Blog

Why you should have a close – and profitable – relationship with failure

June 7, 2022 by Jim Blasingame

In my reading over the years, I’ve consistently been drawn to autobiographies of people who took great risks and found greater success. Of course, you can’t go wrong reading about the great intellects and leaders like Washington, Lincoln, Churchill, etc. But my favorite autobiographies have been those who are/were alive during my life because I could identify with the issues they were up against.

Contemplating why I’ve been drawn to this genre, eventually I realized it wasn’t because I was in awe of their celebrity, riches, or other success markers. It was because in every honest autobiography there is a heaping helping of examples of how that person failed. Modern failures. [Continue Reading]

We interrupt the pandemic transition to bring you a Memorial Day message

May 30, 2022 by Jim Blasingame

This is my traditional Memorial Day column with a post-pandemic component, which we’ll get to in a minute. But first …

Reasonable people disagree on the exact origins of what is now called Memorial Day. But most accept that the practice of decorating the graves of Americans who died defending their country began in earnest by women of the South during and following the Civil War.

On May 5, 1868, General John A. Logan, National Commander of the Army of the Republic, was the first to make Memorial Day official. With General Order No. 11, he stated in part that “the 30th day of May, 1868 is designated for the purpose of strewing with flowers or otherwise decorating the graves of comrades who died in defense of their country.”

Since then, [Continue Reading]

Do you – and your company – need a vacation this year?

May 24, 2022 by Jim Blasingame

Could you use a vacation this summer? You know – like for an entire week.

Well, according to our most recent online poll, over two-thirds of respondents allowed that they’re going to take a vacation for at least a week. Pretty sure this is close to a record on this topic, and it’s probably some kind of a pandemic-in-the-rearview-mirror reaction.

It must be said that, for small business owners, a vacation isn’t just for the rest and relaxation. Most of us realize time away gives any leader a better perspective upon returning. This brings us to what for entrepreneurs may be a better question: Could your business use a vacation from you? Of course, it could. Your absence will reveal organizational weaknesses that need attention, as well as strengths you may have overlooked.

Regardless of your motivations, here are four ideas to help you consider taking more time off. [Continue Reading]

Blasingame’s 3 Laws of Small Business Capital

May 16, 2022 by Jim Blasingame

The first sentence in the job description of every CEO should be, “Secure and manage the capital your company needs.”

Webster defines business capital as, “any asset, tangible or intangible, including cash and hard assets held by the company.” Capital blended with operating cash flow becomes the financial fuel your company’s engine uses to operate with and fund growth.

A small business has three primary sources of capital: [Continue Reading]

Will your business be successful? Depends on how you answer these HR questions.

May 10, 2022 by Jim Blasingame

1. What is your business’ annual training budget?

2. Are your employees successful?

3. Who are your key employees?

Now, let’s compare your answers to what they reveal about the future success of your business.

1. What is your business’ annual training budget?

While you’re chewing on that, let me point out one of the HR practices that Big Businesses are known for, and which small businesses should emulate: a legendary commitment to training. Alas, too many small firms conduct training after a fashion, if at all, and likely with no budget.

Historically, big businesses have had an advantage in this area because they have the resources to pay for structured training programs, and the staff redundancy to give their people time away from their assignments to acquire training. But thanks to the Internet, and thousands of companies that develop and distribute convenient and affordable online training programs, small businesses can acquire training in a wide range of disciplines without breaking the budget and with a minimum of lost production.

So how’re you coming on that training budget answer? [Continue Reading]

Who’s Doing The CEOs Job In Your Small Business?

May 3, 2022 by Jim Blasingame

Every business has specific assignments that must be performed by the Chief Executive Officer, a.k.a CEO. Not the founder, owner, or manager; the CEO.

It’s not difficult for a small business owner to understand the role of general manager, because that assignment comes preloaded with day-to-day operation stuff, which is always chock full of actions and reactions. But it’s another matter to get that same person to isolate a CEO’s strategic foresight assignments from a manager’s tactical tasks required to open the doors and serve customers today.

A CEO’s job is to carve out and commit to the time, energy, and assets to develop the strategies that make sure the business’s doors are still being opened next year and the year after. Let’s look at the three focal points of the job of CEO. [Continue Reading]