Small businesses are not exempt from this requirement. In fact, it might even be rationalized that knowledgeable employees are more important in a small business than they are in a large enterprise because there is no redundancy of job functions. What doesn’t get accomplished by one employee in a small business might very well not…

One of the most resonant themes that we saw coming out of the Strategy Fest was how important understanding your customer base actually is. As strategists, we can often get caught up with preconceived notions as to who our ideal buyer is, and it doesn’t always match up with the real customers that are coming…

Many factors are involved in making a business successful, and many factors contribute to business failure. Two contributing factors to business stagnation or, even worse, business failure are lack of integrity and credibility. This is true for any type of business, any size, or any location. Integrity Integrity is the quality of being honest and…

Suppose you ever read about innovation or strategy in a textbook. In that case, you’ll find a myriad of wonderfully inventive frameworks, tactics, and theories that wax lyrical about how a business can craft and nurture the right strategic plan to take on the world. These are all carefully researched and draw on decades of…

Business fraud occurs everywhere. It happens in small businesses, large businesses, rural areas, metropolitan cities, startup businesses, established entities, for-profit businesses, or non-profit organizations. The perpetrator might be a Baby Boomer, GenX, or Milliennial. It doesn’t matter. Dishonest and/or desperate employees have no preferences or age restrictions.  Fraud Losses Fraud losses might be small or…

Section 1: Why Create Standard Operating Procedures What Is a Standard Operating Procedure? A Standard Operating Procedure is a set of instructions used to train and onboard your employees to complete a task. Standard Operating Procedures are the foundation of building a business that can thrive without you which gives you the freedom to work…

Businesses strive to achieve customer or client loyalty in numerous ways. This might be accomplished through: BrandingExceptional customer serviceHigh-quality products or servicesCompetitive pricingLoyalty programsSpecial salesEfficient operationsUser-friendly websitesStress-free access when trying to reach the businessFlexible payment plansCustomer feedback and suggestionsHonestyHassle-free problem solvingInquiries handled promptlyKnowledgeable and caring employeesPersonalized serviceBeing reliableFlexible and adaptableKnowing and understanding customer needsHaving a…

Businesses are always trying to figure out exactly how to price their products or services. Many factors are taken into consideration…supply and demand, fixed costs, competition, quality, projected gross profit as well as a unique value proposition. In addition to these factors, businesses sell benefits and solutions to customer problems. It then places a value…

Adding some recurring revenue to your business is arguably the fastest way to grow your company’s value. Recurring revenue is so crucial that it is one of the most heavily weighted drivers in our algorithm over at The Value Builder System. Investors pay a premium for certainty, which is one reason businesses with recurring revenue are so much…

If we’ve learned anything from the last 18 months, it’s that the world is much more uncertain than we could ever have imagined. The COVID-19 pandemic has forced businesses around the world to reimagine what their offering looks like in these crazy times, with many of them scrambling to pivot their organization in order to…

Why not? There is no reason to reinvent the wheel when the wheel has already been invented and works well. With the multitude of successful businesses located in any city or globally on the Internet, small businesses and SMEs have almost unlimited mentoring without even asking.  Successful businesses, CEOs, and owners frequently possess the same…

The benefits of journaling daily are well documented – journaling reduces stress, increases happiness, helps the journal writer connect to their emotions, etc. With that in mind, I decided to journal. I’ve tried every journal out there – The Gratitude Journal, The 5-Second Journal, The Freedom Journal – none of them worked for me. I’m…