Critical Ratios You Must Track In Your Business For Success
Your monthly financial statements tell you a story….in the language of numbers… Every business has three main financial statements: The Balance Sheet The Income Statement The Statement of Cash Flows The Balance is the main statement. What? Not the Income Statement?...
9 Principles of Managing Accounts Receivable
Selling something, whether a product or a service, and not getting paid is brutally painful. Sloppiness in your billing process will cost you. The ultimate cost is not getting paid. As I have written about many times before, the cost of a bad debt is more than the...
7 Essential Secrets to Build a Business That Works – Part 4
The last three weeks I have written about the first five essential secrets to build a business that works… To recap: Essential Secret Number One – You Must Have a Vision Essential Secret Number Two – There Are Only Four Ways to Grow a Business Essential Secret Number...
7 Essential Secrets to Build a Business That Works – Part 3
The last two weeks I have written about the first three essential secrets to build a business that works… To recap: Essential Secret Number One – You Must Have a Vision Essential Secret Number Two – There Are Only Four Ways to Grow a Business Essential Secret Number...
7 Essential Secrets to Build a Business That Works – Part 2
Last week I shared the first two essential secrets of building a business that works… Secret # 1 is Vision. Without Vision, your business perishes. It is like a vehicle or house built without any design. Secret # 2 is that there are only four ways to grow a business....
7 Essential Secrets to Build a Business That Work- Part 1 of 3
Over the next 3 weeks I will be sharing with you 7 Essential Secrets to building a business that works… Works for who? Works for you, sometimes the least focused on person(s) in a business. You do not need to be a slave to your business. With focused, intentional...
Framing – A Powerful Linguistic Tool to Shape How People See Your Business
What is framing in linguistics? Here is an online definition – “framing is a process whereby communicators, consciously or unconsciously, act to construct a point of view that encourages the facts of a given situation to be interpreted by others in a particular...
A Simple Technique to Create Prodigious Productivity in Your Work
I love simple things. How about you? Design may be complex in its underlying dimensions. Yet when it has that look and feel of simple elegance it comes across like poetry in motion… When it comes to being more effective in my business, I am an advocate of intense...
Powerful Game Changing Ratio to Monitor in Tough Times
An often-overlooked ratio to track is a combination of three other ratios… Once you calculate the other three you simply add the three to get this Turbo Ratio that I recommend all businesses with accounts receivable and inventory track. So, what is it called? It is...
Fixed Cost Creep Can Wipe Out Your Profits
Fixed. Quite the word, isn’t it? What images does it bring up for you? For me, it brings up images of unchangeable, immovable, solid, stationary, set. Fixed costs are necessary. Or at least you thought they were necessary when you incurred them. And why did you incur...