Most of us know the basics of the McDonald’s story. I consider it required viewing for anyone wanting to scale their business or evaluating their business model. Kroc was the visionary. He took the well-oiled prototype and replicated it across the U.S. and the world. Of course, along the way he added management structure, HR standards and tight quality control.
It is surprising how many business owners and leaders do not keep an eye of their financial ratios, a fundamental barometer of the health of your business. Whether you track these ratios or not, others will. Potential buyers, bankers and investors will analyze trends and compare your company’s ratios to industry peers. Their determination of value and/or potential investment is ultimately at stake.
There’s an old sales proverb that says……… “Nobody likes to be sold, but they love to buy.” In this article by Business Collective, you will learn how to pitch your company for a sale within sixty seconds. Why is this important? When it comes to selling your business in any economy, it can mean the difference between a “yes and a “no”.
How you set up your company can have a big impact on the success of your business. This article from Chase.com explains why.
I was recently the guest speaker at a class on Entrepreneurship at Seattle Central Community College. As it was, I also happened to have just seen the movie Field of Dreams with my son (remember that classic?). As I was trying to communicate to this young class the elements of a successful venture, I related to Kevin Costner’s struggle and ultimate success.
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