According to Exploding Topics (latest data in 2023), 90% of startups fail. Wait, let’s break it down. “Nine out of every ten startups crash and burn. But, hang on! Wasn't the dream to be the next, dare I say it, Elon Musk, or Jeff Bezos?” Surprised? But this is just the start of our harsh and enlightening ride. Think about it. You have your perfect product in mind, the dream team lined up, your business plan readied, investors ready to shower you with their money, and you even have the departmental desk color scheme sorted (we all know that's important). Yet despite all this, you are more likely to fail than to succeed – hard pill to swallow, right? Grit your…
Charlie Munger interviewed after the annual Berkshire Hathaway shareholders meeting in 2015. Image by Kent Sievers on Shutterstock. Charles Munger, who stood as a remarkable pillar in Berkshire Hathaway's development for nearly six decades alongside Warren Buffett, passed away at 99 on 28 November 2023. Munger was fundamental in the transformation of Berkshire Hathaway from a struggling textile production company into a global powerhouse. His passing occurred in a California hospital on Tuesday, as reported by the firm. Known for his long-standing residency in Los Angeles, Munger's vast contributions have not gone unnoticed. "Without Charlie's invaluable inspiration, wisdom, and involvement, Berkshire Hathaway wouldn't be where it is today," Buffett articulated in the statement. Born in Omaha, Nebraska in 1924, Munger was…
The Business Doctor Who Brings Companies Back to Life Walter Simson’s career didn’t begin with corporate rescues. He was once a banker at Chase Manhattan Bank, now part of JPMorgan Chase, with a clear trajectory in finance. But a family emergency shifted his course, a call from his father, who owned a commercial printing business in New York and was battling serious vision issues. Walter took a temporary leave to assist, expecting it to last three months. It stretched into three years and set him on a new, unplanned path. “You can't be a turnaround manager until you've done a turnaround,” Walter reflects. That first experience became his unexpected gateway into a career he has now pursued for over four…
Profits vs Public Health: Why Business Leaders Must Rethink Their Role in Society Most business leaders probably don’t lie awake worrying about public health. They are likely focused on profit margins, sustainable growth, market share, investor expectations, and keeping their team productive. Health, especially the health of people outside the company, can feel distant or like someone else’s job. It's easy to see why we might think public health isn't our problem. Individuals make their own choices. Governments are responsible for healthcare systems. Yet, every business influences public health, whether it intends to or not. The question is no longer whether businesses impact health, but whether they choose to understand that impact and shape it intentionally. Businesses play a powerful…
In today’s fast-paced business environment, organizations face numerous challenges, particularly when it comes to attracting and developing top sales talent. In this two-article series, we uncover overlooked strategies to boost sales performance, examining the impact of technology, strategy, leadership, performance management, and other critical factors that drive business success. In a recent interview, Professor Frank Cespedes shared his expert insights on effectively managing the sales function to enhance business outcomes. This interview is divided into two articles. This is Article 1, where we begin by exploring Strategic Approaches to Sales and Sales Talent. We’ll delve into foundational strategies and best practices for building a high-performing sales team. Article 2 will follow in two weeks, focusing on the Leadership Role in…
