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No one secret formula will make you a successful small business owner. Each business is unique and offers different products and services. Small business success depends on its business strategy. Business owners create and implement these strategies to reach their business goals. A business owner must possess certain traits of personality and character. Entrepreneurs with […]
Research in business and education shows that mentors make it more likely for employees and students to succeed. Fortune 500 CEOs were asked about the factors that contributed to their success. A mentor’s effectiveness was cited by many as one of the most important factors. Entrepreneurs and business owners are now following the example of […]
Although having a credit card for your business can be very beneficial, getting a business card without a credit history can sometimes prove difficult. Most small-business owners know the importance of keeping family and personal finances separate. It is important to keep purchases for the business and those for your family and yourself. It is […]
It’s exciting to start a business. How can people know what company will work for them with all the information today? Every business owner should understand that a plan is essential for success. Many new business owners need guidance, clarification, and support in creating a plan. Business owners should treat their goals like a prescription. […]
People may find the idea of starting a small business intimidating or exciting. The high failure rate of small businesses is countering the lure of being your boss and creating a profitable business. Many studies provide statistics and causes of small business failures. A quick search on the internet will reveal plenty. Although the exact […]
You have decided to either buy a business or sell your business. Although biased, the best advice I can give is to retain the services of a business broker/business transfer advisor. Business brokers work for the seller, but there are also sell-side and buy-side brokers. Even if you are a buyer and need to retain […]
Knowing who will buy your business means you already have the core perception required for strategic business planning. You know that you will inevitably transfer your business interests, whether you choose to do so voluntarily or not. Owner-managers of businesses need to be aware of and plan for the inevitable transfer. The owner and company […]
Small entrepreneurs have an indispensable tool: the mobile phone. It is useful for following up with customers and suppliers and communicating with employees. This type of communication has one problem: the high-cost small business owners must pay. Many small business owners find that their monthly phone bill is a significant portion of their overhead and […]
When insuring a vehicle your company owns, there are many things to be aware of. These questions and their answers will help you decide what insurance you need to protect your business, employees, and yourself. You don’t want the cheapest insurance. Every time a business vehicle moves, your business is at risk. As a business […]
The journey to start your own business is only for some. But the rewards you’ll find are life-changing. Here’s what you’ll learn: 1. Franchising can be a great option for a business. 2. It is very rewarding to own your business. 3. Coaching is essential to make your business a success. First Entrepreneur Our first […]
