Next up, we’re covering Gallup’s Element of Employee Engagement #3:
“At work, I have the opportunity to do what I do best every day.”
The opportunity to do what they do best falls into the second level of foundational level of employee engagement– “Individual Contributions.”
Think about a time in your life when you were asked to do ...
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Did you know that acquiring a new customer can cost up to five times more than retaining an existing one? Or that increasing customer retention rates by just 5% can increase profits by 25% to 95%?
While bringing in new faces is always exciting, it pays to remember the people who’ve already bought into what you’re ...
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The 2019 LinkedIn Global Talent Trends Report found that a staggering 92% of talent and hiring managers believe that soft skills matter as much as or more than hard skills.
A further 89% agree that “bad hires” fail because they lack the soft skills to succeed professionally.
As you work towards building an exit strategy, one of ...
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It takes money to make money, and perhaps the biggest evidence for that fact lies firmly in the concept of business capital.
Before your business began operating, you likely had to make some pretty sizeable investments in equipment, property, and advertising. You did so in the hope that creating enough capital would help you sell your ...
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If your brand means something to your community, your business is going to be more worthwhile to your buyers. Brand value plays a huge role in the attention that your business is going to get when you’re ready to sell. If you are seen as an integral piece of your community, region, or market, customers ...
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As business owners, we often have to step back and ask ourselves, “Will this bring value to our business.” Sometimes “this” is an upgraded technology that will make the inventory process easier or a promotional offer to increase seasonal sales. While those are important, an interested business buyer is going to look first and foremost ...
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We’ve spent the last two months looking at and dissecting the eight key drivers of business value. These drivers help you evaluate your business in a broad sense of what potential buyers are going to be looking for when they are thinking about purchasing.
These drivers are important because they help you categorize and promote various, ...
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The pursuit of incredible customer satisfaction is an investment in the current and future value of your business. In much the same way as establishing your shop in a niche location or moving up the recurring revenue ladder, building a customer experience that encourages lifelong loyalty to your brand is going to take time, money, ...
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The relationship between business value and the monopoly of control is a powerful one. A potential buyer will not want to buy your bait shop if it’s nestled in between two other bait shops. This situation does not create the kind of revenue stream that turns a business purchase into a long term investment.
So, what ...
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