Every business owner wants to improve cash flow and profitability. But many of us don’t know where to start or what to do. Often, we don’t know if the decisions we’re making are helping or hurting. We don’t know which levers we need to pull to improve profitability. It shouldn’t be so hard to run…
Every business owner has a big dream for their company and wants to make it happen. However, as the company grows and becomes more complex, business owners become unsure whether they’re hiring the right people and putting them in the right seats. Often technology or automation is introduced, which reduces headcount. There’s a need to…
This episode of ProfitSense features discussions on business banking, building a moving and storage company, and tenant representation in real estate. Bob King, First Horizon Bank, explains the nuances of borrowing for businesses and the significance of choosing the right bank. Eric Christensen from Bulldog Movers shares insights on building a reputable moving service and the importance…
Every business owner has a big dream for their business and wants to make it happen. The problem is that sometimes we hire people that don’t share our core values or core focus. These people may behave in a way that we don’t understand because it’s not who we are. It shouldn’t be so hard…
Every business owner has a big dream for their business and wants to make it happen. However, sometimes a lapse of curiosity can cause a company to fall from great to just good. It’s likely that it happens to all businesses at some point. But I believe adopting or re-discovering curiosity will put a business…
We’ve talked recently about the importance of having the right mindset and skill set in sales, along with how to work your way through the buyer-seller dance. Once you’ve mastered those, it’s important to look at your level of activity. I’ve sold professional services my entire career. First in banking, then in my coaching practice. Because…
The buyer-seller dance is a metaphor for the dynamic that occurs between buyers and sellers during a sales call. Both parties have their own goals and agendas, and they are constantly trying to influence each other. Who leads in the buyer-seller dance depends on a number of factors, including: In my experience, if we don’t…
Having success in sales can sometimes feel easier said than done. It takes hard work, dedication, and a willingness to learn and grow. It also takes the ability to overcome rejection and setbacks. I was asked by a former coworker in banking to provide sales training to their commercial bankers. Because I had run sales…
Every salesperson has a big dream of exceeding sales goals, making lots of commissions or incentives, and getting the recognition among peers and executives in their organizations. The problem is when the idea of sales comes up, many of us re-live the experience of the last time we went into the car dealership. We experienced…
What’s my business worth? In a recent study, business owners were asked what they estimate the value of their business to be. 10% didn’t have a clue. The other 90% answered in a wide range between $500,000 and $100 million. Further when asked how they arrived at that valuation, 2/3 answered that they had no…
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