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| Dec 22, 2023 | Do the banks need a perspective lesson? | article-article-body
The one-way direction that our banks distribute rate pain makes you wonder about their grip on responsibilities as businesses.
Perspective is a fascinating phenomenon because it results in one entity being seen differen... |
| Dec 22, 2023 | Acorns, oaks, behemoths | article-article-body
What we can learn from Ikea and other big companies that were once small.
Thoughts occur to you in the strangest of places. The other day I was sitting in the cafeteria at Ikea and was attracted to a sign on the wall. I... |
| Dec 22, 2023 | Growth: A skill you can practice | article-article-body
Does hitting the wrong note really matter? Well…
There is a competition going on at the moment called the Sydney International Piano Competition of Australia. It attracts young pianists from all over the world.
For some... |
| Dec 22, 2023 | The big downsize mistake | article-article-body
Thinking of cutting costs or downsizing? Count to 10, and then read this… LOUIS COUTTS
By Louis Coutts
In management, there are two events, one being controllable and the other uncontrollable. Theory is that as we canno... |
| Dec 22, 2023 | Markets and the laws of physics | article-article-body
The motion of the markets overall, a downward trajectory, requires a compelling force to change direction. So far, no-one seems to be able to supply that force.
Physics wasn’t really my strength at school. I was too bus... |
| Dec 22, 2023 | Surviving the downturn | article-article-body
Here are some tactics that have worked before, and will work again, if you want your business to see the other side of these present difficulties.
I see that at the bottom of this little piece that I write each week the... |
| Dec 22, 2023 | Lessons from history | article-article-body
Short term concentration on KPIs which are tied up with incentives have always been and always will be a recipe for disaster. LOUIS COUTTS
By Louis Coutts
The historian Arnold Toynbee, in his monumental work “A study of... |
| Dec 22, 2023 | You need all the help you can get | article-article-body
When you are growing or starting a business, accurately costing the risks associated with the process is crucial. LOUIS COUTTS
By Louis Coutts
Sometimes you realise that you simply don’t know what is going on behind the... |
| Dec 22, 2023 | Small things | article-article-body
Small things can be the opportunities for big reputations, or they can be stepping stones to disaster. LOUIS COUTTS
By Louis Coutts
The first time it was only $3.35 and I wasn’t going to worry about it until I just glim... |
| Dec 22, 2023 | Exchange is the key to staying in business | article-article-body
People still don’t get it. If we constantly look upon the customer as just a source of revenue, there will always be a time of reckoning.
Quite a few of my clients have been pressing me in recent times to develop an edu... |
| Dec 22, 2023 | A lesson in quality | article-article-body
Joseph Juran; ever heard of him? If you want to grow your business, maybe you should read on. LOUIS COUTTS
By Louis Coutts
I received a great shock today. I was doing some research for this education program that I am w... |
| Dec 22, 2023 | You can’t beat arithmetic! | article-article-body
There is some simple arithmetic of which people running a business (including big businesses) ought to be aware if they want to survive.
What is compelling about arithmetic is its inescapable logic. Two plus two always ... |
| Dec 22, 2023 | Planning mistakes that will lead to failure | article-article-body
Last week in Darwin I came across a shopkeeper who had made every mistake in the book.
I was in Darwin the other day. It’s damned hot in Darwin. I remember how hot it is because I worked there years ago as a young lawye... |
| Dec 22, 2023 | Four rules of management | article-article-body
Unfortunately quite a few businesses that are in fact salvageable end up in liquidation unnecessarily. There are alternatives that can be explored. LOUIS COUTTS
By Louis Coutts
This blog first appeared 3 November 2008
W... |
| Dec 22, 2023 | Listening is better than telling | article-article-body
A business that has satisfied staff usually has satisfied customers. Funny that. LOUIS COUTTS
By Louis Coutts
Teaching is the most phenomenal way to learn. Two important things happen to me when I am teaching.
