Business

  Starting a business takes a courageous and entrepreneurial spirit to make your idea become reality. Making that business successful takes commitment, and lots of it. Mike Michalowicz once said, “Success in business isn’t about being right; it’s about being committed.” There is a myriad of things that can present obstacles for a business. Such as financial challenges, competition, market fluctuations, and labor shortages. Running a business is...

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I want to point out here that it is both normal and beneficial to be competitive at work. Being competitive makes you more productive and ultimately helps your company become more competitive as well.   As I have been noticing hyper-competitive people, I see a lot of them crash and burn because they make too many enemies. Very few consistently compete and win. Let’s take a look at what the "few" do differently:   They choose their own...

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This is the most important thing you can do when it comes to running your small business! Hands down, the failure to plan is the main reason why small businesses fail. More specifically, the main reason why small businesses fail is poor planning.   Small businesses fail because of what people who start small businesses don't do.   1) Don't do the market research to find out if there's...

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Business owner stressed after an anchor employee leaves.

  With a growing company, you will have given some important responsibilities to others. You may have to rely on someone else to accomplish mission-critical tasks. This is especially true if the job they do is created by the employee or is in an area outside your comfort zone.  Sometimes an employee will become "indispensable" in your mind. When you lose that top-notch employee it is...

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In today's tumultuous economy, many business owners are in need of a jolt -- something that helps their companies grow, whether it's finding new ways to sell their products or to broaden their customer base. Of course, there are many potential avenues for achieving growth, and each business needs to assess at its own business model and determine its own path.   Not sure where to start?...

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How resilient are you? That is the real question that you must consider. You own a small manufacturing business with a healthy profit and loss and balance sheet, but during a severe economic downturn, demand falls and you begin to return trading losses. Are you going to be able to ride out the storm? Some customers will default, leaving you with a need for finance to...

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Expect the best, plan for the worst and prepare to be surprised ~ Denis Waitly The implications of any potential change will differ from business to business. To assess implications for your business, there are a number of questions you may consider. Naturally these would include what is the likelihood of change and what is the likely pace of change. There are also questions that are more...

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Financially there’s a lot at stake for retailers during the holidays. It’s no surprise retailers are asking, "At what point do I begin my holiday promotions? How do I avoid pushing the limits of good taste and try shoppers' patience?" It is common to think that the moment Halloween ends is the unofficial start of the holiday season, but that is not what the shopper is...

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It has taken a while, but small businesses are finally realizing the potential of mobile apps to gain more customers and increase sales.   According to a survey by B2B research company Clutch, nearly 50 percent of small 2017 businesses have a mobile. That’s impressive, considering only 20 percent of small businesses had a mobile app in 2016.   “Three years ago, a small business might see 10 percent...

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It was once said that, “Your ability to build the right relationships and to work with others ultimately defines your success.” Now, this is not always 100% of the time the case, but a lot of very smart people do not succeed for this very reason, and some very unassuming people are great entrepreneurs for this reason. If you have the entrepreneurial mindset, you're usually very...

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