In the first installment of Assess for Success, we reviewed Strengths, Weaknesses, Opportunities, and Threats (SWOT) Analysis. In this second installment, we’re going to review assessing value creation and delivery. (Image courtesy of www.orbussoftware.com/blog) Specifically, we are going to create a Feature-Benefit-Value Mapping process to enable you and your employees to determine and understand the … Read more Assess For Success: 6 Ways To Evaluate & Improve Your Business – Part 2: Feature-Benefit-Value Mapping
For every business owner, it is very beneficial to know the current value of their business, and the factors that determine that value. That requires doing valuations on a regular basis. What about the non-financial aspects of our business? Do we know the current worth and condition? We may think so, but there are several … Read more Assess For Success: 6 Ways To Evaluate & Improve Your Business – Part 1
Top 5 Value Drivers and Value Killers of a Business A few years ago I went to a professional group meeting. The topic was “value drivers” and “value killers” of small companies. There was a very qualified panel of experts (I don’t remember who they were at this point – sorry about that panel members), … Read more Top 5 Value Drivers & Value Killers of a Business
I had the privilege of presenting at the Supporting Strategies Business Fundamentals Bootcamp this past Friday, June 10, 2016. I appreciated the opportunity to present, and am very grateful for all those who attended the event, to those that attended my presentation, and to those that introduced themselves after and offered feedback. I was excited … Read more Thank You To All Who Attended My 6/10/2016 Business Fundamentals Bootcamp Presentation
Once upon a time, there were two owner-manager partners of a small professional services firm. Like a lot of small businesses, they started successfully, but struggled with consistency over the years, fending off near-death cash crunches on an all too regular basis. After surviving yet another near death experience, they decided they wanted to re-design … Read more Design Business Success Starting at the Top
My last post was about mastering project profitability. This post is a complimentary follow-up, featuring a HubSpot blog that details project planning and pricing best practices that, as lame Seinfeld stand-up comic Kenny Banya would say, is “gold, gold.” I encourage any professional or creative service business to adopt and customize this rigorous, thorough process … Read more Make Accurate Project Estimating a Best Practice
The most common issue I hear about when talking with professional and creative service business owners is profitability. I cannot recall one owner not wanting or needing to increase profitability. And it is understandable, because for professional and creative service businesses monetizing knowledge and creativity, it is the single most important financial result that determines … Read more 3 Steps to Mastering Project Profitability
I wrote a post on the importance of developing and using an effective strategy and strategy statement recently. As a compliment to that, here is a piece that describes a simple, fast, and easy test to apply to your strategy to see if is likely help you and your business perform, achieve, and succeed. Rather … Read more The First Question to Ask of Any Strategy – A Quick Litmus Test
Yes, I am of the school of thought that believes (knows) that developing a well-thought strategy is not the product of a divisive process that wastes time and money and that ends up in a binder on a shelf or archived on the server. To the contrary, it can enable alignment, unification and focus of … Read more Do You Have A Strategy? Does It Work?
This video from a renowned thought leader and author is a great primer for novices, and refresher for experienced entrepreneurs.