Danny's Articles & Media
Safety, Security and Rapid Growth
Concerning a rapidly growing business, Peter Drucker once stated, “the lack of adequate financial focus around the right financial policies is the greatest threat to the new venture in the next stage of its growth. It is, above all, a threat to the rapidly growing new venture” (Drucker, 2004, emp.added). Why did Drucker issue this warning? After…
Read More >Your Company’s Health And Your CFO
In a column in Business Week, Jack and Suzy Welch were asked, “[W]hich three measurements give the best sense of a company’s health?” Although measurements may vary depending on the industry, the Welchs’ response was, “If you’re running a business, though, whether it’s a corner store or a multi-product multinational, we would say there are…
Read More >Allocating Precious Resources
Recently, I was in an introductory meeting with a business owner as he described to me the challenges his company was encountering. I learned in that meeting that his company had many business segments for product and service offerings. Recent declines in overall business performance had him perplexed. During the discussion he made this statement;…
Read More >Well-Balanced
According to Merriam-Webster’s online dictionary, balanced is defined as “being in a state of balance : having different parts or elements properly or effectively arranged, proportioned, regulated, considered, etc.” Merriam-Webster defines well-balanced as “nicely or evenly balanced, arranged, or regulated.” Individuals and organizations that are well-balanced are much more effective in accomplishing their goals, have…
Read More >Striving for Excellence
“Stradivarius did not need any patent on his violins, for no other violin maker would pay such a price for excellence(emphasis mine) as he paid; would take such pains to put his stamp of superiority upon his instrument(Marden,loc. 3677).” Why is it that Stradivarius violins command extremely high value? Because the inventor strove for excellence.…
Read More >The Multiplier Effect
Randy Johnson had an important meeting in August of 1992 with Nolan Ryan. “They had a conversation that helped the 6-foot-10 Johnson learn how to harness his delivery. ‘At my height, you’re dealing with more arms and legs,’ the gangling southpaw said, and the tweak(emphasis mine) that came from Ryan, the Hall of Famer, eventually…
Read More >Prepare to Sell-Now!
Larry Reinharz of Woodbridge International said, “If you have the majority of your net worth in your company and you are past the 7th inning of your earning years, timing the sales is crucial to your financial well being. The biggest mistake we’ve seen business owners make is waiting too long to sell. They do…
Read More >Distractions-Killer of Businesses and Successful Exits
Most of us understand that to do anything really well requires dedication and total concentration. However; whatever it is that we are attempting to accomplish in an excellent manner will be thwarted by distractions. Merriam-Webster’s on-line dictionary defines a distraction as, “something that distracts : an object that directs one’s attention away from something else(emphasis…
Read More >Signs
Merriam-Webster defines the noun sign as, ” something indicating the presence or existence of something else… something (such as an action or event) which shows that something else exists, is true, or will happen(Merriam-Webster on-line Dictionary).” For example, traffic signs are in place so drivers can be informed and warned in order to properly navigate…
Read More >Heed a Classic and Exit Successfully
Would you pay more for a company with an energetic, intelligent, owner who has built great relationships with his customers and runs his company in a disciplined consistent manner, or pay more for a company with energetic, self-motivated people who follow a consistent process exceptionally well, while the owner is hardly noticed? To ask the…
Read More >