If you are like most business owners …
If you are like most business owners, you launched your business because you are really good at the thing you do. And maybe it was also because you got fed up with some aspect of where you worked before.
If you have read The E-Myth, you know that Michael Gerber says that at least 90% of entrepreneurs are just regular people. …
March is back, which means you’ve survived a year of Covid-19. It has been tragic for many, and there have been many, many changes. While I want to acknowledge those we lost (I personally lost one of my Aunts as well as a friend to Covid-19), there is still hope. Vaccines are getting distributed, and we have learned a great deal about how it spreads and how to avoid it. But I want to focus on your business and the implications of the last year on your business.
Aside from the varied mandates, advice, and sometimes crazy news coverage, you…
Uber found that $100,000,000 (one-hundred million dollars) of their $150 million ad budget was being fraudulently billed. And after drilling down, cutting spending, and figuring out where the money was going, they got the same result with 13.33% of their original spend.
Nandini Jammi wrote a great thread about this on Twitter. Sleeping Giants kept hounding Uber about where their ads were appearing prompting them to dig into it and figure out why, even after they had turned off those ads. This led to Uber figuring out they were being defrauded. …
Over 90% of Founders go out and start their business without any business education. They start because they are good at what they do. Maybe they get frustrated, hit a ceiling, want to chase an opportunity, move faster, or want to remain true to their values. But they are not the serial entrepreneurs of the magazines and Silicon Valley. They are normal people who have an entrepreneurial seizure and decide to strike out on their own.
Disney Stock rose today (Nov 12, 2020) after reporting a loss of 20 cents per share instead of the expected 71 cents with $500M more in revenue than projected. (CNBC)
On this same day total US cases hit 10,500,259 with 242,436 individuals having died due to Covid-19, according to Johns Hopkins University Center for Systems Science and Engineering. This in the context of over 52M cases worldwide and nearly 2M more cases than India, a country with more than four times the population of the US.
On the previous day there were 666 thousand cases reported worldwide with 143 thousand…
The First Critical Process
There are a few critical processes in running your business. And usually there are fewer than we think that are truly critical, the ones that all the others rely on.
I have boiled it down to 5 critical processes for a Physical Therapist Private Practice. They are all similar, if not exactly the same, for most businesses. And focusing on these few critical processes, making sure they are working, is the underpinning to a stable and profitable business.
The first Critical Process is Marketing Activities. I am calling it “Marketing Activities” to emphasize the activity part…
Fast Company posted this challenging tweet and link to a depreciative article on Twitter. The article title is “Brand purpose” is a lie.
I agree with the tweet. A Core Purpose is not something you make up. And big businesses who do this only fuel our cynicism. But Core Purpose in and of itself is no lie, at least it doesn’t have to be.
A meaningful, and accurate, Core Purpose can be part of a Company’s Vision and guide decisions and where it is going. A Core Purpose is the reason the company exists, beyond just making a profit.
And…
Greg Crabtree lays out what he calls “The Four Keys” in Section 1 of his book, “Simple Numbers, Straight Talk, Big Profits!”. These are the “4 keys to unlock your business potential” based on his experiences as an accountant, entrepreneur, and consultant to entrepreneurs.
Section 1, the first four chapters, is so impactful and foundational to growing and operating any business, that I think it should be mandatory reading for all, especially new, business owners. Many of the lessons in Section 1 are lessons that I learned the hard way, over 19+ years, and through many mistakes. Some of them…
I have seen business owners, time and again, frustrated with the lack of results from their teams. And in nearly every case it is because they lack a process to drive their desired results.
In some cases there is no clarity around expectations.
There is no focus on what needs to get done. For example, a front desk worker in any medical practice should have 2 primary job tasks to focus on 1) schedule patients, and 2) collect co-pays.
Sure, they need to do this with a smile and because they care about the patients and want them to achieve…
Sturdy
Business Coach, Advisor and Trainer.
