Tag: strategy

  • Strategies for Investors to Cut Taxes as Year-End Approaches

    Strategies for Investors to Cut Taxes as Year-End Approaches

    The overall stock market has been down during 2022 but there have been some bright spots. As year-end approaches, consider making some moves to make the best tax use of paper losses and actual losses from your stock market investments. Tax rates on sales Individuals are subject to tax at a rate as high as…

  • Five Ways to Strengthen Your Business for the New Year

    Five Ways to Strengthen Your Business for the New Year

    The end of one year and the beginning of the next is a great opportunity for reflection and planning. You have 12 months to look back on and another 12 ahead to look forward to. Here are five ways to strengthen your business for the new year by doing a little of both. 1. Compare…

  • Three Key Traits of Every Successful Salesperson

    Three Key Traits of Every Successful Salesperson

    Take a mental snapshot of your sales staff. Do only a few of its members consistently bring in high volumes of good margin sales? An old rule of thumb says that about 20% of salespeople will make 80% of sales; in other words, everyone’s not going to be a superstar. However, you can create performance…

  • For Best Results, Start Your Strategic Planning Early

    For Best Results, Start Your Strategic Planning Early

    Time flies when you’re having fun — and running a business. Although it’s probably too early to start chilling a bottle of bubbly for New Year’s Eve, it’s certainly not too early for business owners to start doing some strategic planning for next year. Here are some ways to get started. Begin with your financials…

  • Prepare for the Worst with a Business Turnaround Strategy

    Prepare for the Worst with a Business Turnaround Strategy

    Many businesses have a life cycle that, as life cycles tend to do, concludes with a period of decline and failure. Often, the demise of a company is driven by internal factors — such as weak financial oversight, lack of management consensus or one-person rule. External factors typically contribute, as well. These may include disruptive…

  • An Implementation Plan Is Key to Making Strategic Goals a Reality

    An Implementation Plan Is Key to Making Strategic Goals a Reality

    In the broadest sense, strategic planning comprises two primary tasks: establishing goals and achieving them. Many business owners would probably say the first part, coming up with objectives, is relatively easy. It’s that second part — accomplishing those goals — that can really challenge a company. The key to turning your strategic objectives into a…

  • Refine Your Strategic Plan with SWOT

    Refine Your Strategic Plan with SWOT

    With the year underway, your business probably has a strategic plan in place for the months ahead. Or maybe you’ve created a general outline but haven’t quite put the finishing touches on it yet. In either case, there’s a time-tested approach to refining your strategic plan that you should consider: a SWOT analysis. Let’s take…

  • Make Sure the Price is Right with Market Research

    Make Sure the Price is Right with Market Research

    One way to help ensure that the new year is a profitable one is to re-evaluate your company’s pricing strategy. You need to devise an approach that considers more than just what it cost you to produce a product or deliver a service; it also must factor in what customers want and value — and…

  • Does Prepaying Property Taxes Make Sense Anymore?

    Does Prepaying Property Taxes Make Sense Anymore?

    Prepaying property taxes related to the current year but due the following year has long been one of the most popular and effective year-end tax-planning strategies. But does it still make sense in 2018? The answer, for some people, is yes — accelerating this expense will increase their itemized deductions, reducing their tax bills. But…

  • Does Your Supply Chain Have a Weak Link?

    Does Your Supply Chain Have a Weak Link?

    In an increasingly global economy, keeping a close eye on your supply chain is imperative. Even if your company operates only locally or nationally, your suppliers could be affected by wider economic conditions and developments. So, make sure you’re regularly assessing where weak links in your supply chain may lie. Three common risks Every business…