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Managing finances

Making room for opportunity

I have yet to meet a business owner whose day wasn’t full, whose calendar wasn’t overcrowded.  Yet as CEOs we’re all looking for the next product line, that new market penetration, the new … to drive our businesses forward.  How…
Business goal setting is important

Finding Your Five Most Important Things (MITs)

I recently took a walk on the beach with the owner of a mid-size company. During our time together, she made a comment about having so many things to do that she did not know what to prioritize or where to start. We stopped and I asked her,…
Vistage tips and tricks

How to build trust in virtual environments

We can’t rely on traditional approaches Research into the science behind human communication tells us that up to 90 percent of what we tell one another is nonverbal. In other words, most of how we communicate isn’t with words. It’s…
Selling a home mistakes

The 3 common mistakes business owners make when selling their business

“When it comes to exit planning and selling a business, all of the mistakes are made in advance.”  If this quote from Patrick Ungashick, President of White Horse Advisors and a Vistage International Speaker seems patently obvious…
Budget planning on a computer

The surprising reality about business plans

Why bother writing an annual business plan? Many successful business owners (and even some private equity managers) don’t know the real answer to that question. And because they don’t know the real answer, most…
Business strategic planning

Improve Your Business Forecasting

I have been asked multiple time recently “how do we forecast 2021, given the mess the pandemic created for my business, and the less than clear picture with all the potential variables?”.  Working with my Vistage members and clients…
Successful business team looking at camera.

How do you create value in your business?

In the previous post, I stated that the reason for writing one-year and three-year business plans is to create value, to increase the value of your business each year. The question then becomes, “What creates value?”  Why would…
Business connections

Three steps to prevent your business from being crippled by fraud

Just under 50% of small businesses will experience some form of fraud during the life of the business.  A National Small Business Association survey reports that, “Eighty-four percent of small-business owners are concerned about fraud…
Man holding out his hand

The high cost of price discounts

I was talking recently with a client who was 30 days from the end of her fiscal year.  She was determined to post a year-over-year increase in sales. “We’re pulling out all the stops!  I have every salesperson looking at every…
Hiring candidates can be hard

The most common mistake business owners make – and how to fix it

Do you know the most costly error businesses make on a regular basis? Poor hiring decisions. Every time you “get the wrong person on the bus,” it costs about 25% of the bad hire’s base salary to correct. And that doesn’t include…
Man working from home

The Genie is Out of the Bottle: Working From Home (WFH)

If you were not actively allowing employees to work from home before the pandemic, you need to plan now for their requests to do so when things return to more normal operations. This pandemic will dramatically accelerate WFH practice as…
Cash flow

Cash is king: tips to manage your cash flow

In a recent meeting of Vistage Chairs, the conversation turned to cash flow. We agreed that the economy has bottomed out and is beginning to grow. However, most small businesses continue to be challenged with cash flow issues. …
Quarterback playing in a football game

Communicate Like A Quarterback

How many times have you heard a football commentator say, “Boy, they sure weren’t on the same page of the playbook on that play!”? What are the chances even the best quarterback in the history of football would succeed if he just ran…
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