Archive for December, 2005
Monday, December 26th, 2005
The Rules of the Game
A recent search of the internet, by way of the Google search engine, for “looking for success†came up with 119,000,000 results, suggesting that this topic is a concern for many of us.
One of the links of that internet search provided Albert Einstein’s view on the subject of success in which he declared, “You have [...]
No Comments » - Posted in Principles of Good Business by Tom Fairbanks
Tuesday, December 20th, 2005
Wealth and the Small Stuff
A philosopher stood before a class of eager students. Arrayed before him on the table were an empty mayonnaise jar and three boxes. With his students curiously watching and without speaking, he picked up the large mayonnaise jar and proceeded to fill it to the top with two inch diameter rocks, from the first box.
Holding [...]
2 Comments » - Posted in Understanding Value by Tom Fairbanks
Wednesday, December 14th, 2005
Management By Walking Around
In a letter of advice to General David Hunter, President Abraham Lincoln expressed of Hunter’s predecessor, General John C. Fremont, “he is losing the confidence of men near him, whose support any man in his position must have to be successful, his cardinal mistake is that he isolates himself, and allows nobody to see himâ€. [...]
2 Comments » - Posted in Doing Good Business by Tom Fairbanks
Tuesday, December 6th, 2005
Value Roulette and the Appraisal Process
Beginning the loan application process without any idea of the actual value range of a property is something similar to launching a space exploration without knowing where you are going. Throughout the last twenty plus years, I have been asked continually to support the same kind of idiotic practice, by loan officers, mortgage brokers and [...]
4 Comments » - Posted in Understanding Value by Tom Fairbanks
Thursday, December 1st, 2005
Business - A Coordinated Series of Systems
Most business enterprises repeatedly perform the same work day after day, and whether they realize it or not, function in some type of systematization process with a hope that the business will produce reliable outcomes and profitability. The more reliable, documented, and measured those systems are - if they are understood by the staff of the business, the more predictably the business will have to create profits. And higher, predictable profits make for a more valuable business venture.
