Skin in the Game “Skin in the Game” is a powerful book by Nassim Nicholas Taleb. Skin in the game requires exposure to not only the upside of your own actions but also the downside. That is the problem with the grant of large stock options to executives of public companies. There is no [...]
It's Lonely at the Top Preston: CEOs often feel very lonely. Although that may surprise many who have never been a CEO or business owner, it won’t surprise those who have. Many people clamor for time with the CEO. In addition to employees seeking the CEO’s time, there are customers, prospects and suppliers to meet [...]
"2+2=5" or How To Combine Efficiency And Effectiveness A member of my CEO Focus peer group mentioned a conference session that he has found very useful on a day to day basis in his business. When he mentioned it, I recalled a podcast I had listened to that was an interview of the same person. [...]
"Two is one and one is none." When designing processes, risk management must be taken into account. What is the impact of a failed component? Can the throughput of the process be protected by the use of several lower capacity machines rather than a single high capacity machine? Can a job be shared by two [...]
"There is nothing so useless as doing efficiently that which should not be done at all." -Peter Drucker EFFECTIVENESS must come before efficiency. Effective means creating value for a customer. Processes must be designed to eliminate activities that do not add value. This is an important source of competitive advantage.
What Do Tim Tebow, Le’Veon Bell And John Boyd Have In Common? Tim Tebow took the Denver Broncos to the playoffs in 2011. He took over the quarterback job after a 1-3 start under another quarterback and took the team to a win in the first round of the playoffs. Tebow never got another start [...]
Are You Experienced? Jimi Hendrix unknowingly posed an important business process question in 1967 as the title to a song and his debut album. An earlier article, “If It’s Not a Process, It’s a Problem,” discussed the importance of processes. This article will discuss how we go about developing good processes. Any good process begins [...]
3 Methods to Create More Time in Your Day There is a great deal of business advice for CEOs and business owners available on LinkedIn and other sources. Some of it is excellent, but even if you only read the best of the best, implementing those ideas is difficult. There are many time management tools [...]