Extraordinary Business

I recently read a Reuters article where Merrill Lynch's CEO John Thain asked the company's board of directors for a $10 million bonus. Argument: since he saved the company from impending doom, it seemed only right he should be rewarded. My question is with such "great" leadership how did it get there in the first place?

There are many business leaders that are disconnected with the rest of the world. For most people, if business is poor, we all take a stake in that performance. This could mean layoffs in a worst-case situation, or at least no raise or bonus.

Unfortunately we hear a lot of stories like this now. Many financial sector companies that have gone bankrupt or received billions in bailout money are still paying bonuses. This is not reward for a job well done and for the sake of the taxpayers should not be paid out.

Labels: "John Thain", "Merrill Lynch", bailout, banking, bonuses, CEO, Economy, Leadership, Money

There is a lot of talk about our economic situation in the media these days. What is your business doing to change its future? Many businesses use economy as an excuse for growth. The theory is in a poor economy you should hold back and wait for the environment to improve.

I would challenge this philosophy as there is more wealth created in a down economy than in a booming one. People and businesses who are ready to grow take advantage of the market when others are retreating. Now is no different. In any market, there are highly profitable businesses. The excuse you have to sit back and wait doesn't fly. To me, it also doesn't make any sense.

If you are running a race and you are in the lead, you do not stop to catch your breath when the run gets difficult. If you are in the middle of the pack, you would never think of stopping because the people behind you would pass you up. If you are in last place and stop, you will never even compete.

What can you do to take ownership of your business and grow now. Waiting could give someone else the advantage and leave you well behind the pack.

Labels: Business, Business Coaching, Dan Paulson, growth, InVision Business Development, Leadership, Money, Strategy