Doug and Polly White
Principals, Whitestone Partners Inc., a management-consulting firm
Doug and Polly White own
Whitestone Partners Inc., a management-consulting firm that specializes in helping small businesses grow profitably. They are also co-authors of Let Go to GROW, a bestselling book on why some businesses thrive and others fail to reach their potential.
Discounts sound good. But consider: Discounting strategy has its pros and cons.
The first thing you need to determine? The close rate needed to break even.
Client Relationship Management
Developing and managing client relationships is critical to the success of a professional services firm.
net income statement
These six tips can help you glean how healthy your business is.
For most employers, deciding whether or not to fire an employee is the toughest call they make.
Feedback should be tailored to the individual, well thought out and delivered close to the event. Anything else will limit the motivational effect.
First, do you really need training at your company? Second, should it be sourced internally or externally?
Lack of critical resources, bad policies and vendor issues may all arise. What should you do about them?
When you set objectives, your job is to clearly relay your expectations to the employee.
And a the failure to differentiate your product is a key reason for that lack of revenue.
Incentive-compensation systems are powerful motivators. However, make sure you design yours right so you have no regrets.
Getting to "profitable" takes longer than you think. First, you have to suffer a little pain.
First impressions: They're why it's so important to spend time planning your new employee's first day.
Starting a Business
If your product's unique aspects aren't defensible against a competitor's copy, it's time to fold your tent and go home.
Buying a Business
Avoid industries, for example, being overtaken by new technologies. Think: CDs.
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