As a small business owner, you face many challenges and pitfalls today. Sadly, many small business owners do not know that small business failure is imminent until it is too late. The important question is: Why Do Small Businesses Fail? By knowing the main causes a small business fails, you can be prepared and avoid these pitfalls. Starting a small business is always a risky venture for the entrepreneur.  Regardless of the type of business, I believe that small businesses fail because they fail to plan. With no business plan, succession plan, or exit plan, you are destined to have significant problems in running, funding andRead More →

“You can’t manage what you don’t measure, and what you don’t manage doesn’t get done.” – Peter F. Drucker Small Business Success Requires Small Business Performance Measurement Small Business Success requires owners to continuously evaluate business performance and take corrective actions. Sadly, with several small business owners that I have worked with, that is not the case. In some cases, small business owners worked in their business for a very long time but cannot afford to retire. In general, they perceived that the value of their business is more that it can sell for. Performance measurement helps small business owners to understand how decision-making processesRead More →

Developing Key Performance Indicators Developing Key Performance Indicators Starts at Startup The developing of key performance indicators should starts before your small business is in business. You will gain valuable insights into planning and documenting your business venture by doing it on the frontend. Developing key performance indicators (KPIs) and measuring business performance in your small business should not be complicated. Your key performance indicators (KPIs) depend on your strategic goals, business complexity and the nature of the operations. Read our blog Where Performance Measurement Fits Into a Small Business Start by measuring only those things that are important/critical for your small business success. YouRead More →