We recently ran a column in our August edition by Sandy Washington at Commerce Bank dealing with entrepreneurs and vacations. Sandy wrote a great piece about protecting your accounts while you are gone. Great, solid advice.
But one sentence Sandy wrote stuck with me: "If you're a business owner, taking a vacation may seem like a pipe dream."
Sandy is certainly correct. Many owners I know never take vacations. "Can't leave the business," they always say.
Let me say this. If you are saying this, sell your business or shut your doors. Maybe you don't belong in the entrepreneurial club?
Why so mean? Your business must work for you. If you can't get away for a long weekend, it's not working for you. Work for someone else and get vacation time.
Get some help or advice and let someone help you build your systems and business so you can take a vacation. Especially for entrepreneurs, vacations are vital to recharging our batteries and preparing for future challenges.
-Ron Ameln, SBM
Thursday, July 8, 2010
Monday, May 24, 2010
Is It Time For A Virtual Office
Inc. Magazine produced its April issue with employees working from home, coffee shops, restaurants, malls, etc. The publication made the decision to become a virtual operation, shunning its office and cubicles.
Is it time you start considering the virtual office.? Let's face it, small firms have a definite advantage when it comes to the virtual company. We are already lean and nimble and most small firm employees have become extremely flexible and productive over the years, mostly because they've had no choice.
The benefits: Cost savings (no more rent, janitorial, repairs, electricity, etc.) and increased productivity (no more idle time during rush hour and chatting with the guys about last night's game).
The downside: Clients may look down on your operation and a lack of employee interaction.
Like anything else in business, it will come down to your employees. Are they professional, motivated and dedicated enough to make it work?
As far as Inc., senior writer Max Chafkin told Folio magazine: "Nobody really hated it. I was more productive but less happy. You spend a big chunk of your life coming into the office, and it becomes a source of satisfaction."
--Ron Ameln, SBM
Is it time you start considering the virtual office.? Let's face it, small firms have a definite advantage when it comes to the virtual company. We are already lean and nimble and most small firm employees have become extremely flexible and productive over the years, mostly because they've had no choice.
The benefits: Cost savings (no more rent, janitorial, repairs, electricity, etc.) and increased productivity (no more idle time during rush hour and chatting with the guys about last night's game).
The downside: Clients may look down on your operation and a lack of employee interaction.
Like anything else in business, it will come down to your employees. Are they professional, motivated and dedicated enough to make it work?
As far as Inc., senior writer Max Chafkin told Folio magazine: "Nobody really hated it. I was more productive but less happy. You spend a big chunk of your life coming into the office, and it becomes a source of satisfaction."
--Ron Ameln, SBM
Thursday, April 29, 2010
Can You Ask "That Question?"
A friend of mine was recently invited to a suite to watch a Cardinals baseball game. Towards the end of the game he noticed the attendant bring in a full tub of beef brisket. Knowing the food wouldn't be eaten before the end of the game, he asked the attendant, "Where does this food go at the end of the game?"
"The trash," said the attendant.
The next day my friend called up his business contact with the Cardinals and arranged a meeting with a representative from Operation Food Search.
The two talked and found a corporate sponsor to purchase two big refrigerators that now sit in the kitchen at Busch Stadium. Now, the unused food from the corporate suites goes into the refrigerator each night and Operation Food Search picks it up the next morning.
During the Cardinals first home stand, close to 7,000 meals were provided thanks to this food. With 15 home stands this year, that makes 105,000 meals.
One Person. One Question. 105,000 people fed.
This story isn't really about food. It's about being "that Guy" that asks "that Question." There are probably millions of questions out there that need to be asked each day. Asking those questions can probably help thousands and thousands of people.
Are you the person that can ask that question?
--Ron Ameln, SBM
"The trash," said the attendant.
The next day my friend called up his business contact with the Cardinals and arranged a meeting with a representative from Operation Food Search.
