The Profit First System makes a bold claim. It is 100% successful when implemented. So how can a small business fail with Profit First? In a word, behavior. The process is full-proof, changing human nature, not so much.
The Planner is CORE Group's blog and a way to help others interested in up to date tax service news.
According to Merriam and Webster, Ignorant and Ignore share a root Latin word which meant “to ignore, be ignorant of”. So the Latin word really included both definitions of our words Ignorant and Ignore. Why the etymological lesson? Let me tell you a story.
Have you ever played tennis by hitting a ball against the garage door? It’s not the worst way to practice. If you focus on the right parts of your technique you might actually get somewhere, but playing with a real, live partner who’s engaged in the game is going to take your skills to the next level. This is not too dissimilar from the accounting function in your small business.
Strategy, according to Mr. Webster, is “a careful plan or method”. In business, a strategy is generally how you achieve your goals. So you may have a marketing strategy to obtain new customers, or a hiring strategy to source new employees. Strategy, no matter what words you use to define it, is forward thinking. Sadly, many business owners never think of their business strategically, but remain reactive. If you fall in the reactive category, I suggest you stop reading this and pick up a copy of The E-Myth by Michael Gerber.
If you were introduced to someone this afternoon, it’s pretty likely you’d be asked about what you do. It’s so likely, in fact, you’ve probably got a quick and easy answer that just automatically spills out when you’re asked. Your answer is probably a simplified, easy-to-digest version of your real job description, not unlike Hank Hill’s “propane and propane accessories” line.
You try on shoes; you test drive a car, you even read the online samples of a book before you finally make a purchase. Doing your due diligence is just part of the process in any purchase, and we’d expect nothing less if you’re looking at bringing Core Group into the fold to take your business to the next level.