A little classic today you can do at home! Every business has a different set of economics but every business has one common element, they all have a break-even point. First establish your Gross Margin %. That would be your sales less your variable costs = Gross...
In the last few weeks I was reminded of this dilemma by Seth Godin in his start up podcast and in Derek Siver’s great book – Anything You Want. As the owner of an SMB are you and your team trying to find new customers or should you be focused on finding...
Most entrepreneurs run their business like an upside down pyramid: As they get bored with one activity they diversify into another activity before they have scratched the surface on the first activity. Their idea of strategy is represented by a long flat line of...
Ben Worthen at the WSJ wrote a very compelling piece last week – Start-Ups Emerge as Tech Vendors of Choice. Owners of sub $50m businesses should take note of Ben’s points: Vanguard Health Systems spends $100m on technology and buys from the Big Guys....
My post this week was inspired by the book Great By Choice: Uncertainty, Chaos and Luck – Why Some Thrive Despite Them All by Chris Collins and Morten T. Hansen. As the authors illustrate so well there are times in life that are jugular key moments. Bends in the...
“We are all entrepreneurs but only the lucky ones know they are” Muhammad Yunus Nobel Prize winner & Founder Grameen Bank. The degree of difficulty of building a business worth $10m or more is almost impossible. You may look at a few superstars...