One of the best ways for a business to remain competitive is for it to get ahead of the curve when it comes to technology. For larger businesses, a tech-forward approach is absolutely essential for survival; for smaller businesses, it can be a good way to gain some separation from the pack, and possibly compete with larger companies that have more resources.
Although they sound alike, the terms “Entrepreneur” and “Business Owner” are very different. Whether you are an independent practitioner, contractor, or just curious about what these words mean, I want to explain why they are so different.
Quality is much different than quantity. It includes sensations and feelings from interviews, discussions, and narrative stories that are difficult to turn into specific numbers.
Although it takes more time to collect, qualitative data is extremely helpful because it provides a depth of understanding about very complex problems.
There are many places to look for signs that something in your company needs to be adjusted.
In this post, I’ll share 20 different places where your business can look to avoid a potential catastrophe. I also explain how to evaluate these sources for vulnerabilities, and which questions to ask.
We’ve been stuck at home for weeks. Hair salons are closed. What can you do if your roots are showing and you’re tired of covering them up?
Even if you had never considered it before, maybe this is the time to go gray. Let me share why I chose to stop coloring my hair and the steps I suggest for taking the plunge.
If you’re looking for practical ways to identify opportunities and threats in your business, don’t just “try harder.” Instead, consider two risk intelligent options: Adapt to a changing market, or Quit and move on to something else.
In this episode, Grace explains why she started this podcast and what you can expect in future episodes. You’ll also learn where to get visual graphics & articles related to each episode, and how to submit a question.
As the novel Coronavirus (COVID-19) continues to impact more communities across the US and other countries, business owners are especially concerned about how they will continue to operate with a sudden decrease in sales, personnel, materials, or all three.
Do you hate reviewing your business financials? If so, you’re not alone.
In this article, I’ll explain:
- the difference between quantitative and qualitative data,
- where to collect the data,
- an illustration that demonstrates which questions to ask, and
- how to use it to make risk intelligent decisions.
Are you wondering how to tell the difference between data that are based on numbers (quantitative) and those based on sensations and experiences (qualitative)?
Many business owners find it difficult to make the distinction… which can lead to frustration, overwhelm… and eventually to a business that is vulnerable to threats that could cause irreparable harm.
How well did your business do this year?
Answering this question can bring up a lot of emotions, especially if things did not go as expected. You might feel the pressure of setting end-of-year deadlines. Looking back can result in guilt if we didn’t reach our goals, or anxiety about setting new ones.
Many business owners feel a tug-of-war between accomplishing daily duties AND stepping back to see the “30,000-foot view” of their company. But even though it can be really scary, doing a Year In Review is very helpful. That’s why I recommend taking time to look back at what happened using data that is quantitative (numbers) and qualitative (experiences). Once you review the results (good and bad), you reduce the risk of failure by making adjustments to your plans for the next year.
Here are six helpful resources to guide you through the process.