Profit is defined as the money that is left once you subtract expenses from revenue. So straightforward, right? Profit=Revenue-Expenses As with everything business owners and executives face, profit is not so simple in real life. There are many factors and decisions you make along with way that impact the firm’s profit. Over the years, Trivers … Continue reading The Profitability Checklist 2020
“What’s your superpower?” Have you thought about your answer? It’s come up frequently in business conversations recently and it’s made me think. Is this a meaningful question? What is a superpower? How can one make a difference to your company’s revenue and profit? A Meaningful Question Is “What’s your superpower” a meaningful question? It depends…. … Continue reading What’s Your Superpower?
Did you see what I saw? Once the calendar turned to October 1, everyone was publishing articles about finishing the fourth quarter strong. Or planning for the next year. There’s always good advice buried in these approaches. I couldn’t help but wonder, though, if focusing on business needs, not calendar, would be more useful for … Continue reading Don’t Let the Calendar Control the Timing of Your Business Decisions
“It’s our slow season,” the HVAC company owner told me. “We have to cut prices to the bone in order to keep our guys at work. They’d rather ‘take a haircut’ than lose their jobs.” Owning a company that is affected by seasonal fluctuations in customer demand is very tough. I’ve worked with many, including … Continue reading Are You Begging for Business?