When embarking on an IT project we may find ourselves feeling like the explorer’s of old searching for the New World. We have a vision of paradise in our mind despite never having been there before. We load up our ship with people and supplies based on our own expectations of how long the journey should take. At last, we set sail with enthusiasm and excitement. Along the way we look over the horizon hoping to find land. Supplies begin to run short so we start to ration them. Enthusiasm begins to wane so we lower our expectations. Forget paradise; just give me a piece of dry land. Ultimately, we may find ourselves set afloat in empty blue waters unsure of the final outcome. So why do so many IT projects fail to live up to our expectations?

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By: Stephen R. Jester, Director of Technology Resources for CLIENT ADVOCATE NETWORK

At some point in our career, all of us have had that feeling. Waking up at 3 am in a cold sweat, wondering what to do, or what our next step should be.

Whether your business is large or small, three things must be in place to reach your goal(s). These are: a written Business Plan, a Process to execute that plan, and proper allocation of Capital, People, and Knowledge to achieve your success. These efforts will define your Business Model. Your Plan and Process must be in writing. If it is not in writing, then it has not been said.

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By: Gary Drake, Director of Consulting Resources for the CLIENT ADVOCATE NETWORK

When a small business launches, there’s little need for a full-scale human resources department. But as employees are added, the workload mounts for C-level officers. They find it hard to stay on top of orientation and training; keep track of hours worked, vacations and sick days; procure and manage health insurance programs and other benefits such as flexible spending and 401(k) programs; terminate employees; and keep up with general employment.

Additionally, government regulations begin to affect small business as they grow. Among the laws that may affect businesses are the Americans with Disabilities Act (which kicks in at 15 employees), Title VII (15 employees), Age Discrimination in Employment Act (20 employees), the Family Leave and Medical Leave Act (50 employees), and the Employee Retirement Income Securities Act.

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By: Peter Cappelli, George W. Taylor Professor of Management and the director of the Center for Human Resources at the University of Pennsylvania’s Wharton School in Philadelphia

When a small business launches, there’s little need for a full-scale human resources department. But as employees are added, the workload mounts for C-level officers. They find it hard to stay on top of orientation and training; keep track of hours worked, vacations and sick days; procure and manage health insurance programs and other benefits such as flexible spending and 401(k) programs; terminate employees; and keep up with general employment.

Additionally, government regulations begin to affect small business as they grow. Among the laws that may affect businesses are the Americans with Disabilities Act (which kicks in at 15 employees), Title VII (15 employees), Age Discrimination in Employment Act (20 employees), the Family Leave and Medical Leave Act (50 employees), and the Employee Retirement Income Securities Act.

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By: Layne Davlin, Vistage Member and the Founder & CEO of NetPEO

Whittier Hearing Center Inc. has endured hard times before.

Eight recessions have come and gone since the hearing care company opened its doors in 1955. Even though the economy is souring again, the company's owners expect that recent investments in staff education and equipment upgrades could mean higher sales this year.

"We've been through these recessionary periods many times," said Mary Ann Gilbert, director of audiology and co-owner of the business, which offers tests, hearing aids and ear protection gear. "We survive by being very value-focused for the patients. That helps us because the patients trust us and we get increased referrals from them and the medical doctors in our community."

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By: Cyndia Zwahlen, an L.A. Times Reporter

1. Building the niche

All buyers of companies look for the seller who has carved out a powerful niche in which to do business. The focused niche player has strong margins, is more profitable, and has greater barriers to competitive entry.

A+ companies have overall profitability in the range of 18 percent plus, as a percentage of sales, and sometimes go as high as 25-30 percent. They are often dominant players selling their products in their particular focused market - and they usually offer some products no one else does. They typically have a defined business category which they understand well - and this gives them the ability to be first with the changing technologies and trends deemed desirable in their business segment.

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By: Deborah Douglas, Vistage Speaker and President of Douglas Group, a private investment banking firm