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.
Continue reading “A Business Set to Grow”
We’d like to buy a building. We also want to invest in developing more sales. Unfortunately we have limited funds to work with and we’re thinking this building could be a once-in-a-lifetime opportunity. How much do we need to buy a building? What is the best decision to make?
Thoughts of the day… Investing in growth is essential to the future health of any business. On the other hand, a building is a tangible asset, something that most service businesses lack. Make sure you have a handle on all anticipated costs. Cash flow is going to be king as you consider taking on new expenses and juggling priorities. Think long term, while you manage through the short term.
Continue reading “Buying a building? Think future as well as present”
The partner we thought we had has turned out not to be a true partner. We feel like they went behind our backs and directly approached our customers and our employees. This, after they’d agreed to keep hands-off.
Thoughts of the day: How much do you have in common with your partner candidates? What do you have in writing to document your agreements? Check backgrounds before starting work. If a deal sounds too good to be true, it probably is. Get everything in order up-front.
Continue reading “How to make a partnership work”