It is scary to me how many business owners cannot read their own company financial statements let alone understand them. Any business owner who wants to grow their business should have at least a basic understanding.
So here we go:
The two basic Financial Statements are the Balance Sheet and the Profit & Loss Statement or P & L.
NO! It’s a simple word but can be incredibly powerful for business owners.
When working with my clients to help them figure out why they spend all their time working with their clients but are failing to be profitable. I often learn that the owner is spending time and resources on clients whose demands are outside of the businesses capabilities. Even more discouraging they are failing to grow their business. In the owners desire to get the sale they do not recognize that their business is actually losing money by trying to meet a client demands. These very clients are usually “Time Vampires” and need to be fired.
Your ideal client is an individual with a name, a picture and specific demographic and other characteristics. An ideal client is not a real specific person; it is a composite of characteristics of many real people. You are describing your target client; the people that you want most as clients.
The concept of the “Mastermind” was formally introduced by Napoleon Hill in his timeless classic, “Think And Grow Rich,”. Hill’s book recounts how many successful business people rely on a small, tight-knit group of advisors to help them build their businesses.
However, Mastermind Groups have been around since the beginning of time. History is full great achievers who have built mastermind groups. Jesus Christ had a mastermind team of twelve apostles. Benjamin Franklin formed a weekly discussion known as Junto with twelve men who shared his drive for learning and conversation. The result of this group led to a library, a college, the U.S. post office, Philadelphia’s fire department, mutual insurance and Philadelphia’s city water works. C.S Lewis, J.R.R. Tolkien, Charles Williams and others know as the Inklings met on Thursday evenings in the late 1930’s thru early 1940’s at Oxford’s Magdalen College rooms to read aloud from their works, discuss philosophy and exchange ideas. As a result many literally works were published including, C.S. Lewis’s “Out of the Silent Plant”, J.R.R. Tolkien’s “Lord of the Rings” and Charles Williams’ “All Hallows Eve”.