In an interesting article on Forbes.com, J.J. Colao argues for a simplification of financial models for the next generation of startups. Create a way of tracking growth and projections in your financials that is lean and fits your entity. The key is making sure that whatever metrics you use in your business, that they are tied to your long-term goals.
Measure those things that are important to your business in a way that will allow you to progress and adjust as necessary. Make sure that your financials show you the information that you need to know and that will allow you to make the most beneficial decisions for your business. As you build a strategy that works for you remember to adjust it as your business adjusts.
Also, remember that budgets and projects are a necessary part of doing business. If you are aware of what is going on in your business, you are better equipped to succeed.
The Key To Motivating Employees: Make Sales A Game
We are dealing in an environment with a workforce that may see things differently than the past. The rising generation reacts and adapts to changes differently and is motivated differently. This article from Fast Company analyzes the new buzzword in technology, ‘gamification’ and outlines how it might be used to improve sales within your business.
What is your business doing? Have you ‘gamified’ any departments in your business?
Whatever Can Go Wrong, Will. Start Up Anyway
Entrepreneurs face challenges. They always well. Things are not easy and that is what makes the success so much more fulfilling. The above article from Inc. illustrates the challenges that startups face and the rewards that come from staying the course. I definitely appreciated the inspiration.
What challenges have you faced in launching your business? How have they been overcome? Leave a comment below and let us know: