Category: Insight to Business

Training Advisers


If your only tool is a pipe wrench, you will tend to see every problem as a pipe. The lesson. New advisers and old advisers need to be humble. One method, no matter how wonderful, does not solve every problem. Despite the limitations of… Continue Reading “Training Advisers”

Building Your Practice – Part 2 – How Big?


Yesterday we talked about customer service and how disappointed clients will eventually inform 235 people about their disappointment. Today is about how big to build a practice so as to minimize the disappointments. A recent article in Bloomberg Businessweek on “Dunbar’s Number” deals with… Continue Reading “Building Your Practice – Part 2 – How Big?”

Building Your Practice – Part 1 – Customer Service


Financial Services is a relationship intense business. If you handle relationships poorly or even just adequately, you may get seriously adverse blow-back. Here a few things to think about as you build your practice, your systems and your methods. Tomorrow we will talk about… Continue Reading “Building Your Practice – Part 1 – Customer Service”

What Business Are You In?


Theodore Levitt, was a marketing professor at the Harvard Business School. This point is from 1956. (Note to self: The more things change, the more they remain the same.) “The railroads did not stop growing because the need for passenger and freight transportation declined.… Continue Reading “What Business Are You In?”

Business Fundamentals Should Affect How You Think


A given technique may be crucial in one business and unimportant in another. It is smart to know which ones you need to know. One of the important ones is noticing which pays better for you, – Effectiveness or Efficiency. Efficient is doing things… Continue Reading “Business Fundamentals Should Affect How You Think”

Are You A Bird or A Squirrel?


There are two ways to reach your objectives.  Like a squirrel or like a bird.  Each has advantages and each has disadvantages.  You will do better if you can see both methods. Think of a tree as the set of all possible opportunities. A… Continue Reading “Are You A Bird or A Squirrel?”

All ‘Round Like An Orange


GE is a company that understands management and they have systematized their knowledge.  They have developed techniques that help them.  Some are useful elsewhere. Suppose you have a clearly defined opportunity or a problem that is large enough to affect the entire business.  How… Continue Reading “All ‘Round Like An Orange”

Large Numbers Are Confusing


Million. Billion. Trillion. Similar right? Not so much! Numbers, especially large numbers, need context to make sense. If you count one number a second you will reach a million in 1,000,000 seconds. That is not surprising really. 11.6 days. A billion will take longer.… Continue Reading “Large Numbers Are Confusing”

What You Don’t Know Will Hurt You


Ignorance more frequently begets confidence than does knowledge. – Charles Darwin. In the Art of War, Chinese military theorist and general, Sun Tzu claims that if you know yourself and know the enemy, you win every battle. If you know yourself and not the… Continue Reading “What You Don’t Know Will Hurt You”

The Good Idea Paradox


No one has ever lost big money with a bad idea. Because no one can get big money to lose with a bad idea. The danger is in good ideas. You can get money for them and pretty well everyone has a good idea… Continue Reading “The Good Idea Paradox”

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