Succession Happens It is either planned or forced. All people move on. If you're not planning for succession, you're not running your business. Succession planning is simple in theory but takes … [Read more...] about Small Business Succession Planning
What is strategic planning? Let’s start with the most basic. Strategic planning is the process in which a business defines and executes a long-term plan to achieve organizational objectives through … [Read more...] about Strategic Planning – Clear examples of Success
What do you know about critical supplies and the path travelled to your door? Discussions of risk have been at the front of our national and international dialog for over a year now. … [Read more...] about Supply Chain Risk
To use incentives or not to use incentives, that is the question often being asked by managers in today’s competitive marketplace. Combating high turnover and looking for ways to increase productivity … [Read more...] about How to Design Incentive Programs that Work
Wall Street judges you on it. Shareholders demand it. Management scrambles to make it happen. Revenue growth is the mantra of modern-day business. Quarter by quarter, the pressure is on for sales … [Read more...] about How to Assess Revenue vs Profits for Business Health
Typically, when starting a business, it is very uncommon for the entrepreneurial mind to see itself not being part of that business in the future. As companies endure through time, it becomes … [Read more...] about Leadership and Succession Planning
It would be easy to think that 19th-century writer, Leo Tolstoy, was thinking of the challenges a small business faces, when he wrote, “The two most powerful warriors are patience and time.” How many … [Read more...] about Manage Time Wisely for Effective Business
A challenge facing owners and managers of all businesses is how to increase the profitability of the company. The focus almost always turns to increase sales revenue. The strategy is to increase sales … [Read more...] about Increasing Profitability In A Organization
Every business follows a certain workflow but what most businesses tend to overlook is the fact that these workflows can be improved and managed better. A manager surely understands how certain … [Read more...] about 10 Workflow Strategies to Improve Performance
You know what is odd? Nobody expects successful experts - doctors, electricians, sports figures, lawyers, plumbers - to just wing it. We know they put a lot of time into learning about and training … [Read more...] about Two Ways to Make Your Business More Successful
The transportation and logistics industry is currently going through some major transformations. These changes are creating opportunities and challenges. Successful shippers are looking for ways to … [Read more...] about 3 Topics For Transportation and Logistics
2020, The Year of Innovation. 2020 has been an incredible year for innovation opportunities and possibly a wakeup-call or reset of complacency or standard thinking. Yes, it was a strain on our … [Read more...] about What’s Going to be New in 2021?
Many business owners do not realize that their Experience Modification Rate (EMR) safety rating can be a powerful marketing tool. In industries where the competition is stiff, business owners are … [Read more...] about Safety and Marketing: How it Affects Profitability
The Architectural and Engineering (A& E) Industry's business cycle is one of peaks and valleys. Its history is filled with boom and bust times. Its customers (i.e. manufacturing, steel, auto, … [Read more...] about 3 Ways to Stabilize Your Business
A cash management plan is important in any business whether you are a contractor, wholesaler, or even a business management consulting firm, because it allows you to be better prepared for future … [Read more...] about Cash Management Plan: Know Where Your Money Is
Are you a small business owner who has not taken the time to develop or update a formal plan for the business? Do you understand why business plans are essential? What could it mean for your business? … [Read more...] about Business Plans Provide Small Business with Direction
Organizations often struggle to successfully implement annual goals that are both useful and meaningful to everyone. Frequently, a company might attempt to create a banner that says something like "2 … [Read more...] about 6 Steps to Implement and Develop Annual Goals
A business plan is a document that spells out the direction the business will take and the actions that will execute the plan. Creating a business plan is not an arduous effort, the challenge for an … [Read more...] about Creating a Business Plan 101
A company’s sales plan is only as good as the people who execute it. Sales talent acquisition is an on-going problem for business owners. Too many companies have order takers who wait for the customer … [Read more...] about For Lead Generation, Look for the 3 A’s
Strategic planning sounds like a difficult task though it mainly is common sense. Though as a serious business owner putting structure to common sense is also common sense. This blog will review the … [Read more...] about Strategic Planning Process
“Time Management” is one of those phrases that a lot of people throw around, but very few know what it means, and even less practice effective time management. The concept of time management is not … [Read more...] about 3 Steps to Effective Time Management
When it comes to working and growth capital, business owners get frustrated with banks and banks get frustrated with business owners. Banks get frustrated with owners who expect to get a loan or line … [Read more...] about What Banks Want You To Know About Money
You know the old saying, “If all you have is a hammer then everything looks like a nail.” It reminds us that we need several tools in our “successful business toolbox” to get the job done right. We … [Read more...] about Train Your Mind for Business Success (Part 2)
Are you looking for the secrets to long term business success? If so, you are not alone, many business owners are. You know that success can be hard to find, and is even harder to … [Read more...] about Train Your Mind for Business Success (Part 1)
Business development is one of those strange business concepts. When you ask someone to define it, depending on their occupation, you will get different answers. People usually describe it based on … [Read more...] about Understanding the Concept of Business Development
There are many “things” a business owner needs to grow a company successfully. Some of them include equipment/machinery, warehouse/office/shop floor space, trucks, a new product line, land, etc. In a … [Read more...] about Plan for a Successful Capital Investment
Talent acquisition is an on-going problem for most business owners. One of their biggest complaints is - I can’t find good people to work for me. What if they could change that? They can do so by … [Read more...] about Talent Acquisition – Why is it Hard to Find Good People?
