Index
A
accounts payable, 36
accounts receivable, 35
administration costs, 35
advisory boards, 77, 91, 92–97, 127, 141, 148–149, 166
Allen, Paul, 107
appearances, 157–159
appreciation, 91
arrogance, 130
asking for help, 101, 118–119, 141, 163
asking why not, 184–186
authentic self, 144–150, 159–161
B
balance (personal)
burnout, 161–164
finding, 63–64
of leadership role/life, 144–150
work/personal pride, 161
balance sheet basics, 35–36
barriers, 4
basket rule, 102
beep jobs, 47
authentic self, 159–161
dealing with trends, 120–121
moving forward, 169
president’s role, 143–144
selling your company, 176–184
big versus small companies, 103–107
Birkenstock Footprint Sandals, Inc., 78–79
Birkenstock USA, 11, 58–62, 78–82, 103–107, 116–119, 133–135, 173–176. See also Fraser, Margot
blame, 90
bottom lines
cash, 23
keeping track of, 19
values, 68–69
brand creation, 77
burnout, 161–164
business models
flawed, 138–141
successful, 68
C
Cash Is King concept, 18–19
cash management
balancing inventory and
bottom lines, 23
cash flow, 101
cash reserves, 26
creative, 17
currency values, 116–117
finding investors, 22–23
forecasting cash flow, 20–22
growth and, 56–57
having a steady
moneymaker, 139
honesty about, 28
language of, 34
owning your numbers, 33–37
stress of, 17
tips for, 30–32
CEOs. See president’s role
challenges, 84–85
change
approaches to making, 42
growth and, 120–121
managing, 130–133
for sustainability, 73–74
chaos, embracing, 66
chargebacks, 35
charity work, 85–86
communication
importance of, 48–49
for stress management, 44–46
as value, 102
community service, 68–69
competition, 114–115
compromises, 90
confessing to a peer, 91
contracts, 107–110
control, having/not having
Birkenstock USA, 116–119
Creative Machines, 121–123
ideas for facing challenges, 126–128
Putney Pasta, 120–121
Vermont Bread Company, 114–116
core values. See values
creative jobs, 47
Creative Machines, xiii, 17, 46–50, 82–86, 107–110, 138–141. See also O’Connell, Joe
creative thinking, 46
credit, obtaining, 20
crisis management. See also
stress management
approaches to, 109
asking for help, 111
communication for, 44–45
distributor problems, 100–103
doing something silly, 111
facing the challenge, 126
focusing on immediate
Goliath metaphor, 99
handling adversity, 123–124
loss of sales, 103–107
seeing the big picture, 110
self-care during, 124–125
sharing the problem, 118–119
transparency for, 152
using contracts, 107–110
walking away, 125
customers, losing, 115–116, 120–121
D
debt, 36
decision making
local, 68
mistakes in, 135–138
seeing choices, 182
selling your company, 184–185
staying out of the middle, 154–156
design patents, 105
direct public offerings (DPOs), 184
discounts, 21
dispute management, 134–135
donors, asking for money from, 28. See also investors/shareholders
DPOs (direct public offerings), 184
E
EBITDA, 35
emotional issues, 109, 130–133
employees. See also advisory
boards; workplace
consulting with, 78
getting/keeping good, 46–50
hiring knowledgeable, 71, 74–77, 79–80
HR decision making, 154–155
laying off, 117–118
leader’s role to, 144–145
losing, 138–141
offering appreciation, 91
problems among, 130–133
relationships with president, 150–151
selling your company to, 173–176
strategic hires, 57–58
treatment of, 81–82
equity, 36
ESOP (employee stock ownership plan), 173, 175–176
everyday stressors, 46
excitement, keeping your, 70
executive education programs, 165
exiting your company. See selling your company
exits for shareholders, 23–24, 184–186
Experience Music Project, 107
F
facades of leadership role, 144–150
failing/failed businesses, 24, 161
failure, recognizing, 75–76
fantasy versus reality, 4–5
fear
of asking questions, 93
