Why Revisiting Your Business Plan Regularly Helps You Internalize Strategy and Drive Action
Discover How Writing Notes Activates Your Brain, Strengthens Memory, And Helps You Stay Focused, Make Smarter Decisions, And Grow A Better Business.
Do You Need a Business Plan?
I’m often asked “Do I really need a business plan even if I don’t need a bank loan?” My response is sometimes“Yes” and some other times “No” One thing is for certain, it is not the destination that is important when it comes to writing a business plan, but the journey you take in writing
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Efficiency Myth BUSTED
Ask the average person what made the car affordable and you would hear it was the way Henry Ford used the concept of the division of labor as outlined by Adam Smith in the Wealth of Nations. Most people naturally assume that if you have a job composed of many tasks it is better to
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Start-Ups Look For a Hole-In-One
As an occasional golfer, I don’t have any expectation that I will hit a hole-in-one from the tee box. I expect to take several shots, each one taking into account many aspects including distance, slope, angles and more, with each stroke getting closer to the hole. I have learned that if my only goal is
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Understanding Operating Leverage
Operating Leverage is just one part of your Economic Model. Simply put, operating leverage is the relationship between fixed costs and variable costs.
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Understanding Sales Volume
Sales Volume is just one part of your Economic Model and works in concert with margins. Sales volume is simply the number of units you sell in a specific period of time, say in a month. You can be just as successful if you have a high-margin low-volume business as you could with a low-margin
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Understanding Margins
Margins are just one part of your Economic Model. Margins can be defined simply as the difference between your Direct Cost to deliver a service or a product (often called COGS or Cost of Goods Sold) and the price you charge the customer for that product or service. The basic coffee you buy at Starbucks
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Understanding Revenue Drivers
Revenue Drivers are just one part of your Economic Model. Revenue drivers are how many ways you have to separate your customer from his money. A few years ago, I went to the Dixie-Stampede while I was in the Great Smoky Mountains. The ticket price was a reasonable $45 per person, which is a sensible
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Understanding Your Business vs. Economic Model
Most clients I see can clearly articulate their Business Model, but struggle when it comes to describing their Economic Model. Simply put: Amazon and Wal-Mart share a similar low-cost, wide-selection retail model. However, their Economic Model is quite different, since one business is a virtual store and the other a physical store. Within the Economic
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Are You a Jobbie?
With a large number of Americans either out of work or under-employed, many individuals have resorted to starting small home-based service businesses. It should be noted that a business is an entity unto itself. While it may have only one owner, as is the case with an entity that is sole-proprietor, a business should live
The Hierarchy of Understanding
The process of gaining a true understanding of anything can be visualized as a continuum. When dealing with business situations, it is important that when you collect and organize what you think you know, you use the understanding continuum to challenge your thinking and give relative weight to each element. How can you apply the
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5 Things Every Start-Up Needs
There are 5 things every start-up needs if it wants to be successful. The following list is presented in order of importance:
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What is the Role of Social Media?
Is social media just another way to separate a business owner’s money from the business? Small business owners hear that to be successful these days they have to have a social media presence. I remember with the advent of the Internet business owners were told that to be successful they needed to have a web page.
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Do You Suffer From a Normalcy Bias?
Humans have difficulty recognizing and reacting to experiences that are new to them. This mental state is called our “Normalcy Bias”.
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Do You Think Like an Entrepreneur? Take This One-Question Test
Take This Quick One-Question Test to Discover If You Have the Mindset of an Entrepreneur. Your First Reaction Might Reveal More About You Than You Think.
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What’s Your Real “Why”? Discover the 4 Entrepreneurial Drivers That Shape Success
Most Entrepreneurs Don’t Truly Know What Drives Them—But Understanding Your Primary Motivation Could Be the Key to Long-Term Success and Satisfaction.
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From Saloons to Speakeasies: How a Rebrand Repealed Prohibition
Discover How Saloons Evolved Into Speakeasies And Ultimately Helped End Prohibition. This Story Offers A Powerful Lesson In The Art Of Rebranding.
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You Deserve More Than a Paycheck: Pricing for Entrepreneurial Return
You’re Not Just an Employee in Your Business—You’re the Investor. Discover How Adam Smith’s Timeless Economic Insight Can Transform Your Pricing Strategy.
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Unlocking Your Business Edge: Why Every Model Needs Special Leverage
Discover How Successful Entrepreneurs Use Unique Skills, Tools, or Knowledge to Gain a Competitive Advantage. Learn How to Identify and Leverage Your Own.
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Leverage the Cuteness Factor
Nobody can resist the power of cuteness. I went to a trade show a few years back that had 1,800 exhibitors. Getting noticed in a crowd that large is often quite hard, except for one clever exhibitor. She had in her booth a full-grown African Serval, which is the largest domesticated cat; about the size
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Want to Make Smarter Choices? Turn Your Business Decisions into Math Problems
Click Here to Discover How Successful Entrepreneurs Simplify Complex Decisions Using Math. Learn How Statistical Analysis Can Guide Smarter Business Choices.
