Take ideas and strategies that you think might only apply to bigger companies, and relate them to small businesses.
Many would be surprised to learn that there was little science to flight combat during World War I and II. In fact, the beginning of thinking of how to develop pilots into better pilots didn’t being until the 1950s. If it weren’t for the work of John Boyd, it may not have begun until several […]
How to Win in a Fighter Jet and in Business Read More »
I didn’t learn it on my first go around. I studied a lot about entrepreneurialism and small business. Like many, I read books, articles, and most whatever else I could find on the topics. However, what most missed on was the financial part of operating a business. Sure, most of these books talked about ideation,
A Quick History on “Paying Yourself First” and Why It Matters Read More »
Some might look at the title of this article and say “Oh ya, how do you know?” Odds are, you fall in one of those groups. How do I know…because as a number’s geek, odds say that the above statistics cover about 95% of private business owners. However, I get it…I really do. First, accounting
Your Accounting and Finances Could Be Better Read More »
Let me get this off my chest right away….most business owners stink at reviewing their financial statements. It’s not an intelligence thing or even a lack of effort. The cause boils down to three reasons: Whoever prepared the financial statement for the owner (i.e. bookkeeper) is so consumed with the process of getting the statements
3 Keys to Reviewing Your Financial Statements Read More »
I talk with a lot of business owners and most immediately dismiss a CFO. I hear it all… ”they are too expensive”… ”I am just a small business owner” … ”my business doesn’t have the need”. Honestly, all of those statements are flat out wrong. Businesses with a well-defined and executed strategy out-earn their peers
Real Talk about CFO’ing for the Small Business Owner Read More »
I have spoken with enough small business owners to know they don’t understand what role a Chief Financial Officer (“CFO”) would play in their business. Admittedly, the role is not as cut and dry as other jobs they most likely have filled in the past. Small business owners can tangibly see what a sales manager,
Why Your Small Business Needs Some CFOing Read More »
I don’t know a business owner that I have sat down with in the past that has said: “I have just the amount of customers I want.” Thinking about the prospect of that conversation actually makes me laugh out loud a little bit. Most small business owners are in fact constantly trying to figure out
An Easier Revenue Growth Formula: Building Your Ideal Customer Profile Read More »
In late July I was having drinks with an acquaintance, let’s call him Derrick, who is contemplating franchising his men’s hair salon concept. I was put into contact with him through a mutual friend a few months earlier. Since I had been heavily involved in franchising for the past few years, I was the first
Back of the Napkin Profit Growth Read More »
The ride-sharing company Uber had its initial public offering (IPO) in May 2019. Depending on how you calculated their valuation, the Company was worth between $75 and $82 billion. As I write this article on July 21, 2019, their current valuation is still around $74 billion. What made their IPO interesting was that a variety
Bid Ideas for Small Business: Scaling Your Small Busiess Doesn’t Always Lead to Profit Read More »
My first contact with a potential client is usually a quick introduction call. On this call, I love to learn more about the owner and their business. I pepper them with questions to learn how I might be able to help them most. Small businesses are fascinating to me and I love hearing owner’s stories.
6 Signs You Need An Accountant Read More »
