I talk a lot about leverage. People usually think about systems or automation as leverage but, have you thought about people or organisations? Someone or an organisation that solely focuses on an area in your business is going to have significant knowledge and...
Did you know... Ace Hardware is a hardware store that was formed in 1924 by Richard Hesse, E. Gunnard Lindquist, Frank Burke, and Oscar Fisher in Chicago, Illinois. The company became a cooperative in 1973. By 1976 Ace became a retailers' cooperative. Independent...
Often Risk events may result due to lack of cash or may result in pressures on your cash flow. One thing I have learned many times in business is when you need access to Cash you can never get it. You see no one wants to share your Risk or transfer your Risk to...
Because it’s your investment of time and money that is at stake, you need to consider all of the pluses and minuses involved in buying a franchise. Below are five main advantages and five main disadvantages of buying a franchise to help you along in your due diligence...
Definition: the quality of being able to adjust to new conditions. More than ever it has become essential to have a business that is able to adjust for changes that may occur. Having been in businesses for over 25 years this specific requirement has evolved to be an...
Did you know… It all started back in 1938 with a killer recipe. The original formula for DQ's soft-serve ice cream was created in 1938—though the first location of Dairy Queen didn't open until 1940 in Joliette, IL. The shop is still there and is now a city-designated...
There is an area of Risk which is everything else you can not control. This is HUGE. This includes competitors, regulation, pandemics (eg COVID 19), weather events, natural disasters, stock market crashes, war just to name a few. With this area of risk, it is more...
In the past year, the turmoil from the pandemic has made all sorts of changes. Many types of businesses relocated to home offices while others went out of business. Most industries had to rethink their operation to stay afloat. Layoffs and furloughs were commonplace,...
Hot tip about Risk. A great place to start your relationship with risk is to engage the services of an experienced and highly knowledgeable Insurance Broker. They are in the business of Risk and can conduct a complete review of your business, potential risk areas, and...