Learn more about business with this collection
The importance of innovation
The power of perseverance
How to think big and take risks
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Keep your reporting simple while still being able to recognize a flashing red light that indicates a problem.
The more frequently you look at a report, the less data it should contain.
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There are five basic elements that combine to drive the profits that are used to establish the value of your business: customers, employees, processes and know-how, core capital, and intellectual property.
Profitability, salary cap management, and the four forces of cash flow are all contai...
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Least understood and least measured form of capital (yet it’s the most common!)
If you can’t afford to pay yourself a market-based wage for your efforts, then you’re going to have to defer payment and work for it.
The trap that most people fall into is believing that because they have...
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The “black hole” exists between the $1 million and $5 million in revenue.
This is a time in your business growth when you’re forced to add staffing and infrastructure before you can really afford to.
One of the keys to success is continually upgrading your staff.
The need to add...
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Gross Profit = Revenue – COGS
Do NOT include direct labor costs in cost of goods sold.
Cost of goods sold typically includes pass-through costs like finished goods, materials, and subcontractors.
By focusing on gross profit instead of revenue, most businesses fr...
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Opportunity is missed by most people because it is dressed in overalls and looks like work.
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Pretax Profit = Total Sales – (COGS + Operating Expense + Interest Expense)
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CURATED FROM
IDEAS CURATED BY
This book teaches the fundamentals of owner compensation, profit targets, labour productivity, cash flow, and data reporting. Clear explanations and helpful illustrations throughout make it a must-read guide for small business owners looking to achieve higher profits.
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Prioritizing mental health in the workplace itself has also been a challenge for many companies: A survey published in August by Vancouver-based workforce analytics company Visier found that a staggering 89 percent of U.S. employees have experienced burnout in the past year.
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Complaining that you don’t have enough time is not getting to the root problem. It may be that you’re lousy at time management. Admit to yourself that there is enough time -- you just don’t know how to get the most out of it. Now, you can start improving your time management.
Perhaps you were not at the top of the class, not the employee of the month, nor are you the "10" you think your partner wants. But you're probably pretty spectacular in some way, and definitely good enough in most areas of life. If ever there were a time to stop beating yourself up for being hum...
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