The first... |
| Dec 22, 2023 | Always ask: does this work for the customer? | article-article-body
Here’s a simple business model that we may have missed on our rush to incentivise. LOUIS COUTTS
By Louis Coutts
I came across a story the other day. In fact it was an article published in the June issue of the Harvard B... |
| Dec 22, 2023 | Remuneration rumblings | article-article-body
I have acted as a CEO in turnaround situations many times. And let me tell you – the argument put forward by those who would justify the grotesque amounts paid particularly (but not exclusively) to CEOs is baloney.
Whil... |
| Dec 22, 2023 | Never be frightened of feedback | article-article-body
Creating a culture where customers feel comfortable giving you feedback will help keep your business customer-focused.
Andy Gove, famous for founding and being the CEO of Intel, was fond of saying: “We can only fix the ... |
| Dec 22, 2023 | Strive within your means | article-article-body
It is always better for a customer to wonder why the hell you won’t take on their project than for you to wonder why the hell you did. LOUIS COUTTS
By Louis Coutts
I had a sad call this week. Years ago I was retained to... |
| Dec 22, 2023 | Mind the gap | article-article-body
There are many SMEs that I come across that believe they have a monopoly and do silly things to protect that monopoly.
Ever heard of Braniff Airlines? In the late ‘60s and early ‘70s, it was one of the biggest airlines ... |
| Dec 22, 2023 | Don’t let HR stunt your growth | article-article-body
If we hire people who are conventional, play it safe and avoid risk, it might be fine; but differentiation is the key to competitive strategy – and maybe survival.
I was talking with a guy the other day and it turned ou... |
| Dec 22, 2023 | It can’t happen to me (but it did) | article-article-body
There is a bigger threat to business growth than budget changes or tax system tweaking, and mostly we are doing nothing about it. LOUIS COUTTS
By Louis Coutts
There is a difference between knowing that things aren’t qui... |
| Dec 22, 2023 | Robust information beats betting | article-article-body
Business conditions can change, so have a plan B, even in the midst of successful growth.
There is that famous quip, attributed to an anonymous bookie but more likely to be the output of a genius in financial analysis, ... |
| Dec 22, 2023 | Culture is the secret to success | article-article-body
As the economy turns south, companies need to realise that a strong culture is key to survival.
In a recent article in Fortune, the author Jim Collins (author of Good to Great) pondered the seeming fickleness of growth ... |
| Dec 22, 2023 | Meeting competitive threats in a tight market | article-article-body
Often the threats to our business emerge from unexpected quarters. Where will they emerge in this tight market?
There isn’t any doubt that things are getting tighter in the market place. This means that the sustainabili... |
| Dec 22, 2023 | Carrot on a stick remuneration is bad news | article-article-body
Bribery: Another word for incentive payments. LOUIS COUTTS
By Louis Coutts
They are strange times. Doom and gloom is splattered across our media as though it is the greatest news since the announcement of the end of the... |
| Dec 22, 2023 | The forgotten art of the follow-up | article-article-body
A simple annual greeting card can do wonders for a business – all part of the art of the follow-up, which is neglected at untold cost. The forgotten art of the follow-up
Over Christmas I received Christmas greetings fro... |
| Dec 22, 2023 | The downturn and silent socialism | article-article-body
Job losses are part of the recessionary landscape, right? Just imagine if the social security financial consequences fell on private industry, not on taxpayer dollars.
I was going to talk about CEOs and the ridiculous r... |
| Dec 22, 2023 | Never forget good communication | article-article-body
Managerial decisions make a lot more sense if the people who will be affected by them are consulted. LOUIS COUTTS
By Louis Coutts
I forget things like my wallet, my phone, my glasses, my car keys or my lap top. But they... |
| Dec 22, 2023 | Market forces (a.k.a. customers) | article-article-body
Who is pulling the strings of the global economy? Certainly not the ‘authorities’. LOUIS COUTTS
By Louis Coutts
Do you know what is happening? More importantly, do you know what is going to happen tomorrow? More importa... |
| Dec 22, 2023 | The limits on growth | article-article-body
Each of us can make a difference. We just need to stay aware of what’s important.
