News & Views
Managing Change, Plus 7 Steps to Take When Facing A Challenge
I recently read a very good article written by Tony Kubica and Sara LaForest that I would like to share with you. I think it really puts into perspective what owners and business managers need to do when faced with a challenge that requires change. Read more.
Read more: Managing Change, Plus 7 Steps To Take When Facing A Challenge
Managing Stress for Success
Owning your own business brings a whole host of stressful situations to your day to day life. Stressors like issues with staffing, a myriad of frustrations with suppliers, customer demands and the daily management of your company can be overwhelming. Stress is not something that we can see or touch, but it can have devastating effects on your mental and physical health. So how do you deal with stress to limit the adverse effects? Read more.
Are You Prepared For the Off-Season?
If you are a Marine or Motorsport dealer who does not have a winter product to sell, the coming months can be very stressful. Obviously sales will drop off to a trickle, while your overhead and operating expense will continue to drain your cash flow. The question is, are you prepared to meet these business challenges until sales begin to ramp up in the Spring? Read more.
Should You Lay-up Or Go For the Green
I recently read an article written by Nathan Bennett and Stephen A. Miles for Forbes magazine called “Business Decisions Are Like Golf Decisions”. Since I often think of business in golf terms, I thought it appropriate that I should share their analogy with you, because it speaks to the very core of running your own business. Read more.
Successful Solutions Are At Your Finger Tips – Tip of the Month
Throughout this last year I have passed along a tip each month that hopefully has given you some insight into how your financial statements can help you better manage your business. It was apparent that the salaries tip was probably the most popular, and why not, since it is the biggest and most volatile expense on your P & L Statement. However, this month's tip is one that I think is more important than all the others combined. What is it?
Read more: Successful Solutions Are At Your Finger Tips - Tip Of The Mont
Setting Goals For Success!
As many of my readers know, I am a bit of a golf fanatic. To feed my passion, I was watching the golf channel the other night where David Feherty was interviewing Greg Norman (The Shark). For you non golfers, Greg Norman is a very famous retired PGA golfer from Australia. Feherty asked Greg, "We all know you are a great golfer, but what has been your formula for even greater success in business?" Read more.
Is Your Financial Data Accurate? – A Case Study
In the last newsletter we talked about how a shoe box accounting system can cost you profit and possibly much more. So you go out and get an operating system to manage your accounting, but we all know that computer systems are only as good as the people using them. We have all heard the expression, "garbage in, garbage out" and no truer words could be spoken, demonstrated by the following case study. Read more.
8 Reasons to Ditch Your Shoebox Accounting System
In dealerships around the country sits shoeboxes or file folders full of business receipts, invoices, and accounting data. As the months roll by and the data accumulates, your business is sitting on a growing problem. Learn before it's too late why your accounting system can cost your business and more.
Read more: 8 Reasons To Ditch Your Shoe Box Accounting System
Needs Selling Is The Solution!
As I am sure my readers know, the core of Lifeline Business Solutions centres around the Financial Management of a dealer's business operations. Without this fundamental management tool, a business is left to flounder in the dark. Equally important however, is the dealer's ability to effectively sell product at a reasonable margin. Many dealers have told me that this is a real challenge in today's economy, so how do you tip the scales in your favour?
Change For The Sake of Change – Is It The Right Formula?
For some, change is very difficult, whereas for others change is like a medication they must take every day. Typically we tend to resist change because it takes us out of our comfort zone, but how do we know when and what changes we should make in our crossword puzzle to be successful. Read More.
Read more: Change For The Sake Of Change - Is It The Right Formula?
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