One of the first decisions - consciously or unconsciously - people make when they become the boss is what their management style is going to be. Some decide theirs is going to be “laid-back.” … [Read more...] about Why Your “Laid-back” Management Style Isn’t Working
Did you know that profitable, growing businesses regularly go bankrupt? One main reason is cash flow mismanagement. The typical business owner is not trained for, nor understands cash flow management. … [Read more...] about Four Strategies for Managing Cash Flow
Too many businesses stagnate, decline or fail because they are not adequately diversified. Diversification is one of the most challenging decisions a company can make, which is why most business … [Read more...] about Diversification – Stack the Deck in Your Favor
Are you an owner who is thinking of selling your business? If so, do you know how to sell your business? If you are like a lot of owners the answer to the first question is, “Yes, I’m ready to go … [Read more...] about “Are You Ready to Sell Your Business?” Checklist
Establish Price based on Gross Margin One effective means of establishing selling price is based on gross margin. Using this approach, it is imperative that you have a good understanding of all the … [Read more...] about Pricing Methodologies and Strategies
Business owners who do not like to talk about, put together or follow a budget are more common than one may think. If left too long, the situation degrades into a position where owners are on the … [Read more...] about The Road to Bankruptcy Is Paved with Bad Budgets
A business plan outline is an initial overview of what goes into the business plan. An outline is created as the first draft and is likely a result of a “napkin” discussion or some other non-formal … [Read more...] about What is a Business Plan Outline?
A business plan format is a structured description of what goes into the business plan. The business plan should present what the business will focus on, who will be on the business team, business … [Read more...] about WHAT IS A BUSINESS PLAN FORMAT?
When first meeting my clients, I always work with them on visualizing the future they want to achieve. I’ve had some interesting responses ranging from being able to spend more time pursuing personal … [Read more...] about Regaining Business Vision
"Yup, you better believe it! How'd you know?" A business goes through phases, just like personal relationships. When a business, or a couple, get through the "will we or won't we make it" startup … [Read more...] about Are You and Your Employees Sick of Each Other?
Having a definitive strategy in place is critical for small businesses. This will define the plans you, as a small business owner, have in mind for moving from where you are currently to where you … [Read more...] about 3 Steps to Small Business Strategic Planning
In our attempt to uncover financial leaks in small businesses that will help save them money, our research has found that U.S. small businesses spend, collectively, approximately 60 Billion dollars … [Read more...] about Energy Leaks Are the Most Prominent Financial Leaks
Previously we had provided an extensive list of tax deductions that you should be aware of as you prepare receipts and records for filing 2018 deductions in 2019. Tax minimization is always going to … [Read more...] about List of Tax Deductions and Credits
It is imperative that business owners take risks. That is how owners reach their goals, grow companies and make money. But, not all risks are good risks. They are more likely to succeed if planned and … [Read more...] about Make Risk Less Risky
The SBA defines a small business as one that employs 500 persons or less and according to the Bureau of Labor Statistics; small businesses are representative of 99.7 percent of all employing firms and … [Read more...] about The Importance of Your Business in Your Community
Do you have a business to sell in the next few years? If so, then you are joining the ranks of a significant number of owners who also wish to sell. Baby boomer business owners (born from 1946 to … [Read more...] about Positioning Your Business to Sell
Traditional small business owners often tend to give millennials far less credit than they deserve. Although old school thought leaders have a lot to bring to the table, to increase profit, it's time … [Read more...] about Millennials — What are They Doing Right?
Human nature is inescapable, and we all experience its challenges from time to time. We do not mind doing a task that has to be done when it is easy, when we are interested in it, or when it does not … [Read more...] about 3 Ways to Maintain Long-Term Business Success
Talk to any business owner about their business, and it won't be long before the conversation turns to the problem of finding talent and keeping it. It's a key issue in the marketplace. Those who do … [Read more...] about How Much “Hidden Talent” is in your Company? Almost None
Although many small businesses have already either filed their tax returns or have filed their Form 4868 for the purpose of requesting an extension, there are many small businesses and individuals who … [Read more...] about The IRS is Granting Help For Small Business
With absolute certainty, when it comes to running your small business, you know best. However, every small business owner is eventually faced with issues whereas connections to other like-minded … [Read more...] about Small Business Associations, a Comprehensive List
As we previously discussed the various types of owners involved in a business, we concluded that eventually most would lose interest or lack the skills to run their company. Whether, it is the … [Read more...] about Why Hire a Management Consultant?
Is there anything that gets a bigger yawn than talking about procedural systems? Maybe not, and it is too bad because a lot of business owners have the wrong idea about them. These are some of the … [Read more...] about Procedural Systems: Get the freedom You’ve Always Wanted