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Category Archives: Strategic planning advice

Business Plan vs Business Model Canvas – An Interesting Trend:

The creation of The Business Model Canvas tool was completed in 2010. If you are not familiar with it, you should be! Many benefits There are many benefits to using a Business Model Canvas: it’s visual, it’s easy to change your business assumptions and it provides a common language for team members from diverse backgrounds to communicate w... Continue reading

Help Your Accountant Help You – 3 Tips

Here are 3 tips to improve your relationship with your accountant for your business: 1)     Don’t wait for them to call you about a planning meeting. In a perfect world every accounting firm has unlimited time and energy to be proactive and think about your business and it’s future. In the real world, a lot of firms end up being reactive ... Continue reading

1 Tip – Managing Your Interest Rate Risk in Business

Depending on how much debt your business carries, your exposure to changes in the interest rate could be high or low. The best advice I can give about the future of interest rates: Don’t believe the fortune tellers! If your banker says, “ We don’t see interest rates rising for a couple years."  - Don’t believe him. If the media makes... Continue reading

Reducing the Dependence on the Business Owner – Succession Planning

There are a lot of small businesses in the marketplace that are doing just fine. If they are a first generation business, the founder owners are still the driving force in the business. When the business owner starts looking to the future from the position of current stability and prosperity, some common scenarios appear. Here are the common issue... Continue reading

The Power of Habit in Business

I just finished reading a good book about habits. The book is “The Power of Habit” by Charles Duhigg. When you think about it, business owners, employees and customers’ days are made up of millions of habits – most of them operating subconsciously. At our firm, part of any successful profit improvement strategy involves recognizing and chan... Continue reading

Succession Planning – The Most Important Advice

In doing succession and estate planning, it is important to work through various scenarios and timing of life events and plan for each of them. Sometimes we make assumptions about certain events that don’t turn out to be true. Succession planning tip:Count the living people as living! One example is three brothers who came to see me for busines... Continue reading

Business Strategic Planning & Inspiration

Having just recently returned from a conference and planning session, I am again struck by the importance of taking time for strategic planning. It seems that some business owners take more time planning for their day off than they do planning for their business's future! Stepping outside the day to day routine of business is essential for re... Continue reading

How to Hire Employees – 3 Tips

As a small business owner, do you have employee issues? Do you have a recruitment strategy? Employee issues tend be quite painful at times. When we start digging down to find the root of the problems, it often goes right back to the hiring process – or lack of a hiring process. Investing a little more effort at the beginning of the hir... Continue reading

Yes, Your Business Needs a Mission Statement

The purpose of a mission statement is to clarify and communicate what your business stands for. It states what you believe , and why. It should not be confused with a vision statement. A vision statement defines the future goals of the business. These goals can be updated and changed as your small business evolves. Your mission statement is who you... Continue reading

3 Ways to Make Time for Small Business Planning

I often talk with business owners who have a list of strategic planning ideas to work on. The problem is they are too busy to get to them! They are paralyzed by the constant demands placed on them from all directions. If this happens to you, consider the following three ideas. #1 - Make a 'Don’t Do' List Everyone has heard of a “to do” ... Continue reading