According to History.com, Americans spend over $6 billion a year on Halloween, and $2 billion of that goes to the candy manufacturers. This is a great reminder of the power of marketing and advertising! According to businessinsider.com, Trick-or-Treating was popularized in the early 20th century, but fizzled out when sugar was rationed during World War II, making candy scarce. After ...
Many entrepreneurs call me for counsel when their business is struggling financially. It’s not uncommon that their suppliers have gone unpaid for months. When they do finally receive some cash, it becomes very challenging to determine who to pay first. Instead of paying each bill according to the due date, many will show favoritism to the creditors they need the ...
Like many leaders, you may have set a goal this year to networking more, study or read more, or to join an accountability group. We hear you—and that’s part of the reason we created our new Study Guide Starter Kits. Our newly-redesigned and updated study provides the framework to start a networking group focused on putting God first at work. ...
Dan, a budding entrepreneur called me for counsel recently. He asked, “Can you help me apply for, and borrow, all the money I need to start a new business?” Many entrepreneurs assume that borrowing all of the money they can is the solution to their funding problems. But God usually has a better plan. In my opinion, Dan needed answers ...
When I started in banking in the 1980s, car loans for longer than three years were virtually nonexistent. Now seven years and beyond is common. Since many people buy cars based on the monthly payment rather than the total price of the car, they often agree to longer loans, resulting in paying more for the car in total. This increases ...
As I was departing the banking industry in the 1990s, many banks began centralizing loan decisions, far from where the loans originated. Instead of relationship-oriented, lending became transactional, with decisions based on credit scores, void of any relational element. Instinctively, I knew that having a relationship with the borrower had a better likelihood of the loan being repaid than a ...
Brad, a young entrepreneur I consulted with years ago, assumed that debt was his friend until the economy declined. The burden of too much debt caused his attitude to change. He became so resolved to get debt-free that he eliminated his independent contractors and began working 80 hours a week until the debt disappeared. In less than a year Brad ...
Years ago, Mike, a very profitable bank customer of mine, asked me to loan some money to his friend. Unfortunately, Mike’s friend had a terrible credit history. In an effort to appease Mike and limit the bank’s risk, I told Mike I could only loan his friend money if Mike co-signed the loan. Mike co-signed for his friend, even though ...
When I was a banker, David’s construction company needed a line of credit. His business was risky so we required him to deposit all customer checks against his loan balance. When he needed money we used his line of credit to cover his checks. Unfortunately, David violated our agreement, and our trust, and kept many of his customer’s checks. This ...
At 25 years of age I launched a car rental business. Interest rates then skyrocketed to 21% and unemployment to 13%. After that experience I vowed to never start another business! So, in 1995 when God led me to launch a consulting practice, my fears were overwhelming. My fears were not uncommon. According to a Wall Street Journal interview, Philipp ...
Equipping Others to Do Work Differently
