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On a recent business trip to Washington, DC, we used lots of Uber and Lyft rides. When we asked the drivers about their costs, the economics were interesting. “I pay $25 per day in fuel.” He was driving an older Toyota Camry. Question: how high are your operating expenses? “I pay $40 per week in … Continue reading Minimizing Expenses or Maximizing Profits?

On a recent business trip to Washington, DC to host my first SME Advisor® Global Mastermind Group, we had several first hand experiences using Uber, Lyft, and local taxis. Here is what we learned from the drivers, and include some of their “quotes:” “Uber seems more concerned about increasing quantity, not quality.” We agree. Our … Continue reading Business Lessons from Uber Drivers

Following up on last week’s article on the Four Ps of Pricing, let’s discuss the strategic purpose of pricing. Here are the Four Ps of Pricing. 2. Purpose My favorite quote is, “when you buy quality, you only cry once.” We all know that you get what you pay for, and that cheap stuff is … Continue reading The Power of Pricing

Earlier this week, I gave a presentation on pricing to Women Entrepreneurs of Saskatchewan, or WESK. Here are the Four Ps of Pricing. Psychology Now, what does psychology have to do with pricing? I’m glad you asked. Our pricing is based on our belief in the value of our products and services. That belief depends … Continue reading The Four Ps of Pricing, and Why Psychology Matters

Based on almost three decades of consulting and speaking with hundreds of business owners and lots of bankers, the most common weakness in high-growth companies isn’t a lack of customers, capacity, or courage. It’s a lack of sophisticated financial management. This results in lousy data, impossible analysis, dire decisions, ineffective allocation of capital, and rotten … Continue reading 14 Reasons Why High-Growth Mid-Market Companies Need A Strategic CFO

Astronaut Richard Hadfield, former commander of the International Space Station, talked about a rocket’s launch velocity during his MasterClass presentation. He said that there is an optimal launch velocity to get the rocket into orbit. Going too fast is not good because it creates more friction that you need to overcome by burning more fuel. … Continue reading How to Manage Cash Flow in a High Growth Company

2019 is fast approaching. Is your business ready for 2019? Do you have a…(wait for it…four letter word coming)…PLAN? When I first started consulting in the early 1990s, I used to prepare thorough and lengthy 30 + page business plans. The bankers loved them because it gave them all of the information they needed for … Continue reading Building Your Business Wealth Today And In The Next Year

On a recent coaching call with a European client who works with Fortune 500 CEOs and executive teams, we were discussing how the best executives manage their time, energy, and resources to generate results. From my perspective, there are three levels of how executives function that drives where they spend their time. The structure is … Continue reading The Three Levels of CEO Executive Function

Last week, I introduced the Strategy WheelSM. This special issue is a little longer in length because I want to present the ideas and framework all at once so you can start using it right away. As you know, speed is important in business! What Is Strategy and Why Does It Take So Long? I … Continue reading Three Keys to Using the Strategy Wheel^SM to Grow your Mid-Market Company

Last week, we discussed going Back to School and how it was clear to everyone that you were promoted to a higher grade or year in college. This week, I want to discuss how to assess which grade you’re currently in, and how to get to the next grade using my new process called the … Continue reading Making the Grade in Business Growth with the Strategy Wheel^SM