In the realm of business, facing challenges head-on is crucial for growth and stability. When financial setbacks arise, transparent communication with your banker becomes paramount. Here’s how to effectively navigate the conversation and secure support when your company encounters difficulties. Why Communication Matters No business is immune to occasional financial hurdles. Whether it’s unforeseen market…
Unlocking Your Business’s Financial Secrets: The Four Types of Expenses Hey there, fellow business aficionados! Today, we’re diving into a topic that might sound a bit dry at first glance but is absolutely crucial for anyone steering the ship of a small business: expenses. Yes, those financial puzzle pieces that can make or break your…
How can you work smarter? Are your days so busy that you rarely get to the most important items on your to-do list? Work smarter. According to small business peer board members, success came easier once they learned to concentrate on tasks that matter, instead of spending time on trivial activities. They learned to harness…
What if, Your product or service is impacted by Tariffs? Businesses are changing faster than ever due to Government Regulations, technology, global communications, and distribution, etc. Tariffs are part of that, too. Leaders need to get outside their business to gain insights, opportunities, and awareness of the world around them from other business owners. They…
Ways to Get Employee Involvement So, with that in mind, how do you encourage freethinking in the workplace? Great minds don’t always think alike. Here are some techniques that some members of my peer advisory groups use: • Encourage your employees to offer suggestions—after all, who knows the ins and outs of your business better?…
What If… You could Avoid a Bad Decision? Who do you discuss your business thoughts and decisions? A PRO, Peer Advisory Member was asking his board about a potential business investment decision. The board did not feel this was a good investment, and also gave the person thoughts to improve the probability of success, if…
What If… You lost a major customer? Who can You talk with after you’ve lost a major customer? Will You have to cut Your work force? Will the bank tell You to move Your loan? or What do You do if You lose a key employee due to injury, leaving you or death? Difficult questions,…
What If… You wanted to change Your holiday bonus? Holiday bonus can be a difficult time. What do you do? What is fair? What are other companies doing? This is especially difficult if you give a discretionary bonus. Compensation is a satisfier. It is not a motivator. If your holiday bonus does not satisfy— You…
