How to Upsize
Adam Hennen <br>OLSEN THIELEN & CO The typical organization loses 5 percent of revenue each year to fraud. The losses caused by fraud go straight to the bottom line because you’ve already incurred the cost of sales on those losses. So for the average company with $10 million in sales, that’s $500,000 taken straight off the bottom line. To counter the impact of fraud, the sales team would have to drum up an additional $1,250,000. Continue Reading →
Matthew Jensen <br>FAFINSKI MARK & JOHNSON For most people, estate planning means taking the necessary steps to provide for their families. Continue Reading →
Jeff Wright <br>CORPORATE FINANCE ASSOCIATES We will occasionally meet a company owner who is personally motivated to sell Continue Reading →
Heidi Carpenter <br>FAFINSKI MARK & JOHNSON As most of us were recognizing all of the great moms in our lives, Gov. Mark Dayton was busy on Mother’s Day signing the Minnesota Women’s Economic Security Act (WESA) into law. Continue Reading →
Brian Bellmont <br> I’ve spent time on both sides of the camera, both as a TV reporter and, for the past 20 years, as a public relations consultant, working closely with clients in Minnesota and across the country to prepare them for interviews. Continue Reading →
LAW: Protecting trade secrets
Small businesses commonly overlook or follow poor procedures when it comes to their trade secrets, igniting a chain reaction that can culminate in the loss of valuable company assets. Trade secrets are the everyday tools of your business, ranging from formulae and source codes to strategic plans and business contacts. By establishing and following strict internal controls relating to protection and distribution of confidential information, your company can shield itself from the misuse, theft, or destruction of valuable intellectual assets.
SALES & MARKETING: Avoid costly price wars – with a strategy
To the degree that you can differentiate your product in the marketplace, you can price according to value provided to the customer. This also requires that you develop a clear and compelling communication strategy regarding the features and advantages of your product. Customers object to price when they are confused about what they are getting from you compared to the competition. The ability to closely convey how your product is different or better will pave the way for higher receptivity to price.