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Are You Forcing an Extreme Position?
In the early 1900s you had a class of rough and tumble characters that hung out in saloons, and then you had the Anti-Saloon Organization (ASO) that felt that booze was tearing apart the fabric of society. In 1919 the ASO pushed their extreme position and the 18th amendment to the Constitution made the
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Awaken Your Survival Instinct: The Mindset That Separates Winners from Wannabes
When You Have Nothing to Fall Back On, You Tap Into a Primal Drive to Succeed. Discover How Taking Calculated Risks Can Awaken Your Inner Entrepreneur.
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The Psychology of Rebellion: Why Lawless Marketing Works in America
Discover Why Tapping Into the Inner Rebel of Your Customer Can Boost Your Marketing Results. Embrace the Cowboy Spirit That Defines American Identity.
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How Politicians Use Tax Breaks To Win Votes—And How You Can Benefit
Politicians routinely tweak the tax code to gain financial support from lobbyists and win favor with voters. But what if you, as an entrepreneur, could take advantage of those same strategies? Learn how staying politically aware could unlock real financial benefits for your business.
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Why Chasing Money Isn’t Enough: Focus on What It Buys Instead
Money Alone Won’t Fuel Your Motivation—But What It Can Buy Just Might. Discover Why Entrepreneurs Must Focus on Outcomes, Not Income, to Stay Inspired.
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Ride The Wave, Don’t Build The Ocean
All too often the entrepreneur has a grand vision of how his product should look and how it should work. After spending way too many hours and too many dollars to get the product just right before its debut, when finally introduced the product falls flat. Sometimes assumptions that went into the original design were
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The Surprising Truth About Positive Thinking (And Why It Works)
Focus On What You Want, Not What You Fear. In Business and Life, Where You Direct Your Thoughts Determines Your Outcome. Learn How to Harness This Power.
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How Borrowing Ideas from Other Industries Sparks Breakthrough Innovation
Great Ideas Often Come From Unexpected Places. Learn How Industry Crossovers—From Vacuum Cleaners to Velcro—Can Help You Solve Stubborn Business Problems.
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Do You Know The Path to Profitability?
Starting a Business Is Exciting, but Profitability Doesn’t Happen Overnight. Some Ventures Break Even Fast, Others Take Years—Some Never Get There at All. Before Diving In, You Need a Clear Plan and Financial Runway to Make It Through the Ups and Downs.
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How Targeting the Wrong Problem Hurts Your Business
Are Your Efforts Moving the Needle or Just Keeping You Busy? Discover How Focusing on the Wrong Targets Can Sabotage Your Success Without You Realizing It.
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Inspirational Quote Teddy Roosevelt
“It is not the critic who counts, not the man who points out how the strong man stumbled, or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena; whose face is marred by the dust and sweat and blood; who strives valiantly; who
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Paint by Letters
Do you remember “paint by numbers”? Would it not make more sense to paint by letters since there are 26 letters in the alphabet and only 10 numbers?
What is Average?
Think You’re Marketing to the “Average” Customer? That Person Doesn’t Exist. the Concept of “Average” Is a Mathematical Illusion. in the Real World—And Especially in Marketing—It Can Lead You Far Astray. Discover Why Targeting the Typical or Median Customer Is a Smarter, More Profitable Move.
The Power of Emotion: Why You Should Always Sell the Sizzle, Not the Steak
Discover Why Emotion Drives Customer Decisions and How Logical Justifications Follow. Learn How to Spark Desire in Your Audience Before Talking Features.
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Taxes Are The Way to Wealth
When Robert Kiyosaki of “Rich Dad Poor Dad” fame said, “It is not how much money you make but how much you get to keep,” he was talking about TAXES. As a business owner, you get to claim business expenses that employees do not. For example, if you use a cell phone to make yourself
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What’s Your Time Worth? Why Every Task Needs a Price Tag
Ever Feel Like Time Is Slipping Away? The Secret to Maximizing Productivity Isn’t Just Working Harder—It’s Knowing What Your Time Is Really Worth. Learn How to Calculate Your Hourly Value, Identify Low-Impact Tasks, and Start Focusing On What Truly Moves the Needle. Stop Wasting Time—Start Making Smarter Decisions Today.
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Why Most Entrepreneurs Fail Without Feedback—And How to Fix It
Are You Running Your Business Blindfolded? Without Measuring Results and Tracking Feedback, You’re Guessing Instead of Growing. Learn How Feedback Loops Can Help You Make Smarter, Data-Driven Decisions That Lead to Real Success.
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