Posts by bradp
Why Small Businesses Should Innovate
Small businesses should innovate to increase revenues and diversify revenue sources. Sometimes it is a matter of survival. Small business innovations may not have the world-wide impact of Amazon, Google, Boeing and the like, but the innovations can have a positive impact on the business and niche markets. Definition of Innovate Innovate simply means to…
Read MoreEvaluating Risk in the Decision-Making Process of a Business Leader
Considerations should be made in evaluating risk for the business and the business leader. Decision-making process guidelines for business leaders and owners arereadily available. Below is a summary process from Chron that is pretty typical. These are excellent guidelines, but I would like to dig deeper into evaluating risk. Perhaps your problem pertains to…
Read MoreCreativity and Innovation Workshop Set for August 28, 2019 in Tulsa, Oklahoma
Businesses and organizations need creativity and innovation to solve problems and develop ideas for new processes, methods, services and products. At this half-day workshop, we will look at business titans such as Apple, Pixar and others for creativity and innovation concepts that can be scaled and modified to fit any size and type of business…
Read MoreCreative Thinking: How to Catch an Armadillo?
Recently, I had to use some creative thinking in order to catch a few armadillos. In Oklahoma, these guys can wreak havoc on our yards and flower beds. Plus, there is nothing quite like twisting an ankle by stepping in one of the many holes dug by these armadillos. I approached the issue like I…
Read MoreSmall Business Innovation: Golf Portable Practice Hole from Pure Stroke Golf
We recently worked with the fine folks at Pure Stroke Golf in their innovation efforts. The company wanted to expand on their product line by developing another product to help golfers improve their game. Pure Stroke Golf is an Oklahoma-based small business with only a handful of employees, but they have a desire to grow…
Read MoreOklahoma Small Business Cash Flow: Effects of Payment Terms
Many Oklahoma small businesses operate in a B2B (Business to Business) environment. Often times the vendor or provider is a small business while the customer is a large business. These larger businesses may demand payment terms of 30, 60 or even 90 days. This means the small business will be paid up to 90 days…
Read MoreTakeaways from the “Blue Ocean Shift” Book
Blue Ocean Shift was written by W. Chan Kim and Renee Mauborgne. They also authored Blue Ocean Strategy. They encourage businesses and organizations to challenge the status quo and adopt a market-creating strategy. They define a red ocean as a market that has a lot of competition and pricing pressures. This type of market has…
Read MoreHow Increases in the Minimum Wage May Affect Your Business
Many states are taking actions to increase their state’s minimum wage above the federal minimum wage which is currently $7.25 per hour. We tend to think that industries that traditionally pay minimum wage are the only ones effected. Industries like restaurants, retail and hospitality. However, could there be a domino effect to other industries? Generally,…
Read MoreMerry Christmas 2018
As a small business consultant, I get the opportunity to learn and share with other small business owners that include my clients and those in my business network. We work together to improve our businesses, but we also help each other understand life in general. As I look at 2018, I am more thankful than…
Read MoreTakeaways from “The Innovation Blind Spot” Book
The Innovation Blind Spot was written by Ross Baird. Mr. Baird discusses the idea that most innovations and companies that are VC (Venture Capital) funded are in locales such as Silicon Valley and New York. “Blind spots” could be places in the middle of the USA; fly-over country. Places like Oklahoma. Another key issue discussed…
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