Are you investing your cash flow for growth, or are you funding waste? In this article, you will learn how to measure if you are investing cash to grow your business, or merely funding wasteful activities. In fact, tolerating poor business practices is a decision that is funded by your cash flow.
Business leaders don’t understand cash flow
Business owners and leaders often don’t understand cash flow, let alone manage it. The numbers can be so complicated that they almost serve no value to the business owner to run the business. Read this article to understand why it’s important to understand cash flow.
The Cash Conversion Cycle
The cash conversion cycle (CCC) is a metric that expresses the number of days it takes for a company to convert its investments in inventory and other resources, into cash flow, from sales. Read this article to understand more of the basics of the cash conversion cycle.
PRODUCT LAUNCH: Refresh your People Structure
CoLAB is proud to launch a brand new, packaged solution, to help you to make your business more successful!
“We know that the success of your business is important to you, and at CoLAB, we partner with organizations that are serious about growing their performance and their bottom-line”, says Barend Cronjé, CEO of CoLAB.
Employee Engagement Increases Profitability
When organizations have strong employee engagement, the profitability of the business increases, Read more for tips and to understand how employee engagement increases profitability.
Checklists in Business
Not only are checklists useful in daily life, but checklists are also extremely helpful in business. Once you’ve identified and mapped the processes in your organization, you can bring them to life through checklists. Checklists are valuable for key parts of the 4 to 9 processes that drive the business, and help ensure that the right things happen.
Have you ever had a key person leave, and no one really knew all the work they do and how they will survive without them? Or are you experiencing “floating leaders” or “floating work”? The good news is, what feels like a major issue, is really just misaligned expectations that can be cleared up pretty quickly.
Matrix Organizational Structure – Yes or No?
When a business gets above 50 employees, the organizational structure should be designed to align teams around projects, product groups, industry segments, and geographical regions. This is the start of what is commonly called a matrix organizational structure.
The right people in the right seats
Do you have the right people in the right seats in your growing organization? Moreover, do you have the “right people, doing the right things, right” in your company? And importantly, do you have the right people in the right seats in the leadership team?
Know your Core Customer
Core customer should always be the most important word in your business vocabulary. Because it is the life blood of your company. Therefore, you should constantly be asking: Who is my customer? Where is my customer? How do I reach my customer? Moreover, these are building blocks not only for your marketing strategy, but also for your One-Page Strategic Plan (OPSP).
Own the mind-space of your target market
Branding is all about owning a piece of the mind-space of your target market, whether it’s in your local neighborhood, an industry segment, or the world. As a senior business leader, you must identify the words you own. What are the words that come up in the minds of your core customers when they think about your brand?
The 7 Strata Framework: The Strategic Thinking behind the OPSP
The 7 Strata framework will guide you through the strategic thinking for the OPSP. It is a comprehensive framework for creating a robust strategy that differentiates your company from the competition.
The SWT Tool for Senior Business Leaders
The SWT is a must-have tool for senior business leaders, because it identifies the inherent Strengths and Weaknesses within the firm, while also exploring broader external Trends. These Trends go beyond the industry and/or geography that the firm currently operates in.
The Core Purpose of your Organization
The Core Purpose of your organization gives ‘heart’ to your company. It answers the question “WHY are we in business”. And the answer is more than that of making money.
The Core Values of your Organization
If your company is ready to grow, whether by scaling up or through acquiring, it is important to have clear Core Values bedded down. This article focuses on Core Values, where they fit in in the One-Page Strategic Plan (OPSP), the role of the leadership team and the discovery of the Core Values of your company.
The One-Page Strategic Plan: OVERVIEW
Entrepreneurs, business owners and executives often face the challenge of, the faster your company is growing, the harder it is to keep everyone aligned. The One-Page Strategic Plan is the perfect tool to get everyone in your organization on the same page.
A One-Page Personal Plan for Business Leaders
A One-Page Personal Plan is a must-have tool for all successful business leaders and entrepreneurs. It helps you keep focus, amidst daily challenges.
Project Backlog – a single view of all the projects in your business
A Project Backlog is a tool that gives a single view of all projects in the business. It is a prioritized list of tasks that teams need to work on. Learn more about the value of a Project Backlog in this short article.
Strategic Planning Simplified
Having a strategic plan in place is one of the most important building blocks in the foundation of a business. In this article and video I share a simplified framework for strategic planning that you can use to future-proof your business in the new business landscape.
6 Tips on How to Adapt to Different Workplace Cultures
Each workplace has a unique culture that you’ll have to adapt to, especially if you’re a contract worker or start a new job. Here are 6 tips to help you adapt to different workplace cultures.