People walking on pavement marked by numbers

Part 4: Stewardship and the Numbers

Stewarding the Numbers Financial statements and accounting jargon can be confusing. What is the difference between accrual accounting and cash accounting? What does double entry mean? How does the income statement impact the balance sheet? Should I focus on my bank account or my profit and loss statement to know whether I am profitable? What […]

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Variety of Customers

Have You Profiled Your Customer Persona?

By Andrew Ballard Guest Writer This post originally appeared on and is reprinted here with the author’s permission. A few years ago I wrote a column, “The Four Secrets to Marketing Success,” that generated far more responses than usual. That feedback inspired me to provide more detail on each of the topics. This is […]

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Business leaders shaking hands

Part 3: Stewardship and Talent

Stewarding Key Areas of Expertise Business owners and CEOs of small, privately held businesses are faced with multiple demands on their time. They are tasked with developing new markets, growing the existing market, keeping on top of changing technology, creating a healthy internal culture, communicating a consistent brand to the marketplace, developing and maintaining customer […]

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Plants growing

Part 2: Practical Applications of Stewardship

Stewarding Profits The foundation of building a sustainable business is to make a profit. But how much profit is necessary to sustain a business? How much of that profit should be invested back into the business? How much of the profit should go into the business owner’s pocket? Good stewardship of profits requires carefully planning […]

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