In the dynamic world of small businesses, the journey to profitability often encounters hidden challenges. While entrepreneurs excel at innovation and adaptation, many overlook critical financial metrics, which can hinder long-term success. Unfortunately, it’s not uncommon for these vital metrics only to come to light after painful mistakes. Beyond the basic profit and loss, the […]
As we step into the new year, we have an opportunity to reflect on the triumphs and challenges of the past year. The practice of conducting a ‘Year in Review’ is gaining recognition as an essential step in paving the way for a successful and sustainable future. This annual ritual is more than just a […]
When it comes to running a small business, your management style can have a big impact on your success. One of the most important aspects of your management style is how you gauge and guide your operations. Do you rely on the intuitive “flow of work” or do you delve into the quantifiable realm of […]
Small business success hinges on an often-overlooked factor: the speed of cash flow. Today, I’d like to talk about why entrepreneurs need to prioritize and expedite cash flow, recognizing it as more than a financial metric — it’s a strategic lever for growth and resilience. In the dynamic landscape of small business, decisions are time-sensitive. […]
The decision to bring on your first employee is a significant moment that demands nuanced strategic thinking. Let’s discuss some critical considerations essential for solo entrepreneurs navigating the terrain of team expansion. Money Matters When you’re thinking of adding a team member, do some smart money planning. Check out the costs—salaries, benefits, and any other […]
Struggling with innumeracy? You’re not alone! I have also been part of the “What do these numbers even mean?” club. But, as life and business change, I’ve become even more aware of the importance of continuous learning. It is beneficial not only for B.O.S.S. Consulting but also for the small business owners and nonprofit executives […]
Finding your way through the maze of starting a business is no cakewalk – there’s the cash crunch, fierce competition, and many other challenges along the way. However, a well-crafted purpose statement is a powerful tool that can guide you through the turbulence of startup life. It’s not just a fancy tagline; it’s your North […]
In the wild world of small business, navigating the road to success comes with its fair share of challenges. One often underestimated hurdle is the fear of pricing products or services just right. Instead of safeguarding the bottom line, this fear can be a real roadblock to both staying afloat and turning a profit. Let […]
by Bruce David, B.O.S.S. Consulting Intern In the life cycle of entrepreneurship, the early stage is defined by exploration and discovery, and the growth stage is about navigating established routes and expanding one’s territory. The transition between these stages is not merely a change of pace; it’s a transformation that encompasses strategy, operations, and leadership. […]
When running a small business, the path to success is a winding journey filled with its share of hurdles and sacrifices. One such hurdle is when your personal mission doesn’t quite align with your business plan. Let’s explore that delicate situation today. First, let me introduce you to Sarah, a passionate entrepreneur and owner of […]