Category Archives: Business Strategy

Depreciation: Recognizing the Declining Value of an Asset

            Depreciation is more than just an accounting necessity. It has a greater purpose and function. Depreciation recognizes and displays the – The natural decline in value of assets’ fair market values (FMVs); and Allocates the costs of your assets over the time you use them. Financial Statements Effects Depreciation

Change Management: Everyone resists it.

There are few things in business that generate more opinions (often negative) than using the simple word, “change.” Most employees dislike change, even when it’s for the better. Even owners and managers who embrace workplace or procedure changes often are apprehensive about executing successful change management. Managing Your Company Always Involves Change Management Regardless of

Exit Strategy last thing on your mind? Think again.

If you’re like most entrepreneurs, the last thing on your mind is an exit or succession strategy. However, this is is a critical responsibility you should address even before you launch your company. Family businesses often pose even more challenges than the world’s largest corporations. Your exit strategy should address more than just yourself, but

KPI’s measure your company’s performance. Here’s how.

KPI (key performance indicators) are popular uses of contemporary metrics. KPIs give you valuable information about how your company is performing relative to your goals and competition. KPIs help you evaluate your business’s performance and success. Success is a moving, often subjective, target. It all depends on how you define success. Modern technology can help

Importance of Critical Assumptions in Strategic and Business Plans

Critical assumptions are one of the more misunderstood business concepts. If you are among the many, stay tuned. You’ll be confused no longer.   What Are Critical Assumptions? There are many valid definitions but the essence of critical assumptions was captured by legendary economist, John Maynard Keynes. “It is better to be roughly right than

SWOT Analyses made Simple.

A SWOT analysis has been a traditional vital tool of businesses for many years. SWOT still works today as it doesn’t depend on technology, fad or management style. SWOT stands for Strengths, Weaknesses, Opportunities and Threats. Every business, however large or successful, faces SWOT components, which is why its importance continues today. However massive or

Tips for creating your Core Value, Vision, & Mission Statements

Every business, however small, should define its core values, vision and mission. Few businesses are created to earn profits only, although making money is necessary to continue on their missions for the long-term. Expressing a business’s core value, vision and mission is easy and hard at the same time. Founders usually have a clear mental

Look Adjacently for Innovative Solutions

Are you looking for innovative solutions for your business?  Are you convinced that every good idea has already been tried?  The answer is to look adjacently.  That is, look outside of your immediate category to identify successful ideas and adapt them to fit your business. The four friends at ForFriends Inn, a Santa Barbara wine

Define the Brand That Fits Your Business and Live It Everyday

Your brand. It’s the heart and the soul of your business. It informs your philosophy and your products. It’s the emotional connection between your company and your clients. Your brand should be the first element developed in your entire business plan.

Find the Value-Proposition in Your Workload

Congratulations.  You are a business owner and for that privilege, you get to work an 80-hour work week!  It’s a common lament uttered by many and it’s usually the result of the hesitation/inability to hire additional help.  Few businesses enjoy the luxury of having enough hands available for every task.  So, when special projects come