Archive For: Administration

Will Your Business Grow This Year? – Why or Why Not?

Will Your Business Grow This Year? – Why or Why Not?

Did your business grow this year?  Why or why not?  If growth was not a goal this year, will it be a goal next year? These are questions you should be asking yourself right now as we begin moving into the final quarter of the year.  The reason is because sustainable business growth doesn’t just ... Read More
 
3 Questions You Must Answer to Successfully Exit Your Business

3 Questions You Must Answer to Successfully Exit Your Business

I attend a lot of meetings and seminars focused on exit planning.  But, most fall short because they only focus on the transactional portion of the process. In fact, if you follow the advice that I’ve been posting for more than 2 ½ years now, you’ll get there!  Then all that transactional stuff will be ... Read More
 
3 Steps to Get Your Business Growing Again

3 Steps to Get Your Business Growing Again

All the small business economic trends according to the National Federation of Independent Businesses (NFIB) seem to be pointing to the fact that the economy is picking up.  And, businesses are beginning to focus on growing again. Have you built your growth plan?  Or, have you begun to work through the mechanics to put that ... Read More
 
Applying Action to Achieve Results – Business Success Step 4

Applying Action to Achieve Results – Business Success Step 4

With the first 3 steps of our business success formula completed you can now begin applying action to make your vision a reality.  But, haphazardly applying action will get you nowhere fast.  So, a business plan is critical to creating a “roadmap” toward business success. So now I sound like every other Tom, Dick, and ... Read More
 
Maximizing Your Resources Speeds Business Success

Maximizing Your Resources Speeds Business Success

So now you have found your passion  and have set a business vision to consciously use your company as a vehicle to realize success.  Many people begin scrambling to make things happen.  This is a mistake! Like anyone else, you only have limited resources with which to work.  So you better maximize the return you ... Read More
 

Success Step 2 – Create Your Business Vision

In Success Step 1 – Define You Passion, you got a better idea of what success really looks like to you – both personally and professionally.   Now you need to apply this new found understanding to your business.  You do this by creating a business vision. Creating a Business Vision You create a business vision ... Read More
 

Five Ways Accepting Mobile Payments Helps Expand Your Business

Contributed by Jacob Thompson A mobile merchant account allows for a business to accept mobile payments through a cell phone or mobile device. Here are just five ways accepting mobile payments can help expand your business. 1. Billing Headaches are a Thing of the Past If you sell goods or services on the go or at ... Read More
 
SUCCESS – 6 Steps That Get You There Faster!

SUCCESS – 6 Steps That Get You There Faster!

Why Understanding Success is So Important Most people seek out the service of my company when they are frustrated.  While often they say it is their business, more often than not it’s because they haven’t taken the time to define success for themselves. Achieving success in business is a process, just like everything else.  It ... Read More
 
16 Questions That Can Help You Fix Stagnant Growth

16 Questions That Can Help You Fix Stagnant Growth

Stagnant growth is a result of a misfiring revenue engine.  In order to grow your business you must expand. The revenue engine is a concept DE, Inc created to explain how to evaluate the operational cash flow cycle of the business to small business owners.  If you don’t understand when your revenue engine hits its ... 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
 
Growing a Small Business – 3 Things Make It Happen Faster

Growing a Small Business – 3 Things Make It Happen Faster

Growing a small business is actually a simple process.  There is a defined and predictable formula to small business growth.  The problem is most small business owners don’t take the time to learn the formula! While the formula is simple it is not easy.  That’s because there are so many dynamic to a business which ... Read More
 
9 Benefits of Factoring Receivables

9 Benefits of Factoring Receivables

Many people are afraid of factoring, but frequently that’s because of the stigma often attached by the banking community to this form of financing.  There actually are many very positive aspects to factoring.  See if any of these could help your business: Elimination of bad debt – a non-recourse factor will assume the risk of ... Read More
 
What Do You Do When the Bank Won’t Finance Your Business?

What Do You Do When the Bank Won’t Finance Your Business?

Accounts Receivable Factoring Factoring may not be the world’s oldest profession, but not far from it. This financial practice can be traced back to theRoman Empire. Factoring was the dominant form of finance in the American colonies before the Revolution (mainly textile firms). Over the past few decades, consolidation has created two distinct types of ... Read More
 
3 Causes of Entrepreneur Financial Problems

3 Causes of Entrepreneur Financial Problems

Entrepreneur financial problems are one of the biggest challenges they face.   Usually it’s because they don’t have enough financial resources to accomplish their business goal.  This is because a business cannot exist without financial resources, but many businesses don’t have enough to accomplish their growth objectives. There are several reasons for entrepreneur financial problems, but ... Read More
 
Cash Flow: An Entrepreneur’s View

Cash Flow: An Entrepreneur’s View

  Cash flow is the life blood of any company.  But many entrepreneurs don’t understand the concept.  Most people believe it’s a financial term so they avoid it like the plague! What is cash flow?  About.com defines cash flow as “The movement of money in and out of a business and the resulting availability of ... 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
 
3 Steps to Improved Business Performance

3 Steps to Improved Business Performance

You didn’t start your business to get where you are right now!   To get where you want to go you need to improve business performance by doing 3 things: Determine exactly what stage of the growth cycle your business really is. Focus on the right objectives to move to the next stage of the growth cycle. Learn what ... Read More
 
Creating Your Business Plan Made Easy!

Creating Your Business Plan Made Easy!

Writing a business plan is really just a mechanical process.  The reason writing a business seems so hard is most people haven’t answered 2 critical questions before they start — “what” and “why”.  The first question “what” gives you the target that you’re shooting for.  The second question “why” gives you the compelling business reason to ... Read More
 
4 Keys to Creating a Profitable Business

4 Keys to Creating a Profitable Business

We’ve all heard the statistics: 7 out of 10 new employer firms survive at least two years, and about half survive five years.  According to the SBA statistic reported by SCORE in 2008 there were 627,200 new businesses, 595,600 business closures and 43,546 bankruptcies. What can you do to avoid being on the wrong side ... Read More