Business Tips by Chris Reich
Tips from growing a business to dealing with disputes1 Way to Improve Your Business for FREE
Go to Google, Bing, Yahoo and search for business directory. Look at each directory and be sure your business is listed. There may be some you'll want to skip. Most will supply a free link to your business. Do it!Then, search for directories for your industry. For...
Business Is Not a Reality TV Show
It's nothing new but we need to start working on this: Office Politics.Operating a business is not a game show. It's serious stuff. A business produces income that supports families. Business is the real life blood of the American economy, not oil. When businesses...
Formula for Guaranteed Business Success
Formula for Business Success Business = small idea Multiplied by [THINKING, HOMEPAGE, ETHICS, ORGANIZATION] (Note: THEO is Greek for "gods" or, luck, if you prefer, which you will need to succeed) divided by MANAGEMENT because Management almost always diminishes...
Uneducated People Believe Dumb Stuff
This past week stunned me. I was caught completely off guard by the public foolishness and ignorance over TSA's attempts to keep air travel as safe as possible. My frustration started with a post by a Facebook "friend". Note: Most of my friends aren't on Facebook. I...
Management by Bullets
Businesses are enamored with "metrics". Management wants to measure and graph everything possible. It's fun to look at colorful graphs and shoot at performance shortfalls at business meetings. Johnson, it looks like your sales aren't trending in the right...
Why I’m NOT a Team Builder Rant #’s 1&2
Rant #1 Team Building Does Not WorkI think we need to teach "teams" to get out of the way of talented individuals. Numerous examples. Take the BP spill. They don't need a team or a village, they need people with talent to solve the problem, then they need people with...
Why Does Inventory Turnover Matter?
Employees often complain about their company's tight inventory. Managers complain about tight inventory budgets. Buyers complain about not getting approval to buy sufficient quantity of a given item to get a 10% discount.So what's the benefit of a tight inventory?...
The Past Does Not Predict the Future
One of the biggest problems with many American companies is the loss of nimbleness. Corporations are so weighted by forecasts and metrics they no longer can react with agility. I believe too many business decisions are based on looking through the rear-view...
Failure IS Beneficial
When everything goes as planned, we learn little. In fact, each success causes a little loss of hearing and sight. The spotlights blind, the applause deafens. Failure, on the other hand, should heighten the senses. If we're smart.When something goes wrong, get...
Reich’s Law of Business
I posted this on BizPhyZ.com but wanted my readers here to see it.... Murphy's Law: Anything that CAN go wrong, WILL go wrong. Let's talk about this. Most people take Murphy's Law too lightly. They see it as a sort of humorous expression about failure. But it's a lot...
The Nut Factor
I believe I have found what is probably the most important long range economic indicator ever charted. It's the "Nut Factor". It starts with lots of UFO reports. (90's?) Then you start to see TV shows of people 'contacting' the dead. When you see rises in these two...
What is Leadership?
Let's start by saying what leadership is NOT. Leadership is not where you go for approval. Leadership is not the brick wall that stops new ideas from going forward. Leadership is not the guy who opens the meeting up for discussion. Leadership is not the gal [sic] you...
Entropy
EntropyThis is a word you had better learn.Entropy is the conveyor belt your business is built on. It is moving backwards all the time. It never stops.So, if you are improving things at your business just a little---a little better service, a little product...
Physics Lesson
F=M*A Do you know what that means? You should. It can determine the fate of your business. It means FORCE = MASS X ACCELERATION So what and how how does that apply to business? OK. I have a 15 pound bowling ball. I rest it gently on a glass table. There it sits. The...
Remember When a Hershey Bar Symbolized America?
READING, Pa. (AP) -- Production of York Peppermint Patties and other candy brands is coming to an end at The Hershey Co. plant in Reading, Pa.After 23 years in Reading, the chocolate maker is closing the plant Friday and moving production to a new factory it has built...
Do Little Improvements REALLY Yield BIG Results?
As I hope you know, my business theme is that small changes lead to big results. I am constantly frustrated by managers and CEOs who do not understand this very, very, very important concept. When businesses hire me, they often want the big change, the huge...
Ethics Matter
New York, July 3, 2008.The former chief executive of Refco Inc. was sentenced Thursday to 16 years in prison for a financial cover-up that brought down one of the world's largest commodities brokerages.Phillip Bennett, 59, a British citizen living in Gladstone, N.J.,...
Not Enough Meetings
The problem is not too many meetings. Most meetings are not productive relative to the time spent meeting. People believe they could be getting more done with the time consumed by meetings. This is generally true. But that's because you don't have enough meetings. I...