Blog | Business Leaders’ HeadsUp!

Market Assessment Series: Part 2 | Extraordinary Business
in Blog, Business Growth

Market Assessment Series: Part 2 | Extraordinary Business

by Fatima Mansoor

Question 2: Conservatively speaking, how much market share can we take and what’s that worth to our company in terms of finance and other factors? This is the second post of our market assessment series that explores the questions a company must ask when analyzing a new market. In the first post, we talked about the importance of knowing a market’s current and potential size….

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1

Nov
2016
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Is Your Business Ready for the Next Downturn? | Extraordinary Business
in Blog, Financial Management

Is Your Business Ready for the Next Downturn? | Extraordinary Business

by Ravinder Kapur

A successful business often tends to add costs indiscriminately. Business owners get blinded by the fact that their company is rapidly growing its revenues while maintaining a healthy bottom line. This lax attitude percolates down to employees who start incurring expenditure that does not provide any real benefit to the organization. In many instances, company staff do not even provide customers with a basic level…

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25

Oct
2016
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Market Assessment Series: Part 1 | Extraordinary Business
in Blog, Business Growth

Market Assessment Series: Part 1 | Extraordinary Business

by Fatima Mansoor

Question 1: What is the market’s current size? And what is its potential size? Will the market expand or contract, and why? This is the first of an 8-part series focusing on the questions a business should ask when assessing a new market. The ability to carefully estimate the market size is crucial to successfully entering a new market. Too many business owners rush into…

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18

Oct
2016
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Financial Strategies to Scale-Up Your Business | Extraordinary Business
in Blog, Financial Management

Financial Strategies to Scale-Up Your Business | Extraordinary Business

by Ravinder Kapur

An established business that is planning to grow its volumes invariably requires cash to finance its expansion. Given the fact that there are hardly any companies that have recorded a rapid increase in sales using their own funds, it is important to develop a strategy to secure money from external sources. Experienced entrepreneurs know that the challenges in raising funds are many. Here are some…

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11

Oct
2016
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How to Navigate Organizational Change | Extraordinary Business
in Blog, Operations Management

How to Navigate Organizational Change | Extraordinary Business

by Katie McBeth

A Guide for the Shifting Business Write up by Katie McBeth and infographic provided by Maryville University Online MBA Program Our world is constantly changing, and businesses are not immune to these shifts in ideas or technologies. Sometimes the changes are gradual, and can be implemented over time. Other times these shifts are abrupt, and – if not handled properly – can be catastrophic. However…

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4

Oct
2016
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8 Questions You Should Ask When Assessing a New Market | Extraordinary Business
in Blog, Business Growth

8 Questions You Should Ask When Assessing a New Market | Extraordinary Business

by Fatima Mansoor

Entering a new market is a crucial step. It’s true for multi-billion dollar conglomerates, and its also true for service-based businesses with revenues between $1M and $50M. Yet, quite a lot of companies are unable to perform a comprehensive analysis of the market they’re thinking of entering. From the potential size of the market to the behaviors and strategies needed to grow in that market,…

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27

Sep
2016
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How to Come Up With an Intelligent Budget for Your Small Business | Extraordinary Business
in Blog, Financial Management

How to Come Up With an Intelligent Budget for Your Small Business | Extraordinary Business

by Ravinder Kapur

Every small business prepares a budget on an annual basis. For some companies, this exercise provides a dynamic and powerful tool to monitor financial and business performance during the course of the year. But for other firms, preparing a budget is merely a routine activity that is carried out without much thought or deliberation. The companies that adopt the latter approach are losing an opportunity…

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20

Sep
2016
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Value in Strategic Planning | Extraordinary Business
in Blog, Planning

Value in Strategic Planning | Extraordinary Business

by Rick Meekins

So you have had your business for a number of years and you are successful for all intents and purposes. You have an excellent product, you have an active client base that purchases from you regularly. You know how and where to get new clients and how to keep the ones that you have.  Your team is pretty stable; you have a low turnover rate….

