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May 2010
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Chief
Executive Boards International Update
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Think Social Media = Social
Notworking?
You're not alone. Are you wondering what your employees are doing on
their web browsers all day? Larger companies think they know, and they're
doing something about it.
A recent report finds that Facebook's 440 million users
spend an average
of 55 minutes per day on Facebook. Let's assume 1/2 of
those are in the workforce, and 1/2 of that time is spent during the work
day. That's $2 billion per day in salaries spent on employee's Facebook pages.
See
what companies are doing to reduce this productivity drag.....
A Near-Death Experience
I heard a story from a business owner of the "near-death
experience" he had with his business this past year. This company is
well-established, well-run and well-regarded in both its community and its
industry.
 Despite
all that, his bank, under fear of pressure from regulators, declined to advance
him further credit for working capital to support the upturn in business
activity this spring. That's the business equivalent to oxygen
starvation.
He found the money elsewhere, in what I believe is an emerging
trend of business-to-business lending. We're back to the 18th century,
where businesses that need capital borrow it from businesses that have excess
capital and are looking for decent returns. They're willing to lend
to other business owners they know and trust.
3 Personal Strategies for
Living to Fight another Day
"Experience is the worst
teacher -- it gives the test before it presents the lesson"
Vernon Law
That is, unless it's someone else's
experience. There are some great lessons to be learned from not only the
survivors of the 2008-2009 recession, but also from the casualties. Three
of those lessons come from business owners who, despite the failure of their
companies, have landed on their feet and started new ventures in record
time.
Inc. 500|5000 Awards
Application Deadline Extended to May 21
Chief
Executive Boards International is partnering with Inc. Magazine to remind business
owners that May 21st is this year's extended deadline to apply for
recognition as one of the Fastest Growing Private Companies in America.
Several CEBI companies have been previously named to the Inc. 5000, including
Windy City Fieldhouse and O'Neil & Associates in 2009.
Despite the close deadline, we're encouraging companies
who qualify to go ahead and apply now -- the application process is simple,
and takes roughly 20 minutes. The only data required are CY 2006 and CY 2009
revenue. If your company is determined to be in the running, the verification
process follows at a later date.
Apply at: http://www.5000award.com/?partner=i5k-ChiefExecutiveBoards
more....
2010 Spring Summit
Executive Briefings & Videos Now Posted
CEBI Members had great things to say about the
Spring Summit, particularly the Executive Briefings -- mini-seminars given by members on things that
have worked in their businesses. As you're aware, we've captured six years of those in the form of the presenters' PowerPoint
slides, and more recently video. As a
member you have the opportunity to use this material inside your own business,
if you see something you think might be helpful to your staff.
The presenters' PowerPoint slides have been up
since the Summit. We've just posted the videos of those presentations, in
case you couldn't attend or would like to see one of them again.
Complete Summit Presentation Library (member
login required): http://www.chiefexecutiveboards.com/membersonly/summitlibrary.asp
And, as always, we're
interested in your ideas for newsletter articles. Would you perhaps write
a guest Editorial? Please let us know if you have ideas or material you'd
be willing to share with others.
Thanks,
Terry Weaver
CEO
Chief Executive Boards International
TerryWeaver@ChiefExecutiveBoards.com
864 527-5917
www.chiefexecutiveboards.com
www.chiefexecutiveblog.com
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7 Ways Lousy
Financials Can Ruin Your Business
Are you a potential victim of lousy financials? I
watched 3 friends lose their businesses in 2009 due to mistaken and misleading
financial information. Have you assessed how
much not having a CFO is costing you? Here are some things to watch
out for:
7
Ways Lousy Financials Trip up Business Owners....
The
Mandate
from Hell
Unless repealed, a
1-paragraph provision in the thousands of pages of the
Patient Protection and Affordable Care Act (PPACA) will
inundate American business with paperwork it's never seen
before.
Can you imagine getting a 1099 from
every one of your customers, and sending one to every one of
your suppliers for annual transactions totaling over
$600?
Do You
Consider Yourself a Sales Professional?
At a recent seminar of
would-be and new business owners, the question was posed to
the audience, "How many of you consider yourselves
sales professionals?"
Surprisingly few hands went
up -- about 25%. Frightening, actually.
As one member of a panel of
business owners later in the day, I gave this advice:
"If you don't consider yourself a sales professional,
you may want to think twice about starting a business.
In the lion's share of cases, the owner is the company's
lead sales person. If you don't know how to sell or
don't like to sell, maybe you should consider finding a real
job."
Whether you would classify
yourself a sales professional or not, you'll want to have a
look at:
5
Prospecting and Networking Tips for Sales Pros....
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Chief Executive Boards International is an
exclusive group of business owners, presidents and CEOs whose members are
committed to helping each other achieve both their business goals and their
life goals. Members
meet regularly to help each other become
more focused, effective and strategic.
The result? More
fulfillment. More
free time. More
profit.
Are
you a CEO, President, Business Owner or GM of a profit center?
You may qualify as a CEBI member.
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