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Business Lesson: Calculating the cost of Mistakes

Mistakes are part of life and part of business.   Some of the biggest lessons learned come from mistakes. We can all agree on that.   However, in business, excessive mistakes can not only be costly, they can potentially destroy the company.    We have to learn from our mistakes…or run the risk of repeating them. In many […]

Why Should You Focus on Profit?

It has been said, you get what you focus on.   Focus your mind and your efforts towards the things you want and you’re more likely to get them.  This is true in careers, sports, having healthy family relationships, and mastering a new skill or hobby. And in business, it must include focusing on profits. A […]

5 (and only 5) ways to Impact Your Profits

How do you make money in your business? I’m not talking about top line sales kind of money, I’m talking about the money that ends up all the way down at the bottom line – your net profits. This came up in a great discussion at last week’s Business Book Review on the book Ownership Thinking […]

Winning Advice #3 Retain Profit Margins

I’ve talked before about the great advice I got from a mentor of mine. Profit Margins were the focus of Winning Advice #3 on a list of 5 that became part of my blueprint for success in the spring of 1997.  In short, it said a business owner must understand the importance of establishing, understanding, and […]

Why More Money isn’t always More Money…

  I met with a business owner last week who had a record year for revenue last year.  He worked really hard, he spent a lot of time and effort on sales and marketing, he aggressively went after any opportunities he could find and if any customers wavered on sticking around he gave them a […]