Management

Profitability: The Top Line; The Bottom Line

»Posted by on Aug 17, 2011 in Business Financial Planning, Business Growth, Growth Strategies, Management, Sales & Marketing, Sales Training | 0 comments

Before a business has a bottom line (profit), it must have a top line (revenue). Sales and marketing generate revenue; cost controls and performance measurements (metrics) determine the profit. In tough economic times, business owners discover that the first thing to suffer is the top line – sales.  They can cut costs and measure results until the cows come home, but they will not have a good bottom line without a strong top line. Integration of marketing, sales, cost controls, and performance measurements are necessary to foster profitability for any business. To make sure profitability is a rising...

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Do You Want To Sell Your Business or Just Sell More Business?

»Posted by on Aug 14, 2011 in Business Growth, Coaching, Management, Sales & Marketing, Sales Training, Selling A Business | 0 comments

I’m often asked, “Harvey, what do you do?” My answer is, “I help people sell their business, and I help people sell more business.“ That may sound strange, but it isn’t.  More than 80% of businesses cannot be sold for any price, not even by skilled business intermediaries. The main reason they cannot be sold, is their sales volume isn’t large enough to attract a buyer for the business. Many businesses don’t even have a salesperson, much less a sales manager. Those businesses are dependent on customers walking in the door, calling on the phone, or sending an...

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4 Ways Outsourcing Leverages Your Resources

»Posted by on Aug 7, 2011 in Business Growth, Growth Strategies, Management, Outsourcing | 0 comments

  One of the least utilized tools available for growing a business is outsourcing.  Outsourcing is when you take a function, activity, or need of your business and hire an outside company to do the work instead of doing it in-house. This includes: contracting with a fulfillment company to stock and ship your customer orders; hiring an online marketing company to do your pay-per-click ad campaigns; turning over your payroll to a professional employment agency; and so on.   You avoid:  Hiring large numbers of new staff; Investing in new capital equipment or leasing larger space; Investing in...

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6 Financial Problems All Business Owners Face

»Posted by on Aug 3, 2011 in Business Financial Planning, Business Growth, Management | 0 comments

Knowledge of the financial needs and problems that face a business from time to time could mean the difference between growing and closing your business forever. Successful business owners understand, anticipate, and mostly avoid financial problems, but they also know how to repair the damage when problems do occur. Insufficient or No Financing Cash for a business is like blood for the heart.  Without a constant flow, you’re in trouble.  Businesses need money continuously. Whether you use investors to raise money or obtain business loans, underestimating your cash needs is a critical. Determine how...

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How To Survive Current Economic Hard Times

»Posted by on Jul 27, 2011 in Business Growth, Coaching, Management, Personal Development, Sales & Marketing | 0 comments

If you are experiencing a significant downturn in business, remember: you win when you get up one time more than you get knocked down. To survive a difficult period, we need more than skills.  We need the capital, the time, and a plan.  Practically every successful business sprang from a plan that was created in response to uncertainty or difficult times. Today, uncertainty is all around us.  No matter how frightened you may be about the seriousness of your business problems, you are not alone.  You can pull out of your situation with such power and grace that your competition, your lenders, your...

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What Is Business Exit Planning?

»Posted by on Jul 26, 2011 in Business Growth, Exit Strategy, Management | 0 comments

There are two ways you could exit your business: voluntarily or involuntarily.  One way or the other, someday you will leave your business.  With good exit planning, either can be done profitably and with ease. I believe your first goal should be to decide if you wish to leave your business at all.   Many business owners prefer to work as long as they can.   Others want to work until they can just step aside and passively own a well-oiled, smooth running business, leaving day-to-day operations to others.   Either can be down with proper planning.  Preferably with plans that include the flexibility...

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