Most business owners, at some point, will be asked to do a presentation in front of investors, bankers or maybe potential partners about their business. When you are ready to make that pitch and are possibly preparing a PowerPoint presentation, take a tip from Guy Kawaski, formally of Apple.
10 slides – 20 minutes – 30pt [Read More]
The end of the year is almost here! Now is the time to start the year end processes you should be doing to keep your business organized.
Here are a few ways to make the new year a little less cluttered;
Scan your receipts and invoices and electronically file them by month. Some office programs even allow [Read More]
It’s the twenty-third of the month and guess what…you missed the discount on your sales tax AGAIN! Every month it seems that you get just a little behind and miss one deadline or another. So what is eating away at your precious time?
Bookkeeping, unscheduled conversations, answering phones, and possibly picking up office supplies here [Read More]
Think of your Vision Statement as a picture of your company at some point in the future – maybe 2, 3 or 5 years. A vision is a way to articulate your dreams and hopes for your business while quantifying the expected results with a realistic “on or before date”. It reminds us of what [Read More]
Automatic withdrawals are great, no more forgetting to mail out a check or call the creditor with your credit card numbers. The drawback, however, is forgetting about how many of those convenient withdrawals you have and how much they are for.
If you have set yourself up with multiple withdrawals, keep a close eye on your accounts. Each month look at the bill your creditor has sent you and make sure you’re accounting for the corrected amount.
Setting yourself up with a little spreadsheet can also help remind you of the bills that are coming up.I like to keep information such as a contact phone number, website and sign in information on my spreadsheet. Remember, you can always password protect files and the computer the sensitive information is stored on. Read on for an example.
July 1, 2013 and that means we are half way through the year and how are your goals doing?
You have a goal in mind and you want to put it to action, only problem is the in-between. Getting to that goal requires teamwork and planning. Planning works best when handled by a team, a team works best when it has a good plan of action. If you are stuck on how to get from point A to point B in your goal, here are a few ideas to get you started: [More]
Did you know that 95% of business experience employee theft? It’s a horrifying feeling when your business experiences theft from the inside. The feelings of anger and guilt can eat away at you.
Preventing employee theft can be time consuming, but the costs and time involved truly outweigh the costs of having to recover from the theft. Here are a few ideas to keep your businesses money flowing where it should be.
• Policies and procedures
• Alterations of ANY photocopied documents
• Employees in close relationships with suppliers
• Inventory (including office supplies)
• Checks written to cash
Batching or grouping like tasks together in Lean processes is discouraged. Why? Because often when we group tasks, we end up not finishing anything. I’ve seen this on more than one occasion in offices where someone started cleaning the supply closet. Everything got taken out but an interruption happened and it was never finished and thrown back helter skelter into the closet. Typically, a project like this would be better done shelf by shelf or drawer by drawer or one flow processing; not batching. To decide if you will be more productive batching or not batching, try it yourself. Now, here is the challenge, identify in your office and life what enhances productivity by batching or not batching.
How do you identify some of the tasks as to Batch or not to Batch? How about invoicing? Or newsletter? Or laundry? Or cooking?
Flexibility in the work/life balance with your staff is vital when it comes to harmony in the office. Studies have shown that a happy, healthy and balanced worker is a more productive worker. Not to mention that your favorite worker will be less likely to look elsewhere in the future.
Flexibility for your business can be extra time off, working from home or leaving work a little early to avoid the rush hour traffic.
So how do you offer flexibility within your company and still keep the production high?
Even if your business is still young – less than 2 years old, knowing the answers to this questions will help you grow a profitable asset for your future. One of the most intimidating aspects of selling a business can be facing the barrage of questions during the various management presentations to potential acquirers. Start thinking about these now – you never know when opportunity will come knocking.
- Why do you want to sell your business?
- What is your cost per new customer acquired?
- What is your market penetration rate?
- Who are the critical members of your team?
- Who buys what you sell?
- How do you make what you sell?
- What makes your product truly unique?
- Can you describe your back-office setup?
Building your business knowing these answers, will help create an Asset for Your Future. Of course this is not an exhaustive list, but it’s a good start when you’re preparing to represent your company to your potential buyers. You can check you “sellability status” for your business with this 15 minute questionnaire at Get My Score