Category Archives: Protecting the business

Here’s a rule for companies with outstanding loans

  Here is one that is so important to the continued health of a growing company that it cannot be overstated. It’s a bit complex for novices. But hang in there as I explain a bit about accounting classification of … Continue reading

Posted in Protecting the business | 3 Comments

Have you made the mistake of hiring too soon?

Well, you may not be alone. Many executives and managers have made the mistake of using the financial and sales forecast to plan and execute hiring of new employees – so that they could be trained and up to speed … Continue reading

Posted in Growth!, Protecting the business | 1 Comment

So, what if you run out of money?

Money in the bank is like oil in the car. Certainly, you have many ways you are pulled every day, both tactical and strategic. But when money is the issue, your time, energy and focus are drained from other important … Continue reading

Posted in Hedging against downturns, Protecting the business | 2 Comments

The 18-month rule and a harrowing tale

It can take 18 months from initial concern about a critical employee to getting a replacement up to speed. Of course, I’ll tell another harrowing story here. But first. an old friend, Dick Tanaka, gets credit for the 18-month rule.  … Continue reading

Posted in Depending upon others, Growth!, Protecting the business | 5 Comments

Entrepreneurs: Employment law is not on your side!

Small companies most often scrape by with borrowed or invested funds, doing everything possible to grow and prosper with limited resources.  So, it is like a punch in the gut when an employee makes a claim against the company for … Continue reading

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Insurance is always too expensive – until it’s needed.

I expect that you have a story about how insurance saved you lots of money in your past. As usual, I have a story to make your hair stand on end. But first: here’s a fact. Business insurance is one … Continue reading

Posted in General, Protecting the business | 1 Comment

Any advice can be worthless, or worse.

Ever get bad advice? Sure. We all have in our past. Ever take that advice without question because the person giving it was an investor, a superior in rank, the chairperson of your board?  I’ll bet you have at least … Continue reading

Posted in Depending upon others, Protecting the business, Surrounding yourself with talent | 3 Comments

I won’t serve on a board without D&O insurance!

I’ve been sued as a board member too many times over the past twenty-five years of board service.  Five times. Does that shock you?  It does me.  Entrepreneurs blaming their board for failures of a fragile, early stage company.  Shareholders … Continue reading

Posted in Protecting the business | 6 Comments

How to cheat legally on your tax return.

When do you cross the line between honesty and dishonesty in tax planning?  Is it ethical to allocate income between periods to take advantage of tax breaks?  Can expenses be put off until the next period to increase income, or … Continue reading

Posted in Protecting the business | 2 Comments

Accounting: What kind of bean counter do you need?

Accountants are trained, certified and usually quite experienced in financial analysis, both creating and reviewing data.  Bookkeepers are often trained on the job although sometimes more formally and handle the physical work of accounting for the transactions.  To expect a … Continue reading

Posted in Depending upon others, Protecting the business, Surrounding yourself with talent | 2 Comments