“Stakeholder capitalism” encourages companies to be run for the benefit of all stakeholders, including customers, suppliers, employees, investors and communities. But what is a CEO to do when different stakeholders have different priorities? In today’s world, different stakeholders demand attention for the environment, racial injustice, and political issues, while expecting you to still run a profitable company. For Biblically grounded ...
Mackenzie Scott, Jeff Bezos’ former wife, recently announced that she is giving $2.7 billion to 286 charities. That’s on average almost $10 million per charity. Too often organizations who receive a large one-time gift find ruin when they add expenses based on the new gift, hoping to replace the funds in later years. Many businesses also find themselves in trouble ...
One of our core values at Unconventional Business Network is being open to God-sized possibilities. One way we apply that value is in our budget. Annually, we prepare two budgets, a “likely” one and a God-sized hopeful one. We want God to have room to do the impossible. In 2020, it seemed unlikely we could reach our likely budget for ...
In this series, we’re discussing how to inflation proof your business. With interest rates at all-time lows, company debt has surged. If inflation begins to rise, your debt could begin costing you significantly more when the Federal Reserve begins fighting inflation with higher interest rates. My very first, and last, small business loan was at 18% interest. That experience taught ...
In this series, we’re discussing how to inflation proof your business. When expenses increase due to inflation, your net profit will be negatively impacted unless you increase revenue. In my experience, small businesses are more reluctant to implement price increases than most large businesses. There is certainly reason for concern, but price increases are usually less traumatic than most realize. ...
In this series, we’re discussing how to inflation proof your business. A friend owns a chain of restaurants. He was concerned when he discovered that people were selling large quantities of ketchup packets on eBay. He realized a shortage of ketchup and increased prices were coming. He called his suppliers and asked for all the ketchup they could find. He ...
In this series, we’re discussing how to inflation proof your business. For most businesses, payroll costs are their largest expense item. Recently, President Biden signed an order requiring all federal contractors, including any subcontractors, to increase their minimum wage from $10.95 an hour to $15 per hour in 2022. This action will drive wages higher and force the private sector ...
According to new research from Bank of America Securities, mentions of inflation by CEOs have exploded 800% year-over-year. With age comes some added responsibility to share experiences. As inflation discussions have increased dramatically, I realized I have some experiences that many leaders have not had. If you are under 50 years old, you have never experienced inflation above 5% in ...
Scott Tucker was a race car driver who amassed tremendous wealth by charging borrowers incredibly high interest rates through his payday lending operation. Tucker is currently spending 16 years in prison for criminal racketeering. There are many victims of Tucker’s operation who would like to see restitution. The Federal Trade Commission levied $1.27 billion against Tucker to repay victims. But ...
Zachary Horwitz, a virtually unknown actor in Hollywood, allegedly paid for his lavish lifestyle through a Ponzi scheme. According to the Wall Street Journal, Horwitz bilked investors out of $690 million by claiming he had licensing rights to movies that he was selling to Netflix and HBO! Since Ponzi schemes are sustained by obtaining money from new investors, Horwitz’s plot ...
Equipping Others to Do Work Differently
