Did you ever wonder why one business has buyers lined up willing to pay top dollar while another sits on the market for months, or even years? What do buyers look for in a prospective business acquisition? The characteristics buyers seek must exist before the sale process even begins. It is your job as the owner to create value within your business prior to a …Read More
It’s well known that the small business failure rate is very high (some statistics count it as high as 70% within 5 years). The stats below (Source: statisticbrain.com) indicate a 55% failure rate within 5 years and highlight some of the key issues and pitfalls that cause the failure. In most cases business owners are operating on their own, without the benefit of a …Read More
Most every day we work with business owners helping them create business plans. As advisors, we know that business owners who create business plans are able to react more quickly to new events—events of the past few years in this economy and this world come to mind—than can those without.
Unfortunately, even owners who have business plans fly without Exit Plans, co-pilots, or maps …Read More
Tax laws change every year, and it is important to be aware of those changes. 2013 in particular has brought changes that have been widely discussed in the media. Some of these changes can mean less money in your pocket at payday, so being informed of that ahead of time can help you to prepare and budget accordingly. Here are some new tax laws to …Read More
If you need proof that it takes more than a cool idea and a couple of seasoned entrepreneurs to launch a successful startup, look no further than Poppin. Founded in 2009 by fashion mogul Chris Burch (his ex-wife is Tory Burch) and Bluefly.com founder Ken Seiff, Poppin brings high design, fashion sensibility and brilliant splashes of color into the ho-hum world of office supplies. Think …Read More
G = Goals Most entrepreneurs understand that setting goals for their sales team is important because it helps to measure their performance. But in reality there is much more to it than that. Setting realistic goals, that can be achieved, is also an important motivator for your sales team. Sales people by their nature are competitive. Reaching quota, ranking high versus other sales people, and …Read More
Recently an article appeared in USA Today written by well known business author, Rhonda Abrams, posing this question. Apparently, there is a growing feeling in some circles that a well thought out Business Model can easily suffice for a Business Plan. Ms. Abrams does not agree and nor do I.
First, it is important to understand the difference between a Business Model and a Business …Read More
Well, have you started to focus on how to make your sales force more effective? It has now been a little more than thirty days since I started this blog. If sales force development is still stuck on your “Things To Do” list, it id definitely time to get moving! Here are the next letters in our move toward Z:
D = Demonstrate
Whether you …Read More
Too often, owners discover that the compensation plans they’ve put in place for key employees are sadly inadequate only when those key employees leave their companies for greener pastures. The departure of one or more of these key employees can not only complicate your daily business life, but it can slam shut the door on your exit plans. Without experienced management in place, it may …Read More
One of the greatest problems for every business owner is trying to get their staff to be more productive. So how do you go about getting more out of your employees? Here are several tips you can do to help them:
Make sure that your staff members have all of the tools they need. One of the greatest hindrances to productivity is a simple lack …Read More