Simple steps to successful presentations

By Shannon Atler

Picture this: You’re at a conference, waiting to hear a speaker whose talk you’ve been looking forward to for months. As you sit down, you realize that he appears rattled and is gripping onto the lectern for dear life. He begins to talk, ever so slowly.

You wait a while to see if his talk improves but it becomes decidedly boring. Now you’re dreaming of a coffee break. If this sounds familiar (or if you’ve been in that position), there’s hope. No matter whether you’re presenting to an audience of one or to a crowd of 100, these tried-and-true tips will ensure you’re ready to roll the next time you present.

1.Start with a bang. During last year’s Tropical Storm Isaac, I was rerouted on my less-than-favorite airline. All went smoothly, at least until I emerged from the plane, uh, bitten. I was a little panicked upon discovering that a few sneaky little critters had apparently been my seatmates, and airline personnel were, well, unconcerned. What did this get me? A great opener for future talks on customer service, to be sure. Get started by thinking about the everyday things you do. Grab your audience’s interest with a story, quote or an interesting bit of information at the start and they’ll stay with you for the long run. It works every time.

2.Get focused. You’ve gotta start somewhere, and every plan needs a roadmap. To stay on track, outline, outline, outline. Decide first what your message is, why your audience wants to hear it, and how you will reinforce it. Then determine how you’ll sequence your thoughts: for a 30-minute talk, having four or five main points is ideal. Consider using an outline composed of talking points; jot down keywords as reminders of what you want to discuss. I like to use a whiteboard; it allows me to see all of my ideas at once, giving me a better picture of my story. You can use paper, index cards or your smartphone, but do it.

3.Know your audience. Who are you there to talk to? Whether you’re talking to a potential client, a team of employees or a huge group, knowing what your audience is looking for can make a world of difference.

4.Know your stuff. Unless you’re an expert at improvisation (or your name is Jerry Seinfeld), don’t depend on winging it. Your ship will sink faster than the Titanic if you don’t know your material backwards and forwards. Do your homework and make sure your material is solid before you get in front of the crowd.

5.Weave in examples. Think of examples as the golden thread that will tie your presentation together. People want to learn from your experiences. It’s much more valuable if you can use stories or examples to illustrate and support your points. They want to hear about what has worked and what hasn’t worked. Try it, and see how your topic comes to life!

6.Don’t read. Have you ever seen a presenter read every slide? Nothing can kill a speech or meeting faster than if you read your material. People can do that for themselves. It’s your job to fill in what’s between the lines and tell them the real story.

7.Have a Plan B. When I first spoke overseas, I was at the mercy of my host. He alone had my presentation slides on a CD and he alone was late. He finally arrived and I gleefully popped the CD into my laptop, anticipating my first slide on management. Instead, out came Russian folk music. It’s true; you just can’t make this stuff up. What were my lessons learned? Always carry a duplicate of your presentation. Things can, and do, go sideways at the most inopportune times — a delayed client, a missing audio visual guy, even a power outage. Decide in advance what you’ll do if something does go amiss. No matter whether you’re presenting a proposal for new business or preparing for a panel, having a backup plan pays off.

Shannon Alter is president of Alter Consulting Group where she helps managers and companies succeed by developing the skills they need to provide client solutions. Be sure to join the discussion on Alter’s blog at AlterConsultingGroup.com.

In the News

3 bills Florida HOAs should know aboutThree new bills were presented to the Florida Legislature that, if passed, will affect the state’s many condo and homeowners associations. Some of the changes up for vote including limiting the term length of association directors and forbidding members delinquent in payments from running for the Board of Directors. Florida: Lexology.com (free registration)

Texas legislature and HOAs: Conflicts and interests -  One man’s HOA experience in Pflugerville, Texas highlights how associations, ostensibly created by and for the people in a neighborhood, usually operate more like mini-government agencies. Nowadays, cities and counties often require new developments to create property owners’ associations. In a booming state like Texas outsourcing these services to an HOA management company may be the only option for a cash-strapped municipality.  Texas’ a long and colorful history of lopsided special-interest influence has complicated the HOA management industry. Texas: The Texas Tribune

Judge rejects condo’s demand for HOA receivership – Tensions between disgruntled Arizona condo owners and their homeowners association board came to a head Monday in a six-hour hearing to decide whether residents’ allegations of financial misconduct justified placing the HOA into receivership. After the attorneys for several hours questioned and cross-examined experts, board members and residents, Maricopa County Superior Court Judge Michael Gordon ruled there was insufficient evidence to warrant putting the association into receivership. Arizona: AZcentral

