Cash Is King: Business Strategies for Improving Cash Flow
The adage “Cash is King” is true for business at any time; however, during challenging economic times the king’s reign can seem particularly taxing. Businesses are feeling many constraints, including decreased sales, tightened margins, and increased labour costs. On top of this, interest rates continue to rise, making additional debt less appealing. Managing cash flow can […]
Managing Inflation: 5 Things Your Business Should Be Doing Right Now
The past few months have produced something that many of us haven’t seen in a long time: significant inflation. In April 2022, Canada’s official inflation rate reached a new 31-year high. This is challenging for many people personally, but even more complicated when looking at your business. You may be asking yourself if your business […]
Increase Your Enterprise Value
Valuing Your Largest Investment No matter where their company is in its life cycle, all business owners want to enhance the value of their business. Business value, often called enterprise value (EV), refers to the value of the whole company as perceived by the marketplace. Business owners seeking funding (equity or debt), gifting, considering a […]
The Only Sustainable Competitive Advantage
Long-term Value of Early Adoption Early adoption of circular economy principles has many advantages that will put a company far ahead of the competition. And who isn’t looking for a sustainable competitive advantage? Capturing new revenue sources earlier than others will provide revenue streams that add to a company’s enterprise value. As cost savings are […]
Using the Circular Economy to Add Value to Your Company
Sustainability and increasing profitability can go hand-in-hand Traditionally, businesses have looked at building a sustainable business and profit as two conflicting objectives. Many businesses commonly consider sustainability as a cost to the business. The circular economy creates a paradigm shift in that it shows businesses how they can use the circular economy to add value […]
Succeeding in Life and Business
Twenty years ago, people chose between making money and doing what they love. In today’s economic landscape, it’s become more common to do what you love and figure out a way to make money doing it. Over the past two years, many people have reevaluated what is important. I wholeheartedly believe that succeeding in both […]
Planning For the Year Ahead
Creating an effective business strategy As we near the end of another year, it’s time to think about the year to come. While I’m not a big fan of locked-in budgets, creating a plan for your company is a key ingredient to success. While a business may well survive without a business plan, there is […]
The Misconception that ‘Going Green’ will Reduce Profit
5 Myths Debunked The circular economy philosophy shows that companies can increase revenue, profit, and cash flow by adopting greener ways of doing business. Why, then, doesn’t every company jump immediately into circular methodologies? The two commonly cited reasons are: it will reduce profit; or, it isn’t a top priority. Some of the reasons for […]
Applying Lessons from SaaS-based Revenue Streams to the Circular Economy
Servitization of products is a very exciting philosophy within the circular economy. Creating a subscription base or a rental base can allow manufacturers to sell the same product multiple times. The software industry discovered this early on. The Software as a Service (SaaS) business model grew 23% in 2018, becoming a $72 billion industry. Since […]
What is the Internet of Things?
Today it’s hard to find an appliance that doesn’t have an option to connect to the internet. We have smart refrigerators, stoves, thermostats, and can even turn music on with voice commands. Many of these appliances include sensors that can detect key failure points and prevent them from failing — even before it happens. This […]