How’s your workload these days? If the pandemic has forced you back into the weeds of your business, you’re not alone. Many owners are again doing tasks they haven’t done in years because they have had to lay off front-line staff or their employees have fallen ill or are caring for someone in need. Being […]
The Hidden Downside Of This Common Management Idea Cross selling new products and services to your existing customers may be a great marketing strategy, but if your goal is to increase the value of your business, the added revenue may do nothing for your company’s value – and may even lower it. In order to […]
Post-Traumatic Stress Disorder (PTSD) is a mental health condition triggered by experiencing a terrifying event. Although not at the level of enduring a war zone, the events of March 2020 may leave you feeling similar symptoms. If you’re like most business owners, the first quarter of the year was progressing like any other. Then…bang! A […]
What Drives Your Multiple? The value of your business comes down to a single equation: what multiple of your profit is an acquirer willing to pay for your company? Profit × Multiple = Value Most owners believe the best way to improve the value of their company is to make more profit – so, they […]
Reasons to Consider Offering Your Customers a Subscription Volvo recently announced they will make their cars available on a subscription model where consumers will pay one fixed fee per month for access to a car which includes insurance and maintenance. Everything from tooth brushes to flowers are now available with subscription billing. Could you offer […]
How to Productize your Service to Scale your Business If you’re a service provider, it can be difficult to separate the service from the provider. Your customers might demand you, which means you can’t scale your business beyond the number of hours you’re willing to work. In the absence of a point of differentiation, offering […]
Are you Building a Company or just doing a job The ultimate test of your business can be found in a simple question: would someone want to buy your company? Whether you want to sell next year or a decade from now, you must be building an asset someone would buy – otherwise, you have […]
Things Most Successful Business Owners Do Much is made of analyzing the personality traits of successful entrepreneurs. Some appear outgoing. Others are introverts. Some lean right, others left. Some are flashy. Others are monk-like with their money. Their diversity can lead one to the conclusion that there are no common personality traits among successful founders. […]
How to set up your business so that it can succeed without you Some owners focus on growing their profits, while others are obsessed with sales goals. Have you ever considered making it your primary goal to set up your business so that it can thrive and grow without you? A business not dependent on […]
What percentage of your net worth should your business be? When was the last time you calculated the percentage of your net worth tied to your company’s value? When you started your business, its value was probably negligible. Unless you purchased or inherited your company, it wasn’t worth much when you opened your doors, but […]
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