Colorado HOA-related legislation  - Read about the CAI sponsored legislation that is working its way through the Colorado Legislature.  SB126 requires HOAs to accommodate owners who want to install electric car-charging stations in a complex parking lot. It has been signed into law.  Lawmakers passed HB1276 to revise the way HOAs collect delinquent dues and fines, and setting specific rules for pursuing foreclosure actions against homeowners passed and awaits consideration by the governor.  Headed to the governor, HB1134, would require all HOAs, no matter how large or when they were created, to register with the HOA Information Office and Resource Center. Lawmakers also sent Hickenlooper House Bill 1277 which would require community association managers, management company executives and those who directly supervise managers to be licensed in Colorado. Colorado: The Gazette

3 Steps to Becoming a Master Learner

By Erika Andersen

You can’t lead if you can’t learn. And not all adults learn that well. How to change that
Here’s a puzzle: Even though people talk about leadership all the time, and roughly eight kajillion leadership books have been published, we’re still plagued with fair to poor leaders in many, perhaps most, organizations.

Why is this? Part of the problem is that most of us, deep down, don’t really think it’s possible for an okay leader to become a great leader. We believe leadership ability is inborn. Either you have it or you don’t. Unfortunately, thinking something is impossible makes it very difficult to accomplish.

The other difficulty is that most adults aren’t very good learners. In order to become the best leader (or, actually, the best anything) you’re capable of being, you have to become a great learner. Here are the three things most required to be that kind of powerful learner:

Accurate self-awareness
To get better at something, you have to be clear about your current knowledge or capability. For example, I met someone a few months ago who thinks he’s a truly great leader, while nearly everyone around him sees him as a poor leader.

I call this kind of deeply inaccurate self-assessment The American Idol Syndrome, in honor of all those contestants who are convinced they’re going to be the next pop sensation but who can’t actually sing. Their lack of accurate self-awareness makes it nearly impossible for them to be open to feedback or learning.

In order to master anything, you have to start by being able to objectively assess your own current capability.

Curiosity
True curiosity is a very powerful thing, and it’s built into all of us. Anyone who’s ever been around a little kid can attest to that. Their endless asking of “why?” and “how come?” and “what’s that?” all arise from that impulse to investigate: curiosity. For children, curiosity is a powerful, instinctive survival mechanism. The more they understand about their environment, and the more quickly they understand it, the more likely they are to succeed as human beings. Kids’ insatiable curiosity drives them to learn to speak, eat, walk, and interact with other people remarkably quickly. It leads them to know what is dangerous and what is safe, what is delicious and what is disgusting, what is useful and what is pointless.

Unfortunately, many of us lose touch with that inborn curiosity as we become adults. We assume we understand things well enough, thank you very much. Also, our curiosity is often stifled by others. We’re taught, “mind your own business,” “don’t read ahead,” and “do what you’re told.” These are all clear societal messages to stop investigating the environment.

In order to learn to be a great leader, you have to re-connect with your innate curiosity. The best learners and the most successful leaders are continually asking curiosity-based questions such as, “How does that work?” and “Why is that happening?” and “How can I….?” and “What if…?”

Be willing to be not-good
This may be the toughest aspect of true learning. The path to being great at anything includes many, many points of being not great. Or even not good. That’s frustrating and embarrassing.

This is especially difficult for people who are smart and quick learners in general. The first time they run into something that requires real time and effort to master, where their initial efforts are clunky or incorrect, their impulse is to give up and go back to stuff they’re already good at.

Being able to keep going, and to work through incompetence, is essential to real learning of any kind. Real learning requires both being OK with our own initial ineptness and faith in our ability to get through it.

So if you want to get good at anything, you need to be realistic about where you’re starting from; unleash your innate curiosity; and be willing to be not-great before you get great. And the results are powerful: as a master learner, you have the key to becoming the best leader–or anything else–you can be.

Erika Andersen is the founding partner of Proteus, a consulting and training firm that focuses on leader readiness. She serves as coach and advisor to the senior executives of such companies as GE, Time Warner Cable, TJX, NBCUniversal and Union Square Hospitality Group

Building Relationships with Youthful Colleagues

Even if you’re the kind of savvy networker who makes a habit of lunching with well-placed colleagues, you may be overlooking some key players at the office: your younger co-workers.

