We are all sinners – at least in the business sense.  And, it is hard not to be a business sinner today.  In our current pell-mell state of rushing about putting out current “business fires” it would be beyond the capacity of mere mortals not to make one or more of the so-called business sins.  Knowledge of these seven great business sins will not make you perfect, but can allow you to be a better business manager.  1.  WORSHIPPING HIGH PROFIT MARGINS If you maximize your profit margins, you’ll also maximize your competition.  High margins mean your competition will lower their costs just...

Worshipping High Profit Margins—When you try to maximize your profit margins you will also maximize your competition. Instead of focusing on profit margins, focus instead of increasing your Free Cash Flow (FCC). This is defined as income from operations minus capital expenditures. Use FCC to obtain market share. Financially Starving the Opportunities & Feeding the Problems—we are all victims of inertia. Old problems keep you stagnant whereas new opportunities are potentials for growth and can bring in much needed revenue and new customers. Neglecting the Top Line (Sales)–Unless your...

Welcome, I am going to change your life! Lofty? Yes, I am just trying to get you read the next few lines that speak about me, and what you might find useful on this site—yes the previous lines were kind of bait, a famous marketing strategy. But why would you like to know about me? Very few people like to know about other people (yes, the field of psychology has proved it), but sorry, this is my site so I can’t help to talk a little about myself. I am a business philosopher, if that helps to describe me in a sentence. Are you into business? Well, everybody is into it in some form or another. But,...