LOCATION?

Date:  Comments: 0

In retailing, it is said that the 3 keys to success are location, location, location. That isn’t true. In any business, the 3 most important things are preparation, preparation, and preparation. Finding the right location is part of preparation. Success happens when opportunity and preparation meet. All of us will have opportunities in our lives...

Cash Flow Discussion

Date:  Comments: 17

If you could only do one thing to improve cash flow, what would it be?     Roy Austin, CPA, CMA, MBA Business Coach & Trainer for Sustainable Success | Purchasing Solutions | LION | 1800+ Contacts | [email protected] Top Contributor I posed this question to the Chief Financial (CFO) Network on LinkedIn.  Here are...

SMARTS

Date:  Comments: 0

You don’t have to be smart to run a successful business but you need SMARTS.  You’ve all heard about SMART goals (specific, measurable, attainable, relevant, time bound).  But this formula is incomplete.  All goals are but a wish unless there is a plan or strategy for achieving the goal.  So add the “S”, Strategy, and...

What You Have to Know To Run A Business

Date:  Comments: 0

In the book “Shark Tank-Jump Start Your Business” Robert Herjavec is quoted as follows: “Cash is the lifeblood of your business.  There are very few things in business that will kill you, but running our of cash is one of those things.  you can recover from almost any other mistake, but if you run out...

LinkedIn Tip #1

Date:  Comments: 3

LinkedIn is a form of social media – for business.  The key word here is business.  Here are a couple things you can do to improve your presence on LinkedIn: 1. Put your picture in your profile – most people want to connect with a person not an occupation. 2. Have your picture done by...

Time Management

Date:  Comments: 0

Control your calendar. If you don’t the world around you will control it. How? Simple: 1-Make appointments with yourself to work on your business. 2-Work on the most important thing rather than the easiest or most enjoyable task

DIY Mentality

Date:  Comments: 2

We all want to save money both in our business and personal life. One way to do that is Do It Yourself (DIY). But is that always a good idea? Could I do my own electrical, plumbing, car repair, website, signage, home inspection, legal, accounting, landscaping, HR, IT, marketing, counter tops, coach my own business,...

Who’s Driving?

Date:  Comments: 2

Would you drive your car but not look at the road? Many small business owners do that in terms of their financial information. They just turn things over to their bookkeeper, accountant or CPA and never look at the reports. No matter who is doing your accounting you still need to review what they are...

Adding Employees

Date:  Comments: 0

This is one of the toughest questions for small businesses.   How much can you afford?  How do you determine what your salary cap is?  How much money do you need to cover the cost of adding another person?  When you go from 5 to 6 employees you’ve increased your work force by 20%.  We...

Is your business on defense or offense?

Date:  Comments: 1

You’re on defense if everything stays the same.  Defense is a sure way to get passed by the competition.  But offense means more marketing, new equipment, etc.,  which means costs.  You have to be in constant improvement mode but going on offense you have to know your numbers, what you can & can’t afford, what...

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