Posts Tagged ‘business planning’
The easiest way to be better than the competition is to be different🦾 (1/4)
You will never be the only business offering what you offer. You will always have competition. Some of your competition will look and sound a lot like you. Some won’t. But they will exist and they will try to attract your clients. What should you do? Be better? But better than what? And according to…
Read MoreFinancial insight: an essential to grow your business
Your numbers tell a story. It’s a story about the past, and about right now, and about what could happen in the future. If your only in-depth look at your financial results is once a year when reporting taxes, it may be time to outsource financial reporting to an expert and so you can use…
Read More3 must-know essentials to grow your business
You want to grow your business. Why else would you be in business if not for some type of growth? After all, growth brings you more than just revenue. It is also about new opportunities, new clients, additional products or services, stronger bargaining power, better talent, and especially: increased value for a future exit. Growth,…
Read MoreOperations: 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…
Read MoreSmall 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…
Read More3 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…
Read MoreYour 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…
Read MoreDoes 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…
Read MoreAre 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…
Read MoreYour business is more than the sum of its parts: the Value of a Self-Sustaining Business đź’Ş
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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