Financial, management, and business advice for entrepreneurs.
Business owners need to get their budgets right to succeed. Nevertheless, this is something that most leaders tend to get wrong. The vast majority of projects tend to go over budget, and this can really hurt a company’s profitability. It is, therefore, of little surprise that this is often an area of focus for […]
A legal issue can happen to any business owner. Your business may never be accused of negligence, malpractice, or wrongful employee termination. However, it’s important that you protect your company from these risks, because the financial impact can be huge.
You may be old enough to remember David Letterman’s Will It Float? skits. Letterman would toss an object into a huge tank of water to see if it would float. There was music, dancers, and other fanfare to make it seem like a big deal- the skit was performed for years. This brings up another […]
A majority of new businesses fail. Why? Lots of reasons. Maybe the product or service isn’t attractive enough to motivate people to buy. Businesses also fail because owners don’t manage growth well. However, the biggest reason for a business failure may be financial- and you can take steps to avoid the problem. Here […]
Career paths can be very different. Some people have the same career for their whole working lives, but many people change career paths at some point. It can happen naturally, without you really making an effort to change, but sometimes you need to find a new direction. Here’s how plan for a career change: […]
Succeeding as an entrepreneur requires you to do two difficult things at once. First, you have to manage and grow your business, and that includes creating a great product or service that solves a problem for your customers. You have to deliver a quality product or service on time, market your services, bill your clients, […]
Starting your business is exciting. Having your website created, designing your user experience, setting up your invoice system, and cloud storage are just some of the things that need to be done. And if you’re a brick-and-mortar business, you’ll be in your store fixing up the decor, connecting the cashier systems, and stocking inventory on […]
“Hi, Mr. Boyd? This is Joe, the restaurant manager. The credit card you used to pay for your carryout food wouldn’t go through. Your bill wasn’t paid.” “Ummm- that’s not right. My son just picked up the food, and he paid cash.” Joe flipped through some papers.
There’s a fine line that all small businesses walk. The line between keeping overhead costs manageable and ensuring that they’re investing appropriately in their business. All entrepreneurs know that reckless, or frivolous vanity spending can mean doom for a new enterprise. On the other hand, failing to invest in the right employees, the best equipment […]
Of all the mistakes we make in business, poor communication is something that we’ve all done from time to time. Whether it’s not making yourself clear with your employees, or a serious error in your advertising communication, we’ve all dropped the ball. Great communication, however, is a fundamental tenet that solidifies your relationship with customers. […]