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.
A couple of years ago, I was retained to help a struggling business regain its profitability. After six days, I told the CEO that the problem was not sales-related. The problem was too much overhead and debt. The CEO disagreed with my assessment – and to my great relief my contract was quietly terminated. The company went out of business eight months later.
Running a debt-free business is probably contrary to everything that you have ever learned. And you might wonder why you should do it.
Okay so you have come up with a brilliant business solution that solves a problem, attracts new customers, improves processes or grows revenues, you’ll need buy-in from those who need your solution and possibly outside investors to turn your vision into reality.
Effectively pitching an idea can mean the difference between, well, swimming with the sharks and being eaten alive. These tips can help you create a winning pitch:
The chaos of life affects us all at some point in time. We get a setback at work. A setback in our relationship, in business and sometimes that setback can make you question everything. You freeze because you don’t know what to do. You are so emotionally wrapped up in the shock of what happened that you cannot think straight.
Here are 3 Tips I recently used to forge ahead when things got tough: