity

November 21, 2023 by Jim Blasingame

Editor’s Note: Jim wrote the origins of this article and published it in Volume I, Issue 2 of his NEWSLETTER, November 21, 1999.

This is a story about how cause and effect merged parallel universes and one person made a difference that changed the course of human history.

As the 17th Century dawned on the New World, a manchild was born to the Patuxet tribe. His father named him Tisquantum. They were part of a confederation of tribes known as the Wampanoag (“eastern people”), inhabiting much of what became known as New England.

In time, Tisquantum would become a very important individual to the future of America, but not before his life would change in ways not to be imagined by any 17th-century Earthling. [Continue Reading]

Veteran’s Day: Recognizing And Honoring All Who Served

November 11, 2023 by Jim Blasingame

Veterans Day in America has its origins in Armistice Day.

“To us in America, the reflections of Armistice Day will be filled with solemn pride in the heroism of those who died in the country’s service and with gratitude for the victory.”

That 1919 quote by President Wilson commemorated the first anniversary of the signing of the Treaty of Versailles, which ended WWI “in the eleventh hour of the eleventh day of the eleventh month.” And then, on November 11, 1938, Congress made “Armistice Day” a federal holiday.

But since that war did not, in fact, end all wars, a decade later, an Emporia, Kansas small business owner named Alvin King had a problem with the narrowness of the Armistice Day definition. It turns out that Al’s nephew, John E. Cooper, was killed in the Battle of the Bulge in WWII, which motivated him and the Emporia Chamber of Commerce to start a movement to redefine Armistice Day and give it a new name: [Continue Reading]

Intangible Motivation Produces Tangible Results

November 7, 2023 by Jim Blasingame

Imagine that your best employee just resigned. How much will it cost – directly and indirectly – to find, hire, train, and get a replacement to the productivity level of your exiting employee? You already know the answer: maybe years. Not a scenario you want to contemplate, right?

There are many reasons why someone leaves a job, but decades of exit interview records show that compensation is seldom the main reason. Consequently, it’s an article of faith that employees don’t leave companies they leave people – usually a manager. That means that such a disruptive circumstance is likely not only preventable, but the solution is essentially one of those intangibles that cost you little to nothing. Often, just some of your time and attention.

Motivation is one of those intangibles, and smart business owners know about its power. They’ve experienced the direct link between motivating employees to be successful in their assignments and the success of their business.

You can become one of those smart managers before a key employee turns in their keys because he or she merely couldn’t come up with a reason to be motivated to stay. Consider these six motivational best practices.[Continue Reading]

Are humans going to get help sorting out our problems?

October 31, 2023 by Jim Blasingame

Last week, we asked this question in our online poll: “Are you concerned about the increasing global instability these days?” We offered the following options, with your response percentages at the end of each:

No. These things ebb and flow – we’ll get through this. 8%
Yes. Because Middle East politics has now been exported to neighborhoods around the world. 23%
Yes. The Biden administration has weakened America’s standing and funded terrorists. 62%
No. We’re in the hands of a higher power with a greater plan. 7%

I envy our first group of responders. I wish I could be that philosophical about how things are going around the world.

Of course, we have to aggregate the 85% in the middle of our sample who allowed they’re very concerned. Being part of this cohort, at this point, I’ve moved from thinking about any one or the other areas of danger and base my increasing concerns on just doing math: [Continue Reading]

Five Financial Mysteries Revealed, Part III

October 24, 2023 by Jim Blasingame

This is the last of a three-part series covering what I call The Five Financial Mysteries. In the first two articles, the first three Mysteries were revealed about the relationship between cash, accounting, and profit.

In this article, I’ll complete my attempt to help you stay on the right side of the business survival/failure statistics. So, buckle up as I reveal Financial Mysteries Four and Five.

Financial Mystery Number Four

You can get squeezed between vendors and customers.

Vendors and customers are the prime entities every business deals with financially every day the business is open. Understanding your relationship between these two, (literally between, because your business is in the middle), is the key to cash flow management. The way to avoid getting squeezed is [Continue Reading]