Kill the Queue! In my long career there was one book that inspired me, helped me tremendously, and haunts me wherever I go. The book by Eliyahu M. Goldratt is “The Goal: A Process of Ongoing Improvement”. It is about the “theory of constraints” which leads me to what I call “throughput management”. I […]
Yield Management Last week we talked about discounting, the uses and pitfalls of discounts. It was not a question of should or shouldn’t I discount, rather the how and when of discounting. This week we want to talk about Yield Management and how that might fit into your discounting or pricing models. Yield management, […]
How and When to Discount At first glance to the average Business Owner discounting doesn’t seem complicated. But you are much savvier than the average Business Owner and you realize that there are pitfalls in discounting. Here are a few, perhaps more than just a few, so please bear with me: Erosion of Profit […]
Analysis Paralysis You may have heard me say “analyze and adjust, rinse and repeat”. Analysis in your business is crucial to business success. In fact, I’ve written many articles on types of analysis, how to perform them, and why they are important. So, at first glance this article may sound like I am against […]
“Double Entry Bookkeeping” What is it and Why is it Important? Here’s a riveting topic… Double entry vs. Single entry accounting. I know, a little clinical of a topic to dwell on but clients often bring up a question about their accounting reports that makes this topic relevant. That question is this, “Why don’t […]
Financial Advisors… what’s the deal? Over the years I have been asked by many people and business owners about the value of having an FA (Financial Advisor). So that we’re all on the same page, an FA is an investment professional who can assist you in creating and implementing a personalized plan to pursue […]
Small Business vs. Big Business Turning Business Disadvantages into Marketing Advantages If you are the largest of your business type in the area then brag about being the largest. If you are the smallest, then tell them about how you can provide personalized service. If you’re the oldest tell them about how long you’ve been […]
Just How Busy are Your Employees? Everyone says they are “too busy” or “have a lot on their plate” but are there ways to tell when someone is truly busy or when they could handle more? Determining whether employees are genuinely busy or can handle more work involves a combination of observation, communication, and […]
Ego At first glance when you read the word ego you immediately think about those with and those without an ego, and how obnoxious thing egotistical people can be. However, by definition, Ego is the part of the psyche responsible for our sense of self and our ability to interact with the outside world. In […]
Pricing for Profits Raw Cost, Burden, Mark-Up and Margin Raw Cost: Joe, you look frustrated, what’s up? Joe looks up from his desk, take off his glasses, rubs his eyes and forehead and says, I am trying to price our new widgets that we are making on line 2 and want to bring to market […]
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