I have recently been exposed to a whole new side of business operations and management. This underutilized tool combines accounting, finance, technology and operations. It makes smart companies smarter, and executives across the country and around the world are standing up and taking notice. You need to consider it for your business because being smart means moving fast. And for entrepreneurs, and companies that want to compete like they are entrepreneurs, precisely extracted information means serious business horsepower. What is this new magic bullet? In a phrase, “Business Intelligence."

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I always recommend that people and companies position themselves as world-class experts (see http://tinyurl.com/2dqrykh). Pick a niche that you can be great at, go after that niche ferociously, and make sure the world knows you're one of the best at the tiny little niche that you have picked. There's more money in niches and it’s the best way to stand out. Unfortunately, many entrepreneurs are nervous to limit the scope of their services because they worry they will miss out on something. But it is well known that you'll make a lot more money in the long run when you specialize, because you will have less competition, better brand recognition, and you will produce better results when you do the work that you are best at. More on These Guys Know Parking

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More on Should the Concept of Estate Tax Apply to Big Corporations?

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The conditions that real estate is facing right now can only be described as irregular: the free market is not working freely. Banks are holding properties and the Fed has not mandated the sale of these properties. Property owners have lost their equity. Short sales abound and foreclosure is at an all-time high. Turbulence and confusion have created an anomaly market.

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In economics, it's well known that a perfect market is one in which everybody has access to information instantly, accurately, and uniformly. The closest market in the United States to this is our stock market, where the information flows freely; investors know exactly how securities are priced within moments of the most recent trades. Perfect markets are difficult to beat, and the people who identify and take little pinches of profits call it arbitrage.

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A few days ago, I shared my view on how entrepreneurs are being squeezed out in this economy - even more so than our bigger company counter-parts who have also been struggling. A lot of people agreed — and a few disagreed – but this topic created a lot of discussion. Now I want to put forth a strategy for entrepreneurs to embrace. One which could help all of us overcome this mess.

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More on The Death of Entrepreneurship?

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One of the first lessons I learned, as a young accountant working in the tax department of a multinational CPA firm, was that "pigs get fat, and hogs go to slaughter." In the tax business, this means that taxpayers should push the law as far as they can, but if they are overly abusive, they will get nabbed and probably end up spending time in the Cross-Bar Hotel.

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There's no single question, that I've been asked more in the last six months,
than "is now a good time to by real estate"?

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I normally don't write columns that leave my readers hanging but I wanted to
take the weekend to think about my conclusions - and to think about how
accurate my thoughts are. I also wanted to take some time to absorb the
commentary that every political and business observer has put out.

More on How to Cash in on the Recent Health Care Legislation (Part 2 of 2)

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