Most business owners went into business to do what they love and do what they are good at – and they hoped to make a living and improve the business’s value while doing it. Most started their careers as employees, so they tend to carry an employee mindset vs. that of an owner, entrepreneur, or …
One of the skills an experienced big mountain backcountry skier practices is testing the snowpack for avalanche risk. “I think it looks good,” won’t cut it. We have to pull out the shovel and test the pack to ensure we can venture down in a safe way. Otherwise, we risk life-threatening conditions and danger. “Where’d …
Four Things to Regularly Assess in Your Business Read More »
Great. Good. So-So. Bad. It’s been quite a year for all of us. As I look back on this year and think about my clients’ results – determining wins and losses with hard, comparable data on sales, margins, efficiency, and profitability – it is sometimes still hard to quantify a year as a great year, …
It’s the fourth quarter and your team has the ball on the 10-yard line. The score is tied with two minutes to go. Football is particularly exciting (or nerve-wracking) as the game winds down and the score is close. What happens in that last quarter determines who wins the game. The fourth quarter of your …
It’s that time of year again – the first half of 2022 is already over. We’re at half-time, just like in a football game. This is when the coach takes the team to the locker room to examine how they’ve performed so far, give some leadership inspiration, and reinforce the plan to regroup and outperform …
It’s time again for a quarterly review. The first quarter just ended. Check in to see how your performance is tracking compared to your goals. Do you need to rethink any goals or realign any projects? Are you on track with your financial forecast and the large projects you laid out last fall in anticipation …
Quarterly Review: Review. Reframe. Realign. Rekindle. Read More »
CEOs and business owners are under a tremendous amount of stress these days. Even if the business is profitable and has decent cash flow, leaders face uncertainties such as supply chain issues, inflation, difficulty finding staff, the potential of rising interest rates, the pressure of the board of directors to perform better and corporate taxes. …
How CEOs can Transform Financial Stress into Success Read More »
I work with many bankers and lawyers who call me when they have a customer or client whose company balance sheet shows they need help improving their business. The initial assessment takes about a week. We review the companies’ internal controls and backroom systems. Then we look at the historical financial statements, the current forecast, …
A report from IBIS World on business valuation firms in the US said 98% of business owners did not know the value of their company. The fact that most business owners don’t know the value of their business surprises me.
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What a year! We said that at the end of 2020 and as a business owner or executive, you’ve had your second-challenging-year-in-a-row. Finding good staff, dealing with supply chain delays, PPP loans, etc. Things have continued to change; I hope you’ve been able to adapt your business to thrive. Pandemic or not, it’s the time …