Opportunity cost does not show up in your financial statements, but it is something that all businesses should monitor “I can’t afford to hire anyone” – most likely, the reality is you cannot afford NOT to hire someone How much profit does a customer...

Do you know the “real” acquisition cost of getting a customer? How much money will that customer generate? Is it worthwhile spending the money/resources to acquire the customer? Be sure to include the full cost – if using sales people or owner, be sure to...

Many businesses operate by the “marginal” principle - If margin is positive, then it is good business - Not necessarily. It depends. (Gross Margin is calculated - Revenue less Cost of Goods Sold.  Net Contribution is Gross Margin less other costs related...

How do you climb Mount Everest? The old adage, “One step at a time”, is the only way. The steps are not just the physical steps:        Dream/Set Goals, Plan, Execute Dream/Goals Do really want to do this? Passion to achieve?...

This latest buzz word, has been around since the beginning of the first barter – simply it means any information about your business generate/obtain accurate information trust the information only after vetting process acting on wrong information can be...

Create a business plan Define your Mission Statement; Core Values Strategic Analysis (Strengths, Weaknesses, Opportunities and Threats) Create Budgets and Forecasts Document specific actions needed to achieve budget Execute the plan Be Accountable –...

Don’t fear change, but embrace it – look for opportunities Change is an inevitable part of life and of business E.g. of successful businesses that got left behind or re-invented themselves Kodak; Blockbuster; Record stores, book stores, Toys R Us;...

You have a great plan, but your business is still under performing: Identify the SINGLE most important thing that will make all other things easier or unnecessary  Focus on that SINGLE THING and execute  Repeat process  Identify the SINGLE most important...

Don’t Settle – find the best people who will be able to execute your mission with your core values – attitude and integrity is at least as important as the skill set Consider all resources when recruiting – do it yourself, staffing firms, head hunters...

All businesses are scalable, even those that are a “one-man operation” Identify limitations to growth of the business e.g. such as everyone deals with me e.g. not enough money  Develop strategy to address those limitations e.g. “clone” yourself by...