Financial statements…every business produces them…or should. In most small businesses or SMEs, they are most likely prepared monthly or quarterly and certainly should be prepared more often than only annually. Of course, the more frequently financial statements are prepared, the better. During the current financial crisis caused by the global pandemic, financial statements can help…

Owners and managers of small businesses like to dream big. Of course, this is good. If they didn’t dream big, they would probably never be in management in the first place. Dreaming by owners and managers, or more realistically what should be goal-setting, helps their small businesses grow, prosper, and become long-term sustainable entities. Goals…

January brings all kinds of new thoughts, resolutions, and ideas. It is a fresh start. The slate has been wiped clean, and the canvas is ready to be repainted. For individuals, there are new dreams and aspirations to be achieved. For business, it’s the same. While individuals might travel down the same paths without much…

SCAMPER is an acronym used in creativity and Lateral Thinking to stimulate creative thought.  You can use the mnemonic SCAMPER not only for idea generation but to trigger different methods of improving processes. 1. Substitute – is there a customer who can also use the output of the process? Can we substitute one type of…

Although many small businesses can be quite large as defined by the number of employees (usually 500 or less in the U.S.) or by a combination of employees and gross sales in other countries, they may still be owned and operated by one individual or perhaps, a family or a few owners. And, of course,…

This is the time of year when people are setting their “goals” for 2023. So I thought I would republish one of my most popular posts. ————————————————————————– I don’t have “goals.” I don’t believe in “goals.” I don’t allow the people I work with to have goals. Wait – what? I don’t have goals? I…

I know a lot of business struggle with the “Three Uniques.” I have seen a lot of “uniques” that aren’t unique, or at least aren’t unique to their prospects (they might be the only family-owned HVAC company in town, but do customers really care about that?). I use a framework I developed called “The 3…

It is a common expression that small businesses are the backbone of any economy. To further elaborate, it might be said that micro businesses make up a large majority of the small business marketplace. These businesses might be described as owner-operated businesses with perhaps no more than five or ten employees. They generally start with very…

Every marketing and business development activity ultimately focuses on the following goals: make contact, start a dialogue, and sell. Personal networking, telemarketing, online marketing, email campaigns, and direct mail are all activities businesses can undertake to start interactions with prospective customers. With any of these types of marketing, knowledge, and skill are required for the…

Businesses operate in a highly competitive environment. A unique sales process can be a defining strength for a business as it competes with direct business rivals. A defined sales process aims to ensure buyer satisfaction and generate higher revenues.    The following five success methods can be easily adapted for any size business:  1. Standardize…

It is the time of year when many companies start planning their strategy for the following year. Unfortunately, much strategy planning is an exercise in futility – plans are shelved quickly and don’t address what needs to be addressed. Part of this is confusion over what strategy is – strategy IS NOT long-term or high-level…

An organization needs strategy tools that focus on more than just repairing weaknesses. The company-wide vision must also amplify internal strengths—both current successes and aspirational opportunities. A SOAR analysis can be the perfect strategic tool for future-focused goal creation. This framework can align present market opportunities with desired outcomes and growth targets. This guide will…