Transparency in Business

    You need to get out there and be ‘social’ as the business owner, right? Getting active on Twitter, LinkedIn, to tell your story and be transparent – that’s all the rage. And while it might be good advice, there are some crucial nuances that we rarely pause to think about in terms of what’s actually in the best interest of your business. Not just how much transparency, but what kind?  

    The Business Plan . . . MIA (missing in action)

    The Business Plan . . . MIA (missing in action)

    The business plan provides a kind of map or battle plan for the marketplace. It also validates a company, proving that it has a reason to exist. That's a scary thought which might help explain why so many organizations operate without one. Not long ago a textile manufacturer ceased operations for that very reason. For years it struggled in the tough upper niche market that required high fashion, small runs and quick turnaround with rather antiquated machines requiring a full 12 hours for a changeover. Competitors with newer, faster machines could come into the market and gain an instant advantage. In the end, the company could not afford the new technology nor could it change markets, so it perished.  

    Nine Early Warning Signs of a Troubled Company

    A good reputation and impressive sales figures may mask the ultimate fate of a company that is headed for trouble. Beneath all the glitter, here are some early warning signs to watch out for: