Tag Archives: small business profitability
The Lean Startup – Pivot or Persevere
I just finished reading one of the best books I have read in a long time – The Lean Startup by Eric Ries. Although the context is for a startup business, it is just as relevant for an established business that wants to innovate. Continue reading
Instant or Deferred Gratification?
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? Continue reading
Pricing Strategy
Are you pricing to the 10% of customers that are never happy? You tend to hear the 10% crowd loud and clear when they complain, but forget that the other 90% are happy. Continue reading
Lifestyle Business or a Scalable Business?
The approach necessary to build a scalable business is different than a lifestyle business. Continue reading
Rent Some Money to Make Some Money
In business, have you ever heard the saying, ‘you need a quarter to make a dollar’? Money is cheap to ‘rent’ these days. Continue reading
Economic Update – Quick and Informal
I am fortunate that my position as a business advisor allows me to observe how business is going across a number of industries. Many recent events are quite encouraging! Continue reading
Discounting Your Price or Value Add?
If you give someone a ‘deal’, you could sell more than if you didn’t – But instead of giving a discount on price, have you considered adding value instead? Continue reading
Increase Profits by Learning to Say ‘NO’
Some business owners have trouble saying NO for various reasons, and this often costs them financially. Learn how to increase profits by saying, ‘NO’! Continue reading
Should Your Business Offer a Guarantee?
When you provide a guarantee, you remove the risks to the potential purchaser and make it easier for them to buy from you. Here are 5 tips to developing a great guarantee. Continue reading
A Simple Solution to Small Business Cash Management Problems
I was talking yesterday with a client who I consider to be the best at collecting money as a small business owner. 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! Continue reading