I had the good fortune to do philosophy at the university as an elective subject. I remember one evening our tutor posing a question. “If... |
| Dec 22, 2023 | Growth by trust | article-article-body
Respect and trust are such potent client relationship tools. LOUIS COUTTS
By Louis Coutts
For ecological and nostalgic reasons, I hate to trade in a car on a new one. Every new car is an additional drain on the resource... |
| Dec 22, 2023 | The ‘TED spread’ | article-article-body
How the crisis is unfolding, and the technical reasons behind the bailout. LOUIS COUTTS
By Louis Coutts
Because of quite a bit of feedback as a result of my article on the credit crisis, I thought it would be worthwhile... |
| Dec 22, 2023 | The babysitting club, or how not to grow | article-article-body
How the credit crisis came about can be explained in a straightforward way – getting out of the mess is another matter. Here’s what we know so far…
There is a quite famous economist by the name of Paul Krugman, once at ... |
| Dec 22, 2023 | The competitive strategies | article-article-body
No business can grow without being competitive, and there are only a few simple rules to stick with to make that happen.
I am working with some people on a start up at the moment, but when looking into their business pl... |
| Dec 22, 2023 | Just ask yourself a few questions | article-article-body
Reminder: If you don’t know where you are going, sure as hell you are not going to get there.
Would you drive on a dark night with a blind on your windscreen and no headlights? Would you drive a 100/hr in pea soup fog w... |
| Dec 22, 2023 | Get off the bus (this one’s broken) | article-article-body
While the change of the last digit that marks some fictitious point in our history we call the “year” only takes a second, and in a sense is meaningless, the fact that it occurs during a break in our lives for those who... |
| Dec 22, 2023 | Cost leadership | article-article-body
Cost leadership isn’t about slashing your pricing; it’s about eliminating waste, encouraging constant innovation and boosting your margins.
A couple of weeks ago I talked about Michael Porter’s competitive strategies. Y... |
| Dec 22, 2023 | It pays to care | article-article-body
It constantly amazes me how invaluable knowledge is concealed from decision makers.
It constantly amazes me how invaluable knowledge is concealed from decision makers across organisations around the world.
I came across... |
| Dec 22, 2023 | Putting your head in the sand won’t help | article-article-body
Don’t worry so much about today’s cash register; plan for how you would like it in the future.
The cash register is not turning over; the phones are not ringing; stock is on the shelves and not moving – has the end of t... |
| Dec 22, 2023 | The GM syndrome | article-article-body
Late in October 2008 as the senior executives of one of America’s longest established companies mulled over the most recent financial statements it became clear that it was not going to be able to pay its bills going in... |
| Dec 22, 2023 | Peddling hard on the cash cycle | article-article-body
Sometimes you can make more money by cutting your charges. How does that work? Let’s do the maths.
I had an interesting experience the other day. A guy told me he was sure his competitors would go out of business.
“How ... |
| Dec 22, 2023 | Don’t be bean-counted to death | article-article-body
A salient story about shying away from innovation in tough times makes sobering reading.
Plus ca change, plus c’est la même chose is the quotation made famous by the French journalist Jean-Baptiste Alphonse Karr, which ... |
| Dec 22, 2023 | Denial | article-article-body
There is a tendency to ignore signals when times are good and then to panic when things have turned a little sour. However, at any point of time in the life a business, there are certain disciplines that will help deter... |
| Dec 22, 2023 | The Emperor’s new clothes | article-article-body
Ever heard of the Emperor’s new clothes? There’s a financial institution that is hoping you haven’t…
The Reserve Bank wants to reduce the rate of inflation, which is a measure of the extent of price increases; so it inc... |
| Dec 22, 2023 | Behind the bale-out | article-article-body
Hopefully, we will come out of all this with our bank balance and house intact.
I have seen so much stuff lately that I am convinced that we are in a no man’s land where people (bankers, for goodness sake) make predicti... |
| Dec 22, 2023 | Spin doctors | article-article-body
Emperor, new clothes, RBA… you know the story.
This week I was reminded of experiences I had as a kid. When I was ill, my mother would take me to the doctor who would write a prescription and say something like “try thi... |
| Dec 22, 2023 | Cashflow and survival | article-article-body
This is a story about cash. Cash is the life blood of a business. Now, I know that everyone will say “so what, everyone knows that”.
Unfortunately, while they might know it, many people ignore the fact, and managers so ... |