How Measuring Your Return on Capital Employed is Critical for Financial Health There are so many ways to measure a company’s financial success: profit margin, return on equity, and return on invested capital. Return On Capital Employed (ROCE) is a lesser known but equally important financial indicator. ROCE is especially useful for evaluating your company’s […]
by Michael Iverson Interviewing job candidates can be a task dreaded by entrepreneurs. Why? Some have nagging doubts because of one disappointing hire. Others don’t have patience for what they perceive to be a long, drawn-out process that may end in a compromise rather than a perfect fit. Here are six interview questions that can […]
by Tim Fulton, Small Business Matters How often do you get “stuck” on a big strategic decision? If you are like many small business owners, the answer is “too often”. It may be a key employee hire, a capital decision, the purchase of a large fixed asset, or may be a decision to exit the […]
by Michael Iverson Working closely with entrepreneurs, I think I can say that most enjoy their work to a high degree. As a group, they are upbeat and passionate about business. Most control their workplace environments, their hours of operation, and the people who work with them. All of those things make coming to work […]
The “Oracle of Omaha” has created an impressive following of people and his investing results have proven the test of time. Below are some simple bits of wisdom that I believe are timeless. Never lose money. Buffet’s rule # 1 is to not lose money. And his rule #2 is to remember rule #1. Keep […]
There is a belief that the best way to improve your work productivity is to emulate the habits of someone highly successful. John D. Rockefeller, who founded the Standard Oil Company in 1870 and ran it until 1897, is one of the true titans of American business. And so, the book Mastering the Rockefeller Habits […]
In the era of smart phones, smart cars and smart homes, you might feel advice about tracking your business results with an old-school number 2 pencil is a little out of step. You shouldn’t. There is an old saying: “From lips to pencil tips,” which suggests that by physically writing your key figures you become […]
Sometimes business owners get into difficult situations because they don’t understand the likelihood of crisis and are unprepared when it strikes. One of the most likely kinds of crisis is a liquidity crunch. A liquidity crunch can occur as a result of a customer extending their time to pay you. This event may come […]
by Anne Moore Odell Sometimes, it can feel like your hands are tied when it comes to costs—everything from rent and salaries to materials. As you closely examine every line of your company’s income statements looking for ways to cut costs and grow profits, pay particular attention to direct and indirect costs as two levers […]
by Michael Iverson Every so often, I am surprised by a company that dramatically changes its industry. And, I wonder to myself: How did they do it? My business reading list this year took me to a business classic called The 22 Immutable Laws of Marketing. The authors, Al Ries and Jack Trout, provided an […]
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