When building a business, add something to it, right?  Wrong.  When improving a business, the secret is to reduce or remove something.  When a business is simplified, disturbances and issues stand in stark contrast to serene order. 

Based on what our clients are experiencing, you are probably aware of the tight labor market.  With 4.1% unemployment, some of our clients struggle finding talent.  Entry level talent, supervisors/project managers and even CFOs are difficult to find.  Here are some ideas that our clients are using to capture and retain talent.

It's time to get off the speeding train and take a moment to take stock.  We are fond of saying that “Traction is a good business book” AND that “Traction is NOT the last best business book that will be written.”  One of the things that Traction got right is the need for weekly, monthly and quarterly check points on progress toward strategic business goals.

There is a Norwegian adage; “There is no bad weather, only bad clothing.”  I was reminded of this adage this morning as I was out in the rain, in my North Face Drizzle, taking photos of rain hitting the surface of a pond in our neighborhood.

Assessing and managing business performance has two dimensions to it.  The first is managing day to day performance.  This involves making performance visible and then discussing the difference between desired performance and actual performance.  The second dimension of performance management is related to managing the development and progress of initiatives.  This aspect combines traditional project management discipline with performance management.

Driving Business Value starts with strategic decisions.  Determine a three-year breakthrough goal that goes beyond incremental improvement in the current business.  Stretch BEYOND what you are capable of doing today.

As I write this, Ed Sheeran is performing “I Love the Shape of You” live, looping his chorus and singing the melody over top of his own live instrumental tracks at the Grammys. Pretty amazing. And something that knowledge workers can learn from

If you think vendors are a source of value to be exploited you need to reassess this position. Your vendors and suppliers are almost indistinguishable from employees.  How are vendors like an employee?

As the quarter comes to a close I thought I would share some of what we've been reading about the economy.  The name of this update post is borrowed from the meetings we hold with some of our clients to review progress and adjust course on a quarterly basis.

Here is a profile from the Columbus Chamber Site that describes Redbank Advisors.

I was on my way to an appointment in the Arena District this morning and couldn't resist snapping this photo of Arch park.

I admit it, I used to think that shared values exercises were just so much kumbaya. But, the longer my career, the more I understand them to be critical to any organization’s success. I think the reason so many of us undervalue them is that we've been fortunate enough to work in organizations that worked well and there was a strong sense of shared values. When you have them, it’s hard to imagine what it’s like without them.

Those of you who have been to my office will know that I have seven feet of shelf space dedicated to business books.  None of the books are dogs.  Dogs don’t get saved, they get donated.  But among the keepers, some are timeless core books and some are either too narrow to be used often, or so technically deep that they will expire at some point and be superseded.  Technical books become obsolete fastest because our understanding is expanding so rapidly.  I thought it might be interesting to decide what goes into the Lane Cannon (and thereby what is left out).

It’s a tough question; “What makes a good CEO?”  Here’s an article from the Harvard Business Review about CEO performance.  They rank the 100 top performing CEOs.  Their criteria include total shareholder return, and market capitalization.  They also used a ranking provided by the Reputation Institute to measure intangibles.

Facing a new challenge? Wondering where the answer will come from?  Click here for some ideas for where to look for insight from Harvard Business Review.  I think this article is a good source for idea generation/discovery. 

My oldest daughter and I recently went diving and hiking in the Galapagos islands, long a bucket list destination of mine.  In Puerto Ayora, the principle town and jumping off point for adventures, they sell a tee shirt that says:

It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change  – Charles Darwin

Here’s an acid test for whether a business is getting stronger or weaker.  Take earnings before interest, taxes, depreciation, and amortization EBITDA and divide it by revenue

I think this post by Seth Godin is a great take on an important issue to customer satisfaction.  As we scale, how do we treat our customers and clients?  The default is not good.