For Subscribers

Take Your Perch

Get the bird's-eye view that can help alert you to potential problems.

By Mark Henricks

Opinions expressed by Entrepreneur contributors are their own.

Working deep underground, with limited oxygen and a long way togo for more, old-time miners took canaries down with them to serveas early indicators of trouble with the air supply. In themetaphorically titled Corporate Canaries: Avoid Business DisastersWith a Coal Miner's Secrets (Nelson Business, $19.99),turnaround expert Gary Sutton delivers a collection of simple andpractical tales that serve as entrepreneurial substitutes forfainting songbirds.

The indicators are clear, and the prescriptions are emphatic. Ifyour company's sales are growing while profits are falling, forinstance, Sutton gives you 180 days to fix it or fail. What to lookat first in that situation? If your salespeople get commissions onrevenue, he suggests switching them to a compensation scheme basedon profits per sale. Brief and conversational, and loaded withhomey tales of the author's coal-miner grandfather, this may beexactly the quick read a business owner needs when disasterlooms.

Continue reading this article — and all of our other premium content with Entrepreneur+

For just $5, you can get unlimited access to all Entrepreneur’s premium content. You’ll find:

  • Digestible insight on how to be a better entrepreneur and leader
  • Lessons for starting and growing a business from our expert network of CEOs and founders
  • Meaningful content to help you make sharper decisions
  • Business and life hacks to help you stay ahead of the curve

Related Topics

Editor's Pick

The Dark Side of Pay Transparency — And What to Do If You Find Out You're Being Underpaid
Thinking of a Career Change? Here Are 4 Steps You Can Take to Get There.
A Founder Who Bootstrapped Her Jewelry Business With Just $1,000 Now Sees 7-Figure Revenue Because She Knew Something About Her Customers Nobody Else Did
Everything You Need to Know About Franchise Law
Business News

Amazon Is Starting to Let Customers Know What Products Are Returned Often

The e-commerce giant has begun flagging certain items that were frequently sent back.

Business News

'Crying Northwestern Kid' Turned His Viral Fan Moment Into a Successful Harvard Admissions Essay. He Says the Experience Taught Him About Empathy.

Six years ago, Phillips was watching No. 8 Northwestern take on No. 1 Gonzaga during March Madness when he became a meme.


5 Challenges Leaders Are Facing Right Now (and How to Overcome Them)

Leaders who can find solutions to post-pandemic challenges are poised to thrive.

Starting a Business

Choosing A Bank For Your Startup: Here's Some Things To Consider

Although the fall of SVB has sent shockwaves across the economy and banking sector, for many small startups it's crucial to find the right bank that offers them a range of tailor-made products and services.