When you first start your business, it’s important to “follow your gut” because you don’t have any track record and your numbers don’t point anywhere. Your “gut” is your true north. In the fog and confusion of a start-up, you need something “steady” to hold onto, and your gut instinct is as close as we…
We’ve been talking this week about the value of building a budget for your business — today we will do it. If you didn’t download my magic budget spreadsheet, you should do it now. My budget spreadsheet builds your profit and loss statement for the next year by predicting the sales and expenses for each…
On Tuesday we talked about my magic spreadsheet that helps answer all kind of questions for my clients. It’s like a crystal ball that reveals the future! But I have trouble getting clients to take it seriously — they frequently avoid engaging in creating one, and once built, it can sit unused. Why? Well, here’s…
What if I told you that I had a magic spreadsheet? What’s magic about it? It is like a crystal ball for your business–you can use it to see the future! My spreadsheet can tell you: All of that from one spreadsheet?!?!? Sounds pretty neat, doesn’t it? It is! It is one of the most…
Early in my consulting career, I noticed I worked very hard every day but did not make as much money as I wanted to. Not a great place to be on any level – especially as a single Dad raising children! So I took a day away from the business to think about this problem. One…
As we discussed on Tuesday, it’s almost impossible to balance supply (people) with demand (client work) in a service firm. So how do you grow your firm without going through that see-saw? Here are 4 ways to grow your business without adding more people. 1. Stop Overdelivering. Yes, if you ask them, your team will…
What if I told you that the job you’ve chosen as the owner of a service firm is to balance a see-saw? A see-saw between your staff and your sales. The way service firm businesses work is that if either end of the see-saw touches the ground your business has brewing problems. But, both ends…
This week we’ve talked about evaluating the performance of our team and having difficult conversations when needed. Now its time for the hardest evaluation question… Who has difficult conversations with YOU? Business owners wear a lot of hats! First and foremost, you are the CEO! You set direction, manage performance, and guide the business toward…
One business owner replied to last week’s email about courage with this question: My fear is I just don’t want to confront people and tell them they are fired which I’ve never done in my business. I remember watching The Apprentice and admiring the way Trump fired people. Back then, I was not even in…
I work with a lot of different businesses which means I get a ringside seat to all the ups and downs that business owners experience. And there’s no greater source of ups and downs than the nutty employee stories I’ve seen. You may think that you’ve hired some bad apples, and maybe you have, but…