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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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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“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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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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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 ...
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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, ...
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Are you waking up to the alarm and dreading the workday ahead?
Perhaps you’re daydreaming about a career that makes you feel good about what you do for work.
Or, you’re a completely different person than you were when you entered your current field, so it no longer aligns with who you are.
At Catalyst Group ECR, we ...
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Transitioning a business under intensive buyer scrutiny is no easy feat. It takes a lot of work to position your hard work and legacy in such a way that convinces potential buyers that it’s a worthy investment.
We’ve previously covered understanding the buyer’s perspective, achieving financial and operational readiness, and considering the legal and compliance issues ...
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When you’re ready to exit your business, the thought of exposing the insider details to buyer scrutiny during the due diligence phase can cause a lot of apprehension.
First, know that it’s natural to feel protective and even defensive. You’re not alone in feeling this way. Most business owners have to grapple with the reality that ...
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You know those days when you’re on a call, replying to an email, and unjamming your printer simultaneously? We’ve all been there and perhaps even taken pride in our ability to multitask, wearing it as a badge of honor among busy professionals who can supposedly get more done in the 24 hours we all have ...
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