Speaking about finances is a topic that strikes fear and apprehensiveness in many people – whether they are business partners, personal relationship partners, employees, or friends – because noone wants to have these discussions when they are doing well (in case someone wants to borrow money) and especially not when they are doing poorly (in case they want to borrow
An operating agreement is a key document used by LLCs because it outlines the business’ financial and functional decisions including rules, regulations, and provisions. The purpose of the document is to govern the internal operations of the business in a way that suits the specific needs of the business owners. + If a company is a multi-member LLC, the operating
What the company does? Sandi Webster LLC coaches small business owners to form advisory boards that help scale their businesses with a focus on increasing EBITDA towards a successful exit. Business owners learn the difference between a board of directors and an advisory board through an online course or one-on-one coaching. The Current Landscape In the current pandemic
I’ve taken many leadership profiles over the years in the workforce, so I have a good idea of where my leadership style should fall in my current roles as Mentor Chair and Vice President of Public Relations in Omni Toastmasters. Still, I was curious to see the results of this recent assessment. I was pleasantly unsurprised. I’m sharing my leadership
There are small things that happen in your life that you ignore. Then, there are things that you must pay attention to because they mean so much not only to you but to your family and future generations. When I walked at graduation for my Doctorate of Business Administration from Temple University, I felt the impact and importance of
Sales skills consistently rank among the essential skills small business owners should cultivate. Many of us entrepreneurs started our companies because we were the ones with the expertise, not because we knew how to run a business. Most of us did not come from a sales background, even though we worked in corporations, so we don’t realize the amount of
What exactly is unconscious bias? We all have a different understanding of bias, so the definition becomes more confusing when adding “unconscious” to it. Unconscious means the part of the mind which is inaccessible to the conscious mind but which affects behavior and emotions Bias means to cause to feel or show inclination or prejudice for or against someone or
Do you know the style of communication you use when speaking to someone? Have you thought about the other person’s style and how you should interact with them? According to Toastmasters International, “communication is a two-way process for reaching mutual understanding through verbal, non-verbal, and written messages. Communication style is defined as the way in which individuals interact with one
Your advisory board members only get together a few times per year. That’s not enough time for them to get to know each other. Regular interaction allows them to understand how each other can best contribute to your company. Having a retreat gives them the time to communicate in a social setting. Pick a place Select a place
During the COVID-19 pandemic, words that described the state of businesses and entrepreneurs included pivot, out-of-business, challenging, unprecedented, and my favorite, resilient. What does it mean to be resilient or to have resiliency? The dictionary definitions of resilient are: (of a person or animal) able to withstand or recover quickly from difficult conditions. “babies are generally far more resilient
