Leadership Thought #442 – A Few Basic Truths About Business
Here are a few basic truths to help ensure your success: It all starts with simple math. The formula is pretty straightforward: Revenue – Expenses = Profit. You need to sell enough of something and price it properly so that it exceeds your costs of doing business. Knowingly taking work at a loss is a […]
Daily Leadership Thought #176 – Don’t Run Out Of Financial Runway
Every company should be run profitably. A portion of this profit should then be saved for future emergencies or needs. This should become the standard approach to managing your organization’s finances.
Daily Leadership Thought #175 – You Can Cut Expenses Too Much
…if you prune a tree too much it will die. It also requires proper fertilization and conditions conducive to growth. The same thing outcome invariably happens to companies.
Daily Leadership Thought #159 – Business Management Improvement Ideas
I often get asked for a checklist of management improvement ideas. While the following list isn’t exhaustive, I believe it is a good start for anyone who would like to audit their existing business situation:
Daily Leadership Thought #59 – Get the Math Right
It’s amazing how many people can’t do basic math when it comes to their business or their lives. Revenues minus expenses equals profit. Profit only becomes cash once it is collected.