In the mid-1980s the retail industry was changing. Walmart was growing rapidly, while Kmart was beginning to decline. Jim, a friend of mine, was an executive at Kmart at the time. Jim remembers Kmart executives holding a weekend retreat specifically to discuss Walmart’s success. Yet, any comments addressing the possibility that Walmart could overtake Kmart were quickly squelched. When ...
Uncertainty is not a friend to business. To make long-term plans, business leaders need some degree of understanding of what is expected to come. That is why election years are often not great years for business. If the business community doesn’t know what to expect, they tend to remain idle on any new projects. Fortunately, for followers of Jesus we ...
As a new father, I found it difficult to consume five hours of family time just to play golf. Twin brothers, Steve and Dave Jolliffe, from the UK, also noted these barriers to golf. They also realized that new microchip technology could make golf more interesting. In 1997, they courageously launched TopGolf to address these issues. For twelve years ...
Olathe Kansas Fire Chief, Jeff DeGraffenreid, recently shared that part of the fire department’s role is to help educate children on fire safety. Years ago, the Olathe Fire Department decided to use clowns to better engage with the children. For years, the program was successful, until recently when clowns became viewed as creepy. Jeff decided to eliminate the clown ...
When I was in banking, we occasionally complained about competing with credit unions and savings and loans. At least they were local, however, and we could compete using a more convenient location. In today’s world, banks, and most other industries, are now competing with online alternatives. Leaders who refuse to seek counsel beyond their traditional industry consultants run the ...
In this series, we’re discussing preparing for economic storms. With inflation and interest rates soaring and the stock market crumbling, the storm clouds appear to be rolling in. One of my favorite indexes is the National Federation of Independent Business Optimism Index. Because it’s a survey of small business owners’ perceptions, it has helped predict economic storms. In ...
When I was young, clothes dryers were a luxury. We took our clothes outside to our clothesline and hung them up for the sun and wind to dry. This required remaining alert for upcoming storms. When dark clouds rolled in or the wind whipped up, we knew to prepare for the storm by gathering our clothes before they were ...
For the first time, it cost me over $50 to fill my car with gas. For me, $5 per gallon gas is an annoyance, but it’s not devastating. For many front-line workers, however, $5 a gallon gas, can devastate your employees and their families. Much more than your highest paid people. These pain points can impact your team’s ability ...
When Jill Donovan, founder of Rustic Cuff’s, launched her jewelry business in Tulsa, God led her to some very creative marketing ideas that worked brilliantly. So, when Jill opened a store in Dallas, she decided to use the same approach with no traditional announcements or marketing. But customers never materialized. Jill told me she learned the hard way that ...
A big surprise many new entrepreneurs experience is their first-year tax bill! For example, a new social media influencer on TikTok receives money from TikTok each month. Many spend that money without considering taxes. What many new entrepreneurs don’t realize is that the money they received throughout the year isn’t really theirs. A significant percent of money earned is owed ...
Equipping Others to Do Work Differently
