When looking to purchase another firm, a SWOT analysis is a critical step in evaluating your firm’s and your market’s strengths, weaknesses, opportunities and threats. Dear Dan, I recently bought a funeral home in the next town. I think I did everything right. For years, I clipped your articles, and they helped prepare me for […]
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To successfully move their firms to a secure future, owners must have clarity of vision. Begin by answering these four important questions. Being a successful business owner requires vision, and the clarity of that vision will provide the best chance of success into the future. You must see – or predict – the future and […]
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Dear Dan, About 20 years ago my wife and decided to start a cemetery with two other couples. We knew nothing about the cemetery business before this venture began. We found land and a landscape architect. We hired companies to build some above-ground crypts and niches. We invested some of our cash and borrowed heavily […]
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Do you understand why your business has a profit? It is simple math. Revenue, minus Cost of Goods Sold, minus Operating Expenses equals Profit. If profit is as simple as a 3 entry math equation, then why have profits declined 60% or more during the past 30 years of the funeral profession? The simple reason […]
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Financial and operational plans aren’t the only aspects of strategic business planning. Astute owners will also consider marketing. My fear in composing an article on strategic planning is repeating myself. Funny that I don’t have that same fear when telling jokes to an audience, but to an audience of readers, I am concerned about this. […]
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