A business has many moving parts that must all be coordinated to ensure smooth and profitable operations. Usually, there are aspects of a business that are either completely ignored or not given the time, energy and focus that they need. These moving parts can be broken down into 3 major areas: operations, marketing, and financial. […]
Technology
Why Does a Fast Growing Company Bleed Cash?
The irony of growing a company quickly is that it tends to bleed cash, and a lot of it. Why is this so and what can you do to prevent a cash crunch to keep the momentum going? A fast Growing company is likely to spend more money to feed the growth of the business […]
You Get What You Pay For
I like a good deal when I see one, but be careful about going for the “cheap” price. Generally, you get what you pay for and many times it ends up costing you more and you either don’t realize this or realize it once it’s too late. Even commodity type services and products are not […]
What is a Growing Business Doing Differently than a Struggling One?
There are major differences between the actions of a business owner with a growing business versus that of a struggling business. There seems to be a recurring theme for growing and struggling that closely mimics those who are fit and healthy versus those who struggle with their weight. The accumulation of certain actions will greatly […]
5 Traps to Avoid When Growing Your Business Rapidly
Growing your business, especially growing rapidly, can be a really great accomplishment, but there are dangers when growing too quickly. Here are several traps to avoid to ensure successful growth: Cash flow: Quite often, a small business will have cash flow issues when growing too rapidly. This is due to a delay of getting paid, […]
5 Ways Your Calendar Will Help You to Work Less Hours
Are you using your calendar as a tool to be as productive as possible? Most people do not use their calendar in a way to maximize its effectiveness, but if used properly, it can help you to reduce the amount of hours you work. Here are 5 ways your calendar can help you to work […]
When Should Your Parents Stop Being Involved in Your Financial Affairs?
Our parents raised us and shaped who we are today, and there is probably nothing that we can do in comparison to what our parents did for us, except for perhaps raise our own children well. But, when should our parents stop taking charge of our finances, career and/or business? It is a good for […]
Will Outsourcing Create Higher Profits?
When we think of outsourcing, we immediately think of manufacturing goods overseas or customer service reps with thick accents reading from a script. Even with all of the negative images of outsourcing, should you still outsource parts of your business or even vital functions? Here are some pros and cons: Pros of Outsourcing: Potentially lower […]
Want a Better Business? Focus on Recurring Revenues!
There are more ways to make money in business that can be listed. However, one mostly overlooked business model by a majority of small businesses is the recurring revenue model. Larger businesses already know this and are taking advantage of the benefits. Here are some pros and cons and how to implement the recurring business […]
Small Business, Large Profits
All small business owners want to increase sales, open new locations, obtain more customers, add employees and grow, grow, and grow some more. It sounds good, but is it really necessary? Is there an alternative? Necessity: It is necessary to grow your business as the alternative isn’t too appealing. You have financial obligations and people […]