For some businesses, inventory can be one of their largest assets and/or their largest expense. Poor inventory management can make or break a bottom line. Below are some benefits of proper inventory management: Improves cash flow: Purchasing inventory decreases cash. When inventory sits on the shelf too long it is basically cash not working for you. [...]
“When you argue with reality, you lose, but only 100% of the time.” – Byron Katie Optimism and financial data are both double edge swords. Too much of either is a slippery slope. Excessive focus on optimistic predictions can lead to poor decisions and, as a result, financial challenge. Excessive analysis of financial data can lead [...]
Congratulations, you have done it!!! Your business is taking off, and the demands on your time have taken you to the point where you no longer have the capacity to manage all aspects of your business, specifically adding top line revenue growth at a meaningful rate. To take your organization to the next level, you know [...]
Optimism is essential for an entrepreneur. Your ability to see possibility propels you into business. In tough times, it is what keeps you in the game. As an optimist your attention is on tomorrow, on the next opportunity, on the next win. When reality conflicts with your optimist view of the world, you choose your view. [...]
“When you argue with reality, you lose, but only 100% of the time.” - Byron Katie Optimism is essential for an entrepreneur. Your ability to see possibility propels you into business. In tough times, it is what keeps you in the game. As an optimist your attention is on tomorrow, on the next opportunity, on the [...]
Entrepreneurs are born with a “Fire Now” gene. The Ready and Aim of it all is lost on us. The good news is we are wired for action. The bad news is we often fail to think through the unintended consequences of our action or take the time to gain consensus with our team. Some of [...]
The concept of garbage in, garbage out is used in computer science when flawed, or nonsense input produces nonsense output or “garbage”. I use this phrase a lot when I am working with clients on analyzing and improving accounting procedures. If you do not have the proper procedures in place you will not get the data [...]
It is easy to talk about accountability and responsibility when it relates to others. When you turn the mirror on yourself, it can be painful. Our cultural norms are to look outside of ourselves. For validation, for blame, for comparison, for finding our place in the world. But the power shift comes when we begin to [...]
It is easy to talk about accountability and responsibility when it relates to others. When you turn the mirror on yourself, it can be painful. Our cultural norms are to look outside of ourselves. For validation, for blame, for comparison, for finding our place in the world. But the power shift comes when we begin to [...]
We are a society obsessed with finding a “good deal”, which is why customers today place such a heavy emphasis on pricing. This leaves the business owner with plenty of questions: What should I charge? What profit will I achieve at $x price? How much is too much? Pricing has traditionally been reliant on a more [...]