Month: November 2024
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Business Breakdown Part II: Financial Statement Analysis
Last week, we kicked off a multi-post series working through a case study, Starbucks Corp. to be precise. We covered the business model, profit model, and unit economics and today we’re moving onto financial statement analysis. The goal for today is to show you how to pick apart a set of financial statements with ease. Quick…
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A Full Business Breakdown
We’ve covered a wide range of topics this year and it feels like a good time to work through a case study for added practice. To keep things simple, we’ll break this into a multi-part series covering: My goal is to show you how to assess your (or others’) business from top to bottom. As I enjoy…
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Defining Your Business Model (and Profit Model)
To run a successful business, you need 3 essential models: Sounds simple and you probably have a sense for these in your head. If you’re managing a large team, trying to grow, or climbing toward profitability; then keeping your models in your head won’t scale. You know… that concept of rowing in the same direction?…
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The Easy 4-Step Process to Build a Business Scorecard
If I were to “drop in” on your business today, could you tell me how things are going this week? Most business owners don’t have a formal tool or process for monitoring early warning signs (both good warnings and bad warnings). These “tools” go by many names: KPIs, scorecard, dashboard, balanced scorecard, report card. Queue…
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How to Work On Your Business Using Strategy
Can you give a quick and straightforward answer to questions like: If you’re anything like most business owners I know (myself included), then you probably live in a real-life version of whack-a-mole with tasks, details, decisions, and fire drills coming at you daily. I’m sure you’ve heard the phrase (cliché?): work on your business, not in it. Let’s walk through…