As soon as profits begin to slide, the first thing that comes to mind for many business owners, managers, and CEOs is to lay off employees. The philosophy, obviously, is that reducing employees is a quick fix to the bottom line. It must be remembered, however, that employees are the heart and soul of any…

Every business owner, manager, and salesperson should ask this question after every sale, “Am I going to get repeat business from this customer?” Long-term growth and success for a small business are not just based on current sales but on repeat sales that build upon new, current sales. A foundation must be built, enabling sales…

Everyone in the world is in the midst of one of the biggest economic downturns of all time. Almost all businesses are affected in one way or another. Although some online businesses and suppliers of critical needs and healthcare products might be prospering, most other businesses are feeling the sting of the global pandemic. Due…

A one-off sale is good for business, but repeat sales are even better. And, where do repeat sales come from? They come from loyal customers regardless of the type of business. Repeat sales build a strong foundation for a business allowing it to increase in size each year. Since there will always be a certain…

Small businesses are in constant need of improvement. Rarely is there a business that cannot be improved in some way. Sales are stagnant or even declining. Expenses are increasing. Loyal customers are going to the competition. Something is not exactly right but you just can’t quite put your finger on it. On the other hand,…

Do you know what your competition does, how it markets, and its strengths and weaknesses? If you don’t know, you should know. Obviously, you should know everything there is to know about your own business, but it is vitally important to also know as much as possible about your competition. Be Prepared You are at…

What is Strategic Project Management? Strategic Project Management (SPM) defines how a project may benefit a company’s efficiency and strategic plan as a whole. It is the process of thinking about your Projects in light of their connection to your strategic plan. In other words, Strategic Project Management is about forming clear links between your Projects and Strategic Objectives….

https://thepodcastfactory.com/rlp-103

Solid growth in a small business does not happen by accident. It is planned growth that creates solid growth. Similar to many large, highly organized businesses, a small business must plan not only for the very near future but for the intermediate future, as well. While large, publicly-traded corporations with highly specialized financial employees can…

Sometimes, you might get a hint that your employees are not satisfied with their jobs. It might be how they act at work, a rumor you hear from other employees, or a comment an employee might even tell you outright that they are not pleased for one reason or another. As a leader, you must…

VRIO Analysis Overview Like most organizations, we’re always striving to find a competitive advantage that propels us in front of our competitors. But, even when you create a competitive advantage, oversaturated markets and technological advancements mean it’s never long before competitors are able to replicate your competitive advantage. A sustained competitive advantage is a holy grail, and…

In most marketing campaigns, there will very likely be a number of marketing components all working simultaneously to achieve one or more objectives. These components might include different types of advertising, a website, email campaigns, social media, pay-per-click, or even something unique that the business has never tried before. With so many different components in…