How to Calculate the Impact and Probability of Business Risk

I was recently asked to explain the “Impact Score” in a Strategic Risk evaluation process. This is easy to do with a tool called the Strategic Risk Severity Matrix.

In this post, I’ll walk you through each step of using this tool, along with a practical example to demonstrate how it works.

Continue reading “How to Calculate the Impact and Probability of Business Risk”

Company Culture FAQs Part 4 of 5

In part 4 of our series on Frequently Asked Questions about Company Culture, we discuss leadership transitions, decision-making, and why it’s important to make room for your staff to grieve.

Watch the recorded video here, or read below for bonus-filled content.

Continue reading “Company Culture FAQs Part 4 of 5”

How to Make a Strategic Vision Board Square 2: Relationships

This is step 2 in a series about how to develop a Strategic Vision Board for your business.

In this post, I discuss why building strong relationships is important in strategic planning and how to identify your Ideal Customers.

Continue reading “How to Make a Strategic Vision Board Square 2: Relationships”

How to Make a Strategic Vision Board Square 1: Reputation

This is the first in a series about developing a Strategic Vision Board for your business.

In this post, I explain why Reputation is such an integral part of planning and running a company, and which questions to ask.

Continue reading “How to Make a Strategic Vision Board Square 1: Reputation”

2017: My Business Year In Review

Conducting a “year in review” process is incredibly useful. It can also be excruciating, because looking back at the good & bad of the past year forces us to confront uncomfortable realities. It serves as a window to evaluate goals, examine priorities, and identify where we’ll focus our energy in the coming year.

In this post, you will hear how my Year In Review has strengthened me as a business owner. I’ll share what happened for me professionally in 2017, what worked and what didn’t, and some lessons learned.

Continue reading “2017: My Business Year In Review”

31 “Year In Review” Examples to Inspire You

A Year In Review is an evaluation of what has occurred in the past year, what you’ve learned, where things went wrong, and how you will make changes for the coming year.

To learn how to create your own, read How to Do a Year In Review.

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This type of evaluation will stretch you. You may find information about your company that is embarrassing. And you might decide to keep it private—known only to you or your leadership team. Or you could share the results with staff or customers. There’s nothing wrong with editing the content to fit the audience (especially if you’re an introvert like me).

But if you’re willing to be totally transparent, sharing a Year In Review with the entire world is extremely effective.

Read more: 5 Reasons to Share a “Year In Review” of Your Business. Continue reading “31 “Year In Review” Examples to Inspire You”

5 Reasons to Share a “Year In Review” of Your Business

Facing the good and bad of the past year takes courage, especially in re-living painful experiences. But self-evaluating the highs and lows in your past year is just the first step.

Sharing your findings with the entire world takes it to a whole new level.

In this post, I’ll talk about the benefits and downsides of making your Year In Review public, and why we’re afraid to fail.

Continue reading “5 Reasons to Share a “Year In Review” of Your Business”

How to Do a Year In Review

It’s that time of year… to review whether you have reached your goals!

As a business owner, you may feel ready to leave last year behind and move forward—especially if you’ve experienced failure: Disappointing sales, high staff turnover, unpaid invoices, frustrating delays, or negative outcomes.

financial crisis, downward trend, low profits, decreased revenue, bad results

But we shouldn’t avoid talking about failure. It may be easier to talk about happy things, but there are just as many (if not more) reasons to review the unpleasant ones.

In this post, I’ll explain the benefits of using a Year In Review, and how to start.

Continue reading “How to Do a Year In Review”

A Letter to My Business Mentor: From Fear to Confidence

I recently had a great e-mail exchange with my long-time mentor, who is the CEO of an engineering company in the US Midwest.

He asked me how things are going.

Here was my response:

Continue reading “A Letter to My Business Mentor: From Fear to Confidence”