Peter Drucker once said that businesses had two main functions -- marketing and innovation -- that produce results. "All the rest are costs."

If you agree, that means that the average business has a lot of fat to trim. Obviously you can go overboard trying to cut costs too. My philosophy has been to look at some of the general areas where you can add some efficiency but not at the expense of impairing your truly most valuable resources -- your focus.

What would happen if you were sued?

Now, you might say there’s no reason for someone to sue you. And while there might not be a legitimate reason, business owners are sued all the time. Just because a lawsuit is unfounded doesn’t mean you won’t find yourself in the middle of one. What’s more, lawsuits can be stressful and financially disastrous -- even if you did nothing wrong.

Every time someone from your company speaks with a customer, that customer receives an experience that falls somewhere between “exceptional” and “exceptionally awful.” Get it right, and customers will talk to their friends about you. Get it wrong, and they’ll talk even louder.

Though the two terms are often used interchangeably, evolution is different than growth. A company that is growing might not necessarily be evolving at the same time. Growth typically refers to things getting bigger: your team, your client list, your productivity rate, etc. But as the CEO of a business financing firm, I’ve found that growth doesn’t always mean the company is prepared for the next stage of its journey.