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Tips for Setting and Tracking Your Business Goals

Goal setting is not a new concept. As business leaders, we buy into the importance of goal setting, but we need to be careful to avoid a common misstep—failing to accurately track these goals. Let’s explore a few reasons why the tracking step is overlooked. Solid and measurable goals were not set, making tracking impossible. Tracking mechanisms were too complicated and cumbersome, so the measurement is not sustainable. The metrics don’t sync up with the overarching goals you’ve set for your organization. Other common factors can include lack of training, […]

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Knowledge Is Power

Knowledge sharing within an organization has significant benefits, but it does not always happen. It takes the leaders of any team to foster a collaborative environment, but that can be a challenge despite knowing the advantages. Here are some things you can do to encourage knowledge sharing and collaboration in your business. Promote Safety in Sharing One of the best ways to encourage knowledge sharing is by creating a working environment in which team members feel they can share input and ideas that will be taken into consideration without negative […]

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4 Questions to Ask Before Diversifying a Business

Diversification is a strong business strategy, but it is also a big business decision. Having the right approach and willingness to learn is a great first step. Investing in a business requires thorough evaluation and contemplation. Your careful research will guide you toward the right decision. As you narrow down a shortlist of contenders, you get into the deep research phase known as “discovery”. During the discovery phase, you need to dive below the surface to truly ascertain if there is a good fit between you and the business you […]

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How Diversification Can Make a Difference?

Diversification can improve your current business. This is especially true regarding investments, which is a great frame of reference for understanding the importance of diversification. If 2020 has taught us anything, it’s that life is unpredictable, and anything is possible. The best way to protect your business is to ensure that your success is not dependent upon one revenue stream – aka: diversification. Let’s explore some of the benefits of diversifying your business: Minimizing the effects of market volatility – Market volatility is unavoidable, but it doesn’t have to be unbearable. By diversifying your business, you reduce the overall risk that comes with market fluctuations. A boost in confidence knowing your business is […]

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How To Manage Cash Flow During The Slow Times

Cash flow is a necessity for your business. It’s the current that keeps things moving. When cash flow becomes strained, hard days may lie ahead. For the longer term, cash flow management can help your business grow, compete successfully and increase its market share. No matter the industry, product, or goal, cash flow is essential. So, let’s explore all things related to cash flow and then outline tips to help manage cash flow during your slow time. First, what exactly is cash flow? Cash flow can be described as cash that comes into and out of your business in a particular period of time. Positive cash […]

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5 Mistakes to Avoid When Taking Over A Family Business

The family-owned business is the ultimate American dream for many. Yes, there are certainly tough times, but so much pride and a sense of accomplishment when successes are reached. However, there is no guarantee that your family-owned business will be successful and endure for the long haul. The often-quoted statistic about the family-owned business is that “90% of family businesses will not make it to the 3rd generation.” Spring-Green’s ongoing support and dedicated business consultants work with business owners to keep them from falling under that statistic. Whether you are the family member taking over your family’s business or an outside entrepreneur […]

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The Four Types of Diversification Strategies

As the workforce continues on a trend toward globalization and as competition becomes steeper than ever before, the need for a diversity strategy is transitioning from a “nice to have” to a necessity. Use this brief guide to help you unpack the four types of diversification and the strategies that align with each one.

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A Deep Dive Into Diversification & Why It Matters

Diversification is a buzzword that’s often thrown around as the secret sauce to success in your business. Still, truth be told, many of us may not have a deep understanding of what diversification actually entails and why it even matters. Let’s unpack what it means to diversify your business and get maximum returns on your investment in your business.

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How to Set and Achieve Winning Business Goals for 2019

As another year draws to a close, our thoughts turn toward 2019. A whole new year filled with endless possibilities stretches out before us and it’s hard not to be enthusiastic. Wouldn’t it be great to keep that enthusiasm going long enough to convert some of those goals into reality for your small business? You absolutely can! Here are some ways to set new goals for 2019 and improve your chances of achieving them. Successful Goal Setting For Your Local Business Take Stock of Your Present Situation You cannot effectively […]

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How to Cut Labor Costs In Your Business Without Layoffs

Without a doubt, the cost of labor is the single largest expense for most businesses. The employees you keep end up costing more than the base hourly wage or salary you’re paying them, due to taxes and insurance, but a business can’t run without the people who make the work happen. Take a look back at how your business fared this spring. Does your profit margin need a boost? If so, perhaps you’re considering your options. You could lay off a few employees, but you know that will decrease morale […]

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