Once your business grows to the point where you can no longer do everything by yourself, strong management skills are what separates a highly profitable business from the pack. Unfortunately, most business owners aren’t formally trained in how to properly manage a...
I’m constantly giving business owners tips on how to increase their profits. Once they understand that it’s time to take action, however, many of them ask the same question: “Well, where do I start?” And it’s an excellent question. What’s the right way to go about...
One trend that I’ve noticed with my client base over the past few years is that businesses are either enjoying immense success or just barely surviving. Those in the middle are merely passing through on their way towards success or elimination. I don’t believe that...
Starting a small business allows the business owner to pursue the American dream, support their family, and provide employees with paying jobs. At the same time, there are sure to be all kinds of mistakes, failures, and learning lessons that a first-time business...
Do you want to increase your business’s profits this year? Of course you do! But here’s the thing — you don’t simply stumble on higher profits. If it were that easy, every business would be profitable! Instead, you must be intentional about growing your company’s...
In March 2020, the U.S. government passed the CARES act — a bill designed to provide financial aid to millions of Americans and small businesses during the COVID-19 pandemic. The two most notable programs to come from this bill were the Payment Protection Program...
As a profit coach, one of the most common questions I get asked is, what if I fail? In fact, I was talking with a new business owner who was kind enough to elaborate on her fear of failure. “What will I do if this doesn’t work? I have young children, a mortgage, and...
Repeat customers are extremely valuable to the success of your business. How valuable, exactly? Well, the lifetime value of a customer is arguably the most important figure to know in not only your marketing plan but also your business profitability plan. As a...
In working with countless business owners over the years, I have found that every successful business has one thing in common — business plans. The successful business owner not only understands the importance of planning but also updates their business plan regularly...
As a business owner, you may have introduced the concept of credit terms in order to increase sales of some of your high-ticket products and services. After all, the prospect of ‘buy now, pay later’ can be appealing to an interested customer. Here’s the problem that...