Category: Business Coaching

Business Valuation Basics: What’s the Difference Between a Business Valuation and a Market Appraisal?

Assessing all aspects of a business, from tax liability to property assets to brand reputation, can show the company’s true value.  Business valuations and market appraisals are the best ways to determine this value. However, these two evaluation methods have some differences to be aware of. Business Valuation Vs. Market Appraisal Business valuations and market appraisals have the ...
/by

Avoiding Pitfalls of Family Dynamics During Succession Planning

Succession planning for any business can be a delicate situation, but especially so for family-owned businesses. There are a lot of things that go into the process that can make things complicated and even ruffle some feathers, but within a family unit, there are specific challenges one might face.  Family dynamics can shift with any significant ...
/by

The Four Types of Organizational Culture (With Examples)

, ,
When it comes to business success, implementing the right organizational culture is vital. There are different types of organizational culture that you can choose, and each one will help shape your company as it grows over time. The financial success and customer and employee happiness are heavily influenced by an organization’s culture, regardless of the ...
/by

What Is the Difference Between Strategies vs. Tactics?

As a business owner, you know that having a solid plan is crucial for success. Besides keeping everyone on the same page, planning sets a direction for your business, ensuring consistent results that align with your long-term vision. When developing a business plan for the future, you’ll likely combine several elements that differ in purpose and ...
/0 Comments/by

Overhead Expenses: What They Are, How to Track Them, and Top Strategies for Managing Them

As a small business owner, managing your organization’s finances is one of your key responsibilities, including meeting your business’ financial obligations. These obligations include the ongoing expenses related to your day-to-day operations. These costs are known as overhead expenses and represent the true cost of running your business. At Catalyst Group ECR, we often see business owners ...
/0 Comments/by

Growth Mindset vs. Fixed Mindset: What Would You Do?

,
If being a leader was an easy job, everyone would do it. But it’s not.  Whether heading a team of 10 or 100, being a leader is incredibly challenging and comes with a boatload of responsibilities. How you handle them determines how much potential your organization has to grow– even in the face of market slumps, ...
/0 Comments/by

30 Growth Mindset Quotes to Inspire You in 2024

,
“Growth mindset” is a term coined by American psychologist Carol Dweck in her book Mindset: The New Psychology of Success. In it, she compiles her decades of research and insights to explore how the way we think about the moldability of our talents and abilities can transform the way that we approach challenges and opportunities ...
/0 Comments/by

Succession Planning Part 2: Developing Your Successor Into a Future Success Story

,
In Succession Planning Part 1: How to Choose Your Business Successor, we covered the importance of choosing a protege by balancing your business needs and your ideal candidate. Today, we’re talking about developing your successor by equipping you with tips to capitalize on the time between designating your successor and exiting your business. Get Into the ...
/0 Comments/by

Merry Christmas and a Very Happy New Year!

It’s the most wonderful time of the year!  Despite all of the stress and chaos of planning dinners and wrapping gifts, I love this time of year because it reminds me to reflect on the progress I have made in a year and what I hope to achieve next.  When you’re in the moment, it’s sometimes impossible ...
/0 Comments/by

Succession Planning Part 1: How to Choose Your Business Successor

,
Business owners often think of succession planning as a task for another day– sometime in the far-flung future when it’s time to retire and reap the fruits of your labor.  That’s not quite the case, though.  As we all know, life is unpredictable. Any number of things could suddenly force you out of your role as owner, ...
/0 Comments/by