Unless you are wealthy and can cover the cost of paying it back, have investors who can cover it for you, or have massive cashflow to cover it through salary, I don’t recommend taking out loans at the offset of launch your s…
This episode offers five strategies to help small business owners establish effective time management. SPOILER ALERT: You will never achieve genuinely effective time management, but don’t let that stop you from the attempt.
The importance of networking, partnerships, and collaborations in driving small business growth cannot be understated. Despite the potential frustrations and exhaustion, remember that these connections can provide invaluable…
Small businesses have no choice but to try and leverage technology to improve customer satisfaction. However, in this age where it is hard to get someone on the phone, you have the advantage of providing a personal touch, ma…
Creating a solid brand identity and value proposition for small businesses can be daunting. But the best you can do out of the gate will help you immensely, even if your initial ideas need to catch on for the masses.
You may only need a little paper or minimum time with a lawyer on retention to get down to business. But you need to know this from the first day of offering your products and services for sale to the public.
Stories of people who could start and grow a business with minimal external funding are great. These stories also convince many people who can’t bootstrap their business to give it a shot when they should not.
Managing your finances, including budgeting strategies, cash flow management, and cost reduction techniques, will make the difference in you being a long-standing success or a quick financial failure.
Following some basic initial steps for launching a small business will save you time, frustration, and money in the long run. This involves choosing a business structure, properly registering the company, and being honest ab…
Build a foundation from the beginning that reflects your values and how you want to be seen. That makes it easy to run a company that maintains your values.
If you’re just looking for something to do, especially if you have a large amount of money burning a hole in your vault, taking on a business opportunity is typically a terrible path to take to alienate that boredom.
Polish up your business plan and get to work. Find seller financing. Raise funds from investors. Use different types of loans. Ask friends and family who understand how investing in a business works. The financial risks of g…
Things will go wrong in your business. Don’t attempt to survive on sheer will. Have understood and ready to implement plans in case of multiple downside scenarios.
Knowing how long and how much fiscal damage it will take to sell a business if you want (or need) to should be known before you receive the keys to the building. A business that doesn’t align with your exit plan may be a bus…
If you have never worked in an industry, you should avoid taking on the responsibility of a troubled business. A turnaround story on an unprofitable business is excellent to tell but hard to write if you have never done it b…
Before making any significant changes at a company you are taking over, take as much time as you need to understand how everything functions and who the key players are. Your genius changes to the process may have been attem…
When an applicant interviews for the job of a lifetime and you are just trying to fill a spot with any able body, both sides will find the process frustrating.
Are you an 'elite expert' or the 'just as bad as you' guy when it comes to the Guru Game? Understand what game you intend to play, and play that game well when you deal with how you work with mentors.
There is a lot of pre-launch effort that goes into launch day for your business. This counts for the business entity of your choice, you, and the people who will lose time with you as you pursue your business success.
Prepare to make sacrifices in your personal life when establishing your business. In turn, prepare yourself to understand the need for these sacrifices will mostly come from those who work for you who are unwilling to make t…
