Monday, August 29, 2016

Your Business Is Not Your Baby

I will start out here by telling you something that you need to hear. Your business (or product, or project, or work product) is not your baby. Nope, it's not. In fact, it's not a sentient being at all, because it's a business (or project or something like that). Shocking, eh?

When I phrase it that way, you probably think I am stating some obvious fact and being ridiculous. I am. But if as you read this, you start defending the position with statements like, "Well of course I would never mean that the business was a real baby," then you are exactly who needs to understand why this thing you work on isn't even a figurative baby.

Tuesday, August 23, 2016

Hooray! It's the First Day of School!

Do you remember the anticipation you had as a kid of the first day of school?

School started yesterday here in Texas, and parents the state over probably shouted for joy, either at the idea of getting the kids out of the house or (as is our case), settling back into a solid routine. Kids also exploded with excitement over what the new year would bring.

School to a kid always meant new opportunities, new clothes, new friends, new teachers, new things to learn, and a fresh slate to start the year. While I always lamented the end of summer, the adrenaline and freshness of a new experience usually won out.

We can learn a lot from how we felt as kids and look at the approach of Labor Day as an opportunity to reflect and refresh our outlook. It's a great annual reminder to take stock in where we are (like New Year's Day, birthdays, or other milestones).

Monday, August 1, 2016

Don't Put All Your Eggs In One Basket

We've all heard the expression about keeping our eggs in one basket. Don't do it. Diversification reduces risk to your portfolio.

But how do you know if your business has its eggs in the appropriate number of baskets? And what areas should you evaluate?