Kathy had been negotiating with a contractor named Luther on a project for our home. We were supposed to sign a contract the following morning, but I needed to change the time. Although it was 11:30 at night, Kathy texted Luther to modify our appointment. Luther and I had not met, so the next morning Luther astutely realized he needed ...
Many in the business world have a scarcity mindset. These leaders believe that business is a zero-sum game; if you win, I lose. Therefore, every competitor is a threat that should be squashed. If a competitor is harming customers and the industry’s reputation, helping to eliminate the competition may be appropriate. But usually, we ought to encourage competitors rather than ...
Years ago, in my consulting practice, I worked with companies from a variety of industries. On occasion some would contest my recommendations on improving their profitability, claiming I didn’t understand their industry. One approach I found effective in that case was using their own experiences against them. By reviewing multiple years of their company finances, I usually could find examples ...
At this year’s National Prayer Breakfast, President Biden pointed out that early in his Senate career Republicans and Democrats would fiercely debate their ideas during the day. But come evening, many Republicans and Democrats would dine together, even after deep disagreements. President Biden wrapped up his story by saying, “I think it’s time we go back to the way it ...
Previously, we discussed the Federal Trade Commission’s desire to eliminate most noncompete agreements. One common use of noncompetes is for the protection of trade secrets. If the FTC eliminates noncompetes, a possible substitute that can help protect your trade secrets can be a non-disclosure agreement. A non-disclosure agreement requires the signer to agree not to share the trade secrets ...
In this series, we’re discussing different approaches to leading a company through a recession. Many financially driven leaders will jeopardize their supplier relationships during a recession. The financially driven sometimes start demanding price concessions and begin paying their vendors much slower. A visionary may take a longer-term view. By offering to pay your vendors early, or at least ...
Thirty-nine states have now legalized marijuana in some form. This has increased the business community’s risk. In these states, employees can now legally smoke a joint on break. The difference from cigarettes is that marijuana alters people’s judgment and behavior. This can put employers at risk, especially if your employees are high when driving a company vehicle, or even making ...
Years ago, I spent time with a gentleman in Georgia who had developed ethical training for business leaders based on the Ten Commandments. His application to business was intriguing. As a child, I memorized the Ten Commandments, but that seems infrequent today. In this series, I want to remind us of God’s commands and share how they might impact ...
Throughout my life, I’ve typically performed best under pressure. So, it seemed natural for me to wait until the last minute to study for a test or finish a project. Although my reactive ways have worked fine for me, I’ve learned that this habit doesn’t work well for my team. My delayed response on any given project dramatically impacts ...
Senator Rand Paul has been trying to uncover whether employees at the National Institute of Health are receiving royalties from companies that receive NIH drug contracts. Senator Paul feels stonewalled by the NIH. Senator Paul discovered that $193 million in royalty payments have been made to approximately 1800 employees of the NIH. He was unable to find out, however, ...
Equipping Others to Do Work Differently
