Bookkeeping vs. Business Information Systems

Marilyn SanfordsmartPRENEUR Blog Series

Most small businesses hire a bookkeeper to keep track of the details and ensure that the business information is properly recorded, as well, that the financial records are maintained.    This does not, however, provide business insights.   “Bookkeeping serves as more of a preliminary function through the straightforward recording and organizing of financial information” Note Small firms can rarely ...

Balanced Scoreboard

Marilyn SanfordsmartPRENEUR Blog Series

What is a balanced scoreboard? Most people understand scoreboards.  For a business it is a valuable tool. It ensures that stakeholders have timely metrics, or indicators, to inform about key business elements, whether within or outside of tolerance. Knowing what metrics to track and getting that information on a timely basis is the key to a meaningful scoreboard.   "The framework ...

Dynamic Feedback Loops

Marilyn SanfordsmartPRENEUR Blog Series

Agile Workflow In 2017, I launched a start-up, LincEdge.  My goal was to create a fast, dependable, high quality, source of JIT labour in the Construction Industry.   That’s when I was introduced to Agile, which I’d incorrectly understood was confined to software development. Agile is a rhythm of workflow, that is rigid and disciplined and that creates feedback loops ...

Building Communication Pillars

Marilyn SanfordsmartPRENEUR Blog Series

A sustainable business depends on effective communications.  Company values, vision, purpose and mission are foundational. They provide clarity and alignment.  However, the Integrity and effectiveness of the foundational principles are upheld through and depend on communications. “When brands test, teach and learn along with employees on the go, you will not only solve the current problem but also future-proof your ...

Why Do Businesses Fail?

Marilyn SanfordsmartPRENEUR Blog Series

Unfortunately, business failure is common: About 20% of small businesses fail in their first year, only half make it through their fifth year and a staggering 70% of businesses don’t make it past 10-years. As for the remaining, it does not necessarily mean they succeed – it means that they’ve survived. So why do businesses fail?  According to Dun & ...

The X-Factor: Driving Customer Loyalty

Marilyn SanfordsmartPRENEUR Blog Series

The Oxford English Dictionary defines x-factor as “a variable in a given situation that could have the most significant impact on the outcome.”   According to an article by Sunil Menon “Brands that excel at delivering the best customer experience have something special, an x-factor.”  From our earlier article ‘Dare to be Different’, “50% of brand promises are not believed by ...