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Business Execution – 10 Things Make You More Effective

Business Execution – 10 Things Make You More Effective

Last week I started a new set of articles focused on execution titled Why Business Execution in Critical to Successful Growth.  In it I tried to convey the difference between just taking action and business execution, also known as business strategy implementation.  The main difference is FOCUSED vs RANDOM action. This is a pretty simple ... Read More
 
Understanding Strategy vs Tactics: A Key to Business Growth

Understanding Strategy vs Tactics: A Key to Business Growth

The debate over strategy vs tactics rages on and on.  It is an important topic, and I will show you why in a moment.  However, if you ask any trusted adviser you’ll find that everyone has a little different opinion.  And even worse, usually uses their perspective to explain the difference of strategy vs. tactics. ... Read More
 
Succession Planning vs. Exit Planning Which Do You Use?

Succession Planning vs. Exit Planning Which Do You Use?

Often the terms succession planning and exit planning get used interchangeably.  However, there is a definitive difference between the two. It’s important as a business owner that you understand the difference. Succession planning is really identifying, training, and transferring the leadership/management of a company to another person or team of people.  Exit planning, on the ... Read More
 
3 Stages to Rapidly Achieving a Self-Sustaining Business

3 Stages to Rapidly Achieving a Self-Sustaining Business

Last week I introduced the correlation between the growth cycle and creating a self-sustaining business in my post “What Is a Self-Sustaining Business?”.  This week I’d like to share how to begin moving toward making your business self-sustaining! Achieving a self-sustaining business is easy enough.  You just have to achieve the goal of each of the first ... Read More
 
5 Questions Help You Get Past Shiny Object Syndrome

5 Questions Help You Get Past Shiny Object Syndrome

I see small business owners get distracted from their main vision all the time.  It’s amazing how many owners have attention deficit disorder (ADD). ADD can be a strength in business.  But, it also presents its challenges by creating what I call – shiny object syndrome! Shiny object syndrome stems from a person’s ability to ... Read More
 
Poor Cash Flow – 5 Things That Could Be Causing It

Poor Cash Flow – 5 Things That Could Be Causing It

Poor cash flow is a critical concept that many entrepreneurs don’t fully understand.  I believe this is because they usually hear about it from accountants that try to explain it in accounting terms.  Poor cash flow is an operational issue.  And, you fix it by tuning your revenue engine. In the post “Cash Flow – ... Read More
 
3 Ways Clear Vision Contributes to Your Business Growth

3 Ways Clear Vision Contributes to Your Business Growth

Vision is passion documented.  And passion is a powerful motivator.  In a previous post titled Why So Many Small Business Owners are Unhappy, I discussed how many entrepreneurs get distracted by the day-to-day operation of the business and lose the passion that drove them in the beginning.  The reason this happens is because they have ... Read More
 
Knowing Your Operational Capacity:

Knowing Your Operational Capacity:

Avoid Blowing Your Revenue Engine Do you know exactly how much money your current operation can produce?  Over a 90 day period in 2009  I presented our “Tuning Your Revenue Engine” seminar to more than 100 business owners and professionals.  Less than a handful actual knew the maximum capacity of their business.  That is, exactly ... Read More
 
What is Your Small Business Growth Stage?

What is Your Small Business Growth Stage?

See larger image Where Is Your Business? Kindle Edition: Check Amazon for Pricing Digital Only As introduced in my previous posting, The Search for Growth Continues, I concluded that a 5 business growth stage model was best.  It seems to be the most common approach and statistical research supported it too.  The following 5 business ... Read More