What happens when you look in the mirror? Your reflection stares back at you and you do an assessment of what you see. This assessment includes what you like or love about yourself. Great hair! Bright eyes! Stylish clothes! And it includes what you don’t like: droopy eye lids, dry skin, signs of aging! You … Continue reading Do You Always Love What You See in the Mirror?
Pricing and profitability require a finely tuned balancing act: price too low and you miss your profit goals; price too high and you’re at risk of customer resistance and being undercut by the competition. Companies take a couple of different tactics. They scope out the competition and try to position themselves near the top. They … Continue reading Close the Gap Between Pricing and Profitability Goals
Type ‘cash flow management’ into your search engine and what do you see? All of the top cash flow management articles rely on the same two practices that ostensibly improve cash flow: 1) give discounts for faster payments 2) don’t pay your payables until the very last minute. There are two problems with this advice: … Continue reading Do You Lose 2 Dollars of Every 100 that You Make?
One of the most powerful lessons I learned early resulted from this statement by a business owner: “I don’t want them to think I need the money.” This professional services provider, who was sales rich and cash poor, believed that asking for prompt payment was a weakness. You might not be surprised to learn that a … Continue reading Are You Voluntarily Causing Negative Cash Flow?