“David,” my client asked, “How do we increase of volume? We’ve been struggling ever since we lost that one big account.” This is such a common situation for a professional services firm to deal with – a painful need to quickly grow revenues. Considering that for most professional services firm, whether they be a law…
How do you find the best places to focus your company’s limited time, attention, and money? Simple – go for the “Sweet Spot.” Here’s how. Every business has a “Limiting Factor” (capital L; capital F). Your company’s Limiting Factor is the single biggest constraint currently limiting your growth. It’s the one ingredient that, if only…
Would you like to know the two most important secrets to being disciplined with your use of time? The remarkable thing is that they don’t require willpower. I understand that most business owners shudder when thinking about a need for greater discipline because they’ve always associated it with pain and effort. But if you can…
Finding the perfect vendor for your next project can not only be a challenge but also extremely time-consuming. After weeding through the hundreds, even thousands, of companies in the industry, you narrow it down to the top 20 to 30 candidates. You then reach out to each vendor, set up a discovery call, explain what…
If this year has taught us anything, it’s that the way you do business can change at the drop of a hat and as business owners we have to be prepared for whatever comes next. This is particularly true when it comes to strategic expenses such as your marketing efforts. Which is why I suggest…
Small-business owners across the country have sought out emergency loans or funding to help cover their expenses during the Covid-19 crisis. Many businesses have received their funds, and may be wondering how best to use their existing funds and credit lines to stretch them further. If you missed out on the Paycheck Protection Program funding, you…
Fifty percent of all fraud attempts were due to poor internal systems and controls, according to the Association of Fraud Examiners 2018 report. And the findings went on to conclude that most fraud schemes lasted a median duration of sixteen months. Which means the majority of those stealing from their employers had been with the company…
As the end of the year quickly approaches, a lot of our business coaching clients are busy planning for the new year. They are looking at their systems and controls, their strategic depth and their talent bench to see where they need to make adjustments for the new year. And like many of you reading…
Despite your best efforts to recruit and hire the best job candidates on the market, chances are they may no longer be with you twelve months down the line. It’s just the reality of being a small business owner. Not only is this time-consuming and frustrating, but it costs you a lot of money and…
Just the other day I was thinking about a business owner that I had coached several years ago. Since he may read this column, I will call him Terrance (not his real name). Terrance owned a seasonal hospitality business in southern Utah and worked eighty plus hours a week, every year from May through October….