business practices: Basing your business on anecdotes is like buying lottery tickets!
- 11/14/14 01:59 AM
Too often I read about some miraculous result based on an unorthodox premise that is purporting to go against the grain of conventional wisdom. But the wise reader is cautious and takes such anecdotes with a grain of salt. Because there is no cut and dry pattern of human behavior, one cannot expect any particular result. But if the same scenario has been played over time and time again and one can measure results, one can at the very least, have a statistical basis for decision making purposes. Here are some examples of what I am trying to say: “I bought … (5 comments)
business practices: Religion, politics and sports! We all have opinions, but what is their place in business?
- 09/12/10 02:06 AM
Some years ago I had a business partner that was one of the biggest Georgia Tech fans EVER! His office was a shrine to the Yellow Jackets, rife with paraphernalia and memorabilia dedicated to his favorite team. When I asked him if he would “tone it down” a bit, he became offended. He belligerently stated that if people couldn’t accept him for “who he was,” then they didn’t have to deal with him. Which meant that he was knowingly drawing a line in the sand based upon a trivial affectation for a particular university’s sports franchise. And were he to … (72 comments)
business practices: Not every business that fails can blame it on the economy!
- 06/10/10 01:07 PM
In bad economic times, it is always likely that some businesses will fail. Decreased consumer spending combines with tightening credit can spell disaster for enterprise that are on the brink of profitability. But not every business closure can be blamed on the economy. In bad times, just like during good times, some businesses fail do to bad management and poor planning. Many are run entirely on credit and with limited cash reserves. They spend money frivolously as fast as they get it. Many fail to “set aside” during the fat years and simply starve from within during the lean ones. Sometimes … (15 comments)
Too often I read about some miraculous result based on an unorthodox premise that is purporting to go against the grain of conventional wisdom.
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