It is expensive to lose customers. Keeping them is worth some attention from the CEO.Did you ever stop and consider that it's always cheaper to keep your existing customers than to acquire new ones? It's darn expensive to acquire new customers, and companies can invest a lot of their revenue...
KEEP READINGTaking your feelings out of the equation changes how you look at a problem--for the better. I'll never forget my own experience as a young man when I witnessed a horrific car accident. The incident taught me that there's one critical trait that great CEOs and doctors share in common--they are cap...
KEEP READINGThere is an existing playbook we can use, and it works There has been a huge amount of conversation and energy in recent months about the Black Lives Matter movement and the lack of diversity in many organizations, especially in businesses. This lack of diversity is particularly evident in leade...
KEEP READINGAn easy way to calculate the limit to what you should spend.I've written before about managerial ratios like the spend on employee development. One of the metrics that has come into vogue in recent years is something called customer acquisition cost (CAC), which is the ratio of dollars you spend ...
KEEP READINGYour Next CEO Should Come From the Center of the BusinessAt some point in the life cycle of every business, the topic of succession will come up. That might come when a CEO decides to move on to a new opportunity or maybe to retire. It could also come when the founding entrepreneur decides to sto...
KEEP READINGThe middle of the market is collapsing. Now is the time to find your company's place. When it comes to positioning your product or service in the marketplace, you will find yourself in one of three positions: You will either compete on the high end, the low end, or in the middle. In other wo...
KEEP READINGAny strength can become a weakness if you aren't carefulGenerations of leaders in both the political and business realms have been influenced by Success Through a Positive Mental Attitude by Napoleon Hill and W. Clement Stone and The Power of Positive Thinking by Norman Vincent Peale. The later b...
KEEP READINGSome people base their decisions on gut instinct alone; others only use data. There's a better way. There's a battle that occurs every day in boardrooms across the country over a single question: Which is mightier, the gut or the spreadsheet? What I mean is that there is disagreement between entr...
KEEP READINGThere is a darker side to a great financial exit, but there's a way to handle the mixed feelings. Most entrepreneurs begin their journey by creating a vision and then investing an incredible amount of labor and will-power to make it happen. One of my favorite definitions of an e...
KEEP READINGIf your kid is interested in going into business someday, here's why an engineering degree may be their best option. There is an ongoing conversation about what kind of education someone needs to become a CEO or entrepreneur in the future. Part of the reason for the debate is that when you look a...
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