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Tag Archives: business revenue

Understanding Your Customer Segments

A business growth strategy that is focused on a particular customer segment is the opposite of the 'one size fits all' strategy. One size fits all is the same as trying to be 'all things to all customers'. When we want to think strategically about the needs and wants of a particular segment, it is important to know how to define each segment. ... Continue reading

Establishing a Baseline for Business Growth

Measure your business activities and results properly and quantify your business growth Each of the following should be available to you for each month of the previous year as well as the total for last year: Revenue in dollars -          These numbers should be in your monthly income statement. If you don’t know them, ask you boo... Continue reading

Big Business Achievements – When to Reward Yourself

  There can be a tendency to celebrate short term business success too soon. Let’s say your business has a good month and you make a nice profit. Should you take a bonus? Should you reward yourself right away? Instant or deferred gratification? There is a philosophy out there that says to wait – to defer to the future. This is base... Continue reading

Growth Strategy for a Small Business

Have you ever heard the saying, ‘you need to spend a quarter to make a dollar’? If your business has the opportunity to purchase $100,000 worth of new product that can be resold at a 35-40% mark-up, why wouldn’t you buy it?  One reason you might not make the purchase is you don’t have an extra $100,000. Even if you have credit av... Continue reading

A Simple Solution to Small Business Cash Management Problems

I have a small business owning client who I consider to be the best at collecting money from customers. Quite a few years ago he actually went to jail trying to collect money from one customer because he tipped a desk over on him! – We don't recommend that approach! Have a conversation before the sale This conversation results in a few thi... Continue reading