Key Performance Indicators (KPI‘s) are important management tools and we encourage business leaders to use KPI’s in their businesses.
A KPI is quantifiable measurement or metric which helps track the progress towards business goals. Leaders use KPI’s to make better, data-driven decisions. They also guide behavior, productivity and decision-making, while providing transparency and accountability.
Read MoreTopics: Business Improvement, Business Planning, Accountability
Let’s start with a definition of Bad Debt.
Bad Debt is an amount of money a creditor must write off after a debtor defaults. Understanding and incurring bad debt is part of doing business… because there is ALWAYS a risk that payments won’t be collected, especially for businesses that extend credit to customers.
Read MoreTopics: Business Planning, Debt Management, Accountability
Most business leaders agree that branding is important in business. Given the opportunity, they’d like to strengthen their brand to generate more leads, grow sales and increase customer loyalty.
How do you ‘strengthen a brand’? It can get murky at this point... so let’s take a closer look.
Read MoreTopics: Business Improvement, Business Planning, Leadgeneration, Branding
Many businesses are facing increased costs. This is not necessarily a new business challenge… but the COVID-19 pandemic is driving significant and unpredictable “price spikes”. Let’s look at what business leaders should be thinking about in this environment.
Read MoreTopics: Business Planning, managing business risk covid-19, cashflow, businessresilience, business decision-making
Humans are adaptable. That’s how we’ve survived for a long time!
No surprises, then, that people have quickly responded to COVID-imposed changes, like complying with lockdowns, wearing masks or working from home. However, sustaining these changes for a long time is much more challenging.
Read MoreTopics: Business Planning, leadership, communication