Category: Business Coaching

Everything You Need to Know About Net Promoter Scores (NPS)

A Net Promoter score is one of the most important metrics for evaluating your business and customer engagement. It measures customer loyalty and satisfaction, informing you whether customers promote your brand or dissuade people.  Find out how Net Promoter Scores work and why they’re incredibly valuable for your business. What Are Net Promoter Scores? A Net Promoter Score ...
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16 Ways to Increase Business Value Before Putting It on the Market

There are many reasons to sell a company, from industry changes to lifestyle shifts to sweet, sweet retirement. No matter the reason, every business owner wants to sell their company for top dollar so they can walk away with a decent profit.  Even if your business is already highly valuable, it could likely be worth more ...
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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 ...
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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 ...
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The Four Types of Organizational Culture (With Examples)

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

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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, ...
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30 Growth Mindset Quotes to Inspire You in 2024

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

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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 ...
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