Focusing Our Efforts On Growth and Profit

“We own a few businesses and we’d agreed to put all of our efforts into growing the premium services company. However the results seem to be getting worse rather than better. I’m starting to wonder whether we chose the right company to focus on, and if so, how to get it going in the right direction.”

Thoughts of the Day: Knowing how to set priorities across multiple businesses can be a real challenge. Look for opportunity. Evaluate the risks and rewards. Select businesses that have long horizons.

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Why Plan?

Finding it difficult to move things from in my head to getting it down on paper. Hear lots of my business friends say they, too, have plans for their businesses, but it’s all in their heads, not written down. Any suggestions on why that is, and what to do about it?

Thoughts of the Day: If you don’t have a written business plan, you’re not alone. Stats show you get higher results when you do. Follow some simple “How To’s” to get started.

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A Business Set to Grow

We have to make sure our business is set up to be scalable in every way, so that we don’t get stuck as we work to make progress growing the business. What are your recommendations to help us get there?

Thoughts of the Day:  Know what it is you’re trying to accomplish and clue everyone in to the overall goals. Move people around to increase communication and collaboration. Use processes and tools to help measure, manage and improve each area of the business. Move ahead fast enough to be challenging and slow enough to allow time to deal with issues before they become big obstacles.

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Where Will We Be Tomorrow?

Had a lot of uncertainty this past year, but we made it through okay. Looking forward, things seem to be looking up. Am I being too optimistic? How can one really plan ahead longer term when we don’t know how things are going to play out?

THOUGHTS OF THE DAY: Looking ahead, change is a given. Look for the upside. Be clear about the overall mission. Learn how to take manageable risks.

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If it’s Getting to be Time to Sell the Business

Thinking about whether it’s time to get out, and who would we sell to if we did decide to quit, and for how much. Not in a rush, but it’s time to get prepared. Wondering how best to go about doing this.

Thoughts of the Day:  Knowing what you need to get is different from knowing what you can get from a sale. Optimal buyers don’t just show up. If you’re running out of time, make the best deal that you can.

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