The two talked and found a corporate sponsor to purchase two big refrigerators that now sit in the kitchen at Busch Stadium. Now, the unused food from the corporate suites goes into the refrigerator each night and Operation Food Search picks it up the next morning.
During the Cardinals first home stand, close to 7,000 meals were provided thanks to this food. With 15 home stands this year, that makes 105,000 meals.
One Person. One Question. 105,000 people fed.
This story isn't really about food. It's about being "that Guy" that asks "that Question." There are probably millions of questions out there that need to be asked each day. Asking those questions can probably help thousands and thousands of people.
Are you the person that can ask that question?
--Ron Ameln, SBM
Friday, April 23, 2010
5 Business Catchphrases You Should Never Say
1. The Customer Is Always Right. No, the customer is not always right. In fact, sometimes he is a blundering idiot that sucks time, energy and resources from your profitable clients. For some customers, it's just best to kick them to the curb.
2. People Are Your Most Important Asset. Wrong, wrong, wrong. The RIGHT people are your most important asset. The wrong people can get your company in trouble faster than Ben Roethlisberger at a night club. The key is to get the right people on the bus and send the others packing.
3. It Takes Money To Make Money. Remember all of those flashy E-commerce entrepreneurs from the mid-90s. They spent a LOT of money. The result: Nothing, nada, thanks and drive home safely. Most went belly up. Why? Maybe because they spent most of their money on exotic private jets. It certainly wasn't a lack of money, thanks to every VC with a pulse and a checkbook. Don't like that example, how about Enron.
It doesn't take money to make money. It takes putting money into quality, calculated risks that makes money.
4. It's All About Hard Work. It's not about 60 or 70 hour work weeks. It's about being productive, no matter how many hours it takes. Enough said.
5. It Is What It Is? By saying this, you've pretty much become a victim. If it is what it is, too bad. Take steps to change it.
--Ron Ameln, SBM
2. People Are Your Most Important Asset. Wrong, wrong, wrong. The RIGHT people are your most important asset. The wrong people can get your company in trouble faster than Ben Roethlisberger at a night club. The key is to get the right people on the bus and send the others packing.
3. It Takes Money To Make Money. Remember all of those flashy E-commerce entrepreneurs from the mid-90s. They spent a LOT of money. The result: Nothing, nada, thanks and drive home safely. Most went belly up. Why? Maybe because they spent most of their money on exotic private jets. It certainly wasn't a lack of money, thanks to every VC with a pulse and a checkbook. Don't like that example, how about Enron.
It doesn't take money to make money. It takes putting money into quality, calculated risks that makes money.
4. It's All About Hard Work. It's not about 60 or 70 hour work weeks. It's about being productive, no matter how many hours it takes. Enough said.
5. It Is What It Is? By saying this, you've pretty much become a victim. If it is what it is, too bad. Take steps to change it.
--Ron Ameln, SBM
Monday, April 5, 2010
The End Of A Three-Century-Old Firm
I thought of those comments this weekend when I read an article in St. Louis Post-Dispatch about Jaffe Lighting closing its doors. Jaffe was one of several companies SBM profiled in our January 2000 issue that focused on businesses entering their third century.
It’s hard to imagine the business no longer existing. It began as a hardware store back in 1892. The company survived the great Depression, two World Wars and numerous other trials and tribulations. When it opened for business, Benjamin Harrison was president of the United States. The company endured many obstacles over the years, but the recent economic downturn and housing crisis were too much to handle.
Just a few years ago, the company employed 45. Jaffe’s fate should be a lesson to all business owners. No matter how good (or bad) things seem to be going, there is a fine line between ultimate success and failure when it comes to owning a small business.
--Ron Ameln, SBM
Tuesday, March 30, 2010
Is Your Business Heading In The Right Direction? Answer This Question
I had an interesting conversation the other day about the words entrepreneur and small-business owner? What do they mean? Are they both different creatures?
