It is imperative that business owners take risks. That is how owners reach their goals, grow companies and make money. But, not all risks are good risks. They are more likely to succeed if planned and … [Read more...] about Make Risk Less Risky
The SBA defines a small business as one that employs 500 persons or less and according to the Bureau of Labor Statistics; small businesses are representative of 99.7 percent of all employing firms and … [Read more...] about The Importance of Your Business in Your Community
Do you have a business to sell in the next few years? If so, then you are joining the ranks of a significant number of owners who also wish to sell. Baby boomer business owners (born from 1946 to … [Read more...] about Positioning Your Business to Sell
Traditional small business owners often tend to give millennials far less credit than they deserve. Although old school thought leaders have a lot to bring to the table, to increase profit, it's time … [Read more...] about Millennials — What are They Doing Right?
"I just need to sell more, and I'll get out of this hole." "I just need to sell more, and I can retire in five years." "I just need to sell more, and I'll be able to grow." "I just need to sell … [Read more...] about Sales Don’t Always Equal Profit
Human nature is inescapable, and we all experience its challenges from time to time. We do not mind doing a task that has to be done when it is easy, when we are interested in it, or when it does not … [Read more...] about 3 Ways to Maintain Long-Term Business Success
Talk to any business owner about their business, and it won't be long before the conversation turns to the problem of finding talent and keeping it. It's a key issue in the marketplace. Those who do … [Read more...] about How Much “Hidden Talent” is in your Company? Almost None
Although many small businesses have already either filed their tax returns or have filed their Form 4868 for the purpose of requesting an extension, there are many small businesses and individuals who … [Read more...] about The IRS is Granting Help For Small Business
Service-based businesses often find that they simply don't make enough profit no matter how many clients they have or how amazing their staff members are. Let's take small architecture firms as an … [Read more...] about Ideas to Help Grow Your Small Architecture Firm
A major part of the American Dream is building and owning a successful business. Every year millions of dollars, hours of sweat equity and unlimited hope are poured into starting and running them. … [Read more...] about Don’t Let Employee Theft Decide Your Success or Failure
With absolute certainty, when it comes to running your small business, you know best. However, every small business owner is eventually faced with issues whereas connections to other like-minded … [Read more...] about Small Business Associations, a Comprehensive List
According to the Bureau of Justice Statistics, more than 17 million individual American citizens are affected by identity theft. Since the larger data breaches have occurred over the past year, the … [Read more...] about Identity Theft: How Vulnerable Is Your Business?
Education and preparation will become critical to continued growth in the U.S. manufacturing industry during the remainder of 2018 and beyond. In order to produce continued growth, there will be a … [Read more...] about Education for Community Youth, A Growth Strategy
As we previously discussed the various types of owners involved in a business, we concluded that eventually most would lose interest or lack the skills to run their company. Whether, it is the … [Read more...] about Why Hire a Management Consultant?
Is there anything that gets a bigger yawn than talking about procedural systems? Maybe not, and it is too bad because a lot of business owners have the wrong idea about them. These are some of the … [Read more...] about Procedural Systems: Get the freedom You’ve Always Wanted
No, seriously - paperwork can make your life easier if it is the right kind. If it is the wrong kind it can make your life much more difficult (living hell comes to mind). Did you know there is a … [Read more...] about Paperwork Can Make Your Life Easier – Really!
Alright, so perhaps we're pushing it a bit by looking at how we can help small businesses prepare now for 2020. However, we're of the opinion that with the speed in which technology and business … [Read more...] about SMBs: Begin Tech Prep Now for 2020 Competitive Edge
Businesses of all sizes, for decades, have been seeking answers as to how they would have the ability to improve negative business functions vastly before disaster strikes. With this knowledge, … [Read more...] about Predictive Analytics 101
Small business owners often fail to consider themselves large enough to set specific plans of action regarding the growth of their businesses. You, as a small business owner are larger than life in … [Read more...] about Consider a SMART Goal to Grow Your Business
Congratulations on your accomplishment. You have built a successful business through hard work, dedication, and sacrifice. You have invested time, money and sweat, and it has finally paid off. It is … [Read more...] about Your Business is Successful – CIRCLE THE WAGONS!
Most every small business owner desires dedicated, hardworking and loyal employees. The problem is how to do you cultivate and reinforce those values? We pay people what we believe to be a fair and … [Read more...] about Rewards: Unnecessary Pay, or Positive Reinforcement?
