If, after reading part one and part two in this series, you’re starting to see the value in better understanding your financial performance, then we’re in a good place to move forward. If you’re thinking, “Sure, that all sounds good, but there’s no way I have time to put this much energy into tracking and thinking...
Perhaps you use Google Analytics to track every visitor to your website, right down to the country they’re visiting from. Maybe you even use wearable technology and a smartphone to measure the steps you take in a day or how much sleep you get at night. But what are you doing to measure the financial health of your...
How many times have you heard someone say, “I’m just not a money person”? Have you ever been that person? It’s a common expression and an easy escape hatch to fall through when you’re staring at spreadsheets full of numbers and formulas. But it’s a phrase, and an attitude, that’s ultimately unproductive and stoppi...
If, after reading part one and part two in this series, you’re starting to see the value in better understanding your financial performance, then we’re in a good place to move forward. If you’re thinking, “Sure, that all sounds good, but there’s no way I have time to put this much energy into tracking and thinking...
This is Part Four on how to build a sales system that works. Read Part One, Part Two, and Part Three here. When you really break it down, a salesperson who has the highest lead to sales conversions is doing one thing better than everyone else: leading the sales conversation. If you, in your sales role, or your sal...
This is Part Three on how to build a sales system that works. Read Part One here, Part Two here, and Part Four here. How well do you know what’s really going on in your sales department? Whether you’re a solopreneur or you’ve got a team of salespeople responsible for bringing in new business, how much do you reall...
This is Part Two on how to build a sales system that works. Read Part One, Part Three, and Part Four here. Isn’t it curious that sales, the lifeblood of every small business, is so damn hard to get right? You started your business because you believed you could make or do something that other people wanted, but th...
This is Part One on how to build a sales system that works. Read Part Two, Part Three, and Part Four here. It’s not hard to agree with the idea that your business needs systems. But, when it comes to sales, small business owners often have a lot of difficulty really getting behind creating a comprehensive sales sy...
“We need more sales.” At some point during the life of your business you've probably uttered these words. For most business owners these words have become a part of their regular vocabulary. Without sales, there's no business. The employees need to get paid, the lights need to stay on and most companies are lookin...
Trendspotting is a term most commonly used in fashion circles. Top designers will spend thousands of dollars to send their curators all over the world to… spot trends. We’ve notoriously been told that the fashion industry is capable of predicting what colors we will want to wear before we even know we want to wear...
Numbers—drilling down into a complex spreadsheet of financial data—can be unsettling. Even to those who are accustomed to reviewing their own financials and metrics on a regular basis, it’s entirely possible to feel degrees of panic when faced with looking at the numbers. Why? Because there’s no hiding from the tr...
When most business owners hear the word “budgeting,” they cringe. Many times, the “budget” ends up collecting dust on some back room shelf, never to be seen again—until your accountant asks to see it. But your budget is more important than you think. It’s critical in helping you and your management team get the pr...
Go ahead, take out a $20 bill and put it in your hand. Notice the emotions you feel. Now, pull out a $100 bill and do the same thing. Cash definitely has feelings associated with it and you should discover what your feelings are and what cash means to you.
Are you a spender or a hoarder?
If you listened to NPR's Marketplace this week you might have heard an interesting story: micro-lending–the practice that has spread like wildfire in the developing world–is getting its start in the US. For a small business owner struggling in these tough times, a small loan can make a big difference.
In today's episode of the EMyth Insight Podcast, we discuss the relationship that most business owners have with money.
In this tumultuous economy, reducing operating expenses has emerged as the number one objective for business owners everywhere. So what are operating expenses? Operating expenses (also known as operational costs, fixed expenses, and indirect costs) comprise the expenditures that a business incurs as a result of pe...