Many entrepreneurs may think they can start and run a business without assistance. The reality is that most small business owners can benefit greatly by using a business coach. Good coaching is not just for athletes! As American business executive Bob Nardelli stated, “I absolutely believe that people, unless coached, never reach their maximum potential.” … [Read More]
A small business owner may have many aims, but if those aims do not include and result in profits, no business will remain. As renowned auto industry executive Lee Iacocca said, “In the end, all business operations can be reduced to three words: people, product and profits.” One of the keys to achieving and maintaining … [Read More]
Operating expenses are a necessary component of running every business. Understanding how much money is required to keep a company running is critical to ensure its vitality and continuity. Additionally, controlling operating expenses is a factor in remaining competitive. As Sam Walton, founder of Walmart stated, “Control your expenses better than your competition. This is … [Read More]
Knowing the value of your business is important for many reasons, especially if you are looking to sell in the next few years. But you may be asking, “How do I determine the value of my business?” You should know a few things to help you figure it out. A business or enterprise valuation is … [Read More]
With all the effort that goes into creating, operating, and growing a business, planning is one of the essential drivers of success. Even a creative genius without a plan will find his/her efforts doomed. As former baseball great Yogi Berra said, “Without a plan, even the most brilliant business can get lost. You need to … [Read More]
Growth is critical to business survival and long-term success. As James Cash Penney, founder of the JCPenney Company, stated, “No company can afford to not move forward. It may be at the top of the heap but at the bottom of the heap tomorrow if it doesn’t.” He also said, “Growth is never by chance.” … [Read More]
