understand how money works

Understand Critical Mass and Build a Self-Sustaining Business

By Asa Beavers | financial management

A business is a living thing, and living things change. Like trees, your business is either growing or it’s dying. It’s dynamic and it’s changing. It may be because the economy forces it to, or because customers need change, or because employees change, or because new products and services enter the market, or because a new competitor enters the market. There could be a dozen reasons. But those changes occur, and you may not be aware of them at first. They are often hidden. If the changes are bad, and you’re not on top of them quickly enough, they can destroy your business.

One of the best ways to identify how things are changing in your business is to be plugged into the numbers. When you plug into the numbers you will have a better understanding of what cash flow is and figure out in advance where it’s going to come from.

If your goal is to build a profitable business, here's ideas on how to measure your progress...

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setting expectations

Here’s How to Set Clear Expectations

By Asa Beavers | managing people

As a leader in your business people are looking to you for direction. Everyday you have opportunities to elevate the performance of your employees. These are coachable moments where your role is to help your employees reach their full potential. The real question here is, “how are you doing at this?”

As busy leaders we often overlook these moments and lose the opportunity to show how much we care about our employee and their performance, whether it is through encouraging good work, or challenging poor performance. We especially avoid coaching poor performance because we may think that if we ignore the problem it will go away, or we choose to avoid the confrontation, or if it’s a minor issue we don’t want to make a big deal of it.

But the fact is, people crave feedback from their leader and you have to find ways of letting employees know that what they do matters to you. Good performance matters to you and should be encouraged. Poor performance matters to you and should be challenged.

Here are some ways even the busiest business owners can quickly and easily coach their team members...

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keeping customers coming back

The Mystery Of The Forgotten Customer

By Asa Beavers | customer retention

“Thank you for your business. Hope to see you again soon.” How many times have you heard that in your life as a consumer? As a business leader what irks me most about that statement is the word “hope”. Hope is not a business strategy, yet our team members use it as a parting gesture as our customers are leaving our business for what could be the last time. If we allow the customer to walk out of our business without securing some way of staying in contact with them, they soon can become one of the forgotten.

When you have customers who have bought from you, doesn't it make sense to find ways to get them to return again and again? If you're not doing this already , start here...

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leadership sets direction

When Leadership Veers Off Course

By Asa Beavers | leadership

In case you’re wondering, leaders make mistakes too. Leaders can veer off-course just like anyone, sometimes creating havoc in their wake. They’re human just like you and I, but the difference is, they chose to put themselves front and center. Whether leading a large company or institution, a middle manager leading a work team, an entrepreneur leading a small business, or a volunteer taking a lead role in a church or school, being a leader requires an individual to put themselves out there for all to see, judge and critique. When things are going good their stock rises and those following feel secure. But when that leader stumbles and brings into question their ability to lead, the grumbling begins and that feeling of security starts to crumble.

As a leader of a small business it's easy to become distracted, and when you are it can have these consequences...

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6 keys to a winning team

6 Keys To A Winning Team

By Asa Beavers | team building

When you hear the word “team” what do YOU think of?  As a guy, when I hear the word “team” it conjures images of sports teams. Wikipedia defines “team” as a group of people linked in a common purpose. When we talk about sports teams the common purpose is simple: it’s to WIN. But when it comes to the people you employee in your small business it’s not so obvious.

Sure, you call them your team, but are they really a team? I’d say no, not if they don’t fully understand the common purpose of your business. And let’s say winning is the common purpose of your business, then how do you define winning in the context of your business? Well, I contend that really depends on what you define as your score, and how you share the score with the team.

So, unless you can get it all done in your business by yourself, these are important questions to consider. Especially if you’re the person responsible for the success of your business – I think you know who I’m talking about – you, the leader.

If pulling a group of employees together to form a team is important to the success of your business, then take a look at these 6 Keys To Building a Winning Team.

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handling bright shiny objects

What You Need To Know About Bright Shiny Objects

By Asa Beavers | time management

They come in all different shapes and sizes. Some are monumental distractions and time-wasters. Others are opportunities that seem almost too good to pass up. The one thing they have in common is, you and me and other entrepreneurs who constantly have their radar up and attract these things known as Bright Shiny Objects (BSOs).

If you're affected by BSO syndrome here's ways to quickly determine if something is worth your time to explore...

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