You built your company for many purposes, one of which was making a profit. As you continue to grow your business, you may find that sales are increasing while profitability is decreasing. How do you catch profit slumps before they happen? In this article, we share pearls of wisdom found in an interview with the…
One of the most significant challenges any business owner faces is to create business stability no matter the situation. Whether instability is caused by a flagging economy, a hurricane, or a global pandemic, your business is vital to you, your customers, and your employees. With that in mind, it is essential to keep your company…
It is vital in any economic climate to take advantage of every business opportunity that comes your way – and to seek out new opportunities as your company grows. However, it’s also true that companies miss opportunities all of the time, either by negligence or by being too busy to take advantage of them. Opportunities…
With the national “stay at home” recommendation over and many states loosening restrictions, companies across America are reopening. This reopening looks different depending on the type of business you are in. For example, a hair salon in Florida is reopening by serving one customer at a time. Both the stylist and customer have masks on…
Businesses across the U.S. and the world are changing and adapting to the rules and regulations surrounding COVID-19 protections. Companies that require in-person work may be minimizing their staff, staggering shifts, providing gloves and masks, or may have shut down operations until reopening is possible. Others that allow for at-home work have structured their systems…
Times are changing, which means that now is the moment to prepare for success. Whether your business has slowed down, is growing at an average pace, or has taken off, it is crucial to organize systems and processes now, which will support growth in the long run. Many businesses have taken this moment of change…
Most company owners write a business plan when they start their company. This plan is usually to provide justification to a bank for funding. However, once it’s written and funding is obtained, the plan commonly sits on a shelf somewhere, becoming obsolete as the company grows. Practical Business Planning If you are a business owner,…
Marketing is an incredibly important part of any business. When done right, it brings floods of qualified customers to your doors, interested in your products or services, and ready to buy. When done poorly, marketing can have no to negative results. One tendency that we see occur over and over is to get excited about…
During the hustle and bustle of daily activity, it is easy to avoid streamlining and organizing your business. Many business owners can get sales done and product out to customers in spite of poor organization, so they put organizational tools on the back burner in favor of proven money makers. The thing that many disorganized…
There are plenty of time and money wasting actions any business owner can – and probably has – done in the course of trying to invest in company growth. While we can’t save you from every past investment that does not lead to a good return, the Business Success Consulting Group team is devoted to providing…