How do you decide what to charge for your product or service? The specifics will be different for every business, but it comes down to one thing: VALUE. If your customers can see the value of buying your product or service, they'll happily pay the price. If they don't see that value, it makes little difference how...
Like it or not, money is a subject that seems to be ever-present in the mind of the business owner. We talk about it, we think about it, we worry about it. We plan for what we'll do when we have plenty of it, and we reveal our fears, frustrations, and resourcefulness when we don't have enough of it.
In this podcast, we talk about four ways money moves through your business.
Cash = Opportunity
"I need more sales." If I had a dime for every time I heard that from a client… Well, I’d probably have $20 by now. But seriously, the issue of sales (or lack thereof) comes up all the time; most often from clients who are just beginning the EMyth Coaching Program.
If you're like most small business owners, you started your business because you wanted more personal freedom and you possessed valuable knowledge and skills in a specific industry or profession. You didn't however start with a clear picture of the business you were going to create. Instead, you went out and did w...
Do you know how much cash you have? Do you know how that cash flows through your business? The amount of cash you have on hand is one of the most important metrics for the growth and survival of your company. As a business owner three of your primary financial responsibilities are:
When your business experiences or anticipates big growth, it will impact every area of business. Big growth means big changes. In addition to the logistical and management issues that come up, it's also likely that you'll need to raise some (or a lot) of money.
As a business owner, you think about money a lot. You talk about it. You worry about it. You plan for what you'll do when you have more of it.
There are two important steps required to achieve effective cost reduction in your business. The first step is to have a well thought-through strategy in place. The second step is to understand the enormous impact your leadership has on your business.
Few things will kill a business faster than lack of cash. Even once profitable businesses can fail when they run short of the cash they need to sustain operations.
Deciding how to compensate your employees and, if you have partners, how to structure pay between them equitably is a topic of interest for our business owner clients. In this article I’ll touch on some of the important criteria from the EMyth perspective, helping you understand this critical component of your com...
Venture capital, business loans, and lines of credit: all this and more exists for businesses that need to grow, to purchase equipment and inventory, or expand their facilities. Much of the initial growth for small businesses is funded on borrowed money. It’s the way things are done. But it comes at a cost.
As many business owners are painfully aware, it's not an easy thing to create an operating budget for a business whose revenues tend to be all over the map. Yet this is the reality for many businesses.
Is your business doing well?
Okay, let’s be real. Most business owners don’t create budgets.
You know what a bad sales call feels like. The aimless small talk, the thinly disguised attempt at ‘relating’ to you, and the ever-present background anxiety of the sales person desperate to meet their monthly quota. All you wanted was a real conversation with a real person to help you make an informed decision. N...