Diversity, equity and inclusion, or DEI, is not only a good thing to do, but also a highly valuable business strategy. While the subject can be sensitive, we should understand its value as a strategy. By leveraging the power of DEI, companies can reap numerous benefits that directly contribute to their overall performance and bottom
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Previously, we’ve explored various key performance indicators and their respective value as tools for effectively managing your business and increasing profits. Today, we’ll review those KPIs and leave you with some next steps for using them. In the initial article for this series, we began with the importance of having a strategic plan. It’s important
Read More In my last column, I covered the importance of knowing your numbers as a way to grow your business and make it more profitable. We explored the closing ratio. This month, we’ll look at two other key performance indicators, customer lifetime value and customer churn rate. Customer lifetime value, or CLV, is sometimes referred to
Read More As Marcus Lemonis, the businessman and star of The Profit says, “If you don’t know your numbers, you don’t know your business.” Today, you will begin to know your business better. The Small business Administration states that only about 50% of small businesses make it to their fifth anniversary. There are several reasons for this,
Read More As we enter 2022, it’s an opportune time to both reflect on challenges, and successes, from this year and to finalize tactical plans to address potential obstacles for the upcoming one. In 2021, the new phenomenon of “The Great Resignation” began. It refers to the massive number of workers quitting their jobs, sometimes without even
Read More In my last column, we explored the value of having a mentor. This month, we’ll go deeper with a step-by-step process to help you find one. First, be introspective and truly understand your strengths and weaknesses. This will help you identify a mentor who can help you leverage and maximize those strengths and help you
Read More In 1993, I became both impressed and enamored with two adorable and smart middle-school sisters, at the Boys and Girls Club, on the perilous Westside of my hometown of Chicago. I was honored to have been asked to serve on my first board of directors there. Since then, it has been exceedingly rewarding to work
Read More Most successful business people are early-morning risers. Did you also know that most have a mentor? Well, you might not be a “morning person,” but you can get a mentor. Additionally, these successful businesspeople usually maintain a relationship with a mentor throughout much of their careers. I still communicate with one of my mentors, who
Read More For more than 25 years, it has been my pleasure to hire, develop and coach, staff, and senior executives, at both startups and Fortune 100 companies. Many lessons learned came from great mentors and from studying best practices. Nearly as many were learned the hard way. I’d like to share some of those lessons with
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