Risk is always going to be present in any business. This risk, however, is inherently greater for a small business. Studies and research have shown staggering statistics regarding the failure rate of businesses falling into these categories whether a business is located in the U.S. or other international country. Even for those businesses still operating…

As an owner or manager of a small business, there will always be problems that need to be handled. Certainly, during these times of continued uncertainty due to the lingering effects of the COVID-19 pandemic, business owners and managers must know how to solve an immediate problem. Many times, the solution is a quick reaction…

Basketball coach Don Meyer is famous for something he calls “The Foxhole Test.” He encourages players to imagine themselves in a life-or-death battle and asks them to pick the teammates they would want in the trenches with them. The test is designed to break down the inevitable cliques and friendships that evolve on a team…

It’s not easy being a boss and managing employees. It’s even tougher managing in today’s business world dealing with the consequences of the COVID-19 pandemic…loss in sales, employee instability, and supply chain problems not to mention political issues, mandates, and new ways to operate. Owners and managers of small businesses might very well have to…

In the real estate business, agents refer to a home that has been renovated recently as “turnkey.” A buyer can turn the key on the front door and start enjoying the home immediately. Equally, a turnkey house is one that can be rented out without much fuss, making it a valuable asset to the real…

It might be an understatement to say that the global pandemic of COVID-19 has been a learning experience for all businesses large and small. Every type of business regardless of location has had to adapt to a changing environment, purchasing behaviors, supply chain problems, employee layoffs, and alternative approaches to operations. Businesses that survived the…

Conventional wisdom has it that first, you build the strategic plan including the Vision, the Mission, and the Focus Areas of the company, and then comes the operational plan. The latter connects the front-line projects with the long-term vision of the business. These are the two distinct steps to create a practical map of the company’s destination. However, this…

Your strategy is a living document. A work of continuous progress. Leave it alone for too long and it will rot. Nurture it and you’ll be rewarded. How? By applying this simple process improvement methodology to your strategic processes. Here is the truth. The old way of doing strategy with static tools and poor habits…

How well does your company run when you don’t show up for work? The answer to this question has a significant impact on the value of your business. Suppose your company could survive your absence for a while. In that case, you will score well on something we refer to as “Hub & Spoke,” one…

Traditionally businesses have operated on a need-to-know basis. People had access only to information that was deemed essential by their managers. Other “more sensitive” information was protected and hidden. Organizational transparency is the practice of sharing information regarding the organization’s operations with its people with the intent to create clarity, trust, and accountability. Lack of…

What’s your number? You know the one. It’s the amount of money you would have to be offered to sell your business. It can be tempting to imagine selling for an outlandish sum, but is that amount necessary for you to consider your exit a win? John Warrillow recently interviewed Cheryl Contee, the co-founder of Attentive.ly,…

Owning or managing a small business or SME is filled with challenges. The global pandemic made this abundantly clear. There are constant daily issues dealing with employees, customers, vendors, and cash flow. Generally, these normal occurrences are short-term in duration and can (or could) be handled fairly quickly with some degree of efficiency. On the…