Posts

5 Steps to Selling Your Small Business

Deciding to sell a company is a huge step, but it’s only the first in the intricate process of selling a small business.  To prepare for what lies ahead, this is an overview of the steps to selling a company. Before doing anything drastic, take a  few moments to understand what a business sale entails. Consider Reasons ...

The Value of Good Stress

Your pulse quickens, your palms start sweating, and your breathing becomes difficult. We’re all familiar with the symptoms of stress, and for many professionals, stress is a common side effect of balancing a busy work schedule with the obligations of family life. While high levels of stress can be a cause for concern, it’s also possible ...

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 ...

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 ...

A Guide to the OODA Loop for Decision Making

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Being a business leader is not for the faint of heart. It’s a position marked by constant, high-stakes change and complex decision-making. The right decisions could propel a business forward, while a misstep can lead to setbacks or even the prospect of shutting up shop. It’s no wonder leaders want frameworks they can rely on ...

4 Creative Small Business Customer Retention Strategies

Did you know that acquiring a new customer can cost up to five times more than retaining an existing one? Or that increasing customer retention rates by just 5% can increase profits by 25% to 95%? While bringing in new faces is always exciting, it pays to remember the people who’ve already bought into what you’re ...

5 Financial Metrics Every Small Business Owner Should Monitor

If you’re anything like me, you started your business with a vision and enthusiasm. We pour our hearts into our ventures, hustling day in and day out to turn dreams into reality.  But here’s the truth: passion and hard work alone aren’t enough to ensure long-term success.  The numbers often tell us the real story of how ...

A Case for the Curious Workplace

Curiosity killed the cat, they say, but fortunately, you’re no feline.  More and more, business leaders are seeing the value of having a curious workplace for themselves and their employees. Curiosity fuels success in ways we’ve never seen before as leaders tap into their insatiable thirst to know, do, and be more. However, there is still some ...
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25 Ways to Reduce Small Business Overhead Costs

As a small business owner, you’re always looking for ways to stay ahead of the curve and ensure your company’s continued growth and success. One essential aspect of managing your business effectively is keeping your small business overhead costs as low as possible. Reducing overhead expenses helps improve your bottom line and allows you to allocate ...

Moving Towards an Employee Strength-Based Workplace

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Not too long ago, workplaces were defined by rigid job roles with a specific set of expectations. Recently, many businesses have moved towards an employee strength-based culture, creating a positive shift in engagement, retention, and overall productivity.  The successful modern workplace is one of flexibility, employee agency, and open communication. It prioritizes a culture where employees ...