Sunk Costs

by | Aug 5, 2012 | General Business

Sunk costs. During a slow down, many businesses will cling to sunk costs and refuse to see the wisdom of bailing water! A sunk cost is money spent—it’s gone, it’s sunk into something. Let’s say you get the idea that red baseball caps are sure...

Game Theory Concept

by | Aug 2, 2012 | General Business

An SEO firm called me today. I personally do not like SEO firms. Most use underhanded tricks to give a business a short-lived boost in search rankings. Some are okay. This firm “guaranteed” that they would get me more business for less advertising cost....

Would You Do This?

by | Aug 2, 2012 | General Business

I read an interesting article about developing Vs. managing people this morning. It tied to an interesting conversation I had with a new manager yesterday who asked me, “Is teaching them part of MY job? Shouldn’t they know how to do their job if they were...

Where Is Your Pain?

by | Jun 25, 2012 | General Business

I am deep into a study of game theory and finding many key applications to business. Here’s something you might not have ever considered yet is absolutely crucial to your business. If you make a promise and there is no pain to you, the promise is hollow and your...

A Dangerous Assumption

by | Jun 19, 2012 | General Business

There is a dangerous assumption that most people make in business negotiations or transactions. This false assumption often leads to poor, sometimes disastrous, outcomes. What is it?Let’s start by defining “transaction”. As I use the word transaction...

A Reminder

by | Jun 19, 2012 | General Business

I saw this post from a friend and really liked it so I’m passing it on….”Getting a quick “out of the blue” call this morning to be told some really kind things was such a nice gesture 🙂 It only takes a few minutes to reach out to others...