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Building a Sales Prospect Pipeline For Your Business
An old business adage says, "Sales is a numbers game." In other words, the more potential buyers you face, the better your chances of making sales. This isn't completely true, of course; success also depends on execution.
Nonetheless, when a company builds a pipeline to funnel prospects to its sales team, it will increase the opportunities for these staff members…Read More -
Relationships, Opportunities, and Regrets: A Formula for Success
I came into the office on a beautiful Saturday morning to finish up some projects before writing this article. When I was finally ready to start, I found that I lacked a real direction for the post. Turns out, my inspiration was right in front of me on my laptop. As I prepared to write, I found a document written…Read More -
7 Ways to Prepare Your Business For Sale
For some business owners, succession planning is a complex and delicate matter involving family members and a long, gradual transition out of the company. Others simply sell the business and move on. There are many variations in between of course, but if you're leaning toward a business sale, here are seven ways to prepare:
Develop or renew your business plan. Identify…Read More -
CASE STUDY : One CEO’s Journey to a New Partner Agreement
Business, like life, has an ebb and flow. From startup to high growth to plateau ... it can be a wild, wonderful ride. For some, the journey includes unanticipated changes in ownership structure, which is where David Aschheim, CEO and local franchise owner of Sola Salon Studios, found himself several months ago.
"My business partner and I were friends when we were…Read More -
What Keeps You Awake at Night? Ask Why!
What keeps you up at night? We have all been asked this question, or asked it of ourselves many times. The list of worries is as long and varied as there are people and situations in the world today. The best way to cure this type of insomnia is to determine the root cause of our worries.
Possibly the best…Read More -
Big Data Strategies for Every Business
You’ve probably heard or read the term “big data” at least once in the past few years. Maybe your response was a sarcastic “big deal!” under the assumption that this high-tech concept applies only to large corporations. But this isn’t necessarily true. With so much software so widely available, companies of all sizes may be able to devise and implement…Read More -
The Secret to Success: Deliver Customer Impact
Recently, I re-read a classic McKinsey article, "Cultivating the Right Leaders for Business Growth." This article crystallized for me why the high growth, small/medium businesses we work with here at The Fahrenheit Group enjoy such great performance. The article states, "One competency drives the greatest gains: delivering customer impact (defined as the capacity to understand customers' evolving needs)."
The entrepreneurs…Read More -
Use Benchmarking to Swim with the Big Fish
You may keep a wary eye on your competitors, but sometimes it helps to look just a little bit deeper. Even if you're a big fish in your pond, someone a little bigger may be swimming up just beneath you. Being successful means not just being aware of these competitors, but also knowing their approaches and results. And that's where…Read More -
Fortifying Your Business with Enterprise Risk Management
Hundreds of years ago, prosperous towns managed the various risks of foreign invaders, thieves, and wild animals by fortifying their entire communities with walls and towers. Today's business owners can take a similar approach with enterprise risk management (ERM). Assessing Threats In short, ERM is an integrated, companywide system of identifying and planning for risk. Many larger companies have entire…Read More -
4 Ways to Get (and Keep) Your Business Data in Order
With so much data flying around these days, it's easy for a company of any size to get overwhelmed. If something important falls through the cracks, say a contract renewal or outstanding bill, your financial standing and reputation could suffer. Here are four ways to get -- and keep -- your business data in order.
Simplify, simplify, simplify. Look at…Read More -
When Should Business Owners Think about an Exit Strategy?
Outside of marriage and the birth of a child, selling a business may be the most important life event an entrepreneur ever experiences, representing the financial reward from years of hard work, vision, and determination. And like anything that important, you want to do it only once, and you want to do it right. Business owners often wonder: when is…Read More -
The Fahrenheit Five
I was employee #15 when I joined The Fahrenheit Group in 2014. Part of what drew me to join was the authenticity of the people I met and the alignment of my beliefs with the organization's Founding Principles.
Recently, I was reminded of the five critical elements Fahrenheit aspires to while reading an article from Forbes Magazine titled "Five Important…Read More