Once your business moves past the “dream” stage, it becomes an actual, functioning entity.  It has been born!  This is the second stage in the business life cycle:  actual work. At this stage, you have products or services and you’re delivering them to customers (you have customers!).  You’ve figured out who you are, who your customers are, etc.  More … Read more

Your business is constantly changing.  As time goes by, your business will progress through various stages of the business life cycle. Businesses go through developmental stages the same way people do.  As someone with twin daughters, I know the parenting strategies we used when they were two years old; don’t work now that they’re five.  And … Read more

We are pleased to announce the release of Version 2 of our online Growth and Profit Solutions (GPS) diagnostic.  The online assessment will help you identify your Top 3 Business Growth and Profit issues, assess their financial impact, and develop strategies to address each of them. Over the last three months, hundreds of global business leaders have completed Version 1 … Read more

Arguably, the most common reason that marketing plans fail is that they are never implemented.  Imagine that you spend months and months helping your daughter plan her wedding.  You determine the type of dress she will wear, the number of attendants she will have, the flowers that will decorate the church, the minister that will … Read more

In the last two weeks we have covered the importance of knowing your market and focusing your marketing the benefits your product/service will deliver to the customer.  Today, we will discuss the third reason marketing plans fail:  not knowing your point of difference.  In today’s globally competitive environment it’s tough for businesses to stand out … Read more

Last week I discussed the importance of understanding your market and introduced an exercise called market segmentation to help you identify your target market.  This week I will introduce the second reason that marketing plans fail:  focusing on features instead of benefits. Features are those things about your product that explain what it will do – … Read more

Reason #1:  Not Knowing Your Market Trying to market to a large and general population of customers is a recipe for failure.  A better approach is to more clearly define your target market so that you can focus your time and resources.  A great way to help identify target markets is to conduct an exercise … Read more

Kevin Cain is a CPA and partner at Cain Ellsworth.  He provides clients with tax and management consulting services. Kevin has concentrated expertise working with financial institutions, manufacturers and contractors in a broad range of functions, including facilitating executive, process improvement and business strategy sessions. Kevin is currently a member of Mindshop and is working towards … Read more

Finishing our discussion on the four common mistakes that entrepreneurs make, today we will introduce the fourth common mistake:  focusing time and energy on things that don’t matter. Focusing Time & Energy on Things that Don’t Matter The last of the four common mistakes we’ll discuss is related to the first.  What is the best … Read more

Continuing our discussion on the four common mistakes that entrepreneurs make, today we will introduce the third common mistake:  spending cash on the wrong things. Spending Cash on the Wrong Things People with years of business experience know the value of cash.  One experienced small business owner said, “Profit is like food, but cash is … Read more