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John Fairclough will be judging the Coleman Center’s annual DePaul University New Venture Challenge held February 4th to the 14th. The judges, selected amongst Chicago entrepreneurs, will determine which DePaul student has best met the challenge of an introducing an innovating new venture interest.
The New Venture Challenge […]Continue Reading →
Good entrepreneurs tend to be a misunderstood group. They push when others pull. They take chances when others are cautious. They expand while others contract. All the while, their group of friends and family are left scratching their heads trying to figure out if the entrepreneur is crazy or a genius.
This current downturn in […]Continue Reading →
During difficult economic times, it is important to drive down costs. Although there are many ways to accomplish this, some cost cutting can cause permanent damage to your business. My approach to cost cutting is to turn it into a contest, which I have named “Blood From a Turnip”. Here is an overview.
Find […]Continue Reading →
Gathering pertinent information to make informed decisions leads to greater likelihood of success. I call this task “Workplace Reconnaissance”.
Lets look a common scenario.
The leader of a business is in the middle of working on something important for the future of their company. They are interrupted by a team member who throws a fire […]Continue Reading →
As business owners and managers, we are often put to the test. We face all sorts of situations with which there is handbook on how to deal with the situation. We need to be able to count on ourselves. Here is the test I give myself before taking action.
I imagine my child is watching […]Continue Reading →
All businesses are indirectly in the insurance business. I am not referring to the traditional types of insurance, rather I am referring to the management of risk. The people we hire, the technology we put in place, the operational procedures we produce are all a form of insurance we invest in to protect and strengthen […]Continue Reading →
All too often people share their two cents when not asked. People tend not to follow advice they receive without solicitation. A more effective method of helping one another is through experience sharing.
It is arrogant to assume that you have the answer to someone’s complex problems after briefly hearing about the story. There are […]Continue Reading →
Finding a mentor is one of the best things entrepreneurs can do for their business. Too often small businesses do not have a board of directors to keep them accountable. Therefore they do not perform to their potential. Its like the old adage, what gets managed gets done.
A mentor relationship can add accountability to […]Continue Reading →
There is a certain level of anxiety, nervousness, or uneasiness I feel when someone gives me information. I question the information in my mind. I run it through all kinds of internal tests to see if it makes sense.
The first thing I try to do is verify the information. Too often the information […]Continue Reading →
My approach to the financial aspect of business is best summed up by the oxymoron “Aggressive Conservatism”. I aggressively approach the financial well being of the company in a conservative manner. Let me better explain:
I pay bills faster than terms. This is not what most people would teach because it has the […]Continue Reading →
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