Nearly every business is dependent on a constant flow of new accounts. It’s easy to ignore this because most businesses earn most of their revenue from old, established customers. The problem is that a certain percentage of old customers will drift away or change their focus every year. They’ll change their buying habits, often for reasons that you can’t influence. (more…)
Family business transition planning is frequently predicated on the assumption that someday the parents will be passing on the baton to one (or several) of their own children. What more satisfactory way of crowning their lifelong efforts and hard won success than to pass on the legacy to their own kin so they too can continue to enjoy and prosper from it. (more…)
Financial ratios can be helpful tools in understanding a company’s financial health. They are a benchmark by which you can compare your business to industry standards and analyze changes over time. (more…)
Not only will we have a new generation of consumers, future employees and business owners but we can expect other significant changes in the coming decade. Here’s a quick bird’s eye view of some of the coming changes we can expect in the way we run our businesses. (more…)
