Small Business

shutterstock_44530567

Small Business

Small businesses must make a big impact to compete. Using limited resources (people, time, and money) to maximum effect requires a very clear goal with a strategy for success and tactics you can execute. Building the team that supports your organization (employees, contractors, consultants and advisors) determines your success. Small businesses need:

 

Strong team of qualified people in place

Business plan

Budgets

HR/Legal advice

Accounting and financial reports that enable management decisions

Tax planning

Succession planning

A clear plan for marketing, business development, and sales

Targeted market segment (prospects and customers)

Consistent, unified brand message

Banking relationships

Articles and Podcasts

  • Organic or Cultivated Clients? Which Do You Want? (9/23/2016) by Lea Strickland - These days the term “organic” seems ubiquitous.  Organic has come to mean more than the traditional dictionary definition. In this instance, I want to talk about organic growth as it relates to a natural process that is without direct intervention or influence. Looking at that definition, let me clarify further. Organically Grown Let’s say you decide to open a retail store. It could be just about any retail product, but let’s say it is a clothing store. Now if you locate that clothing store next to a large retailer, say a grocery store in a shopping mall, you will have ...
  • Haste Makes Waste: Do It Right the First Time (9/21/2016) by Lea Strickland - Haste makes waste is a common saying. Another common saying is time is money. Time, like money, is always in short supply in organizations. Every moment is precious, so the question is: “If you don’t have time to spare, how do you have time to fix a problem when you did not have time to do things right the first time?” Now, I recognize that every person and business will drop the ball at some point. It is simply human nature that sometimes we will lose track of a commitment, have an accident, or Murphy’s Law will come into play. ...
  • Where is Your Business Located? Realist Road (9/14/2016) by Lea Strickland - Normally when I am writing about the location of your business, I am focused on the physical or virtual locations of the business. Today I want to focus on the mental or psychological location of your perspective on your business. In working with clients, the success of organizations is impacted by their leaders’ perspectives on events, opportunities, results, and the future. Leaders tend to locate their businesses one of three categories: Optismist Overlook, Pessimist Place, or Realist Road. Welcome to Optimist Overlook When you visit Optimist Overlook, the business may reside at the corner of WishfulThinking and Hope Is My ...
  • Strategic Plan: Your Five-Year Roadmap to Success (9/7/2016) by Lea Strickland - Too often, the owners of many businesses of all sizes and industries don’t see the need for a strategic plan. They make critical decisions on which deals to do, what systems to put in place, and who to hire based on the current vision of the business. They focus on the near term of the current year or at best the year to come. In the past month, I have met with non-profits and for-profits who have yet to even think about a budget for next year, let alone a five-year plan for their organizations. When pressed for revenue and ...
  • Is your Business Performance FINE? (9/1/2016) by Lea Strickland - Does your day start something like this? “How are you today?” “Fine.” This is a typical exchange that occurs for most of us daily. A variation is going to a networking event or business function and “How’s business?” “Fine.” But is your business really FINE? Financially strong, Increasing customer base, New opportunities to pursue, and Exceeding expectations. In today’s world, many businesses are fine, meaning simply “okay.” They are going along and if not thriving at least surviving. But don't you want more for your business? Wouldn’t it be great if you: Didn’t have to worry about having enough in ...
  • Business by the Numbers: Financial Oversight (8/24/2016) by Lea Strickland - Internal Controls and Financial Oversight When it comes to growing your business, you can't afford to not understand the financial perspective of their business. Whether it is the day-to-day performance, budgets, taxes, or other aspects of accounting for your business, you can’t afford not to do business by the numbers. Financial oversight cannot be fully delegated to employees or co-owners. You have to be in the numbers to monitor results. Unfortunately, for many small business owners, technology creators, and other innovators, the simple fact is that too few are trained on the ins and outs of the financial side of ...
  • It IS About the Customer! Know and Serve Them. (8/23/2016) by Lea Strickland - Whether our organization is for-profit, not-for-profit, or a government agency, what we do is about the customer. Sometimes we forget that. We get so caught up in "the business" that we lose sight of "the customer." What’s worse is that sometimes we aren't really sure who they are. A recent conversation with a marketing colleague centered on how many business owners and operators aren't clear just who their customer is. As a consequence, they don’t know where they need to focus their attention and efforts to reach them, and end up playing a guessing game: Is it the consumer? Is ...
  • Check Your Priorities: Real World Lessons Learned (8/17/2016) by Lea Strickland - Many years ago (I won’t say how many), I had a new boss (we’ll call him “Kevin”). He was actually my supervisor’s boss. Kevin had spent most of his career in communication roles (he created presentations and documents to give to the board.) When Kevin came from a part of the organization whose priorities were presentations (pretty ones) into the department I worked for he was coming into a working group that on a daily basis created transactions that enabled the business to produce products. In my case, I had double duty working with two different groups as their support ...
  • Looking Inside the Gig Economy with GigSalad CEO/Founder Mark Steiner (5/26/2016) by Adrian Bostic - If you are in the music industry or other creative endeavors (e.g., acting, speaking), then you have been living in a “gig economy”[1] for your entire career. Gigs have been around for centuries. However, the gig has come to a new level of visibility in recent years with technology platforms and economic shifts that have challenged businesses and talent not traditionally viewed as gigs to take a new look at how we do business. For those of us who live by the gig (yes, consulting is another type of gig), the biggest challenges are connecting our services, skills, and talents ...
  • 10 Elements of Successful Businesses (5/3/2016) by Lea Strickland - While every business has elements that are unique to it. Every successful business shares common characteristics with other successful businesses. Concept The first element of a successful business is a clear concept of what the business is and does. This concept is more than the idea for a product or service or technology. It includes and understanding that there is a market need and opportunity that seems to have the potential for profit. In the initial stage of defining your business concept you may not know the true market potential, but you have identified through observation, trends, or personal experience ...
%d bloggers like this: