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It’s part of the philosophy of open-book management; if you let your employees know traditionally sensitive information like profit levels, they’ll appreciate and return that trust.  What’s more, this helps them understand things that are important to the company beyond their immediate responsibilities, so that they can make better-informed decisions.

A book that teaches you how to get rich is flash. A book that teaches you the inner workings of the financial system is substance.
A handbag that has the logo of a company printed all over it is flash. A handbag that lasts for 20 years and remains aesthetically pleasing is substance.
A customer [...]

When a company makes artisan soaps and sells them individually, they have their 1st product.
When they cut the soap in half, repackage it, and call it a “Traveller’s Pack”, they have their 2nd product.
When they cut the soap into the shape of little animals and call it a “Kid’s Fun Size”, they have their 3rd [...]

Would-be entrepreneurs are often unsure whether they should talk about their business ideas.  On one hand, they’re rightfully concerned that word might spread to their competitors.  On the other hand, here are five reasons we think most entrepreneurs should share more with their family, friends, and advisors.
1.  It’s not the idea, it’s the execution.
Raw ideas [...]

People often ask me how the recession is affecting us.  In my most sagely voice, I respond, “I don’t know”.
We’re continually improving our product, our marketing, and the way we do business.  As a result, we’re continuing to do better, despite the trends in the overall economy.  We might come up with a new way [...]

If you had two choices:
1) Fix an employee’s weakness so that they become more well-rounded
Or
2) Focus on an employee’s strength so that they become more specialized

Which one would you choose?

The Gallup Organization interviewed over 80,000 managers in 2,500 business units and found that great managers who out-perform their peers chose the second answer.

The answer makes [...]

A trap many big companies fall into is losing touch with their customers.  Many executives never talk to customers directly, only learning through statistics and demographics.  As a result, they often make decisions to treat their customers like numbers, not human beings.  Customers dread calling into these sorts of companies, like AOL.
Small businesses have the [...]

When you’re making decisions on different marketing or advertising channels, a big question is how much can you afford to pay for each visitor or sales lead.  This can help you make informed and profitable decisions.  All it takes is gathering the right information and some simple math.
If you’re selling things online, you can use [...]