dealing with employees’, 132
self-confidence with, 33
versus values, 27–29
working through, 111
Fraser, Margot, 189
background of, 9–15
cash management, 20–22
dealing with trends, 113, 116–119
frugality, 31
growth/size of company, 103–107
holding onto your mission, 78–82
losing customers, 99
mistake management, 133–135
president’s role, 143, 150–154
selling the company to employees, 173–176
stress management, 44–46
supplier relationships, 31
frugality, 31
G
geographic location, 120–121
giving yourself away, 80, 82–86
Goliath metaphor, 99, 189. See also crisis management
gross margin, 34
growth
cash flow and, 56–57
challenges of, 137–138
change and, 120–121
controlling, 114–116
doing it “right,” 62
holding onto your mission during, 78–82
instilling values for, 67
problems with fast, 107–108
self-doubt with, 79–80
H
Harvard Business School, 146–147
health issues, 66
help, asking for, 101
hiring employees. See employees
Hirschberg, Gary, xiii
asking better questions, 169
cash management, 22–24
crisis management, 124–125
finding solutions, 184–186
taking responsibility, 135–138
trusting yourself, 55–56, 62–64
holding on, 61
honesty, 28, 29, 86–87, 94, 102, 135, 160–161
I
income statements, basics of, 34–35
interdependence, 45
inventory management, 21–22, 36
investors/shareholders. See
also donors
asking for money, 28
finding, 22–23
keeping control with, 23–24
J
Jenkins, Harvey, 158
joint ventures, 184–185
Jones, Mary, 118
K
Knotty Boy Dread Stuff, 189
knowledge, giving away your, 74–77
L
labor, cost totals, 35
language of cash management, 34
lawsuits, 134–135
leadership. See president’s role
Leehman, John, 170
letting go/holding on, 61
liabilities, 36
lifestyle of business owners, 1–3
L.L.Bean, 104–105
long-term stressors, 45–46
Lorimer, Lisa, 51, 111, 120, 177, 180–181, 189
asking for help, problems of, 74–77
background of, 3–9
cash management, 18–19
change management, 130–133
crisis management, 100–103
dealing with trends, 113, 114–116
frugality, 31
moving forward, 169
president’s role, 143, 144–150
risk management, 99
selling your company, 170–172
strategic hiring, 71
stress management, 40–44
vendor relationships, 30–31
M
master/servant roles, 150–154
mediation, 134–135
Mintz, Steve, 170–172, 177, 180–181
mission
commitment to, 87–89
finding reminders of your, 52, 70
holding onto your, 78–82
president’s role and, 156–159
societal pressures on, 87–90
mistakes
acknowledging/admitting, 101
change management, 130–133
flawed business models, 138–141
fortunate, 21
inconsistent product lines, 8
learning from, 132–133, 139–140
managing, 129
settling out of court, 133–135
taking responsibility for, 135–138, 141
what to do after, 141
Ms. Foundation for Women, xiii–xiv, 17, 87–90. See also Wilson, Marie
multilegged stool rule, 101–102, 114, 115, 121
N
naming a company, 8
net income, 35
Nordstrom, 103–104
Northeast Delta Dental, xiv, 66–69, 86–87. See also Raffio, Tom
O
O’Connell, Joe, xiii
cash management, 24–27
crisis management, 99
disaster management, 113
flawed business models, 138–141
handling adversity, 121–123
moneymakers, 17
president’s role, 143
staying out of the middle, 154–156
stress management, 46–50
trusting yourself/values, 82–86
use of contracts, 107–110
Owner/President Management Program, 146–147
owning your numbers, 32, 33–37
P
paperwork management, 25
patents, 105
payment terms, negotiating, 30–31
performance measures, basic, 36–37
personal life, 144–150
positioning for sale of company, 170–172, 187
pragmatism, 126–127
president’s role
authentic self, 144–150, 159–161
burnout, 161–164
evaluating your, 164–165
integration of life with, 143
mission and, 156–159
servant/master analogy, 150–154
staying out of the middle, 154–156
