Small businesses run on numbers, but not everyone understands their significance. In this webinar, Tom Stimson shares his techniques for quickly evaluating a business based on what the financials say.
I originally wrote this for AV Matters® in December of 2016. I planned on writing a new list, but all of these previous items still matter. So, I am appending five more items and making some tweaks to the original list.
I hope you tried a lot of these this past year. Let me know what worked and what didn’t. Continue reading
Is your noblest quality your business’ worst nightmare?
In drama, a tragedy is a story in which the hero’s virtue goes too far and has horrible consequences. Continue reading
The vast majority of my readers use the calendar year as their fiscal year. That means that on December 31st, they close their books, add up the score, then begin a new year. In sports you are not supposed to be thinking about the next game until the current game is over, but in business we don’t have the luxury of waiting. The things we need to do to succeed in the coming year often require our attention well in advance. Will your business grow? Should you hire more employees? How much new capital should you invest? And, what results do you expect from these actions? Continue reading
How do you stack up against other companies? In this webinar, Tom Stimson outlines what a fully functioning small business looks like with tips on how to move closer to your ideal model.
If your questions about proposals tend towards “Is this price too low (or too high)?” then it’s time to take a fresh look at how you value projects.
This is a three-part series introducing a business practice embraced by many successful companies – How to leverage outside workforce to generate more growth and profit for your business. Relax, I am not going to tell you to ship jobs overseas or move your payroll to a professional employer organization (PEO). The real opportunity is to become more nimble, responsive, and creative in the pursuit of profitable growth. A key to that success is the effective use of third-party intellect and execution.
If all revenue is good, then you never have to say No. Every customer is valid target. Every RFP is worth pursuing. You won’t have to work as hard to find opportunities, because every opportunity is good. You will need more salespeople, more designers, more estimators, more draftspersons. The only dis-qualifier for more revenue is, “We are too busy,” which as every sales manager knows will incite rebellion on the sales team. So, you hire more people. Continue reading
“Here’s the deal,” the owner of a mid-sized company explained to me, “we are only seeing bid work these days. Low-profit RFPs. We have to do it. We have to keep busy.” Continue reading
You can copy the way another company looks, but you can’t copy how they think. Your mindset will determine whether you have sustainable results. Continue reading