19 May

The Inevitable Business Exit; it WILL Happen. Plan For It.

 

All businesses experience a change in leadership or ownership.  All small business realizes this reality at least once.  Whether your transfer or sell your business you will inevitably exit it.  To exit your business in a way that is most favorable to you will involve more than you and you need a Business Exit Plan to make that change successful.   It will take multiple parties, different providers, to give you and your business the best outcome from your inevitable exit.  So what should you do and who should you involve?  Further, when is the best time to start the exit process?  When should you have an Exit Plan?

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17 Mar

Why Won’t You Work With Me?

A Leader, a Manager, a Consultant or Business Advisor have all heard that phrase before.  Usually from a frustrated person whom you have either refused to work with or who are experiencing frustration over your working relationship.  While in this article I will focus on the former, the lessons learned here can be beneficial in the latter.  So why are decisions made to not work with someone?  Why would they ask out loud or silently, “Why Won’t You Work With Me?”

 

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09 Dec

Business Tips – Bad For Your Business

 

While managing your business perhaps you have good advice from a knowledgeable business professional.  Perhaps you manage your business without any advice, or, perhaps you manage your business because you picked up on what you thought were great business tips from any one of a variety of sources.  How is that working for you?

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12 Aug

Need a Business Loan?

All businesses, whether they are just starting or they have been operating for some time, will ask themselves, “Do I need a Business Loan.”  For those trying to get their first business loan, the process can seem daunting, or, they think it’s as easy as going to your local Bank or Credit Union and applying for one.

Getting a loan is not an easy process.  Bank loans require a great deal of paperwork.  This can include:

  • Business Plan
  • Business Financial Statements
  • Projections for your cash flow for the next 12-months, or more
  • Some type of Guarantee from you and any other owners of the business

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05 Aug

Why Are You Reducing Your Prices?

You’ve seen it many times.  A business owner sees a competitor lower their price on a product or service and they then decide to lower theirs to the same or slightly lower price.  Little thought is given to what exactly has occurred beyond, “I have to meet or better the prices my competitors charge.”  In simple words, this is usually the wrong approach.

Price always equals value.  Further, when pricing a product or service your goal is to not only make a profit but even before that profit, it is to communicate what you offer to the marketplace while also identifying your business’s brand.  Lowering your price sends a message many do not consider, “if you can sell it for that lower price, why have you been selling it at the higher price?”

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