Steve Marr Blog

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Category >> Strategic Planning
Sep 24
2015

Investing in Another’s Business

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Investing in Another’s Business

Sometimes people ask me for advice about investing in another person’s business. I typically respond with four questions. One “no” answer means I recommend they do not invest.

1.     Can the business clearly identify their Unique Sales Proposition?

Aug 28
2015

Software and Computer Speed

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Over the past 30 years the technology behind computers and iPads has been remarkable. Today we process faster and faster. Our laptops process much faster than any of us imagined 10 years ago. In the future, the speed and miniaturization will continue to improve. At this point, these changes won’t matter to us as much.

Aug 03
2015

The Economic Value of Business Assets

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All businesses, large or small, buy assets. Whether you buy an ink pen or a multimillion-dollar building, the asset has some type of economic value. As a business owner, you need to understand the economic value of asset purchases. At times the price you pay may exceed the economic value. When this occurs, you are really buying a consumer good rather than investing in your business.

Jul 13
2015

Do You Have a Job or a Business?

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Every business has two distinct parts, the job and the business. A job cannot be franchised or leveraged by getting people to work for less to generate more income. A job is limited to what you can produce. Some jobs produce high income, even a million dollars.  An entertainer, for example, may earn a large income, but is limited to what they can produce. Authors are somewhat in the same situation.  An author can only write so much. Authors who co-write books have found a way to expand their work. Many bestselling authors use co-authors to help churn out pages. The main author provides the idea, outline and assumes some of the work while another produces the heavy volume of work. Even with this model, a writer is limited concerning how much the specific job or project can grow.

Jul 06
2015

Hold to Your Unique Sales Preposition

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In the past I have written about the importance of the Unique Sales Proposition (USP) to any business. Read my earlier teaching here: http://bit.ly/1Fml0Fm . The USP becomes the key focus for your business. This is what you do well. It’s how you are different from other competitors. Whenever a business loses their focus on their USP or their USP disappears because of competition, you are headed for trouble.