I don’t care how long you’re in business, it never gets easy to let someone go. Especially if that person is in a more senior position and you’ve just recently hired them. So how do you know it’s time to let someone go?
One of the most common questions we hear from business has to do with paying their people. More specifically with how to pay their people. What most owners are really asking here is how do I structure a compensation plan that is going to properly incentivize my team to maximize profits for our business.
Believe it or not, we’re almost six months into this COVID-19 pandemic. Needless to say, we’ve all absorbed a lot of changes over that time and more changes and adjustments are coming. Hopefully one of the nice side benefits of this current pandemic is that it’s making you more comfortable with making changes and trying new things.
At some point during your business life cycle, either you or someone else will ask you this question, “What’s my business worth?” The quick answer is it depends! It depends on a lot of factors. Some of these factors are things you can control while others are out of your control. For instance, you have some control over how you set your selling prices and control your costs, but you can’t control the overall industry growth or how your competitors act.
In the final part of our 3-part series on Marketing Channels we focus on the Passive Marketing Channels. In the prior two shows in the series we focused on the Short Term and Long Term Channels.
In part 2 of our series on Marketing Channels we focus on the Long Term Marketing Channels. These are the Channels that we all wish we had started months or years ago because, as the name implies, these Channels typically require a little more time to deliver some results. But that doesn’t mean they should be ignored.
Marketing. It’s one of those words that can lead to a lot of confusion and frustration, especially in the small business world! We often hear small business owners lament about needing more Sales. This usually leads into a discussion about their Marketing Plan since Marketing and Sales are intricately tied together.
There’s a lot of craziness in the world today. It’s to the point that it can literally drive you crazy if you’re not careful. One of the things we have been using for years to make sense of the world around us is Extended DISC. This assessment tool helps us not only understand our own behaviors better, but also those of the folks around us.
In This Episode With the spike in the unemployment rate early on in this COVID-19 pandemic many business owners were […]
We are already more than halfway into the year. So how’s your Profit Plan looking? Chances are, it’s time for an update. Especially this year! We know most small businesses don’t have an annual Profit Plan. Hopefully all the struggles we’ve all experienced with COVID-19 will change people’s minds on planning.