Operations: part 1 of the 2 sides of business

Because I like numbers, or because I like lists, or maybe because it was lunchtime and I was hungry, I recently came across this 2020 article about the two sides of business. (The PB&J image showed up first).  Mainly I like business to be simple. A two-sided object is pretty simple. What are operations I…

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Small Business and Cash Flow Issues in 2023

I present part 3 of 3 key business skills: Finance, written by Corbin Cook, Virtual CFO & Exit Plan Advisor. Small businesses can often struggle with cash flow issues.  Managing both the incoming and outgoing funds is an important task that must be done carefully in order for business owners to remain profitable. Cash flow…

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3 key business skills, part 1: Management

“It is easy to be distracted by your customer-facing work, but the foundation of your success will be built on sound management practices.” This quote is the reason I keep returning to this article in Small Biz Viewpoints.  The article highlights three key business skills that owners must nurture. We’ll take a look at each…

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Your org chart shouldn’t look like an octopus

“Make an organizational chart?” He asked me. “But that’s so 20th century, do businesses still do that?” Only the good ones.  The problem was never organizational charts: the problem was always bad organizational charts. And in small businesses, org charts are even harder, because so many people fill multiple roles. Pretty soon they look like…

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Does everybody know your mission statement?

If I ask ten of your employees what your mission statement is, how many different answers will I receive? And how different will they be from your answer? Use your mission statement Your mission statement is a tool. Use it.  I am aware that many people see it as a form of PR, a “nice…

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Are you achieving all of your goals on time?

The next question is: does it matter? What’s most important to you when it comes to achieving your goals? Meeting a deadline Checking a “completed” box Creating new value in your business You probably know where I am going with this: goals aren’t about dates and times.  Goals add value to your business.  What has…

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Your business is more than the sum of its parts

I recently started working with a new client, who first called me because in his words: “I realized I had given myself a job, not built myself a business”.  It all started when he considered the option of semi-retirement. And he realized that the most valuable – maybe the only truly valuable – thing in…

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A business plan starts with questions

We have talked about why a business plan is important, and even how to write one in ten minutes. Two ways Tuesday On Your Business is trying to make business planning effective and simple at the same time.  In response to this, many of you have correctly asked: what about the content that goes into…

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When you want to make bad decisions, follow these tips ✅

It is true that we learn more from failure than we do from success. When you’re looking to add to your failures and learn some great lessons, you want to make bad decisions, decisions that lead to more problems.  Wondering where to start? Here are some tips.  Panic Assume the worst will happen.  Let go…

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Why does a small business need a business plan?

…  It’s just that… It seems like a lot of work. Especially for a small business.  To spend all this time writing out a detailed plan for the next five years when you can’t even predict the next 5 months, let alone stop working for 2 weeks to complete a plan that will live at…

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