I think they are one in the same, but I seem to be in the minority on that point. Even if they are a bit different, there isn't much of a difference. Either way, let's not get caught up in semantics. If you really want to categorize business owners, there's only one question to ask:
If you (the business owner, entrepreneur or whatever you call yourself) are hit by a bus tomorrow and (God forbid) are no longer with us, is your company still going to be open for business Monday morning?
If you answered yes, congratulations. You are building a business. (You actually read the E-Myth and got it.)
If you answered no, you have a job, not a business.
Now, there is nothing wrong with owning a job. In fact, there are many advantages (pay, time, flexibility). And, it is not easy by any stretch of the imagination (sometimes more difficult than being CEO of a larger company). However, you're not building anything for the future. You haven't developed a concept that can stand on its own. You haven't created such raving fans that, even without you, still need what you provide.
Entrepreneur or small-business owner? Tomato or tomato!
Will your business survive without you? That's the real question.
--Ron Ameln, SBM
I think they are one in the same, but I seem to be in the minority on that point. Even if they are a bit different, there isn't much of a difference. Either way, let's not get caught up in semantics. If you really want to categorize business owners, there's only one question to ask:
If you (the business owner, entrepreneur or whatever you call yourself) are hit by a bus tomorrow and (God forbid) are no longer with us, is your company still going to be open for business Monday morning?
If you answered yes, congratulations. You are building a business. (You actually read the E-Myth and got it.)
If you answered no, you have a job, not a business.
Now, there is nothing wrong with owning a job. In fact, there are many advantages (pay, time, flexibility). And, it is not easy by any stretch of the imagination (sometimes more difficult than being CEO of a larger company). However, you're not building anything for the future. You haven't developed a concept that can stand on its own. You haven't created such raving fans that, even without you, still need what you provide.
Entrepreneur or small-business owner? Tomato or tomato!
Will your business survive without you? That's the real question.
--Ron Ameln, SBM
Are You Playing The Prevent Defense With Your Company
There is a certain defensive strategy in football and it is called the "Prevent Defense." What is it? Well, if your team is up by a touchdown or more late in the game, your coach might call for the prevent defense. Basically, it is a less aggressive defense that allows the other team to drive down the field but hopefully keeps them from having any big plays. Former coach and television analyst John Madden isn't a big fan. He's always believed using this strategy "prevents your team from winning."
I thought of the prevent defense yesterday when I read a stat that said 80% of small firms are waiting out the economy before hiring or expanding. That sounds a lot like the prevent defense.
My question is, why? In talking over the years to the area's top entrepreneurs, I'm convinced that a company should always be in growth mode, looking for new opportunities and constantly striving for more profits. Wait and these opportunities will pass you by.
Take Tom Schlafly, for example. Schlafly began Schlafly Beer in the back yard of the world's largest brewer. During his path in building the company, he never looked back, never stopped because of the economy, never diverted from his growth plan. He knew his opportunities would come from his own aggressiveness.
Today Schlafly's business is thriving. And guess what, he hasn't stopped striving for more success.
John Madden might be correct, the prevent defense might prevent you from succeeding.
--Ron Ameln, SBM
I thought of the prevent defense yesterday when I read a stat that said 80% of small firms are waiting out the economy before hiring or expanding. That sounds a lot like the prevent defense.
My question is, why? In talking over the years to the area's top entrepreneurs, I'm convinced that a company should always be in growth mode, looking for new opportunities and constantly striving for more profits. Wait and these opportunities will pass you by.
Take Tom Schlafly, for example. Schlafly began Schlafly Beer in the back yard of the world's largest brewer. During his path in building the company, he never looked back, never stopped because of the economy, never diverted from his growth plan. He knew his opportunities would come from his own aggressiveness.
Today Schlafly's business is thriving. And guess what, he hasn't stopped striving for more success.
John Madden might be correct, the prevent defense might prevent you from succeeding.
--Ron Ameln, SBM
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