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Hard decision?

By Alec Pendleton Are you facing a hard decision in your business today?  Let’s face it, the answer to that is usually “yes”.  On any given day, there’s typically something that’s gnawing away at you, something you’re struggling with. To me, the first question to ask is simple: whether or not the decision is really “hard”.  That may sound like a silly question, but really, it’s not.  The question is whether the decision is hard, or just unpleasant. Over many years, I’ve spent a lot of time building up my ulcers, agonizing over some decision or other. Now, looking [...]

By |2016-10-19T15:41:53+00:00October 19th, 2016|Alec Pendleton, Small Business Advice|Comments Off on Hard decision?
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IoT Magic?

  By John R. Brandt Here’s something I bet you didn’t know: The Internet of Things (IoT) isn’t just a digital revolution, but also a magical place in which the ordinary rules of business and finance don’t apply. Don’t believe me? Just ask a bunch of manufacturing executives.[1] First, they’ll tell you that they and their companies aren’t yet ready for the IoT: Only 11% have an IoT process strategy in place, Only 12% have an IoT product strategy in place, and Nearly half (44%) have trouble identifying opportunities to use the IoT in their plants or products Next, [...]

By |2020-10-01T20:32:00+00:00October 13th, 2016|Internet of Things, John R. Brandt, Manufacturing, The MPI Internet of Things Study|Comments Off on IoT Magic?
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Were You Profitable TODAY?

By Alec Pendleton, Big Ideas for Small Companies How much does it cost to operate your business for a day? I have two companies, a manufacturer and a wholesaler.  It costs $34,000 each day to operate the manufacturing company, and $3,200 to operate the wholesaler. Why is that important? It serves as an instant indicator of profitability, and gives me the earliest possible warning of developing problems. The numbers are calculated very simply.  They are the total annual cost of EVERYTHING BUT THE MATERIALS WE USE, divided by the number of days the business operates in a year.  They [...]

By |2016-10-06T14:46:21+00:00October 5th, 2016|Alec Pendleton, Growth, Small Business Advice|Comments Off on Were You Profitable TODAY?
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The Art of Measurement

by Alec Pendleton What do you measure in your business? Too often, the answer is: The wrong stuff. Many leaders simply look at the numbers their accountants or  software give them, without asking: What do I really need to monitor, so that we have opportunities for improved operations — and higher profitability? Paradoxically, when devising measurements to manage by, it’s typically a good first step to decide what NOT to measure. A great example of this can be found in retailing. A retailer doesn’t create value by manufacturing a product. Instead, a retailer creates value by having the right [...]

By |2017-02-09T19:20:00+00:00October 3rd, 2016|Alec Pendleton, Measurement, Thought Leadership|Comments Off on The Art of Measurement
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