Archive | Small Business

Do You Really Have a Sales Process?

It’s a yes or no question, but many owners find it difficult to answer this question. “Yes, but it isn’t written” or “No, but our salespeople are so great, we don’t need one.” Having a sales process in place makes it much easier for sales managers and salespeople to work effectively. Selling is a complex process, […]

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Is Your Business Ready for CFO Services?

Business owners often come in confused about when to hire a CFO or outsourced CFO service. A common misconception is that there’s financial threshold for requiring CFO services; however, the complexity and frequency of transactions is a far more accurate benchmark. If any of the following sounds like your business, it may be time to […]

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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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How to Identify High-Profit Activities

Many business owners find it easier to identify what’s NOT working in terms of profitability. What tasks do you constantly find yourself trying to make more efficient? What is the constant office headache? For established businesses, it is common to add products and services here and there, but it’s less common to kill certain activities. […]

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cycle of business ownership

The Cycle of Business Ownership

According to a 2014 study, there are 4 types of business owners. Infusionsoft divided business owners into four categories: Freedom Seekers, Passionate Creators, Legacy Builders, and Struggling Survivors. While they identified these categories as personality types, it’s clear that these types are really just points within the cycle of business ownership. Business ownership is often […]

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Integrity

Most business owners are happy to give lip service to the idea of integrity. Many of us would say that we act with integrity in our businesses. Today, I’d like to take a closer look at what this actually means. Integrity derives from the Latin integritās, meaning “wholeness.” According to the OED, the definition of integrity is […]

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selling business

Selling your Business

Most business owners looking to sell their business have one of two goals. 1. Maximize value for sale If you’re planning on selling your business, it’s obvious that you’ll want to maximize the value of your business. You’ll need to manage your operations for value. You’ll need to ensure that the business is poised to […]

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time for CFO

Do You Need a CFO?

Clients often come in believing that there’s a financial threshold for requiring CFO services; however, the complexity and volume of transactions is a much better way to determine when it’s time for a CFO. External pressure from banks, regulators, or suppliers is another sign. Rapid growth also indicates a need for CFO services–the business will […]

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