Archive | Business Management

Painlessly Improve Profitability: Operational Levers

Profitability is often overlooked, yet it is a critical measure for any business. Other items like gross sales and revenue sometimes overshadow profitability in owners’ minds. When they do consider profitability, owners often respond with measures that are ineffective, getting caught up in counting pencils—cutting small costs in one-time or infrequent processes. Usually, it’s the […]

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The Family Business and Your Adult Children

Family businesses account for about 30% of all small businesses according to the 2009 census data. Owning and operating a family business poses unique challenges for everyone involved. Each unique relationship poses a new set of concerns. For this post, we’ll focus on parents working with adult children, assuming the parent(s) runs the business. Sibling […]

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Getting a Bank Loan

Before getting a bank loan, figure out how much money you need. You might need a loan to expand to a new location. You’ll need to look at all the possible expenses involved: land acquisition or construction costs, cost of renovating a new space, costs of furniture, equipment, and inventory. There will be moving costs […]

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Measuring What Matters

Awhile back, Chip Conley gave an excellent TED talk called Measuring What Matters. It’s a great talk about how he runs his business according to his beliefs about the importance of the intangible–things like customer and employee happiness. It’s definitely worth watching or even re-watching. Here are some questions for your business, inspired by this TED talk. […]

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