Lessons from Cool Hand Luke: Failures in Business Communications (Part 1)

The 1967 movie Cool Hand Luke earned Paul Newman an Academy Award nomination for his portrayal of a nonconformist member of a southern chain gang. It also taught me two lessons. The first is that some people can eat 50 eggs (you had to see the … [Continue reading]

It’s Hard To Define But I’ll Know It When I See It-The Importance of Precision in Marketing

The title of today's post is a partial quote from the late Supreme Court Justice Potter Stewart. He wrote it in a famous 1964 decision involving (forgive me) the definition of obscenity. I use it to introduce the topic of marketing and business … [Continue reading]

We Have Meet The Enemy & He Is Us, Dealing with Entrenched Policies & Procedures (Part 2)

On Monday, I introduced the topic of inefficient and outdated policies, processes and procedures using the cartoon character Pogo, and the mid-twentieth inventor and cartoonist Rube Goldberg. After coining a new acronym (RGP3s) and describing some … [Continue reading]

We Have Meet The Enemy & He Is Us, Dealing with Entrenched Policies & Procedures (Part 1)

Students of American pop culture will recognize the title of today's post as a quote from Pogo, the swamp dwelling possum in the classic comic strip of the same name. I use it to introduce a discussion of an all-too-common business … [Continue reading]

The Fractional CFO Concept (Part 2)

Earlier this week I introduced what may have been a new concept for some small business owners and managers; the idea of fractional or part time CFO. A vacation timeshare is a useful analogy to understand how and why a part-time financial expert may … [Continue reading]

The Fractional CFO Concept

The idea of fractional or part time use of a valuable resource has been around for many years. A perfect example of this concept was pioneered by the vacation real estate industry. In the 1960s, a French ski resort owner recognized few people could … [Continue reading]

Too Foolish To Fail

The big buzz on Wall Street is today's planned IPO of Facebook. I hope it will reverse the recent downward trend (11 of the 12 last trading days were losers). Several months ago, a partner and I were discussing Mark Zuckerberg in the context of … [Continue reading]

I HATE TO SAY I TOLD YOU SO!

This is a sad day for long-time antique Kodak camera collectors like me, not a day to remind readers about the critical importance of cash flow to business survival. Unfortunately, as demonstrated by the following timeline, the inventor and … [Continue reading]

CASH: NOW YOU SEE IT, NOW YOU DON’T – PART 2

Last week I introduced the topic of cash flow management, using the graph below. Cash flows generated or use by any business are the net result of the inter-action of three inter-related cycles. They include the expense and revenue cycles, which I … [Continue reading]

CASH: NOW YOU SEE IT, NOW YOU DON’T

The first response to a cash crisis is usually to tighten up on expenses, cut back on something, or generally to make do with less. That may be necessary, but it is usually only part of the answer. As shown in the diagram below, cash flows … [Continue reading]

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