"Frank's skill in asking the right questions is un-mistakable, and is at the core of his leadership philosophy.

The power of these questions cannot be underestimated, especially if you want to lead and not manage."
—John Cave
Westhaven Worldwide Logistics

If not otherwise stated—all postings © Frank D. Kanu. All rights reserved.

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Making Money Is Important.

It’s a simple concept: either the company makes money or goes out of business. This is even true for charities and the government! This is very often overlooked because the ways you run a profitable business, a charity, or a country are different. Nonetheless they all have to make sure of the needed funding and encourage the customers/donors/citizens to buy them.

Is making money important for your business?

Are you making money?

Pressing the Budget Too Tight

    When you begin with unrealistic budget goals, chaos is bound to set in. Departments fall behind, resources are slow to arrive, and ultimately missions run off the road. The easiest way to avoid having this happen is to create an accurate budget. That means outlining ways to implement better upfront resource planning.

    Let me add that it’s wrong to meet cost savings with potentially punitive measures. What I mean is the old adage “If you don’t spend your whole budget this year, you’ll get less next year” mindset. If a department has saved money and come in under budget, why not consider giving part of those savings back in the form of bonuses? The upfront cost will be offset by higher productivity, and more cost conscious employees.

Do you have a budget?

Do you review it constantly?

Are employees cost conscious?


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Four other Opinions:

  1. Josh
    09:08 on Friday, March 21st, 2008
    I think that the number one problem that people have is under preparing, we as human are normal optimistic. But you are correct proper planning will solve most these issues.
  2. Frank Kanu
    09:44 on Friday, March 21st, 2008
    You are right Josh.

    I am almost amazed how many forget to plan. Or to have a vision…
  3. Blue Licorice
    01:19 on Sunday, March 23rd, 2008
    Inappropriate preparation for a business can certainly spell disaster, and a quick shut-down of that business. Many people seem to think opening one is as simple as going to get the license for it. How mistaken they are!
  4. Frank Kanu
    07:53 on Sunday, March 23rd, 2008
    Exactly!

    Do you think it’s related to the wrong education and infomercials talking about how easy it is to make the big bucks?

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