Small businesses are the envy of larger companies: they’re nimble and able to adjust their marketing and customer offerings on a dime. However … when was the last time you audited your company’s processes, including bookkeeping, accounting, inventory, and production, and made them earn a place in your business? The key is: in asking tough […]
Blog
“Watercooler” Moments Are Actually Good for Business
You work. You play. You live in two separate worlds that seldom collide. This was the way it was for previous generations. Today’s workforce, however, is introducing a new dynamic; the lines between work and home are blurring. At the heart of this change Is the development of close work friendships. Socializing with coworkers is […]
Your Earnings will always be in Line with your Mindset
Still small? Start thinking big! The idea’s not original, Google it and you get more than 7 million results, but that doesn’t mean it can’t change your business … and your life. As Anne Bachrach noted in a recent LinkedIn post, “Whether or not you realize it, your earnings will always be in line with […]
How to Lean in and listen for changes in your industry
Like it or not, the world is in flux and the way we do business is changing. In fact, big changes are occurring in virtually every industry, and savvy entrepreneurs are finding ways to embrace emerging business trends. It’s not always easy to spot emerging trends To know what’s a trend and what’s a fad, […]
Performance and Financial Metrics That Matter
As a start-up, your focus is mainly on the bottom line. But as your business grows and evolves, a look at some key performance and financial metrics is warranted. Here are some critical metrics to track. Customer acquisition cost (CAC) The cost of acquiring a new customer includes everything from the cost of goods sold […]
Mentoring Benefits the Mentee, the Mentor, and Their Company
A good mentor can make a difference in the careers—and lives—of their mentees. Call it giving back or preparing for the future: mentoring, when done thoughtfully, with respect and open communication, can be beneficial to both sides. Here are some best practices for successful mentoring: Seek out opportunities to help your mentee grow and learn.Help […]
Measuring and Controlling Customer Acquisition Costs
How is this accomplished? By measuring customer value. It is important to periodically take these measurements to understand your marketing effectiveness. Too many business owners fail to make these calculations. Often, the lack of effort is simply due to a lack of understanding, but the process is actually quite simple when broken down into five […]
Make Your Meetings More Meaningful
Pointless, endless meetings are the bane of the workweek. But meetings don’t have to be a boring waste of time. Use the following tips to make your meetings more productive. Start with proper preparation Before calling a meeting, have a clear purpose, a well-defined agenda, and specified outcomes that you want to achieve. Limit the […]
Key Ratios for a Healthy Balance Sheet
It’s an outdated concept: entrepreneurs who believe that all they need to know about their companies’ finances is revenue and expenses are fooling themselves. Those who want insight into the true strength of their company are familiar with their balance sheet and the crucial financial evaluation it facilitates. Getting started The Balance Sheet is a […]
Why Empathy in Leadership is a Good Idea
A 2019 University of Oxford study found that workers are 13 percent more productive when happy, providing a conclusive link between happiness and productivity. As fear- and shame-based business models fall away, millennial-led trends of kinder, happier working environments and empathetic leadership are fast becoming the norm. Here’s how and why being an empathetic leader […]