Actionable Advice

How to Use Customer Segmentation to Drive Higher Profits

Customer Segmentation Strategies

In almost every business, just 20% of customers account for 80% of profits. And many businesses would be better off if they simply did not have to serve the bottom 80% at all!

But before you go out and fire 4 of every 5 customers, take a closer look. By understanding the profitability of each customer segment, and adjusting your operations accordingly, you can keep the customers and maximize profits.

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How to Win a $100 million Finance Defamation Lawsuit

If you’ve been slandered publicly in print or on the internet, It is possible to win a defamation lawsuit. This recent judgement is a great case study in how to win.

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Raising Venture Capital: Big Headlines Hide the Ugly Truth

Raising VC Money is Not As Easy As the Headlines Make it Seem

Dataminr, Inc. is celebrating a new $130 million investment from leading angels and VC… on top of $50 million raised since opening their doors in 2009. The latest investment values the company north of $700 million.

Do headlines like that leave you Dazzled? Jealous? Do they make you think that raising venture capital is the easy, fast and sexy? Think again. Behind the headlines are 4 tough truths about raising venture capital and private equity.

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Hire an Accounting Wizard Without Trying (Part 2)

hire an accountant - hire a wizard

Last week when I finally decided to hire an accountant, I was up to my ankles in alligators. The last thing I wanted was the administrative nightmare of responding to resumes, scheduling interviews and sorting skillful accountants from the merely competent.

If you read last week’s post, then you already know how to attract the best accountants to apply for a job at your company. Now you need to pick the best one and hire them as quickly and efficiently as possible.

Here’s 2 tricks — and 1 fail — I found that made the process smooth, short and amazingly productive:

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Small Business Fraud: 5 Things You Must Do to Protect Your Business Now

small business frauds

Every year, two out of three small businesses fall victim to some level of fraud. Not all of them know it. Some never will. The damage may be small and contained … or it may still be growing. Worse, 80% of attempted small business fraud comes from outside of the organization. That means that your company’s financial data is most at risk after it leaves your office, where it may be completely out of your control.
How big of a problem is this? The average small business fraud victim lost $23,100 … but there are 5 key things you can do to avoid this fate.

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How to Hire an Accounting Wizard (Part 1)

hire an accountant - hire a wizard

I recently hired several new accountants to join our staff — a task that I had been dreading for months. Drowning in a flood of mediocre resumes sounded like an administrative nightmare.

The average job posting gets more than 250 applications… but you really only want the 3 best. And if you could be instantly handed the ONE that was a perfect fit? Even better, right? With that in mind, recruiting seems like a huge waste of time… and yet the process is vitally important.

Happily, there are several ways to cut the time required and assure a much better outcome. Here is the first trick I found that saved me about 3 days of toil.

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7 Ways HR Software Will Change the Way You Work

HR Software and HR Automation

Since HR influences every department and employee, the data it generates plays an essential role in maximizing efficiency and streamlining operating costs across the board. Rolling out HR software presents at least 7 great ways to streamline and optimize operations, improve decision making, and drive efficiency and productivity across your organization:

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Why Mergers Fail: The CFO Role can Make or Break an M&A Deal

83 percent of mergers have failed to result in increased shareholder value… but a successful merger does not have to be elusive. CFOs that focus on pre-close planning, organizational culture integration, and post-close execution can achieve improved shareholder value from a successful deal. Read more about how to think about — and execute — a great M&A strategy. Get your CFO into the mergers and acquisitions game!

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