Do You Have “The Knack?” – Question To Small Business Owners

The Duct Tape Marketing Coaching Excellence Series featured Brodsky and Burlingham today.

the-knack.jpg

Norm Brodsky and Bo Burlingham, two of Inc. magazine’s popular columnists,  talked about their book “The Knack”.  Their advice mixes common sense, street smarts and pragmatism. Here are some points to remember:

  • Life plan should be in sync with your business plan.  Be flexible enough to make changes if necessary.
  • Have a set of long and short term goals for yourself and your business.
  • Numbers run a business – get a handle on your finances.  Understand why gross margin matters.
  • Keep in mind – sale does not occur until you collect the money.
  • Short term assets should always exceed short term liabilities.
  • No friends in business – make decisions that are best for your business.  Take emotion out of decision making process. This does not mean that you don’t care about the people you work with.
  • Treat true competitors with respect.  You get nowhere by badmouthing them.
  • Explain why you are better/different without putting your competitors down.
  • Culture drives a company.  We don’t necessarily start out with a written statement that sets our company culture.
  • CEO should take responsibility for your company culture,  otherwise you may end up having several different cultures.   Company culture  is company’s soul.
  •  Don’t be wasteful.  Have enough cash on hand to get your company through hard times.

 

Leave a Reply