In an unpredictable world, even the smartest and shrewdest business leaders need a little help growing their enterprises and earning a reliable return on investment. To that end, Devoted Enterprises in Minneapolis, MN, would like to talk about their latest online tool, the Business Health Check. This simple web assessment was designed to provide critical insights for your company’s key decision makers, allowing them to make important considerations before moving forward with certain plans. When making the right decision could mean the difference between real growth and barely staying afloat, a Business Health Check is a very valuable tool.
A few weeks ago, we did a five-week series on our Tuesday tip of the week. It got so much attention that we decided to put it in writing so we can help even more people remove the barriers to business growth. We believe that there are 5 major things (and many more small things) that prevent most businesses from growing. Most, if not all of what you will read here transcends all industries and all professions! We want your business to be successful and because of that we want to share these 5 points with you.
1998 Versus Today
It has been 20 years since I moved my life from small town North Dakota to big city Minneapolis after college for my first big job offer and most of us would agree that many things have changed drastically since 1998. Especially in the way people do business or shop for the things they need. Most of us would also admit that the business we own, run or operate has also changed dramatically. But sadly far too often, we encounter businesses that are still stuck in 1998 in the business using methods, training, marketing tactics, commission structures and layaway programs created in 1998 ( or older). You might be asking how can that be? Being self employed now, we have asked ourselves that same question since our company began. Here is what we found. Continue reading →
“Waiting is Not Passivity”
If anyone knows me, they know that I offer many “Vernisms” and that this is one of the favorite quotes that I have used over the years (along with “it is what it is”). I use it because most people who want and expect change actually do very little about making that change happen. We can attest to this with the vast majority of clients that we help. Most of our clients are facing situations where some significant changes need to be made for their own good or to survive and it still takes them 9-12 months to decide to actually make those changes. We can even hand then a detailed plan and it will sit on the desk collecting dust. Waiting is detrimental to your success and is actually far more harmful that at least doing something even if it is the wrong thing. How much better would you be today if you acted and changed 9-12 months ago?
So, if “Waiting is not Passivity”, then why did I tell you to W.A.I.T. if you want success? Since we do a lot of change management and help business owners succeed, we have come up with 4 clear and concise directions on how to make meaningful changes in your business and to make it grow. We want to share those with you now so that the wait can be over for you.
Many of the business clients we work with invest their wealth into properties and real estate. Commercial Real Estate has always been said to be a “safe bet” as an investment for your wealth. But as anyone who owns commercial real estate can tell you, it can come with it’s share of headaches. So What are those headaches?
Most people think that a business plan is for start-ups or are only necessary to obtain funding or attract investors but in reality they should be so much more! Many studies have shown than nearly 90% of business fail and go out of business in 10 years or less. Those same studies also reveal that almost 90% of business do not have a formal working written business plan in place. We believe firmly that most business failures happen because they are unable to weather the storms that happen with every business and some other major ones that happen in unfortunate circumstances. Businesses that are prepared for all things and have a contingency plan will always outperform those that don’t and will be able to survive most major challenges that arise with much greater ease.
From full-sized companies to startup businesses, even the most successful of ventures has room for improvement. A steady focus on business development is essential, and many of the best practices are long-term strategies that focus on stamina and continual growth over the years. Devoted Business Development in Burnsville, MN, brings extensive expertise to the field of business and management consulting, and they have a few tips for maximizing success.
3 Tips To Maximize Business Development
As a business owner have you missed family functions due to work? Your kids’ special occasions or milestones? What about anniversaries? If so you are not alone! According to a study done in mid-2016 of businesses owners in America we find that 81% of them didn’t take a vacation of more than 2 days off in the past calendar year. Of the 19% that did, 89% of them suffered from work distractions such as calls or emergencies that they couldn’t unplug from.
96% reportedly missed special events and things such as birthdays, anniversaries or holidays for work and 75% reported that they dreaded coming to work in their own business! This does not sound like work life balance to us. Is it true that work life balance is impossible? We believe that it is not only possible, but achievable in ways that are easier than you think.
A positive organizational culture is crucial to an organization’s success. Organizational culture is shaped by many factors, leadership chief among them. The values, vision and goals of your organization come from the top down. Management’s actions can encourage a quality culture that keeps employees happy, attracts new talent and builds an excellent job environment. Likewise, leaders may negatively affect the culture and destroy what is great and successful about a business. We have seen multi-million dollar businesses go from successful to bankrupt in a matter of a year. It doesn’t take long to mess up a good thing and sadly it takes a long time to fix the chaos that it can cause.
At both the Small Business Advisory Board and Devoted Business Development, we have a passion for businesses and the success and work life balance of their owners. We have this passion because it became clear to us early on that the majority of businesses fail after they achieve that first level of success and growth. That seems so ridiculous and defeating but it is true. The good news is, that it doesn’t have to happen! You may be asking yourself how can you prevent this if it is so common…..