Many midlife professionals make the mistake of gravitating to office friends in their same age group and level of seniority, says Jaime Klein, founder of Inspire Human Resources in New York City. As the folks in your circle retire or move on, however, this can leave you without anyone in a position to help you.

Besides, as Klein notes, “the millennials will be the people we will all be reporting to in the next 20 years.” In other words, those up-and-comers are worth getting to know.

Catch the rising stars

While it’s usually obvious which high-level individuals can help you, you may need to do some detective work to spot tenderfoots with the potential to climb.

Pay attention to the ideas they suggest at meetings to see who’s the most innovative and gaining the most traction. Look for those who might benefit from your guidance but who can also teach you something, whether because they are Pinterest whizzes or have worked overseas.

The ideal relationship “should be an exchange of knowledge and perspective,” says New York career coach Stefanie Smith.

Be cool, but not too cool

If you’re higher up in the food chain, younger co-workers may see you as inaccessible. To make real connections, you’ll want to show you’re approachable. “Lose your ego,” advises Tom Gimbel, CEO of LaSalle Network, a staffing firm in Chicago.

Simply making the effort to chat about last night’s ball game — or learning how to talk with them on IM, if that’s what they use — can go a long way. Don’t go overboard by sending links to memes or trying to use “yolo” in a sentence. You’ll just look silly.

Polish your pickup lines

While getting together outside the office can help build a better relationship, you have to be strategic in how you go about it.

A 55-year-old asking a 28-year-old of the opposite sex for after-work drinks sends the wrong message. Inviting your younger co-worker for coffee or lunch is usually a safer bet. Say something like, “I understand you do digital strategy. I’d like to learn more about what you do day to day.”

If the person seems slow to find the time, don’t persist. “Offer the opportunity — then see who recognizes the value and follows up,” Smith says.

Another option is to ask your new pal to an event where you can both learn, like a lunchtime talk on a career-related topic at your university club. Or organize departmental drinks at a bar, and concentrate on chatting with the brightest young things. Just don’t let your guard down too much. You could be sharing brewskis with your next boss.

4 Reasons to be a Mentor

By Peter Cohan

Mike Bergelson, CEO of Everwise, a service that connects mentors and protégées, believes mentoring is a great way for big companies like his former employer to develop talent. A study by a former Sun Microsystems executive found that employees who received mentoring were five times more likely to be promoted. And a study of successful people like Warren Buffett found that the second most important reason they believe they’ve been successful is great mentors (Buffett’s was Benjamin Graham).

Everwise has developed an algorithm that has contributed to a “96 percent match satisfaction rate.” Assuming that’s true, Bergelson should be an authority on why people agree to serve as mentors. Here are his four top reasons.

1. Give Back

Successful people I have interviewed often say that they were helped early in their career by someone who had achieved greatness. Now they believe that they should “pay it forward.”

But why do they feel that way? Some feel that they are repaying a debt to future generations; others believe that if their advice helps a younger person, it will make a little piece of them immortal; still others see mentoring as going back in a time machine and giving a younger version of themselves the advice that they wish they had received.

This last reason highlights the importance of matching the right mentor and protégé. After all, if a mentor finds a young person with similar life experiences–such as emigrating from Chile or competing in triathlons–it will strengthen the feeling of giving back to a younger version of herself.

2. Learn From Process

Many mentors claim that they learn by teaching. This observation brings to mind the Seinfeld episode about mentoring. In case you missed it, George Costanza needs to learn about risk management so he asks his protégé to record herself reading the book to him. (Naturally, Costanza took the idea of learning from mentoring and turning it on its head.)

Bergelson said that many mentors learn through the process of teaching others and they find that mentoring makes them better leaders. He said that 94 percent of mentors agree to repeat their experience because they “take away a lot from the process.”

3. Meet New People

Mentors also like the idea of meeting new people whom they can add to their “I kmentorPuzzleSMnew when” list. After all, who doesn’t like the idea of bragging to associates that they knew [currently famous person X] before they became successful?

For mentors with this motive, there is also a potential financial benefit. The protégé might offer the mentor an opportunity to invest in an early-stage venture. And if that happens, the mentor may not only get bragging rights but a big slug of cash when he sells stock in the now successful venture.

 4. Get Exposed to New Ideas

Protégés also expose mentors to new ideas. For example, the protégé might discuss how her company is using a new approach to innovation, pricing, or customer service. Mentors may be able to apply some of these best practices to their own activities.

People are willing to mentor for free because they already have–in the context of Maslow’s Hierarchy of Needs–met their physiological and safety needs and now seek esteem and self-actualization. Mentoring is a way to get there.

Peter Cohan is a strategy consultant, start-up investor, teacher, corporate speaker, pundit, and author.

Act Like a Leader Before You Are One

by Amy Gallo

If you want to become a leader, don’t wait for the fancy title or the corner office. You can begin to act, think, and communicate like a leader long before that promotion. Even if you’re still several levels down and someone else is calling all the shots, there are numerous ways to demonstrate your potential and carve your path to the role you want.

What the Experts Say
“It’s never foolish to begin preparing for a transition no matter how many years away it is or where you are in your career,” says Muriel Maignan Wilkins, coauthor of Own the Room: Discover Your Signature Voice to Master Your Leadership Presence. Michael Watkins, the chairman of Genesis Advisers and author of The First 90 Days and Your Next Move, agrees. Not only does the planning help you develop the necessary skills and leadership presence, it also increases your chances of getting the promotion because people will already recognize you as a leader. The key is to take on opportunities now, regardless of your tenure or role. “You can demonstrate leadership at any time no matter what your title is,” says Amy Jen Su, coauthor of Own the Room. Here are several ways to start laying the groundwork.

Knock your responsibilities out of the park
No matter how big your ambitions, don’t let them distract you from excelling in your current role. Focus on the present as much as — or more than — the future. “You still have to deliver results in your day job,” says Jen Su. Adds Maignan Wilkins: “You always need to take care of today’s business so that nobody — peers, direct reports, or those above you — questions your performance.” That’s the first step to getting ahead.

Help your boss succeed
“You have to execute on your boss’s priorities too,” says Watkins. “Show her that you’re willing to pick up the baton on important projects.” Maignan Wilkins also suggests you “lean more towards yes than no” whenever your boss asks you to help with something new. Find out what keeps your manager up at night and propose solutions to those problems.

Seize leadership opportunities, no matter how small
Make sure your “let me take that on” attitude extends beyond your relationship with your boss. Raise your hand for new initiatives, especially ones that might be visible to those outside your unit. “This will give others a taste of what you’ll be like in a more senior role,” says Maignan Wilkins. It doesn’t have to be an intense, months-long project. It might be something as simple as facilitating a meeting, offering to help with recruiting events, or stepping in to negotiate a conflict between peers. You might find opportunities outside of work, too. You can sit on the board of a local nonprofit or organize your community’s volunteer day. “These activities send the signal that you aspire to leadership potential,” Watkins says.

Look for the white space
Another way to prove your potential is to take on projects in the “white space.” These are problems that others aren’t willing to tackle or don’t even know exist. “Every organization has needs that nobody is paying attention to, or people are actively ignoring,” Maignan Wilkins says. For example, you might be able to identify a customer need that isn’t being met by your company’s current product line, and propose a new one. Or you could do a quick analysis of how much a specific change would save the company. When you take on a task that no one else is willing to do, you make yourself stand out.

Don’t be a jerk
There’s a fine line between being ambitious and acting like you’re too big for your britches. “Don’t try to exert authority when you don’t have it,” says Watkins. Practice what he calls “steward leadership”: focus on what your team wants to accomplish instead of putting yourself first. Jen Su recommends “humble confidence,” showing appropriate modesty in your
role, while having the self-assurance to know that you will rise to the next level.

Be cautious when sharing your ambitions
It’s appropriate to raise your ambitions with your manager if you have a trusting, solid relationship, but frame them in a way that focuses on what’s best for the company. Jen Su suggests you lay out your accomplishments for the past year and then ask something like, “As we look further out, where do you see me continuing to make a contribution?” Watkins warns that these conversations shouldn’t come off as being all about you. Instead, engage in a two-way conversation with your boss. If you have the kind of boss who may feel threatened by your aspirations, it’s better to keep your ambitions quiet and prove your potential.

Find role models
Look for people who have the roles you want and study what they do — how they act, communicate, and dress. “Pick someone at the next level, someone similar to you, and find a way to work with them,” says Watkins. Volunteer for a committee they’re spearheading or offer to help with one of their pet projects. Identify behaviors that you can emulate while being true to yourself. “You don’t want to fake it,” says Maignan Wilkins. It might also help to study people who are stuck in their careers as examples of what not to do, Watkins says. Are they clumsy politically? Do they disrespect the lines of authority? Do they fail to make connections between departments?

