Applications for new businesses have increased over the past year. This is good news, as small businesses drive our economies and bring growth to our communities. But starting a new business isn’t an easy road—22% of small businesses fail within the first year, and 50% fail within the first five years. And with so [...]
Management and employees at every level of an organization use data every day to make decisions, and we now have more information at our fingertips than ever before. For organizations to be truly agile and proactive, it is essential for leaders to have accurate and relevant data in a format that they can quickly [...]
Management and employees at every level use data every day to make decisions, and thanks to technology we have more information at our fingertips than ever before. For companies to be truly agile and proactive, it is essential for leaders to have accurate and relevant data in a format that they can quickly understand [...]
Setting goals can be fun, especially if someone else is responsible for achieving them. For most small business owners, myself included, the pressure and responsibility for achieving revenue goals rests heavily on the business owner. When faced with this pressure, we can either: Set a vague goal (so it’s hard to evaluate whether we [...]
One of the most common questions we hear from business owners is “How do I get my employees to care about my business as much as I do?” The employees don’t have the same financial and emotional capital invested, so they’ll probably never care as much, but you understand the essence of the question. Our [...]
Your basic financial statements report what has happened in the past – these are lagging indicators. Those numbers are certainly important, but they only tell you what has already happened. If you don’t like the results, there’s nothing you can do to change them. However, to impact future results, you must also identify Key Performance [...]
