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Misapplication of Economic Value Added Concept
Many companies have embraced the notion that the economic-value-added concept is superior to the traditional performance assessment measures based on traditional accounting.

Economic value added, known by the acronym EVA, is a financial measurement metric that considers the relationship between the enterprise’s profitability and the cost of the capital employed to achieve that profitability. The idea behind EVA is that managers should be evaluated in terms of how effectively, productively and profitably they employ capital in the business. To evaluate profit alone without considering the cost of the capital employed to achieve that profit can be very misleading. But if the relevant content and timing factors are not appropriately considered, EVA calculations can be as distorting and misleading as traditional profitability measures.

Ignoring the Stock Price
Companies that ignore their stock price do so at their peril.

While it is crucially important to concentrate on the basic business of the company, if a company is not mindful of what happens to its stock price, it may find it is in for a rude shock. If the stock price falls too low, investors may lose confidence in management, and critical investors may sell out. If the stock price falls too low, a takeover may happen. A company needs to pay attention both to its basic business and it its stock price.

Ignoring the company’s stock price is a mistake.

Success Needs Sufficient Capital Resources
To succeed in business, you need sufficient capital resources. In fact, it is said that the number one source of failure for small business is running out of money.

If you do not have a realistic assessment of the money that is needed to implement your business plan, you run the risk of running out of money. If you run out of money, your business may likely fail. Failure to have a realistic understanding of the amount of money that is required for the business overall and to implement certain new ventures, particularly, can lead to ruin.

Failing to have adequate money for the business can be a mistake.

30 Retaining the Wrong Professional Advisor

From time to time companies and senior executives inevitably are involved in circumstances that are not familiar to them. In those circumstances, it is a good idea to retain a professional advisor. But it can be disastrous if the wrong advisor is retained.

Often the decision about the advisor who is retained is much more controlling in determining the outcome that is achieved than are the merits of the strategy pursued, the potential of the new business opportunity, what diligence is employed, or how much resources are expended. If you retain the wrong advisor, you may end up with an unfortunate outcome.

Retaining the wrong advisor is a mistake.

1 Strategic Incongruency

Strategy, to be effective, must be congruent.

If balance and consistency between different parts of the business strategy are lacking, the resulting incongruence compromises the prospects of business success. Strategy congruency means that there is a reasonable connection between one part of a strategy and another part of a strategy. The purposes of one part of the enterprise are complementary to those of another part of the enterprise. The goals of one division are supportive of, and in parallel with, the goals of another division. 

Most people don't like Mondays. This past Monday I can say I absolutely loved. 

Do you know the legend Dan Kennedy? He was my mentor, my coach, my friend. Unfortunately he became very ill and was in hospice. There was an outpouring of love and prayers and I truly believe that has true healing powers.

My mentor, Dan Kennedy, taught me to "go deep". While most people forget what they learned yesterday, I "go deep" when Dan Kennedy is speaking. There's a quote he says that I love, he says “I know the mind, like the parachute, is most valuable open." I agree with these words a 100%. You'll always find me in the front row, taking feverish notes, mindmapping what I've learned, and putting it all into action.

Dan talks a lot about super-achievers and what makes them different. They are not distracted; rather, they remain focused on taking the tiny steps and maintaining an accurate routine to achieve their goals.

Today I wanted to share with you something I pulled out of my Dan Kennedy NoBS Inner Circle archive. Would love to know your thoughts on it. Leave me a comment below.

Nowadays, a degree isn’t a guarantee to success. The job market is a battlefield and diplomas are not the only things that matter.

In fact, HuffPost claims that for the first time college graduates are more likely to be unemployed than an average US citizen. Employers are now looking for skills beyond what a college degree can provide.

So, if you want that dream job, you’ll definitely need to add some extra skills to your resume.

One of the best ways you can get ahead of the curve is by finding a mentor. Mentors can help you make sound career decisions and guide you to overcome hurdles on your way to success. And here’s how: