In the 1990’s a children’s clothing business nearby to me in Vancouver BC suddenly collapsed. Revenues and profits had grown at a breakneck speed with a multi-location expansion project. But they did not take into account that expansion vacuums up a ton of immediate cash that can only be replaced by profits generated over time. […]
Estimating. Do you WAG, SWAG or use a Stick?
Build Your Business Coaching Pricing Strategies Profitability UncategorizedOriginally published in Cast Polymer Connection, Fall 2017. In so many small businesses goods and services are priced based on guesswork – WAG method (the Wild Ass Guess) or add just a few numbers for SWAG (a Scientific Wild Ass Guess). Perhaps you use the STICK method where every stick and nail is costed out? […]
8 THINGS YOU NEED TO GET YOUR TOUGH PROJECT FUNDED
Build Your Business Business Turnaround Debt Solutions FinancingWhen an acquisition or refinance is turned down by lenders, it is too often because the borrower is not prepared. The following will help you to get your project funded even if the banks say NO! Ability to support the loan. You must have the ability to support the loan payments. This must come […]
10 Reasons Price Matching Is A Risky Strategy
Pricing Strategies10 Reasons Price Matching Is A Risky Strategy: Ask Walmart, ToysRUs & Best Buy (from an original Post on May 7, 2013 by Gilon Miller ) What started as a competitive pricing strategy has turned into a bad dream for Walmart, ToysRUs, Best Buy and their customers. These, and other big retailers are running into […]
QUOTING WARREN BUFFET
Branding Build Your Business Business Turnaround Coaching Pricing Strategies ProfitabilityWarren Buffett, the billionaire chief executive officer of Berkshire Hathaway Inc., said he rates businesses on their ability to raise prices and sometimes doesn’t even consider the people in charge. “The single most important decision in evaluating a business is pricing power,” Buffett told the Financial Crisis Inquiry Commission in an interview released by the […]
What is profit engineering? How to create pre-determined profits.
Build Your Business Business Turnaround Coaching Debt Solutions UncategorizedWe believe that profit engineering is designing your company to produce a predictable, pre-determined profit. I owned a service company in Vancouver Canada that produced a 45% gross margin every month, steadily, for 13 years. So it can be done. And if you have predictable margins you stand a better chance of making a profit. […]
Busy But Not Winning
Build Your Business Business Turnaround Coaching Profitability Sales Uncategorized Work Life BalanceI have several clients and a number of friends and colleagues who equate busy time with productivity. But, being “busy” does not always equate to being effective. Ineffective people abound. From outside they are hard at work with paper, phone calls, emails, meetings and more meetings. Their desks are piled high. They look frazzled. They […]
If you tripled your prices and lost all your customers
UncategorizedIF YOU TRIPLED YOUR PRICES… 4 ROADBLOCKS TO MAKING MORE PROFIT. Businesses can do better- can earn more, owe nothing and be less stressful -but for some nagging problems. If you can solve these 4 problems, you can live the dream. Heck, solve 2 of them and have a better business. Branding If you tripled […]
NOW IS THE TIME
Build Your Business Coaching FinancingAccording to a 2013 TD report, a huge percentage of their business clients had no exit strategy. Some 50% of the baby boomers, who had built their business, were simply going to lock the doors and go home, when retirement day arrived. They are on the Freedom 85 plan. Since that time, some companies have […]
The Art of the Business Turnaround and Corporate Renewal
Coaching Debt Solutions Financing Pricing StrategiesWe would all like to own a business that just grows and grows whilst pours money into the bank account. What a dream that would be! But the truth is that many businesses go through periods of slow or reverse growth that tax the ability of the owner to keep going, draining resources, losing sales […]