Questions My Business Owner Clients Ask Me: How Do I Motivate & Keep My Employees?
Once you have onboarded, trained, and turned new hires into great employees and team members, it’s critical to recognize their success to keep them motivated and on point. Here’s a few ideas…
Questions My Business Owner Clients Ask Me: Why Can’t I Continue to Grow?
As the founder and owner of a small business, you are in charge of all aspects of growing the company – including elements you’re really good at and those that are not so much in your wheelhouse. But you have to do it all until you consistently generate enough income to make your first hire…
Questions My Business Owner Clients Are Asking Me: Year End Tasks
No one likes their year-end tasks – BUT it’s even worse if you have to start the New Year (think “clean slate”) with a bunch of left-over artifacts from the prior year. Best to get them done NOW – before the Holiday Celebration kicks into high gear, the decorations are up, and the family starts to visit…
Questions My Business Owner Clients Are Asking Me: Budgeting
Budgeting for next year should be done once you have closed your Q3 books. This usually starts in October and will hopefully be completed by the end of November so as not to interfere with year-end sales and parties.
Questions My Business Owner Clients Are Asking Me: Employee Reviews
Performance reviews are HORRIBLE! Neither the manager nor the employee likes to do them – or likes to be “reviewed!” BUT we all want to know if we’re doing a good job – what we do well and what we could do better.
Questions My Business Owner Clients Are Asking Me: Should I Sell My Business Now?
Selling your company is an enormous decision. Besides all the work that has to be done to prepare the company for sale, there are times in the economic cycle that are better than others for a sale.
Questions My Business Owner Clients Ask Me: What Are Variable Costs?
And why are variable costs important? Most bookkeepers and accountants do not separate variable and fixed costs on small and mid-sized businesses’ financial books. Even some of the $100 million+ companies I banked had a CFO that did this… Why? Variable costs are the costs associated with producing and selling your product – Cost of […]
Questions My Business Owner Clients Ask Me: What Do I Do With A Problem Salesperson Who Produces?
Culture is long term! It’s what makes your company unique. A salesperson can be replaced, but culture takes a long time to build. With a strong culture, it should be easy to attract a super salesperson to fill the position – one who is attracted to, and motivated by, the culture.
Questions My Business Owner Clients Ask Me: Are We having A Recession?
If you’re starting to see the slow down (and some industries are), absolutely start looking at cutting costs and going into preservation mode — as you want to be here (with your best employees) when the economy turns around.
Questions My Business Owner Clients Ask Me: How Do I handle higher wages?
It’s time to bite the bullet. Inflation and a tight labor market are pushing up salaries – your margins will pay the price in the short run because you will have to increase wages for all your employees – not necessarily immediately, and not necessarily at the same rate of increase.