Strategy Choices and Long Term Plans

Ask ten business people what strategy is, and most will give the same answer: Strategy is a long-term plan. My undergraduate students give a similar reply on the first day of my strategic management class.

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Have You Seen a Purple McDonald's Logo?

Do you ever think of selling your company one day? Even if you don't believe you would ever sell your business, brand consistency, promise, experience and image are vital to the success of your company. I've heard it many times from small business owners that they can't make a significant investment in branding because of lack of funds.

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The Fear of Failure - Welch Report

Perhaps the biggest mistake you can make is being afraid to make a mistake. What is the worst that can happen? In most cases it will be minor. Don't be afraid to say "I screwed up". "I was wrong".

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Questions Are the Key to Success in Business and Life

It was Kipling who gave us what was perhaps the greatest advice for business success and, in fact, success in life that has ever been given. He told us the key to success in all areas when he said "I had six honest serving men.

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Money Has a Cost

When I speak about the "cost of money" I am talking about just that. Allow me to explain it here to avoid boring you by repeating the same definition whenever I talk about it. All money has a cost.

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Even More Ways to Dramatically Reduce the Cost of Using Outside Experts

Who? Think. To start with, how about your suppliers? They know a great deal about your market and your competition. They can provide you with a wealth of information and advice. They know sources, they may know what works and what has failed.

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Dramatically Reduce the Cost of Using Outside Experts

Your goal must be to reduce and control your costs incurred in conjunction with the use of outside experts while maximizing your results. Remember, lawyers, accountants, consultants, etc., are like anyone else in every other profession.

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9 More Tips to Significantly Improve Your Purchasing Profitability

When you hear this term your warning bells should go off. Ask the questions. Discounted from what? Discounted compared to what prices, over inflated starting prices?

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7 Ways to Reduce Your Insurance Costs

Blindly staying with the same company year after year will rarely, if ever, result in the best coverage for the best rates. I suggest that you bring in 3 agents each year, or at least every two years, to review your insurance needs, recommend coverage, and provide costs.

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7 More Ways to Dramatically Reduce the Cost of Using Outside Experts

I know that in some cases you are not able to verify the time spent on your behalf as it takes place out of the office. However, in many cases you will be able to track much of the time expended on your behalf and in some cases all of it. By having such a log, you will be able to accurately verify or dispute any bills you receive.

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6 Ways to Significantly Reduce Worker's Compensation Costs

This is the time each year when your insurance carrier will verify payrolls and risk classifications. You must verify all figures to ensure proper payrolls within each risk classification within the period in question and to challenge any risk classifications that you think are wrong.

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6 Ways to Improve Your Purchasing Activities

If you allow anyone who needs anything to purchase whatever they need, even if it is small quantities of office supplies, you have a serious problem. All purchases must be authorized and funneled through one central purchasing group or individual.

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The Success Formula: DefyMediocrity

A common problem today is that employees want to be paid more to perform better; they have this backwards. By requesting more money to do a better job, they are admitting that they are not doing the job as well as they could or should be doing it right now.To defeat mediocrity,such an attitude needs to be changed.

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The Simplicity of Dramatically Increasing the Bottom Line of Your Business

How to dramatically increase the profitability of your business without increasing sales. Learn how cost control and expense reduction can dramatically improve the bottom line of your company and the direction of your career.

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How to Double Your Profits Without Increasing Your Sales

Recent studies analyzing the tax returns of over 1 million businesses have shown that the majority of companies in this country make a pretax profit, as a percentage of sales, of 5% or less. I am not just referring to small companies.

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4 Ways to Dramatically Improve Your Purchasing

Competition is one of the keys that drive your ability to control and reduce your costs, therefore, you should have an open door policy for dealing with vendors. By this I do not mean that you should see every sales rep that comes knocking on your door.

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Would You Like to Dramatically Increase Your Bottom Line?

Call them. Tell them you are happy with their current service but you must get better prices. If you are not bidding out jobs and purchases, as you should be, tell them you are going to have to start getting bids.

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Reasons to Use the Injection Molding Technique

Primarily, injection molding is a manufacturing process. In this process, molten material is injected into a special mold. Usually, this technique is ideal if you want to fabricate plastic parts.

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CNC Machining Services: Introduction and Benefits

If you are on this page, chances are that you are into CNC machining. Nowadays, there are a lot of service providers. So, choosing one based on your business needs may not be that easy.

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Is Dustless Blasting Right For You?

Dustless blasting is a procedure that has gained a lot of popularity in the past few years. More companies are beginning to understand its benefits, especially when compared to sandblasting. But there are still many people who are not sure about how dustless blasting works and if it is worth the money.

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How to Turn a Struggling Startup Into a Successful Business

When you go to the doctor, he or she will not prescribe a solution to your symptom without a diagnosis. Similarly with businesses--large, small, start-up, or established. To identify underlying issues, we must perform a diagnosis. First, what does struggling mean? The particular symptom could be insufficient sales, poor quality, inadequate staff, underfunding, and many other permutations. However, an important issue often overlooked is this: Does this business have the potential to be viable? Indeed, not because you decide to be in business means there is a market for the goods and services you offer! Did you do proper market research? Did you choose an activity that merely fits your talents and desires? How much planning did you do before you started?

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