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 »
I was sitting in a local chamber of commerce meeting this past February where the discussion topic was how to attract more young employees into the workforce. The businesses in this local community were having a particularly hard time finding people to fill all of the hourly wage jobs available. At the end of every
Flowers and Profits – How One Small Business Owner Manages Through His Bank Account 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 »
As a small business owner, I know that you have nights that you lay in bed thinking about how to increase the cash flow from your business or what your current bank account balance is. One of the most common questions I get is “How can I increase the profit from my business?”. The great
12 Rapid Fire Ways to Increase Profit in a Small Business Read More »
As a business owner, I know that profit can be somewhat a philosophical discussion. If you’re like some of the business owners I talk and work with, the profit you show at the end of the year often doesn’t correlate with the amount of cash the businesses generated for your pocket. Jim Culhane of Quality
What is Your Profit Formula? Read More »
Small business owners hate reviewing their financial statements. A combination of it being a reality check and the general disdain for numbers give owners heartburn at even the thought of reviewing an income statement. Small business owners generally don’t have an interest in accounting (only us weirdos do). Besides, most business owners know exactly where
The Business Owners Guide to Analyzing Your Small Business Income Statement Read More »
Tom and Alexis Leonard had dreams to be entrepreneurs. However, like most people, they were stuck at a point in life where they needed to live off of both of their incomes. Tom was an engineer whose job had little flexibility. Alexis worked from home as a sales rep for a wine distributor. After the
Big Ideas for Small Business – Budgeting for Profit Read More »
Wouldn’t it be great if you could get a sheet of paper each week or month that tells you at a high level how the four most important aspects of your business were going? Most small businesses don’t have regular scorecard reporting they use to run their business. This is a shame because just a
Big Ideas for Small Business: 4 Examples of KPIs for Your Scorecards Read More »
Too many small business owners are losing out by not using some of the data they have readily available. I am always surprised at how many small businesses are missing huge opportunities to learn about their customers from accounting, finance, and other data they have readily available. While small businesses certainly don’t have the amount
Big Ideas for Small Businesses: 3 Ways Small Businesses Can Use Big Data Read More »
