“Knowing how to read your financial dashboard is the key to survival. In my experience, 90 percent of people who start a small business have no clue how to read financials. That’s why most don’t survive. Most small business owners think it’s complicated, so they’re afraid of it. It’s really easy to teach people how to monitor what drives their business success.” Accounting for the Numberphobic – A Survival Guide for Small Business Owners. Dawn Fotopulos, Amacom, 2015.
Small businesses, mostly fail because of mismanagement, not because they have a terrible idea or the founders don’t work hard enough. Often, it is because owners fail to recognize one of the most critical required skills — the ability to understand their finances. I don’t blame them. They hear words like gross margin ratios, cash flow forecasting, and GAAP — and they cringe. You need to assemble the right experts to help you, but it’s equally important to know what your financial numbers mean.Continue reading “Learn How To Prevent The Number One Cause Of Business Failure”
Do you make lists, plaster your wall with sticky notes, or use Trello? Then you are already familiar with some basics of Agile project management.
What if I told you that Agile is a tested, proven method that can boost your productivity, increase the morale of your staff, and reduce employee turnover? You’d be interested, I bet!
Apple, Amazon, GE, British Petroleum, Target, Citibank, Spotify – are all successful companies which function within the culture and framework of Agile management. Businesses use various systems such as Lean UX, Kanban, and Scrum to become more productive and nimble than their competitors.
Has this happened to you? A friend raves about a new coffee shop on a street you drive every day. For a week you keep an eye out for it. Finally, walking and using your phone you find it. The problem? You couldn’t see the sign.
Not good! The decor’s attractive, the barista made a killer cappuccino, and this start-up even made a marketing plan. But they neglected their most significant 24/7 marketing opportunity- signage.
Seven hundred vehicles drive slowly by their shop every day plus a good number of pedestrians. They’re missing a chance to market to all these people.
7 Tested Tips for Effective Signs
1. Boost Your Business
The most important purpose for signs is to help potential customers see you and notice you. Doors, windows, sidewalk signs, hanging signs… let your imagination roam and check out this site for ideas.
“What is the most helpful small business book you’ve read?”
Recently, somebody asked me this question- and I had a hard time picking only one, but I chose Small Time Operator: How to Start Your Own Business, Keep Your Books, Pay Your Taxes, and Stay Out of Troubleby Bernard B. Kamaroff, C.P.A., Taylor Trade Publishing, November 2016.
As an entrepreneur, business is usually at least in the back of our minds, and since it’s early in a new year, I’ve been thinking about how I can encourage business owners. What can I write about that would be helpful?
How often do you read articles about the high rate of failure in small business? I’m tired of it. When I want to do something better I always find it more informative and helpful to see how people succeed rather than where they fail.
80% of Small Businesses Succeed
So, I want to talk about some of the issues you face as you pursue the work you love and what positive things can we learn from those who succeed. And to do that, I get to do one of my favorite things- talk to folks who are passionate both about what they do and how they do it. Continue reading “Be Inspired With True Stories Of Success”