Isn’t Self-Employment Supposed to Be Fun? We all know, just like any game, when you’re losing, most of the fun is gone. In business, when cash flow and profitability are not there, business owners struggle, and the stress can remove most, if not all, of the joy of being your own boss. Even when you’re […]
The Procrastination Penalty (Part 3 – Cash Flow) As explained in a previous chapter, we are looking for incremental gains. Those gains come from a myriad for places within your business and all add up to significant increases to the bottom line when compounded. It is not unusual for a business to see a […]
What Is a “Business” Expense? It is not uncommon for employees to have a company credit card. It is more common for an employee to be required to submit expenses deemed “business related expenses” to their employer for reimbursement. In most cases it requires the employee to submit a standardized form to the employer […]
The Procrastination Penalty (Efficiency Gains and Throughput Improvements) When we want to improve a company’s bottom line the answer is not one solution, but rather many small things that add up and compound the previous ones. This is where the Pareto Principle comes into play, we lay out the areas where we can obtain the […]
Nobody Likes to Change… But Sometimes You Must! A prominent mentor of mine once told me, “People will not change unless they learn enough to want to or hurt enough to have to.” I have repeated this sentence to hundreds of business owners over the years when they were faced with the unenviable notion that […]
Morale… Still a Problem? A few weeks ago, we posted a blog titled, “Is Our Company Morale Low?” Surprisingly, we received more than the usual feedback from people saying that they still can’t seem to understand how to get to the bottom of the issue in their workplace. In the blog, I cited a 3-part […]
The Procrastination Penalty (Part 1 – Employee Issues) Nobody likes to deal with employee issues like harassment, performance improvement, corrective actions, and terminations, not even Human Resource professionals. But there is a huge price to pay when we put off dealing with these issues and instead deciding to use “hope” as your improvement strategy. In […]
Inventory Analysis Can Save You Money! In retail, food service, and manufacturing, Inventory Control is imperative. Minimum and maximum ordering levels will help assure you that you have the right quantities on hand. Not too much and never running out is the goal. Running out of inventory is an obvious concern; got nothing to use […]
A Case Against Outsourcing As a matter of fact, I knew the guy that invented the term “Outsourcing”. He was a mentor, a friend even though we disagreed on this topic all the time. God rest his soul. The reason I disagreed with him was because of an experience I had with a company that […]
Algorithms, Friend or Foe? What is an algorithm? An algorithm is a step-by-step procedure or a set of rules designed to perform a specific task or solve a particular problem. It provides a clear sequence of actions or instructions that can be followed to achieve a desired outcome. More simply put, it is simply a […]
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