The best type of revenue a business can generate is organic revenue. The hardest type of revenue to generate is organic revenue. Paid revenue means your business will lose the revenue to the next company that pays a higher price. Organic revenue means your business owns its customers.
Tune in today as Dylan shares his thoughts on paid and organic revenue.
Continue reading “Paid versus organic revenue”
Building a valuable business happens because an entrepreneur can anticipate what needs to be done and gets it done before their competition does it. When was the last time you had an idea that you either took from a competitor and made it better or executed on a strategy before your competitor did?
Tune in today as Dylan shares some thoughts on how to make sure you are moving your business forward.
Continue reading “When was your last good idea?”
You may think your business needs money but chances are your business needs to focus on fixing the parts of it that are broken. If your business is growing, what do you need money for? If your business is not growing, what does it need money for? Tune in today as Dylan shares some thoughts on how to deal with cash challenges.
Continue reading “Lack of cash is a symptom not a problem.”
Context is everything. If you are trying to build a valuable business you should know what milestone you What is your exit strategy? How much money do you hope to collect from your business? Will you collect it through fees, a paycheck or one large payout when it is sold? Thinking through this should change how you approach your business every day. Tune in today as Dylan shares some thoughts on exit strategies and why they matter.
Continue reading “Sell. Shut down. Or wait and see?”
In their own mind, every entrepreneur thinks that their business is a slam-dunk opportunity for a banker or investor to consider. What an entrepreneur often fails to realize is that a banker or an investor is not as close to their business as they are. They lack the intimate knowledge of all the small details and are often left having to make a decision based on out-of-date information including financial statements that don’t make sense which is the basis of every credit decision a bank or investor makes. If entrepreneurs are serious about being approved for financing, they have to approach their request the same way they approach the delivery of their product or service to the market: with specific solutions to the problems presented. Imagine trying to sell your product or service to customers with half-baked strategies and materials.
Continue reading “How to guarantee your business is approved for financing”
Have you ever asked yourself this question? When you consider the work required to keep a business alive, trying to figure out how to grow a business can seem impossible and pointless. Why bother growing a business when it’s hard enough to keep it going without complications and challenges? When it comes to growth, what are we really talking about? Growing revenue? Growing experience and knowledge? Growing our bottom line or the value of our assets?
Continue reading “What is the point of growing a business?”
It doesn’t always need to be complicated. It doesn’t always need to be difficult. Sometimes the simplest goals are the ones that don’t require a lot of thinking. As entrepreneurs we strive to build value by using people and resources to solve a problem in the market. To get a return on the effort and money invested, we need strategies that can help us achieve that. While simple in principle, the practise of doubling your results takes grit and is just challenging enough that you need to pay attention and stay engaged. Once done, the rewards set the stage for the next goal.
Continue reading “Want a simple goal? Double your results.”
There are moments when everything is going well. Money is in the bank. Profit is finding its way to the bottom line. Customers and staff are happy. These moments can cause complacency if we aren’t careful and it’s only a matter of time until life feels upside down. When the good moments come along, they are best used to figure out what a business needs to do next. If you need some direction on what to do next, take a look at your competition.
Continue reading “You need to copy them before you can beat them.”
Not every day is awesome. Depending on where you are in your journey as an entrepreneur you might find that most days are tougher than others. Cash flow concerns. Challenges with people on your team. Market problems that you didn’t anticipate would impact your business. The list is endless. There are days when it can be very overwhelming to be an entrepreneur and it can feel like everything is coming undone. In moments like these, perspective helps.
Continue reading “When it seems impossible.”
The best times in a business are not obvious until you look back. Was it the market helping your business do well or was it brilliant management decisions? Maybe a little bit of both? You never can tell when the good times are coming to an end and the same can be said about bad times. As entrepreneurs our job is to manage our business well in both the good times and the bad times. Part of doing this means knowing the difference between the market forces impacting our bottom line and our leadership abilities.
Continue reading “You never can tell.”