My prospective new client today shared that in his opinion, acting like he is successful, is a necessary part of growing a business. I asked for the definition of successful and was told that it meant driving an expensive car, living in the right neighborhood, wearing expensive clothes and being seen at the right restaurants and social events. This same prospect is looking for a mentor to help him turn his almost break even business into a profitable one. My own definition of success (being … [Read more...]
Business owner, if you care, act like it………………..
June 17, 2013 By Leave a Comment
Businesses occasionally grow into mediocrity after the initial “start-up” surge has disappeared. I have seen this mediocrity stage in the life of a business last for many years. The tattletale signs are many; I find evidence of this when I first walk into a business. Whether it’s the business owner or a staff person that makes the first contact, the greeting lacks both enthusiasm and sincerity. Unfortunately it isn’t a disease that attaches itself to a certain size business; it … [Read more...]
How do you spend your life???????????????????
June 13, 2013 By Leave a Comment
Normally one is asked, “How do you spend your time?” It’s not a very bothersome question because we see time as being always available. Wasting a few hours here and there is acceptable. I want to look at the bigger picture. We are born, we live. Our body grows and then we cast off our worldly garments and our short, blink- of- an- eye stay on this world has passed. From a business aspect many of us have dreams that we will someday turn into action, but we have to wait until the time is … [Read more...]
Monthly income statements….a small business must………….
June 11, 2013 By Leave a Comment
The income statement is the score card of your business. It provides the owner with a status check of the company’s financial health. In plain English, the income statement reveals how much the company makes or loses each month. A score card is needed in most walks of life yet I find that the preparation of a monthly income statement is usually on the bottom of the “importance list” for many small businesses. The booking function is a “non glamorous” chore; it doesn’t bring … [Read more...]
Document everything……………
June 10, 2013 By Leave a Comment
All aspects of running a small business need to be documented. Documentation can prevent a lawsuit, can remind you of things that you need to finish, documentation shows your customers that you care and are on “top of things”. Documenting instructions to your staff and vendors make for smoother relationships within the company and avoids future misunderstandings, Running a business of any size is difficult, but for a small business owner who has to wear many hats, it is even more … [Read more...]
The power of thinking big……………..
June 5, 2013 By Leave a Comment
This afternoon I attended an event “Furnace” at ASU SkySong. It was a presentation by 10 new businesses, each of which had received $25,000 in seed money. The purpose of the presentation was for them to give us an update on their progress and what their current needs are. Each business spoke for about 5-7 minutes and each had a power point presentation, showing how much additional capital they had been able to raise, the current status of the business, and what strategic partners they … [Read more...]
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