Ignoring the Stock Price Companies that ignore their stock price do so at their peril.
While it is crucially important to concentrate on the basic business of the company, if a company is not mindful of what happens to its stock price, it may find it is in for a rude shock. If the stock price falls too low, investors may lose confidence in management, and critical investors may sell out. If the stock price falls too low, a takeover may happen. A company needs to pay attention both to its basic business and it its stock price.
Success Needs Sufficient Capital Resources To succeed in business, you need sufficient capital resources. In fact, it is said that the number one source of failure for small business is running out of money.
If you do not have a realistic assessment of the money that is needed to implement your business plan, you run the risk of running out of money. If you run out of money, your business may likely fail. Failure to have a realistic understanding of the amount of money that is required for the business overall and to implement certain new ventures, particularly, can lead to ruin.
Failing to have adequate money for the business can be a mistake.
From time to time companies and senior executives inevitably are involved in circumstances that are not familiar to them. In those circumstances, it is a good idea to retain a professional advisor. But it can be disastrous if the wrong advisor is retained.
Often the decision about the advisor who is retained is much more controlling in determining the outcome that is achieved than are the merits of the strategy pursued, the potential of the new business opportunity, what diligence is employed, or how much resources are expended. If you retain the wrong advisor, you may end up with an unfortunate outcome.
Some companies operate with an exploit the employee approach.
Some companies reason that employees are out to take advantage of them, so the company should get everything it can from the employee. A company may figure that it is paying the employee good money and that therefore nothing more is due or expected. If the employee doesn’t like it, the employee can go somewhere else. After all, there are many other people the company could hire. But will an exploit the employee approach attract and keep the best employees?
"You can't really know where you're going unless you know where you've been."-- Maya Angelou
We're in the 4th quarter of 2019. Now is the time to review your 2019 business plan and begin preparation for what you're going to accomplish in 2020.
What is a business plan? It's a written description of your business's future, a document that tells what you plan to do and how you plan to do it. Don't worry - it doesn't have to be long or complex to start. Ryan Deiss is famously known for making one on a napkin.
The actual value of automation is that it is more capable than humans could ever be to accomplish what today needs. With automation pushing the envelope of productivity in marketing per se, it more than capably provides the ability to scale.
Imagine, a single process that is so well-defined that once implemented can repeatedly produce until Infinitum, or until the desired outcome is reached. That’s the power of automating as many processes as possible.
This July 4th is the celebration of my 20th anniversary of making a life here in this land of the free, home of the brave. I came to the realization this holiday weekend that I am significantly fortunate to live in the United States, and I am proud to be an American.
If you wish to end up winning, the recipe is outspending the competition. It’s the unvarnished truth. It’s not the best business that always wins, it’s the best marketed. But don’t let me get too far ahead just yet.
The typical business owner looks for every advantage imaginable to spend as little as possible on gaining a new customer, client, or patient. Whether it be pay per click ads, sales commission, incentives, discounts, whatever.
The Everest Consultation Session is a time you commit to work ON your business. During the 1000 minute (about sixteen hours) session we will make a game plan to take you from where you are to where you want to be at the end of your next 1000 days.
We start with a question I learned from coach Dan Sullivan. "If we were having this discussion 3 years from today, and you were looking back over those 3 years, what has to have happened in your life both personally and professionally, for you to feel happy with your progress?”
In this blog, we share what we learned from our reading and our experience. We publish two articles a week. Our blog editor Stacey Riska reads, researches and interview industry experts to write these articles. We also get articles contributed by others that Stacey publishes periodically to this blog. If you have a blog idea or blog article, kindly send it to sriska@elaunchers.com for review.
If you like what you see, I would like to meet with you and share what I know that can possibly help you grow your business.
What if we get together and do some work ON your business BEFORE you invest any more money on marketing ANYWHERE?
Let's Meet Online and Map Out A Plan
If you click on this button and schedule a call with me, I will work with you on your business in a 60 to 90 minute session and help you map out your journey from your current state to your goal state. This session is a composite of principles I learned from Dan Kennedy's Magnetic Marketing, Hubspot's Inbound Marketing Methodology, Infusionsoft's Lifecycle Marketing Planner and Digital Marketer's Customer Value Optimization with Value Journey Canvas (CVO/VJC).
