The essence of investing is putting funds at risk with the hopes of receiving a greater amount in return. If this is accomplished, it can be said that one has created value.
As executives and managers, our ultimate goal is to create the most value possible given the resources available to us. This goal is often obscured by the various and sundry issues, projects, meetings, and crises that consume our daily schedule.
The single most important event in the life of a company is usually a sale transaction. Most business owners think of the sale of the company as their most likely exit strategy, and many expect a sale within a relatively short time period.
Until recently, the U.S. economy experienced one of the longest periods of economic expansion in its history. Traditionally, economic cycles have averaged about six years in length, but a combination of technological innovation, skillful monetary policy and global market competition and leadership has made possible a steady expansion lasting nearly a decade.
I believe that one of a company’s critical responsibilities is to involve its board of directors in the management decision-making process. The board is, of course, there for a reason. Look around the table at your next board meeting and consider the reasons each person is there.