Fraud Doesn’t Pay, But Consistent Results are Worth Billions
Bernie Madoff was arrested in 2008 for running what is believed to be the largest Ponzi scheme ever. Over a period of more than twenty years, Madoff had convinced wealthy, high profile private clients like Steven Spielberg and the Wilpon family (owners of the New York Mets) along with sophisticated commercial clients like MassMutual, Banco […]
Get More Bang for your Software Bucks
ServiceTrade sells software, so we spend a reasonable amount of time coming up with ideas and content (like this blog post) to help customers make better and faster decisions about buying software (preferably from ServiceTrade). We are particularly fond of catchy, summary phrases and slogans that are memorable for the same reason that consumer marketers […]
What’s Technology Worth? How to Value Your Technology Investments.
I hear customer prospects cry out for “the perfect application for my business that does everything” in nearly every sales call that I make. It does not exist. I have argued again, and again, and again that every business of any size will ultimately buy multiple applications to serve the diverse needs of their business functions. […]
How Valuable is Your Brand? Part 1
I am amazed at how often I see service contractors spending extraordinary effort to measure the gross margin of each service call, job, or project to two decimal places while simultaneously making zero effort whatsoever to measure and understand the value of their business in total. Service call gross margin is a very poor proxy […]
How Valuable is Your Brand? Part 2
As I indicated in my previous post, the basic finance formula for determining the value of an investment is to assess the amount and the risk of future income streams. Of course, predicting the future is tricky business, so it is best to rely on historical trends as a proxy for future performance, along with […]
How to Make Billions Selling Nothing – The Story of Red Hat
The following story is a preview from an upcoming book about how commercial service contractors can earn “money for nothing” by rethinking the way that they present and deliver the services that they provide their customers. I left IBM to join Red Hat in late November of 1998. Red Hat would record five million in […]
Smartglasses Face a Blurry Future
At the 2012 Google I/O conference, the big “reveal” was Google Glass. A team of Glass-wearing skydivers live streamed their descent toward the roof of the San Francisco Moscone center where the event was underway. It was an awe-inspiring stunt, but Google Glass flopped due to a buggy and ridiculous user experience, and the project […]
Snakes on the Roof!
Every popular book or movie generally hues to a typical formula. A hero faces a daunting challenge and makes a big effort to overcome trouble. The reason this formula works is because humans are captivated by trouble and drama. Jonathan Gottschall, the keynote speaker for the Digital Wrap Conference, documents in great detail the human […]
Keeping Score is Not the Same as Winning
Every major sports venue has a prominent scoreboard so that fans and participants alike can easily review the score with a glance to the outfield or upward at the jumbotron. Knowing the score is a critical element in decision-making. No point in running the ball up the gut in football when you are behind by […]
Get Busy Growing
“It comes down to a simple choice, really . . . Get busy living or get busy dying.” — Tim Robbins as Andy Dufresne in The Shawshank Redemption Growing your business is a simple choice. And if you are not growing, the business is in decline, whether you […]