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How are Small Businesses Doing?

We are swimming upstream as we look at all the data that tries to explain the performance and health of small businesses. Numerous trustworthy surveys exist, each featuring their own methods and objectives aiming to accurately portray the small business environment. Which survey provides the most accurate view? The Small Biz CEO has examined quite a few surveys and found the WSJ/Vistage Small Business CEO Confidence Index and the MetLife & US Chamber Small Business Index to offer the clearest view. Both surveys identified several persistent patterns worth noting. How does your business compare to the survey results? First and

Mark Kleinschmidt

CEOs need to decide

CEOs need to decide The “40-70” Rule As the CEO of your business, you must make many critical decisions about the strategic direction of your company. Every decision that you make is determined by a variety of factors such as information, confidence, experience and your willingness to call the shots. When all these pieces come together to help in the creation of a decision things can get blurry. To bring some clarity to the decision-making process let’s look at a proven decision-making process that was developed by Colin Powell, the former head of US military forces and former Secretary of

Mark Kleinschmidt

Navigating the Small Business Lifecycle

Navigating the Small Business Lifecycle From Start-up to Exit Strategy Over time, your business will experience different challenges and stages of growth. Each stage of the “small business life cycle” requires a different set of strategies to succeed Check out the graph. Where is your business? There are four distinct stages of business growth : 1) Start-Up, 2) Survive & Build, 3) Expand and 4) Exit. It is vital that you understand where you are in the growth lifecycle and implement the appropriate strategies in each stage for overall success and longevity. Let’s take a quick look at each stage

Mark Kleinschmidt

Wendi’s Christmas Cookies

Back in the day before the smart phone when we used to read print newspapers, Clement Moore’s “Twas the Night Before Christmas” was featured on the editorial page every Christmas Eve. Several years ago, when I was working in Annapolis, MD, I came across a deeply moving Christmas Eve editorial that shed light on the real significance of Christmas. This piece was published in the Capital Gazette, and its inspiration stemmed from the tragic and senseless murder of five reporters by a deranged gunman. The editorial is based about the simple gift of cookies shared by one of the reporters,

Mark Kleinschmidt

When Does the Founder Become CEO

As a small business owner, you’ve built your business from the ground up. However, as your small business starts to flourish and expand, your role with the business needs to change. The day arrives when you are no longer the business owner but need to become the CEO of your business. This transition comes with many challenges and your responsibilities will change so your approach needs to evolve. Here are some of the key changes you will need to incorporate: Shifting Mindset To make this transition smoothly, first and foremost, prepare yourself mentally. Understand that your role as the CEO

Mark Kleinschmidt

How are Small Businesses Doing?

CEOs need to decide

Navigating the Small Business Lifecycle

Wendi’s Christmas Cookies

When Does the Founder Become CEO

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