March Madness or March Sadness?

March Madness or March Sadness?

Can you believe that almost 3 months have passed since the New Year’s celebrations? A few weeks ago, I read a quote about time on Forbes which basically stated that time is the only commodity you need to generate money. And it struck me how strongly I felt about it. I thought it was the rashest rationale ever. First, you can’t leverage time! It is a man-made construct to satisfy our psychological need to anchor our perceptions from to moment to moment as reality that hold true forever and it comes into a finite packaging. 24 hours in a day; 60 minutes in an hour and 60 seconds in a minute; not one more! If you have only 24 hours to make money by “selling your time”, you can only make a finite amount of money. Now, if you are selling “value” as opposed to time, the more value you deliver, the higher the price, regardless of time. Second, if that quote held true, then every single entrepreneur who had a plan, goal, milestones, or even the faintest idea of what the new year will look like in terms of revenue, would have achieved their objectives. We were all granted the same amount of time. Is that what happened? Has every entrepreneur out there achieved their financial goals? If you have, congratulations! If you didn’t, why? You probably have heard this anecdote before, when Bill Gates and Warren Buffet each took a piece of paper, and without consulting each other, wrote down what’s responsible for their success. They both chose the same word: FOCUS. Focus is the hardest thing...

Small Business: 3 Signs You Need a New Strategy

Uncertainty of the Future Whether you own an established business or a startup, the day-to-day hustle of running a business can send your intentions to oblivion. With fires to put out in every corner, you are drawn into a reactive state of mind that you carry with you into the next day, week and year. With a coherent strategy, your company will have identifiable business objectives and a specific set of tasks to fulfill them, putting control back into your hands. Objectives are used to develop short to long-term growth and productivity plans, essential for the sustained success of your organization.   Lack of Accountability Every single problem is dumped onto your desk. From front line employees to middle management, they identify the problems and expect you to come up with the solutions. Yet they argue about why your solutions will not work. Business strategy creates an environment and culture where people are empowered to think for themselves, develop their own solutions and work together to implement them, owning and accepting accountability for their implementation. Also, leaders invested in a strategic planning have greater internal focus and are less likely to let outside factors and influences negatively weigh them down. With their strong belief that outcomes are not outside their control, leaders take responsibility for their actions and people are more willing to support and follow.   Lack of Time How many times a day do you say, “I don’t have time” or “I don’t have enough time”? Lack of time is a common problem that plagues small business owners. A business plan and strategy will allow you to...
3 Major Reasons to Forecast Your Future Performance

3 Major Reasons to Forecast Your Future Performance

Financial Projections Definition: Estimates of the future financial performance of a business . Planning out and working on your company’s financial projections each year could be one of the most important things you do for your business. The results–the formal projections–are often less important than the process...