Operations

Finding New Sources of Business

“Whatever the mind can conceive and believe… it can achieve.” Napoleon Hill, Think and Grow Rich Let’s say you’ve got a successful business with a decent stream of buyers.  Everything is moving along smoothly.  Steady. The question is, how can I find more profit in this situation.   My answer is to Expand the Product Line. Here are a few ways to consider this challenge… 1. Think about vertical markets. Consider where you are in the distribution channel of your product. Is there a way to get a new product from your suppliers? Or, can you act as distributor to someone downline who ultimately has the final buyer? 2. Add a related product to your existing line. If you sell sunglasses at a stand in the mall, do you also sell those fancy neck chains or cases? If you offer a lawn service, can you include a tree triming or irrigation …more

Old School Business Mentor – Machiavelli

Old School Business Mentor – Machiavelli

Sometimes a  little history lesson is needed.  They don’t have to be long winded and boring.  Just a reminder that history repeats itself.  It can be simple and to the point.  I want you to think about these almost 600 year old ideas … 5 Business and Leadership Lessons from …more

5 Steps to Business Success with Lifelong Learning

“I don’t think much of a man who is not wiser today than he was yesterday.” Abraham Lincoln When we were young, we went to school.  Education was something that was necessary and learning was done automatically.  Somehow after graduation, the pursuit of knowledge becomes a thing of the past.  …more

Get Multiple Profit Sources

It’s an old saying, but couldn’t be more true today – Don’t Put All Your Eggs in One Basket While the quote suggests putting your eggs into multiple baskets, another idea is to have more than just eggs in your basket. In other words, diversify your business. To generate the …more

A Quick Business Plan Template

There are millions of pages written about how to write a Business Plan. Bookstores and e-books are full of expert techniques. For me, I always like to start with a standard outline.  Then, start filling it in and expanding the ideas. Almost like fill in the blanks with the basics …more

10 Biz Ideas with Low Startup Costs

A recent study by the SBA found that when unemployment is high, the number of sole proprietorships goes up. Some people who are laid off from their jobs decide to start small businesses. If you find yourself in such circumstances — out of a job and thinking about starting a …more

Find the Numbers that Drive Your Business

Financial Statements. I hope you’re not shaking your head with dread when I mention this topic. I know it’s not always exciting to review the numbers, but keeping an eye on the bottom line is key to maximizing profits. If you read and follow these 3 Financial Statements, you can …more

Streamline Your Operations

Do you have a procedure manual? One way to increase your profits is to find efficiencies in your operations.  I know it may be difficult to put together that “How To” book, but it will be worth the effort. If you already have a manual, this is the time to …more