Years ago, I negotiated an employment contract with my employer. It was designed to pay me a significant amount of money if the business was sold. Later, the business was sold, but the buyer considered refusing to pay me. Although the intent of the contract was clear, the wordy legal agreement the attorneys had originally drafted left some ambiguity that ...
This week we’re discussing how to reinvent your business by using the word Renew as an acronym. The N stands for Needs Assessment. A friend of mine was in a rapidly declining industry. He decided to reinvent his business, but he didn’t do a needs assessment to determine all the related costs and risks to make the change. The costs ...
Rick, a reader of our Integrity Moments, had been working with a ministry leader who did something illegal and asked him to follow suit. When Rick refused, he was fired. Rick says our daily newsletter came into his life at that point to heal his heart. Day by day Integrity Moments assured Rick that doing the right thing was more ...
Since December is the biggest giving month of the year, let’s discuss being a Giver this week, using that word as an acronym. The letter V stands for Virtuous. As Christians, we need to be virtuous with our choices of charitable giving. An acquaintance of mine once felt called to give away millions of dollars. Although he funded a lot ...
At a recent “Faith at Work Summit,” Doug Napier, with the Alliance Defending Freedom organization, spoke about religious liberties and the challenges many businesses face in today’s times. The very phrase, “Separation of church and state” has been so drummed into many people’s minds that it has distracted many from living out their faith in the workplace. Doug proclaimed, “Are ...
This week we are talking about F.I.T.T. leaders. The I in FITT is for intellectual. As I study the qualities of healthy leaders, a common trait among most of these individuals is their desire to continuously learn. Healthy and effective leaders read books, listen to podcasts, and attend seminars to expand their knowledge. F.I.T.T leaders grow and develop themselves intellectually. ...
The Seventh Key to Financial Success – Turnover Ratios Profit is important, but cash pays the bills. If your inventory, or monies owed to you, grow significantly, you can be profitable, but cash poor. A past bank customer of mine was profitable, but had a cash flow crisis. By calculating how frequently his inventory was turning over, we discovered his ...
The Sixth Key to Financial Success – Leverage At 25 years of age I started a car rental agency! In order to fund this new business I borrowed money personally, and also, from a bank. My new business was highly leveraged with an excessive amount of debt. Before long I discovered that every time the bank demanded something from me, ...
The Fourth Key to Financial Success – Return on Equity A business owner should have two types of returns on the time and money they invest in their business. One is compensation for their work, and the other is a return on their financial investment. If you were investing in a mutual fund, you would want to know how much ...
The First Key to Financial Success – Revenue Growth In my book “Unconventional Business” I discuss Seven Keys to Financial Success. The first key is Revenue Growth. Knowing the pace your revenue grows from year to year is critical in assessing how well your customers appreciate your products. Unfortunately, some pursue more sales in a greedy and unethical manner. A ...
Equipping Others to Do Work Differently
