A forecast is an educated guess that looks into the future and attempts to determine what and how much you are going to sell, towhom you are going to sell it, and when delivery will be required. Forecasting is used to project financial, personnel, production, material, and capacity needs beyond the immediate horizon. It helps develop a “single demand view” that an organization can use to plan its operations. If successful, it maximizes capacity, helps promote customer satisfaction, and helps you take advantage of market opportunities. (more…)

All businesses have systems. They make the wheels of your business machine turn. Some systems are formal and many are informal. Systems that are informal can keep your wheels from turning smoothly when it comes to day-to-day operations, closing sales and ultimately selling or passing down your business when you are ready to retire. You can avoid major accidents and breakdowns by creating and maintaining formal, written systems that will grow and distinguish your business. (more…)

In a world of newfangled management theories, there may still be nothing that transforms a company quite like keeping promises to customers. Especially when those promises are in writing. (more…)

A singled-minded focus on growing revenue can kill a business irrespective of how profitable it might be. All too often business people ask “so where’s all the money gone” even though their business has made a profit. (more…)

Running a business without a budget is like navigating a ship without a compass. Setting aside time to examine and revise your budget periodically gives you more options when making important decisions about where your company should be going and growing. (more…)

While small businesses have to be ever vigilant in how they spend their money, a consultant can be an effective resource for pushing the business into the next stage of growth. A con-sultant can also offer a valuable outside perspective for businesses that are struggling. (more…)

The current economic climate is providing business with challenges not seen in many years. Some of these challenges may already be crystallizing in your business, while others may be emerging on the horizon. (more…)

If your vendors don’t have enough capital to stay in business, your business can’t capitalize on them. Making sure that your subcontractors, suppliers and vendors have good credit standings and enough credit to remain in business provides a degree of certainty that they’ll be able to deliver services or goods that you need. (more…)

It can’t be said enough—today’s market-place operates at breakneck speeds. In almost every segment, a customer can have a change of heart and a new priority overnight. (more…)

Whether it’s personal or business debt, the very word can inspire a sense of doom and hopeless-ness. But there are several strategies for small businesses with large debts or financial struggles. (more…)