In this last installment of “The Four Things Every Business Owner Must Know About His Business,” I’ve saved the best for last: paying attention to team tasks and rewarding excellence.
Many businesses don’t take careful enough aim with their marketing and advertising. As a consequence, they get the results they do with amazing accuracy. The problem is that the results are often far from ideal. Business owners who carefully define their ideal customer will attract far more of them for lower cost and, arguably, less effort. The trick is simple – know what you’re looking for.
After creating the business development plan (outlined in my previous post), the second thing I believe the smart business owner must come to grips with is the daily cash flow break-even sales point. No rocket science here. If a business is to thrive, “cash in must exceed cash out.”
A client recently asked me a very good question: What are the most important minimum basics she must keep in mind if she’s going to be building a better business? What a great question! Here’s my best shot at the answer and it boils down to just four items.
I recently got drawn into Netflix’s new original series, House of Cards, and watched every episode avidly until the cliffhanger conclusion (and now can hardly wait for the next season to be released!). In addition to providing great entertainment, the show provided a great lesson for managers on how NOT to handle a problem with an insubordinate employee. Watchers of the show will know I’m referencing the way that Claire Underwood, the super-stylish, calculating nonprofit director, handled the insubordination of her pregnant employee, Gillian Cole.
At WESST, when consulting with clients on business and marketing planning, we recommend: strategy first, tools second. What that means is that you have to understand what it is you want your business to accomplish before you go out and start engaging in different tactics (such as advertising, setting up social media channels, etc). It’s important for every business to have an overall strategy/plan, from which the marketing plan would flow from which the social media plan would flow.
On March 25, 2013, President Barack Obama signed a proclamation establishing the Rio Grande del Norte National Monument just north of Taos. This past Saturday, a standing-room-only crowd of enthusiastic Taoseños gathered at Taos Mesa Brewing to celebrate alongside some of the political dignitaries who helped make the historic designation possible.
There are numerous associations and organizations based in New Mexico that support women in achieving their personal and professional success — whether through their jobs and careers or small business ownership.
On February 13, 2013 GenQuest, Inc., participated in their 1st annual fitness challenge with Menicucci Insurance Agency. GenQuest and Menicucci competed in 6 different fitness categories: plank, jump roping, calf raises, crunches, wall-sit, and push-ups. Each organization agreed to pay the non-profit of the winner’s choice $100 for each category that they won.
Startup Weekends are intensive weekend-end long events that immerse aspiring entrepreneurs in the process of moving an idea from concpet to market. Teams of developers, graphic designers, marketers, startup enthusiasts and entrepreneurs work together…