05 Oct

Only A-Players need apply

 

We’ve all heard this before.  “I only want A-Players on my team or in my company.”   We spend a significant amount of time looking for them, attracting them and assuming we are successful, retaining them.  Yet a small percentage of the labor force, actively looking or open to the possibility, are truly A-Players.  The biggest reason is because every other company is looking for them and trying to retain them too. 

So what do you do? 

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02 Oct

There is Hidden Profit in Your Business

 

As a small business owner, you are always looking for ways to improve your profitability. After all, being profitable means that those things which are important to you can be done and enjoyed. A home, college tuition, a cottage, boat or other “toys.” Right now you may easily have 7% or more of your sales that could become instant profit.

This isn’t smoke and mirrors, it isn’t an overactive imagination. These are real dollars that you are already spending that you shouldn’t have to spend…if you can improve some of your processes with the goal of seriously reducing or eliminating the waste of this money, you turn it into profit.

So where is this money hiding? Like many things, it is right there in front of you. It is the money spent on error and waste. Error is a mistake. Mistakes cost time and materials. Time and materials are money.  Examples of error are:

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26 Aug

Small Business and the Baby Boomer Generation

We are small business owners from the Baby Boomer Generation.  We aren’t as young as we used to be.  The oldest among us is about 71, the youngest is about 51.  We’ve worked hard running our businesses while raising a family, accumulating things and if we were successful, making money. 

So now what? 

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24 Aug

Is Your Business Wearing You Out?

 

I think it is quite obvious that anyone who has a small business wants that business to be successful.  The business provides them food, shelter, clothing.  It sends their children to school, provides the means for vacations with friends and family; it does a lot.

It is understandable that those who own small businesses put in a lot of hours, a lot of energy, and a lot of emotion into their business.  Why else would you own a business if not to work hard in it to gain the things you want that business to provide for you?

As I observe small business owners I see basically two types;

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21 Aug

Your Small Business and “Bankability”

 

A recent article by Paul Davidson of USA Today stated, “Lenders are tightening the credit spigots for businesses, raising concerns about an economy that’s already facing global headwinds and a rising risk of recession.”  Some small business owners, already facing challenges for growth and profitability will see the bad news that announcement will bring.  Doing what you can to improve your “bankability” will not only help your business but will also help you secure a business loan should you need it.

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