What comes to mind when someone talks about budgeting? Corporate mumbo-jumbo, complicated, unnecessary, and I'm sure there are plenty of other colorful adverbs to add to the list. I'm also pretty sure that when most people think of budgeting, they view it in terms of managing expenses. I like to view budgeting from a revenue and profit perspective, with the purpose…
I rarely hear people say that they really enjoy meetings. On occasion however, I do hear about the ‘odd’ repair facility that holds dynamic meetings. I’ll be the first to admit, when the idea of a meeting comes up, I’m not jumping up and down to attend.
Why is it, that meetings are looked down upon? I believe the people that are organizing the meetings don't have a good… Continue
Added by Bill Park on July 28, 2011 at 4:50pm —
In the last 2 weeks I have spent most of my time on reports, specifically, the type, the use, the value, and various other functions. I also mentioned in my last blog how delivering the results in person can be a great way to have a meaningful conversation with staff. Having… Continue
Added by Bill Park on July 24, 2011 at 9:52pm —
My post for this weeks second installment is a bit late, sorry for that. I’ve been working on a cool project and we got carried away the last few days. A few of my friends and I were chatting over a few adult beverages about a month ago, and we stumbled on the topic of hiring people and how resumes are a waste of time.
One thing lead to another and we penciled out a solution,… Continue
Added by Bill Park on July 22, 2011 at 6:41pm —
Well-designed reports contain large amounts of useful information in a time series, making them a valuable data repository. More importantly, if the report covers the right questions, the process of gathering the information can generate valuable insights for your team to act upon.
That information also allows stakeholders to extract trends and status, and if you deliver them in person or… Continue
Added by Bill Park on July 17, 2011 at 3:43pm —
I don’t think anyone would argue that business reports are an important part of being successful. I also believe common sense comes into play also, however, without specific information, it is difficult to make sound business decisions. Here is the question: How do you take your reports and use them in a tactical way to support your companies overall vision and strategy for growth? In the last blog post I provided a short list of what I believe are the essential reports to grow your…
I have to admit I love looking at data and trying to pick the fly sh*& out of the pepper. There is nothing more satisfying than identifying how you can grab a few more points. However, running your business is more than just diving into reports to squeeze a few more dollars out, it's about building a machine that can grow, prosper and fulfill your vision.
In the first post of this series on: Financial literacy, the path to increasing your profits by 30%, I discussed how to use some basic lean management principles to clean and organize your balance sheet. In today’s post I will cover the same principles as it relates to your P&L statement.
The balance sheet is the ultimate scorecard, it keeps track of the companies assets, liabilities and equity. In other words, it keeps track of what the company owns, owes and how much the shareholders invest in the business, as well as, how profitable the company is over time.
Here are some steps to ‘go lean’ with your balance sheet:
Over the past several months I have been working hard on finishing up my website, www.mpoweru.co, which by the way will launch in the next few weeks. During the development and content creation I would have random thoughts and ideas that turned into my blog posts. Ironically enough, know that we are on downside…
The field of coaching and business development has really taken off over the past several years. I think more and more people are understanding the benefits of having a professional coach/mentor/partner in creating the business and/or life one desires. I know that I have.
I also know that when I reach out to those pro's I better be…
How many financial stumbling blocks do you have in your business? If your like most, a fair amount, the good news is, you can turn those stumbling blocks into stepping stones. I can't stress how important is to have your financial house in order, and one of the big mistakes small business makes is viewing their business as their own personal bank. If you are serious about building a business that is a true… Continue
Added by Bill Park on June 19, 2011 at 6:29pm —
This picture really has nothing to do with this post, I just thought it was cool..Anyways, back to the topic. Whenever I get thinking about my business or if I'm helping a client, the first thing that I always do is check my thoughts against this question: Why am I doing this? Here is the answer to the question, and it was… Continue
I think one of the reasons most of us are in the collision repair business is because we like to fix cars. It is something that we have always done, and one day we realized we could make money at it. I know that's what happened to me, shoot, I wanted to be a surgeon. I guess in some obscure way I became a surgeon, I just did in on inanimate objects instead of humans. In the long run, I feel I choose the best path for… Continue
Added by Bill Park on June 13, 2011 at 11:24pm —
Design thinking takes into account all aspects of your business as it is today, tomorrow and 20 years down the road. Design thinking incorporates people’s current needs, as well as their unmet needs, in order to create a sustainable growth strategy for your business. The company that incorporates a design thinking mentality has to consider far more things than just how to be… Continue
Added by Bill Park on May 23, 2011 at 2:07pm —
Even back in 1960 when Domino's Pizza was founded in Ann Arbor, Michigan, I'm sure that the town wasn't jumping up and down for another pizzarea. The brilliance of Tom Monagham was his ability to simplify why buying a pizza from him would be the best option.
We all know the USP ( unique selling proposition): 30 minutes or less, or it's free.How could you go wrong?