Every CEO/business owner wants to maximize cash and profitability to maximize shareholder value. However, many don’t know where to start or what to do, which leads to confusion and frustration. It takes a guide with a plan to identify the hurdles getting in the way. Doug Tatum’s book, “No Man’s Land”, chronicles where mid-size companies…
Monitoring employee performance and holding people accountable makes many business owners uncomfortable. Many owners don’t provide job descriptions for their coworkers and spell out functions for each position. This leaves everyone confused and frustrated. Owners ask why this person doesn’t perform and employees are asking what does the boss expect them to do. Patrick Lencioni…
On this episode of ProfitSense, host Bill McDermott welcomed Mark Beal, CEO of Instead of Flowers. Mark discussed the story behind Instead of Flowers and how he came into his role, what makes Instead of Flowers unique, who his typical customers are, why a gifted meal from Instead of Flowers is received with such joy, and…
When it comes to delegation or transitioning decision-making to the next level of management, it can be difficult for business owners to let go or know where to start. The dynamics of a top executive team can make or break a company. John Maxwell said, “Teamwork makes the dream work, but vision becomes a nightmare…
As CEOs or business owners of a company, we have no time. The details of driving revenue higher, managing cash flow to meet obligations, marketing our firms, delivering high quality products/services, and handling the billing and accounting of our companies are immense and pressure-packed. But we have the same amount of time in a day…
Every business owner wants to make more money and maximize profits. The problem is many business owners don’t know how to manage the finances of their business leaving them confused, frustrated, and sometimes overwhelmed. They’re not sure if the decisions they make are helping or hurting. Every business owner deserves to have a business with…
For many business owners, it can be difficult to have the vision to see where they want to take their company, how they’re going to get there, or even if that’s the best path for them to take. This is a big energy drain going through various iterations of their company’s future, leaving them tired, confused,…
As a CEO or business owner, it’s hard figuring out what things to focus on, where to allocate our resources, and how in the world we’ll find the time to do it all. It can be overwhelming. When you’re paralyzed by all of these thoughts and tasks, it’s hard to be an effective CEO. I…
Every CEO or business owner has a big dream for their business and wants to make it happen. But how does a CEO sell/exit their business and ride off into the sunset with a sum of money that achieves financial freedom and a sense of contentment? A failure to plan leads to leaving money on…
CEOs are often bombarded with little voices in their ear asking, “Am I reaching the best markets?”, “Is my management team capable of taking us to the next level?”, “What about my business model?”, “What changes do I need to make?”, and finally, “Do I have enough money?”. There are only so many hours in…
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