I’m a big believer in managing your business using your balance sheet first, then your income statement. However, simplifying that by using KPI’s (key performance indicators) can help you get a quick view of your financial landscape and determine your financial health at a glance. Here’s 5 KPI’s that every business owner should use. These…
Have you noticed lately that you have to spend more to get the top talent in your industry? There’s a war for talent out there and increased wages, signing bonuses and guaranteed commissions can really increase your cost of doing business.
We’ve all probably been watching the Olympics lately. Katie Ledecky won 5 gold medals and broke her own world record in the 800-meter freestyle. I’m fairly confident that what drove her achievement was a combination of talent and her dedication to training at a consistently high level. She may have been committed to being one…
We’re concluding a 4 part series on processes that affect your bottom line. We started with your sales process and then moved on to the production and delivery process. Today, we’ll be discussing your payment process. The goal here will be to look at ways to shorten cycle times, eliminate mistakes through improved processes and/or…
So far we covered how to improve your sales process and your production process. This week we’re going to talk about how to improve your delivery process.
Have you noticed the number of houses going up in certain parts of your area? Residential building is alive and well and the number of houses going up in my area continues to climb.
We’re starting a four-part series today, on the four processes that affect your bottom line. They are The Sales Process, The Production Process, The Delivery Process and The Billing and Payment Process.
You might be in a growth phase of your business. Growth always requires cash and cash is generally at a premium. Further, there are some traps to be avoided as you grow. Here’s 3 to watch out for.
John D. Rockefeller was a famous industrialist and philanthropist. He founded Standard Oil Company and became the world’s richest man controlling 90% of all in the US at its peak. His fortune at his death was $23 billion in today’s dollars. He was also well known for his generosity and donated over $500 million to…
Last week we did a deeper dive in to Shortening Cycle Times. This week we’re going to talk about how to eliminate mistakes. No matter what type of business you’re in, we’ve all made mistakes in our sales cycle, production/delivery cycle or billing/payment cycle. As we try to shorten cycle times, that means we’re going…
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