Recent News & Blog / General Business Advice
At the very least, update the financials in your business plan
Every new company should launch with a business plan and keep it updated. Generally, such a plan will comprise six sections: executive summary, business description, industry and marketing analysis, management team description, implementation plan, and financials.
Deciding whether a merger or acquisition is the right move
Merging with, or acquiring, another company is one of the best ways to grow rapidly. You might be able to significantly boost revenue, literally overnight, by acquiring another business.
6 ways to ensure your marketing plan drives sales
Love and marriage,” goes the old song: “…You can’t have one without the other.” This also holds true for sales and marketing. Even the best of sales staffs will struggle if not supported by a well-researched and carefully executed marketing plan.
Does your team know the profitability game plan?
Autumn brings falling leaves and … the gridiron. Football teams — from high school to pro — are trying to put as many wins on the board as possible to make this season a special one.
How to research a business customer’s creditworthiness
Extending credit to business customers can be an effective way to build goodwill and nurture long-term buyers. But if you extend customer credit, it also brings sizable financial risk to your business, as cash flow could grind to a halt if these customers don’t make their payments.
For best results, start your strategic planning early
Time flies when you’re having fun — and running a business. Although it’s probably too early to start chilling a bottle of bubbly for New Year’s Eve, it’s certainly not too early for business owners to start doing some strategic planning for next year. Here are some ways to get started.
Putting together the succession planning and retirement planning puzzle
Everyone needs to plan for retirement. But as a business owner, you face a distinctive challenge in that you must save for your golden years while also creating, updating and eventually executing a succession plan.
4 tough questions to ask about your sales department
Among the fastest ways for a business to fail is because of mismanagement or malfeasance by ownership. On the other hand, among the slowest ways is an ineffective or dysfunctional sales department.
Dashboard software helps you keep your eyes on the prize
Like most business owners, you’ve probably been urged by industry experts and professional advisors to identify the most important key performance indicators (KPIs) for your company. So, just for the sake of discussion, let’s say you’ve done that.
Is it time to hire a CFO or controller?
Many business owners reach a point where managing the financial side of the enterprise becomes overwhelming. Usually, this is a good thing — the company has grown to a point where simple bookkeeping and basic financial reporting just don’t cut it anymore.