Your Business Is Just Like All The Others

You may hear a lot about how your business is different — what you bring to the table is unique. And I join in the chorus on that… You are Unique — just like everyone else. <wink> But, before you revel in your uniqueness, you need to understand how you are the same. WHAT? Your differentiation comes at the end of the process. Before that, you need to understand the commonalities. In the Dot Com Boom (mid-to-late 90s) savvy business people were asking the tech companies how they were going to bring in revenue, get paying customers, and make profits. … Continue reading

Making Money – What It’s All About

Is It All About the Money?In the Shark Tank television program, one of the “sharks”, who gives himself the nickname “Mr. Wonderful”, is fond of saying, “It’s all about the money.” And he seems to live up to that saying. If opportunity doesn’t make enough profit for him, he will pass on the deal… sometimes sharply criticizing the investment seeker for wasting his time… and everybody else’s. But is it really “all about the money”? Not for most of us. For most of us, the business is a means to an end. We have a reason for being in business… … Continue reading

Are You the Smartest Person in the Room?

Is your business suffering from “smartest person in the room syndrome”? You may have heard of this syndrome as it was used in the news reports referring to the Wall Street brokers and the financial meltdown resulting from it. Small businesses suffer from it, too. Many small businesses who have achieved some success have this problem. (Those who are still struggling sometimes have this problem… which is why they are still struggling… but most of them have a different problem. We will talk about them another time.) In fact, having some success is part of the problem for those afflicted … Continue reading

The Best Strategy for Your Business Is…

What’s your best strategy for growing your business? That depends on what stage your business is in. There are 3 stages we will talk about… and each has a different focus. Start-up Stage If your business is in the start-up stage, then your best strategy is encapsulated in the “fastest path to cash” idea. You are looking for the “low-hanging fruit” — the easiest and cheapest method to bring in immediate revenue. This is an excellent strategy for the start-up because it helps ensure that it will live long enough to grow into the next stage. (Most businesses fail because … Continue reading

Doing Business on the Edge of a Cliff?

I recently went to a potential client’s site and have lots of lessons to share with you. This is an $8 million-per-year (revenue) business with the potential for much higher. However, they also are doing business on the edge of a steep cliff and don’t even know it. Yet. I’m telling you this, so that you don’t have to make the same mistakes they have. Additionally, I see these kinds of mistakes in businesses all the time. You really don’t want your business to be one of them. Every one of the items below is easily the subject of an … Continue reading