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13

Sep
2016
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Why Collaboration is a Great Way to Expand Your Business
in Blog, Business Growth

Why Collaboration is a Great Way to Expand Your Business

by Fatima Mansoor

Whether it is through the impact of social media or the increasing efficacy of crowdfunding, the power of collaboration is evident. Smart entrepreneurs and business owners are well aware of the advantages of collaboration, especially for expanding their businesses.

6

Sep
2016
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Creative Compensation Plans for Growth-Oriented Small Businesses | Extraordinary Business
in Financial Management

Creative Compensation Plans for Growth-Oriented Small Businesses | Extraordinary Business

by Ravinder Kapur

Designing a compensation plan for your employees can be a challenging task. The amount that you pay your staff should be close to the market rate. At the same time, it is essential to link salaries with performance. Employees should not get the impression that they will receive the same salary regardless of the quality or volume of their output. An effective compensation program is one…

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30

Aug
2016
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How to Tell if it’s the Right Time to Grow Your Business | Extraordinary Business
in Blog, Business Growth

How to Tell if it’s the Right Time to Grow Your Business | Extraordinary Business

by Fatima Mansoor

Expanding your business is almost always on an entrepreneur’s agenda. Whether it’s increasing your revenue from $1 million to $10 million or beyond, your decisions regarding how to expand are crucial. Ascertaining the right time to grow is one of the key qualities of successful entrepreneurs. Business expansion comes with some inherent risks and your ability to identify the ideal conditions for growth will determine…

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23

Aug
2016
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Improve Productivity By Investing In Your Employees | Extraordinary Business
in Blog, Productivity

Improve Productivity By Investing In Your Employees | Extraordinary Business

by Ravinder Kapur

Every small business owner knows that workers with a positive mindset are more productive and engaged in their jobs. Their optimism and can-do attitude can translate into higher customer satisfaction, contributing to greater sales and more profits. Here are some tips on how to improve productivity by investing in your employees.

16

Aug
2016
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How Technology Is Cutting HR Costs | Extraordinary Business
in Blog, Operations Management

How Technology Is Cutting HR Costs | Extraordinary Business

by Rick Meekins

Human resources can be the biggest operating expense for many businesses. A typical profitable company spends about 15 to 30 percent of its gross revenue on payroll, a number that can rise to 50 percent in service industries, according to Second Wind Consultants. This includes money spent on salaries as well as insurance benefits, retirement benefits and taxes. When these expenses are factored in, the…

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9

Aug
2016
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3 Small Business Financial Challenges, and What to do About Them | Extraordinary Business
in Blog, Financial Management

3 Small Business Financial Challenges, and What to do About Them | Extraordinary Business

by Fatima Mansoor

The small business financing landscape is one that changes continuously. Business owners are thrown curve balls especially as they gear up to expand their small business. A range of financial challenges plague the minds of modern entrepreneurs, keeping them from efficiently reorganizing their business for growth.

2

Aug
2016
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Things to Look Out For When Purchasing a Business | Extraordinary Business
in Blog, Business Growth

Things to Look Out For When Purchasing a Business | Extraordinary Business

by Ravinder Kapur

If you are considering getting into business for yourself, buying an existing company could be an excellent option. You will get the opportunity to use your skills and experience to expand operations at the enterprise that you purchase. Many small businesses see a sharp jump in revenues and profits soon after a new owner takes charge. But identifying the right business is not an easy…

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27

Jul
2016
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Create a Work Environment That Retains Employees | Extraordinary Business
in Management, Productivity

Create a Work Environment That Retains Employees | Extraordinary Business

by Rick Meekins

A fun, creative work environment packed with in-office perks is a great way to attract and retain the best employees. Just look at the Google campus. Lovingly called the Googleplex, it boasts an open design, free bicycles and free breakfast, lunch and dinner from any of the on-campus kitchens. Even if you do not have the multi-billion dollar budget of Google, your business can adopt…

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19

Jul
2016
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