Business planning

What is the Will and Determination of Your Business?

Merriam-Webster Dictionary defines “will” as “the power to control one’s actions, impulses or emotions.” In the context of a small business, what is your ability (as the owner) to control your actions and those of your business? I think this a fair question that each business owner needs to be able to answer. Our ability to control the actions of our business potentially has very special and important consequences for ourselves and our business. If…

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At the End of the Day

When all is said and done what is it that you want to accomplish with your business? Hopefully you already have an “exit strategy” in place that will take care of how you hope to dispose of the business. However, there is an opportunity to consider so much more when you look at what you want to accomplish. For example, do you want your business to have an impact on your community. Every community has…

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Business Development – A Plus or Minus for Your Business?

Every business needs new business, right? How about your business? If so, then what kind of system or process do you have in place to develop new business? If the answer is no, no, and no, then read no further. If on the other hand your business can use new business and you do not have a process or system in place to generate then I encourage you to read on. Business development may seem…

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How High is Your Overhead?

How to effectively manage your overhead: treat it like any other expense, with care and constant review. Overhead is one of those numbers that always seems too high. Why? In my experience it is because like a credit card we charge items to the card and forget that the balance is always growing. It grows in good times and then when business softens, as it ultimately will, we are stuck with the number. A little…

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When Your Family is Part of Your Business – What Now?

I believe that the family-owned business can be among the strongest business structures available into today’s competitive business. However, like any good idea it needs to be fully understood and respected for what it is by every participant (family member). There are several challenges and distinct advantages that are offered by the family-ownership structure. First and foremost is the challenge to work-life balance. I grew up in a family business and the business was a…

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