Businesses need mission statements to tell the public and especially their customers what it is the business does.
One of the early-developed lean tools, developed in the 1930’s, is The 5 Whys. It is a problem-solving technique developed by the founder of Toyota Industries Corporation, Sakichi Toyoda. It's also useful for solving your business problems, regardless of your industry.
Companies using a calendar year to do their financial statements need to take this time of the year to do budgeting for next year. Budgeting? Why would a company need that? Just do their thing – sell and hope for the best? That’s NOT a good way to run a company. Not good at all. All the big corporations budget everything – sales, expenses by category, cash flow, etc, etc. And, they do it on a quarterly basis. Why? One, they want a target that they believe they need to hit and so they then plan what they must do to hit that target. And, secondly, they use it for accountability – to measure the performance of each subsidiary or department that fed their budgets into the overall budget. Planning and accountability.
Common reasons customers abandon carts and simple, strategic changes you can make – including user experience tips, returns solutions and more. Read more
November 30: Work Smarter, Not Harder - How to Systematically DO the Highest Value Activities in Your Business
In the face of competing demands for your time and attention, we’ll bottom line the way to actually DO “working smarter”. Read more
From initial startup investments to deciding when is the right time to hire employees, business owners are constantly evaluating the impact of financial decisions. Read more
Many individuals are realizing that franchise ownership could be the pathway to the American Dream. Not sure if franchising is for you? Join us to learn more! Read more