Articles

While there is no magic formula for increasing profitability, there is a step-by-step process that can be applied to your business to discover the unique path that will result in the growth of your enterprise.

Increasing profitability requires a well-thought-out strategy based on calculation and the development of what-if scenarios. After all, a change in one factor is going to affect other factors.

How to get the information you need to manage your business

How to get the information you need to manage your business

In my last couple of articles I talked about using your numbers to help you manage and grow your business. The following is real life example of how a client used this concept to help grow his business…

Okay, savvy business owner. Here’s a question for you. You have to get from point A to point B in an unfamiliar city. What one item will virtually guarantee your successful arrival?

In my last post, I discussed how critical strategic planning is to creating success in business. It is absolutely fundamental, and yet most business owners fear and avoid the process. In fact it isn’t all that intimidating when you break it down and approach it logically. The strategic planning process involves exploring and answering three key questions.

Over the past couple of months as the oil price has plummeted and the economic outlook has changed, I have talked to a lot of people – including business owners and market place experts – listened to, and read many media reports all related to what the recent drop in oil prices means for Calgary’s businesses. That said, I think the most pertinent report I have heard yet was just this past week on the radio station CHQR.

Sales do not happen overnight. Rather, successful businesses take the time to plan out their sales, understanding when the ebb and flow in their business happens, who their ideal customers for their product / service are, what are their motivating factor for actually purchasing, and that not all sales are going to be equal.