Ten Fatal Mistakes Business Owners Make – No. 9: Failure to Set Up Reasonable Restrictive Covenants

Every evening at closing time, your employees walk out the door with your company’s most prized possessions – your intangible assets.  If everything goes as planned, they bring those assets back the next day intact. Intangible assets account for more than 75 percent of the value of a publicly traded company; for smaller companies, that amount may be even …

Create an Environment of Excellence

A good friend is having his knee surgically replaced, about four years after having his other knee replaced.  His first surgery relieved the constant pain he was experiencing and allowed him to maintain an active lifestyle.  By all accounts, it was a success. And yet, he has chosen a different surgeon to perform the second …

Do You Own a Business or a Job?

You have set up a corporation, designed a stunning logo, and registered your trade name.  You have opened a bank account in the name of your company, rented office space, and begun wooing clients.  You’re a business owner, right? Not necessarily. Many people — perhaps even most — who consider themselves business owners don’t really …

Black Hats and White Hats: Establish Expectations Early, Enforce Consistently

(Part Ten in a Series) A key employee has just left your company, joined your fiercest competitor, and begun a brain dump of your most critical intangible assets.  What can you do? If this is the first time you have thought about protecting your intangible assets, the unfortunate answer is, “Not much.”  That ship has …

More Business Books You Need to Read

Your business will wither and die if you do not continuously add to your knowledge base. We’ve previously discussed three great business books — What Clients Love, World Wide Rave, and Made to Stick — that can help you change your way of thinking about how to do business.  Here are three more of my favorite business books. The New Rules of …

Recipe: Asparagus Leek Chowder

At the request of my Twitter friends Greg George and Pamela Woldow, here is the recipe for one of my family’s favorite soups, Asparagus Leek Chowder. It’s simple to make and very tasty.  Asparagus Leek Chowder (From Taste of Home 2005: Annual Recipes) 1 pound  fresh asparagus, trimmed and cut into one-inch pieces  3 cups sliced fresh mushrooms                      3 …

Black Hats and White Hats: Create a Culture of Confidentiality

(Part Nine in a Series) Do you expect others to secure your secrets, protect your patents, and guard your goodwill?  Then respect the intangible assets of others. Even if you have implemented sound policies and procedures to protect your intangible assets, your policies will fail if you do not have buy-in from your employees.  You can …

Everybody Has a Brand: Overcoming Indifference and Hypocrisy

Building your brand is like doing house work. Say what? You heard me. Building your brand is like doing house work. Or, if you prefer, it’s like doing yard work. Or raising children. Or doing dishes. You get the idea. Your work is Always and Never Done. You never stop building your brand. No matter …

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