Build relationships
There’s an old adage, “It’s not who you know, it’s who knows you.” When you’re evaluated for a promotion, it’s unlikely your boss will sit in a room alone and contemplate your potential. She’ll rely on others to assess your ability, which means you need supporters across the organization — people who are aware of the work you’re doing. “If you find yourself walking down the hall with the most senior person at your company, be prepared to answer the question, ‘So what are you up to?’” Maignan Wilkins says, “Don’t take lightly any interactions that may seem informal. Treat every situation as an opportunity to demonstrate the value you bring to the organization and your knowledge of the business.”

Amy Gallo is a contributing editor at Harvard Business Review. Follow her on Twitter at @amyegallo

Short-Circuit Conflict

By Jessica Stillman

When it comes to conflict, most of us go one of two ways. Some of us avoid disagreement, pushing down our anger and hurt and suffering in silence. Others thrive on conflict, working themselves up into a self-righteous lather that wouldn’t be out of place on a cable news program. It can feel so good to be so right when the rest of the world is obviously full of fools.

But it doesn’t take a lot of self-reflection to see both of these approaches have serious downsides. Repression has solved a grand total of zero business challenges and is murder on your mental and physical health. Self-righteousness has never been a great means to a constructive solution (and, frankly, can be addictive).

So what’s a better way? To get somewhere in an argument you need to stop thinking about how right you are, and spend some time squeezing your metaphorical feet into the other person’s shoes.

Julie Zhuo, a product design director at Facebook, took to Medium to share five hard but incredibly important questions you should ask yourself during an argument. Among them:

Can I fairly articulate the other person’s point of view?

If my first inclination during our disagreement is to call up a friend and begin a rant with, “He’s bat-s**t crazy. I Conflict-resolutionhave no idea why he’d say/do that, clearly he’s smoking something or he maybe he just possesses the IQ of a snail” — it’s a sign I have absolutely zero context on why you’re doing what you’re doing and have not stopped to think about it or ask you. So instead of overdramatizing the 2,395 ways you might be insane, why don’t I try and understand what’s actually making you tick?

Now, there’s a chance that even after more extensive research, the conclusion doesn’t change — said person is, in fact, crazy or low-integrity or possessing of a puny intellect. Fine. Then proceed accordingly, and don’t give up the good fight.

But those are the rare, rare cases. Generally, people are good. And smart. And acting in a totally reasonable way. Most of the time, when you dive in deeper, what you’ll find is that you were lacking their perspective. And had you known what they knew, or seen what they saw, you too might have ended up with their opinion.

You can’t even begin to resolve a conflict unless you understand why the other side thinks the way they do. So put some effort into figuring that out before you start questioning their mental aptitude.

Everyone, in other words, has a perspective, and you’re not going to get anything useful out of a conflict unless you spend some time at least trying to figure out what the other’s person’s is. It’s a point Peter Bregman settles on as well in another insightful post for the HBR Blog Network, noting that the key to a useful discussion about a disagreement is taking the time to acknowledge the other person’s perspective:

Always start the conversation by acknowledging how your actions impacted the other person. Save the discussion about your intentions for later. Much later. Maybe never. Because, in the end, your intentions don’t matter much.

What if you don’t think the other person is right — or justified — in feeling the way they do? It doesn’t matter. Because you’re not striving for agreement. You’re going for understanding…. Your job is to acknowledge their reality — which is critical to maintaining the relationship.

Is doing what Bregman and Zhou are advocating easy? Of course not. “We’re so focused on our own challenges that it’s often hard to acknowledge the challenges of others. Especially if we are their challenge and they are ours. Especially when they lash out at us in anger. Especially when we feel misunderstood,” writes Bregman, who offers a trick to make it easier: “While they’re getting angry at you, imagine, instead, that they’re angry at someone else. Then react as you would in that situation.”

This might sound a bit like something you’d hear from a marriage counselor, but both these posts are from business experts, which hints at why this advice is not just for couples but for small business owners. Your staff, customers and associates may not be as important to you as your spouse, but maintaining good relationships with them is as important to the healthy functioning of your business as maintaining a respectful dialogue with your significant other is for your relationship.

