Cash is to a business what oxygen is to a person. A business can’t “breathe” without it. 80% of businesses fail within the first 5 years in business and the number one reason is a lack of cash (capital). But the lack of capital is not the cause. Many businesses need sufficient cash to figure…
Every business owner wants to build their company with big profits and good cash flow. But when it comes to how, many owners don’t know where to start or what to do leaving them confused, frustrated, and sometimes overwhelmed. There are only so many hours in the day. Every CEO/business owner deserves a growing business that…
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…
Nancy McGill, Cartridge World Lawrenceville; Neeli Shah, The Law Offices of Neeli Shah; and Karl Barham, Transworld Business Advisors of Atlanta Peachtree On this episode of ProfitSense, host Bill McDermott welcomed three accomplished business leaders. Nancy McGill, Cartridge World Lawrenceville, discussed Nancy’s 2022 Gwinnett Chamber business award, the upcoming 20th anniversary of her business, what differentiates…
Every business owner wants to grow their business. However, many business owners don’t where to start or what to do. Growth for “growth’s sake” is not a good strategy. But, achieving scale is. Achieving scale is where you can consistently achieve revenue growth on a relatively stable cost or asset base. In other words, the…
Every business owner wants to make more money and maximize profits. The problem is many business owners don’t know what they should be paying attention to. They aren’t sure if the decisions they’re making are helping or hurting. Often, they’re confused, frustrated, and sometimes overwhelmed. Every business owner deserves to have a business with a…
What makes an excellent CEO? It’s a question that’s often asked, but seldom answered. As with anything, it starts with mindset first, then skill set. We’ve talked recently about the importance of CEOs having a direction-setting mindset and being bold, and an organizational mindset where they create strong culture and stable, but agile companies. Once…
One of the topics I talk about most with business owners is accountability. Each situation is different, but rarely do I have a client that doesn’t struggle with accountability at some point over the course of owning their business. One client right now has run a very successful company for over 48 years. But when…
Business owners dream of growing their business and making it the best it can be, but oftentimes they struggle to follow a unified strategy to get there. They’re unsure which areas to focus on to have the biggest impact and are left confused and frustrated. Profitability, not profit, is a key ingredient to a successful…
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