THE VALUE PROP BLOG

What to Do When Your Revenue Stream Goes Dry

covid-19 strategy Jun 30, 2020
Your job as CEO is to lead your company to new opportunities, capitalize on them, and generate revenue streams. But the question is, how do you do that well in a fast-changing environment like the one we’re in?

Owners have often referred to their various revenue streams as “rivers of cash.”

The metaphor flows (pun intended) because one can visualize having to “navigate” these rivers. There are "rapids" of activity; decisions that "make waves"; and resources...

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What I Learned From My First Business

strategy Jun 30, 2020
My first business? Yeah, it failed. Here's what happened.

It was New York, it was the early '80s, and there I was: a fresh 20-something, son of immigrants. I didn't run with the most optimistic crowd--but I had a dream of becoming a comic book artist. And I wasn't too shabby, I even enrolled in art school!

But it didn't take long for me to realize I was a long way from becoming Stan Lee.

That's when I got the idea for my first business: a comic book delivery service for serious...

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Why Getting Back to Normal Shouldn't Be Your Goal

covid-19 strategy Jun 18, 2020

You’ve probably heard it said—or even said it yourself: “When business goes back to normal, then…” Ahh, yes, normal. The days when you didn’t need a face mask to go grocery shopping. The days when you could have meetings in person. The days before COVID-19.

It’s easy to look back with a nostalgic longing for those days. We all wish we had a magic eraser wand and could set the clock back to February. But of course, we can’t.

In fact, we...

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Don’t Panic! Six Truths for Business Owners in Crisis

While it may feel like the whole world fell apart overnight, now is not the time for despair. Here are 6 truths to hold on to in the midst of Coronavirus.
 
In the words of Mike Tyson, “everyone has a plan until they’re punched in the face.

As business owners, we’ve always known that the greater economy is beyond our control. And when things look rosy, this fact isn’t so scary. We have plans and strategies. We know our markets, our target customers, and...

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3 No-Stress Tips for Preparing Strategic Planning

ownership strategy Feb 26, 2020

Preparing for strategic planning can be stressful. Before you book your conference room, spend time reflecting on these 3 ideas.

Strategic planning preparation is all about having the time and space to reflect on your business. But, we know that business owners are busy people. According to The Leader’s Calendar, the average CEO works 62.5 hours a week. As a result, a lot of business owners plan on the fly and when it comes to their strategy meetings, they struggle...

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When You’re Too Busy for Strategic Planning

ownership strategy Feb 19, 2020

Failure to plan is planning to fail. But how do you carve out the time for the strategic planning process?

I often run into business owners that have a sense of urgency and purpose about their business. They are committed to growing their company and are working hard at it. They have a growth mindset, just like we talked about. But within that desire for growth, they also have a fatal flaw.

It’s a failure to plan. And, as the saying goes, a...

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5 Questions to Define Your Business’s Mission

ownership strategy Feb 05, 2020

Defining your mission is one of 7 Critical Priorities that an owner-operator must consider when thinking strategically. But how do you do it?

Not sure what should be a priority in your business? Review this post.

What’s the first answer that comes to your mind when I ask, “Why does your company exist?

For a lot of people, this can be a tricky question. The answer might be as simple as, “To make a living. To provide for my family, put food on the...

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How to Set Your Small Business’s Priorities

Decisions you make now will affect the future of your company. Here’s how to set your priorities and stick to them.

Imagine you’re the captain of a boat in the middle of the ocean—and your boat springs a leak. Your crew begins to panic. They bombard you with questions. 

  • How fast are we sinking? 
  • How can we fix it? 
  • Are we going to die?!

In this dire situation, only one question truly matters: Where is the hole? ...

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3 Reasons You Need to Sharpen Your Mission and Vision

mission strategy Mar 18, 2019

Yes, I can hear you groaning from my quarantine bunker…

Some owners may find defining their mission and vision to be a waste of time, reserved for consultants at high-end companies. Or they may have done this years ago and the end product is gathering dust on a plaque somewhere.

But in this time of economic and social...

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The Dangers of Customer Concentration

sales strategy Mar 07, 2018

When our business is doing well, it’s easy to just enjoy the ride and ignore dangers lurking below the surface. But those dangers can emerge at the worst times to deliver damaging blows to our growth, our revenue, and our overall success.

“Customer concentration” refers to the amount of your revenue that relies on a single client. Usually, a business is said to have too much customer concentration if more than 10% of its revenue is reliant on one single client...

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