// key reporting area (KRA)

Strategy

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Being equity precious when growing your small business

Elephant or ant? Being “equity precious” in your small business can hinder its growth (and your pocket).

Here is one of my favourite quotes when it comes to strategy for small business. It beautifully sums up the quandary many entrepreneurs fall in to early in their business career, under the curse of being “equity precious”: Or, another common way this is put is – “it is better to have 25% of something, [...]

The 4 by 2 or 2 by 4 rule for growing small businesses

The rule of 4 by 2 for growing a small business.

A few months after writing about the rule of 4 (that small business is harder than most people think – especially to grow), I heard another battered, bruised and successful business owner put an even better twist on my rule of 4 for small business. He called it the rule of “4 by 2″. Here [...]

The rule of 4 when growing your business

The rule of 4, for small businesses going for growth.

When people ask me for advice about starting a small business, I tell them of the rule of 2. It comes from a rule I once heard a VC (Venture Capitalist) share – the rule of 6.  He says to entrepreneurs looking for investment from him “it’s 6 times harder, and will take 6 times [...]

Grow a small business with KRAs

Running an effective KRA Managers meeting.

As we talked about previously, the KRAs (Key Reporting Areas) each have an ‘owner’. We need clear roles, responsibilities so we then have accountability. Not to be used in ‘management by fear’, the old autocratic style but to allow people the freedom to own their corners of the business – a much more effective approach. [...]

Grow a small business - start with the end

Where to begin? At the end.

One of the first things I ask someone when I start mentoring them is “when do you want to sell?” After a few blinks and an incredulous look, most pipe up and passionately retort with “I haven’t even started yet, why would I think about selling!?”  To which I go on to explain the crux [...]

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