Here’s a common scenario: You are in your post-project wrap up meeting. The team finished the project under budget and within the allotted hours. The client is satisfied with the work and everyone on the team starts congratulating themselves on a “job well done.” Except no one mentions that the project took 3 months longer
Sometimes when we do our monthly reviews with clients, a theme appears. This month it was matching. Matching means making sure that revenues and expenses are matched in the same period. In layman’s terms it simply means if you invoiced a client for work done in that month, you want to make sure all the
It’s football season, and with it comes the donning of team jerseys, trips to football stadiums, and Monday-morning quarterbacking. It got me thinking about team playbooks. Guarded like gold, and critical to a team’s success, a player wouldn’t be allowed on the field without having memorized all the plays. Yet, many businesses operate every day
I struggled to write this post, because frankly, I LOVE business books. I mean I really love them. I read about 1 every two weeks (well, technically I don’t read them, I listen to them.) If you check out my Audible account it’s pretty ridiculous the number of books I have in my library.
There is a lot of big data in your small business. OK, maybe not the Big Data that Google and Facebook capture… rather, the everyday data that, if you could harness it, would give you big insights and even bigger results. That’s what we consider big data in small business. The key is harnessing that
You may have started this business on your kitchen table, or in your garage, or, even in a trendy new co-working space. But now you’re officially a “big” company, pulling in a couple million — with your own office space and a staff and a lot of growth on your horizon. You are a real
There was something suspicious about that charge on the bank statement. The client didn’t remember making that purchase. They just happened to open the statement email and log into their account to see their statement balance. Noticing it was unusually low they–“just out of curiosity”– looked to see what they were spending their money on.
Again! The customer didn’t pay again! It was the third month in a row that my client’s customer had some excuse as to why they couldn’t– or wouldn’t– pay. When I looked at my client, I had to ask: “When did you become a bank? Because I thought you were in a completely different line
It’s the classic chicken or the egg situation. Do you hire a new person to handle all the new business you think is going to come in? Do you wait for the new business to come in then hire someone? It’s the age-old question every entrepreneur has had to consider. Hiring a new person is
We often run into companies that book costs under one category — Payroll. And that Payroll line is often found in the expenses section of the P&L, not up in Cost of Goods Sold. So who cares? Labor is labor — especially if you are paying salaries, right? It’s not a variable cost, right? Wrong.