It may feel good to be right when you get in a conflict with someone at your company (hey, you may even be right in the end), but it’s probably much better for your business to spend some of that mental energy figuring out why they’re right in their own eyes.

Jessica Stillman is a freelance writer based in London with interests in unconventional career paths, generational differences, and the future of work. She has blogged for CBS MoneyWatch, GigaOM, and Brazen Careerist.

2012 Statistical Review

The Foundation for Community Association Research has released 2012 National and State data. Here are some of the highlights:

Four Reasons for the Growth of Community Associations

The Value of Collective Management. Americans largely have accepted the collective management structure of community association living. Similar restrictions often exist in rental apartment lease agreements and in zoning laws and building codes that govern traditional single-family, detached housing. In traditional housing, however, such restrictions are adopted and administered by public bodies rather than by association boards composed of homeowners who are elected by their neighbors to govern communities.

Privatizing Public Functions. Because of the fiscal challenges faced by many local municipalities, communities are often created with the stipulation that the developer will create an association that will assume many responsibilities that traditionally belonged to local and state government (e.g., road maintenance, snow removal, trash pickup and storm water management). This privatization allows local jurisdictions to permit the continued development of needed housing without having to pay directly for that infrastructure through property taxes.

Expanding Affordable Homeownership. There has been a persistent effort to increase the percentage of homeowners in America. Almost from their inception in the 1960s, condominiums have tended to serve as lower-cost entry housing, especially for first-time buyers. This was especially true of early condominium conversions in which apartment buildings were refurbished into condominiums. In today’s economic climate, achieving affordability is a perpetual challenge. Without the construction and operating efficiencies inherent in association development and operations, fewer Americans would be able to purchase homes.

Minimizing Social Costs and Fostering Market Efficiencies. Community associations not only maintain home values, but also reduce the need for government oversight and expenditures by providing services, assigning payment responsibility to homeowners and being responsive to local concerns.

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Building Toward Recovery

By Jeremy Quittner

Construction leads the way, but the recovery is affecting a broader base of businesses, according to a new study.

The construction industry continues to add fire to the economic recovery, according to the March private company index from Sageworks.

While the Sageworks index supports a host of other recent data that point to a housing market recovery, it also indicates economic improvement for a broader segment of private companies.

“Construction is growing sales and growing profitability, which is a good thing for companies in that industry,” says Libby Bierman, an analyst for Sageworks. “But things are pretty positive for [all] private companies, with average sales for the entire sector showing double-digit growth.” Construction is a key indicator to watch because it affects so many other industries, such as the wholesalers and retailers that provide supplies.

Sageworks analyzes 1,000 financial statements from private companies every day. The companies range in size from less than $10 million to over $1 billion. The current data is for the six months ended March 31.

Total sales across all industries increased 10 percent for the last six months, about flat from the same time period a year ago. Meanwhile, profit margins increased significantly: 7.3 percent compared with 4.5 percent in the same time period.

Sales increases in the construction industry jumped to 13.2 percent from 10.4 percent a year ago. Profit margins more than doubled to 4.5 percent.

“The construction industry has grown at a very healthy rate for the past two years, which is encouraging, ” says Brian Hamilton, Sageworks’ chairman, noting that the real estate industry was the worst hit and the last to rebound from the recession. However, that doesn’t mean the pace will continue, bolstering other sectors.

Four years into a recovery, “can we say for the next three years the construction is going to be strong? I don’t know. You are betting against odds on that one.”

The increases in profitability across the board are largely due to companies increasing efficiency, Bierman says.

The picture isn’t entirely rosy, however. Manufacturers’ sales growth increased, but at a slower rate than last year, declining nearly 5 percentage points to 10 percent. Wholesale businesses fared worse, with sales growth slowing by nearly half to 7.7 percent.

Wholesale businesses had been on a tear in 2012, increasing revenues by 13 percent for the year, so they had a much bigger base to improve upon, Bierman says.

The number of days it takes private companies to get paid has also crept up by 8 days, to 46 for the period ending March 31. That could be a worrisome trend in the future, suggesting customers are having cash concerns.

Generally speaking, though, “private companies are growing their top line and bottom line and this bodes well for future investment in companies and hirees, and provides a strategic cushion for business owners to make decisions,” Bierman says.

Jeremy Quittner is a staff writer for Inc. magazine and Inc.com. He previously covered technology for American Banker and entrepreneurship for BusinessWeek.