Wage inflation is alive and well. You have identified a need to raise prices, and you have decided that it is the best time to do so for your company. What can you do to ensure that the price increase is a success? The first step is to determine your new pricing. Some companies raise prices…
I hate wasted time. How about you? I always seem to have more things to do with my time than time to do them. I figure I could fill two or three lifetimes with what I would like to do—in business and for pleasure. It is that time of year where every good…
True story: No one in my family knows what I do. I have been married for more than 30 years, and my in-laws still do not know what I do. It turns out that they are not the only ones. The world of accounting and finance seems to be a mystery to most people,…
Before answering the big goal-related questions, you must answer a more fundamental strategic question about your business.
Using the company’s numbers, I did what I always do when I am seeking to understand the business story of a company: I downloaded a trended income statement from the accounting system. The marveling began as I read the business story.
The leaky boat is like a business with a problem retaining its customers. It costs a lot of money to acquire customers. Customers who leave prematurely can harm a business’s reputation. Keeping the customers that you acquire is a great way to grow revenue faster and increase net income.
For revenue, predicting the future starts with a system to monitor the journey of prospects becoming customers. But it does not end there.
Think about the power of being able to predict your financial results three, six, or even twelve months in advance. Read these reports to grow revenue
Have you considered what separates wealthy countries from poor countries? In large measure, it is the ease of business formation and growth.
It can be lonely at the top when you’re a small business owner. I’m one too, and I am writing this post so that you can work to live and not live to work.