Nolette said that you should always negotiate from a position of strength, which comes from information. Find out what is motivating the other side by starting a dialogue. People love to talk about their businesses. By asking simple questions you can learn a great deal and strengthen your negotiating position. Ask about the competition, the customer base, vendor relationships and contracts with key suppliers, margins, key personnel, etc. Continue Reading Challenging economy means challenging negotiationsContinue reading …
If you plan an integration project this year, Nutter said you should clearly define your objectives and avoid custom software because it never seems to be “finished.” He recommends buying off-the-shelf software if you can, because the cost savings is worth the compromise. Continue Reading Seeking out advice can help in tough economic timesContinue reading …
Growth is good, but poorly planned growth can kill a business.
Most businesses strive to achieve strong year-over-year-growth for the long term. However, when a business grows too rapidly there can be tremendous pressure put on cash-flow management. Continue Reading Without proper cash flow, growth can kill a business
Health insurance premium rate increases are nothing new. But how much more can businesses take without significantly impacting the bottom line or forcing major changes in the benefits programs offered? Continue Reading Health insurance rate hikes making businesses sickContinue reading …
Maria Mangus once said, “Inspect what you expect and expect what you inspect.” Good advice for a business that wants to grow and thrive.
It’s easy to say, but can be one of the toughest things to do because the temptation to track everything seems to take over. Continue Reading Knowing what to track key to performance indicators
In certain circles, outsourcing has become somewhat of a dirty word.
Some say that great sucking sound we hear is all the good jobs leaving American soil and being replaced by low wage service jobs. But, in fact, outsourcing remains a very important part of the overall business picture today. Continue Reading Outsourcing still viable as a business strategy
Hiring the right people has always been vital to business success. Based on current demographic trends, it has taken on an even greater significance.
Baby boomers will start to leave the market in droves during the next 10 to 15 years. The population in the succeeding generations of X and Y is smaller0 than the baby boomer generation, creating a much tighter labor pool. Continue Reading Hiring top performers key to finding top talent
Getting your daily required bran is important to your health. And, getting the required branding in your business is equally important to the health of your company.
Many people are confused by branding. “Often people think the brand is the company’s logo,” said Carol Chapman, principal and co-founder of The Brand Ascension Group in Colorado Springs. “They believe having a logo, a Web site and a marketing plan takes care of branding.” Continue Reading A daily dose of branding is good for business
Debt has been getting a bad rap lately.
U.S. consumers are in love with credit and seem to have an insatiable appetite for it. Some economists predict that the country is headed for a major credit hangover. That view and recent headlines are casting a negative shadow on debt in general. Continue Reading Sometimes, taking on debt is good for business
Growing a business through acquisition is not a new concept.
Whole Foods acquiring Wild Oats Markets has made recent headlines. The Comcast-Adelphia acquisition was big news. It seems to be almost a daily occurrence. In fact, in 2006 there were 8,203 completed mergers and acquisitions in the United States, up from 7,600 in 2005, according to Thomson Financial. Continue Reading Home-grown businesses often merge for growth