principles, violating your, 85–86
problem solving, 49–50, 53, 101, 115, 127, 166–167
product diversification, 26–27, 105–106
product standardization, 31–32
profitability, 31–32
public art project, 83–86
pulse points, 33
Putney Pasta, xiii, 50–51, 64–66, 120–121, 176–184. See also Berry, Carol
R
cost over values, 70
happiness/trusting yourself, 66–69
reality versus fantasy, 4–5
Recognition Circle, 91
relationships
importance of, 80
president/employee, 144–145, 150–151
with suppliers, 31
vendor, 30–31
with vendors/suppliers, 32
reserve funds, 28
resiliency, 15
returns, 35
risks
trusting your instinct for, 61
Rock Stream Studios, 139–140
Rudi’s Organic Bakery, 8. See also Vermont Bread Company
S
safety management, 42–43, 50–51
sales
approaches to selling, 80
choosing distributors, 103–104
forecasting, 20–22
loss of, 105
totals, 34
self, sense of, 156
self-care, 124–125, 128, 142, 161–164, 165, 180–181, 187
self-presentation, 157–159
self-reflection, 91
selling your company
choices for, 184–186
to employees, 173–176
exit strategies/positioning, 186–187
identifying the right buyer, 187
identifying values for, 170–172
stresses of, 176–184
sense of self, 156
servant/master roles, 150–154
shareholders. See investors/shareholders
“silo thinking,” 45
small versus big companies, 103–107
Social Venture Institutes, 145, 189
Social Venture Network (SVN), 63
societal pressures, 87–90
stakeholders, sustaining all, 73
standardization of products, 31–32
Stanford University, 151
starting up a business, 62–64
Stonyfield Farm, 17, 22–24, 62–64, 124–125, 135–138, 184–186. See also Hirshberg, Gary
Stonyfield Farm Entrepreneurs
Institute (SFEI), 23
stress management. See also
crisis management
burnout, 161–164
communication for, 44–46
company tragedies, 50–51
coping strategies, 52–53
getting/keeping good employees, 46–50
managing fear/anxiety, 27–29
stressors
cash, 17
decision making, 154
of a failing company, 176–179
of leadership role, 147–148
suppliers/vendors, negotiating with, 30–31
support
from advisory boards, 148–149
from within the company, 151
from customers, 56–58
family/friends, 63–64, 178–179
peer, 51, 151–152, 163, 165, 180
when selling your company, 187
T
Take Our Daughters to Work program, 29, 87–89
telling the truth, 28, 29, 86–87, 94, 102, 135, 160–161
telling your story, 189–191
three Ps (people, planet, and profit), xv
360 review process, 86–87
time management
conscious relaxation, 128
looking at the numbers, 34
setting time limits, 90
time costs, 26
tragedies, 50–51
transparency, 86, 102, 107, 152, 160
trends
Birkenstock USA, 116–119
Creative Machines, 121–123
doing the research, 127
Putney Pasta, 120–121
shifting, 126
Vermont Bread Company, 114–116
others’ in you, 101
in your product, 61, 63–64, 70, 110
trusting yourself
following your instincts, 58–62
intuition, 55
intuition and, 56–58
knowing your values for, 66–69
for starting a business, 62–64
V
values
articulating your, 69
bottom line and, 68–69
communication as, 102
cost savings over, 70
fear versus, 27–29
following your, 86
hiring people with your, 81
identifying, when selling
instilling, for growth, 67
when selling your company, 170–172
workplace, 41–42
vendors. See suppliers/vendors
Vermont Bread Company, 7–8, 40–41, 74–77, 100–103, 114–116, 130–133, 170–172. See also Lorimer, Lisa
vision
giving away your, 80
product/organization as, 159
volunteer work, 167
W
White House Project, 17, 87–90. See also Wilson, Marie
Wilson, Marie, xiii–xiv
cash management, 27–29
looking to the vision, 17
president’s role, 143
president’s role and mission, 156–159
societal pressures, 87–90
workplace. See also employees
accidents, 50–51
environment, 47
values, 41–42
Y
Yogurt Works, 125