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| Stop worrying about the credit market…get creative | | Tom Schlafly is one of the most successful business people (and human beings) I have had the pleasure of talking to. He built the St. Louis Brewery in the town that has...um..you, know... THE Brewery. However, since InBev came to town, Schlafly now enjoys status as St. Louis ... | |
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| The Best Business Bobs, or Rising Above Any Name | | Everyone knows a Bob. He is your uncle, your next door neighbor or your Dad's friend from college.
"You know Bob, right?"
"Oh, of course I do. Hey, Bob, how's the wife and kids?"
It is the most unassuming name there is. It is the small pickup truck...the quarter-pounder with cheese...the denim shirt ... | |
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| Time wounds all heels…especially in a tough economy | | This morning I heard a story that I did not expect to hear. It was about a St. Louis company that was seeing an increase in business despite a tough economy.
Adam Allington of KWMU reported on local St. Louis cobbler, Jeff Lipson owner of Cobblestone Shoe Repair. Jeff is a ... | |
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| Helping others understand your innovation | | I am not a wine connoisseur, nor do I understand the intricacies of what makes a good wine. I have pretended to know in the past, though. Swirling the Merlot around in the glass, swishing it between my teeth and saying, "hmmm...quite dry...and a faint hint of almonds."
One thing that ... | |
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| Business lessons from George Carlin | | Choosing to become a business owner is absurd. Given the amount of businesses that fail, breaking from a career to start an organization becomes an exercise that is close to insane. Only a certain type of person, the entrepreneur, who would forsake the glory of the paycheck to start something ... | |
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| Jon and Kate: What Ever Happened To Hard Work? | I went to college (MIZZOU) some 20 years ago with Brad Pitt. Now, even though we were both in the Journalism School, I didn't know him (please girls, don't call me I can't help you meet him). Pitt left MIZZOU, with very little money, his senior year and moved to California because he wanted to be a star. In the late 80s, becoming a big-time Hollywood star meant you moved to Los Angeles with very little money, waited tables at night, went to countless auditions every day and went to acting class. It was hard work, and it took a lot of dedication and perseverance. But, for those who persevered, like Pitt, the rewards were endless. It was called working hard to become a star.
This brings me to Jon and Kate, the current reality stars we hear so much about. Today, people don't move to L.A. and work hard and learn a craft to be famous. No, that's too hard. Today, would-be stars act outrageous, try to get on American Idol, Survivor or another reality show, or find a good fertility doctor.
Why work hard when a fertility doctor can get you on screen much more quickly? I guess it's part of the instant gratification we see in society today.
Jon and Kate received massive amounts of money, opportunities for book deals, a tummy tuck for her, hair implants for him, homes, etc. They are bona fide stars.
But did they really earn those things?
--Ron Ameln, SBM | | 6/22/2009 9:34:00 AM |
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| Why Government Motors (GM) Won't Work | As a parent I've learned that the most difficult, and at times most unpopular, decisions are often the ones that are in my children's best interests in the long term. They don't notice it now, but they probably will 15 years from now.
The same is the case for businesses. Difficult decisions today (layoffs, budget cuts, diversification) may be the best decisions for the future of the company. Even though these decisions might be unpopular today, they may mean the company exists 10 years from now.
That is precisely the reason Government Motors, the new GM, won't work. Politicians don't care about long-term, they care about popular opinion and making voters happy.
This is already happening at Government Motors. Here's a great example.
GM recently announced a decision to close a parts-distribution center in Norton, Mass. The reasoning seemed sound. The company is bleeding money and parts weren't really flowing from the distribution centers. So, consolidating the centers would help save costs.
The problem: The Norton, Mass., distribution center happened to be in Congressman Barney Frank's district. Frank chairs the Financial Services Committee, which is important to GM now that the Government will soon own 60% of the firm.
Frank called GM's CEO and guess what? The parts plant will not be closed after all.
Difficult decisions must be made to save struggling companies. Politicians cannot make those decisions. Can you imagine politicians setting interest rates? Rates would be 0% (and inflation would be through the roof). What politician would have the guts to raise interest rates. They can't even suggest tax increases.
Frank says his decision to intervene in the situation had nothing to do with the parts plant being in his district. (Surprise, surprise). Frank said he intervened because closing the plant meant parts would now be trucked across the country, which means increasing our global warming problems even more. He actually made the decision in order to help save our planet. (I guess this means GM can't close any of the parts plants.)
Now, GM must figure out a way to cut costs and make all the politicians happy so they can be elected next cycle.
Decisions made for a company based on anything but the best long-term interests of the company just won't work.
--Ron Ameln, SBM | | 6/21/2009 4:38:00 PM |
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| Important Question: What Business Are You In? | I had lunch the other day with one of my mentors and I began telling him about some of the diversification plans for SBM. He stopped me at one point, with a very direct question: "What Business Are You In?"
Can you answer that question in your business? Years ago Hertz Corporation asked this question and realized that the firm was not in the "rental car" business, but rather the "get people out of the airport as fast as possible," business. This discovery changed the way the executives and employees made decisions. It spawned a Hertz Club where members no longer had to wait for vehicles, a huge success for the company at the time.
So, what business are you really in? When you discover the answer, every decision you make should meet this objective.
For SBM, we're not a "publication," or a "newspaper." We're in the business of "Educating and Promoting Small Businesses." After some reflection, I realized some of my diversification ideas didn't really meet this goal.
What Business Are You In?
--Ron Ameln, SBM | | 6/18/2009 9:50:00 PM |
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| Diversification: Riches In Niches | Every company is looking for ways to diversify and gain some new revenue streams, especially in this economy.
One warning: Take your time and find the right solution. Remember: there are riches in niches. Don't leave your niche behind trying to find the holy grail of income.
Years ago Hardee's decided to diversify and serve fried chicken. The chicken was excellent and soon the stores were packed with patrons buying chicken. The only problem: Hardee's didn't have the capacity to serve large amounts of chicken. Soon, patrons were waiting 30 minutes for chicken. That didn't last long, as you can imagine.
It didn't take long before customers, angry they had to wait 30 minutes for chicken, stopped coming not only for chicken but for the restaurant's niche: burgers.
Wisely, Hardee's abandoned the chicken concept and once again focused on its niche: burgers. The chain learned a valuable lesson about diversification. Today, even as chains strive for healthier menu choices, Hardee's continues to focus on its niche: burgers.
--Ron Ameln, SBM | | 6/18/2009 4:50:00 PM |
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| Phil Jackson: A True Leader Wins Again | L.A. Lakers basketball coach Phil Jackson just led his current team to an NBA title. It will make the 10th NBA title for Jackson.
It's no wonder he's won 10 titles. You can tell he's a leader just by watching him on the sidelines. Unlike most coaches in the NBA, Jackson doesn't stand all game screaming at his players. He sits quietly, almost like he's at church. (He's a believer that yelling at someone in heat of a game will not improve his or her performance. Instead, he opts to talk about game situations and offer advice during halftime or timeouts when competitive emotions have settled down.)
Even the world's most coddled, self-centered athletes (basketball players) respect him because he treats them like human beings. (He even passes out books to players on road trips. Yes, Dennis Rodman actually read a few of them.) He gives his players responsibility and a say in game stratagies.
As leaders of our businesses, we can take away many lessons from Coach Jackson.
--Ron Ameln, SBM | | 6/15/2009 9:45:00 PM |
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