Murphy Business Brokers - Charlotte

01/25/2021

“Despite nearly two-thirds of entrepreneurs admitting to SCORE that 2020 didn’t produce company profits, 55% remain optimistic that they’ll be able to grow their businesses in 2021”

Good piece here from smallbiztrends on expanding sales on a budget...

TLDR:

1. Narrow your sales targets
2. Streamline and systemize your selling processes
3. Eliminate “fat” from client-facing employees’ schedules
4. Consider ways to earn passive income streams
5. Revitalize your website content
6. Hire talented, early-career salespeople

https://smallbiztrends.com/2021/01/expanding-sales-on-a-budget.html

Small business owners across the nation are hopeful for a speedy rebound. Here are 6 tips for expanding small business sales on a budget.

11/11/2020

Wishing Everyone a Peaceful Veteran’s / Remembrance Day. My Grandfather was a Paratrooper in WW2 - Here are his medals:

1. 1939-45 Star
2. Africa Star
3. Italy Star
4. France & Germany Star
5. Defence Medal
6. War Medal

10/15/2020

What do you think? Several of these points ring true for me, especially No. 9: “Know What Your Main Time Wasters Are” – I think from time to time everyone is guilty of scuppering their own productivity, and it's important to how (and why) you do it.

Whilst I disagree with the title of No. 8 (as biz owners all we do is Multi-task!) but I think the spirit of the point is: Compartmentalize & Focus on individual tasks for best results.

Business owners have a lot to handle. Proper time management skills can turn an average entrepreneur into an exceptional small business owner.

08/18/2020

"Whenever you can, count!" - Sir Francis Bacon

Are you managing your business’s assets as efficiently as possible? The Asset Turnover Ratio is a crucial metric for determining your efficiency.

Excellent explanation here from Fundera on a) what it is b) how to calculate it c) how to interpret it and d) how to improve it.



https://www.fundera.com/blog/asset-turnover-ratio

08/11/2020

NEW: How a Business Valuation can help Financial Planners & other Trusted Advisors make better decisions for their clients

NEW: How a Business Valuation can help Financial Planners & other Trusted Advisors make better decisions for their clients ...

08/07/2020

Friday musing:

“Time is the most valuable asset you have. It’s a non-renewable resource you can never get back...Yet people wait to start a business, a project, or pursue a dream as if they have all the time in the world. They waste time doing things they hate or suck at doing. They think there’s some mythical date in the future when the conditions will be perfect; the stars will align, and they’ll have enough money in the bank or time to spend on their art. But the only thing that changes when you wait is that time passes.” -– My wife after a glass of wine or two (but I think it’s actually from this medium article by Srinivas Rao!)

Every day you make thousands of choices about how you are going to spend the most precious resources you have.

08/05/2020

July Market Update - The news is not all bad! Indeed, many small businesses have been minimally impacted or even grew during this crisis. Companies that can demonstrate solid performance and strong cashflows are in very high demand right now

Also interesting to note that the buyer market is very active right now. Some have been displaced from corporate jobs and are looking to take control of their destiny. Some are looking to relocate out of large conurbations. These buyers have access to historically cheap capital and are on the hunt for strong companies.

Plenty of opportunities out there for everyone!

07/31/2020

“The art of life is a constant readjustment to our surroundings” – Kakuzo Okakaura

Thought-provoking article here about adapting your business
some highlights include:

* Reviewing & Improving Business Operations
* New Workplace Safety Procedures
* Improving Your Online Presence
* Thinking Local

Adapting Your Business The business world is always changing. If you aren't careful, you risk falling behind your competitors. Your business could become

07/28/2020

“Failing to plan is planning to fail” – Alan Lakein

Whilst many employees are loving their new Work-From-Home (WFH) lifestyle, the security risk for small businesses associated with decentralization and remote working is skyrocketing. SMEs represent a perfect target for malicious actors because whilst they have plenty of sensitive information, they often have limited knowledge and infrastructure to cope with cyber-attacks.

As an owner, if you think your WFH setup will continue - plan ahead and make sure you have adequate cyber-security protocols in place...

Interesting article on the topic here from SmallBizViewpoints

Ransomware attacks are on the rise. Small business owners are particularly at high risk of being attacked with Ransomware. Here is why.

07/21/2020

It's been a difficult & trying first half of the year for many business owners. With an eye towards (re)growth, it's vital owners have a strong grasp of their cost of debt and its implications.

Insightful read here from Fundera

Explore a key part of the cost of capital, which is a company’s cost of equity and cost of debt combined and weighted. Here's how to determine cost of debt.

07/17/2020

"You can’t manage what you can’t measure.” - Peter Drucker

Interesting piece on 5 Essential Metrics to Improve Business Performance

1. Visitor Tracking
2. Sales Revenue
3. Customer Retention
4. Customer Acquisition Cost
5. Operations Production

Full details in the article...

The heart of every business organization is the clientele who buy their products or services. The success of a business can

07/14/2020

Interesting piece here on how to "Build and maintain strong new client relationships when virtual selling"

TDLR:
1. Listen to your customers and prospects
2. Listen to your team
3. Build rapport, learn together

https://lnkd.in/dRmq8xv

Want to build and maintain strong virtual sales relationships? Read this article to find out more