Business colleges may take a semester or two to cover this topic. There are in-depth charts and analyses to sharpen one's skills. However, for those of us that no longer have the time to devote to a … [Read more...] about Effective Management
Small businesses have or should have financial statements that provide a health measurement of the business and whether they are profitable or not. Your business financial can include data on business … [Read more...] about Small Business Accountability
Why does one go into business? Consider these four classifications of Owners; the inventor, the salesman, the entrepreneur and next generation. Where does your client fall? There is almost no one who … [Read more...] about OWNERSHIP
Small business owners often struggle with how they can attract top talent for positions within their company that will best grow their business. Every business started small and will have at some … [Read more...] about The Secret to Business Success
PRELIMINARY CONSIDERATIONS One of the first considerations is the determination of the sales revenue required by the company to meet its payroll, expenses and desired profit. Are we expecting sales … [Read more...] about Fundamental Sales Planning
There is no doubt - 3D printers have a wow factor. Whether they are creating a plastic knee joint, one-of-a-kind metal turbine blades or a chocolate pyramid, they are a marvel. But, are they … [Read more...] about Time to Start Taking 3-D Printing Seriously
Many small business owners, whether they are just opening their doors or they've been in business for awhile, often find themselves lost in the digital noise, face in their hands, repeated sighs, … [Read more...] about Experiential Marketing – Don’t Just Explore It, DO IT!
Most business owners start their companies so they can be their own boss - they want to get away from others telling them what to do. However, they forget, ignore or do not understand there is another … [Read more...] about Tired of Babysitting? Try Organizational Engineering
We cannot possibly stress the importance of investing time each month to calculate your small business taxes and making proper payments required by the IRS. Many small business owners are simply … [Read more...] about A Brief Update For Tax Deadlines for 2018
On numerous occasions, I have asked plumbing, coating and finishing, HVAC, or glass company owners and executives, "What is it you sell?" I get a variety of answers like excellent service, best … [Read more...] about 7 Calculations for Profiting in the Service Industry
Attempting to read the housing market, so far this year has become challenging at best. In 2017 nearly everything driving the housing market teetered on what would remain after the natural disasters … [Read more...] about Contractors Should Evaluate Their Sales Force Often
Many businesses have a profit drain in the guise of inventory sitting on their walls, whether it be for resale, for assembly or for use in performing company services. Dependent on the size of your … [Read more...] about Inventory: Potential Profit Drain
I've done some recruiting during my career, and the first thing I ask an applicant is, "Which company did you work for before, and why did you leave?" Money only rises to the number 4 or 5 reason for … [Read more...] about Adding Spice to Your Organization
Many small businesses do not seem to understand the importance of taking small steps all year long as one of the most vital keys to minimizing tax responsibilities and avoiding expensive tax … [Read more...] about Small Business Tax Eligibilities Increase Profitability
Before 2008 when the economy had fallen into a deep recession, many business owners and HR professionals opined that employees were fortunate to have been hired and ought to be grateful merely to have … [Read more...] about Your Best Investment in Business
It is an excellent time to be in the transportation industry. E-commerce has been good for it and will continue to fuel its growth. Growth creates challenges and trucking companies - who want to be … [Read more...] about 3 Challenges in Transportation
A trend is a pattern in the company's performance over time. While trend analyses are often used to determine and evaluate financial performance, they may also be utilized to highlight statistical … [Read more...] about Trend Analysis: Better Understand Your Business
What is a SWOT Analysis? SWOT is an acronym for Strengths, Weaknesses, Opportunities, and Threats. The analysis utilizes these headings in a quadrant format (Fig. 1) to list core competencies and … [Read more...] about SWOT Analysis: Better Understand Your Business
Ask a business owner what he needs to make his company successful, and most likely he will say "sales." Then, using the questions below, ask him about his customers, and most likely he will give … [Read more...] about Get to Really Know Your Customer (And Make More Sales)
One of the last things that most small business owners consider is doing a Budget. A large number of owners do not understand the value obtained from a having a budget. Often, when budgets are in … [Read more...] about Budgeting: Under-appreciated and Under-utilized
Every day employers complain that while they truly need, if not require, reliable, trustworthy, ethical employees, these qualities just aren't that simple to acquire in many of their prospective … [Read more...] about Applicants 50+ Are The Source of Thought Leadership
If you own a small or midsize business, whether online or bricks and mortar it's quite likely that you're aware of the difficulties directly related to the insane balancing act between running the … [Read more...] about Consider These Big Advertising Changes in 2018
Do you want it to seem like you have more hours in the day? Do you want to work smarter, not harder or longer? Do you want to reach those goals which have been on the back-burner year after year? Here … [Read more...] about Want to be a More Productive Business Owner?
As with any business, it's the duty of a business owner or assigned business manager to competently and adequately guide their company through to the initially intended achievements of the company … [Read more...] about 2 Forms of Analysis to Increase Company Health
In this blog, we discuss basic checklists and the importance of implementation in business operations. If you've ever been on a plane, you may have noticed the pilots completing their 'Pre-flight … [Read more...] about One Simple Tool to Save You Time and Money!
Lifecycle Marketing - Is rapidly becoming regarded highly as one of the most effective avenues to acquiring and retaining clients/customers and incrementally increasing small business profitability. … [Read more...] about Lifecycle Marketing Is Rapidly Taking Center Stage
Suppose that your analysis of your client indicates that the proper Labor Burdened Rate is not being used and the Overhead Recovery Rate is too low. Normally, this would require an increase in your … [Read more...] about Price Resistance
"Problem Solving" is a loaded phrase: Be careful with this one, my friends. Before jumping in the deep end, I want to share something about myself that I have found to be effective. I keep a list of … [Read more...] about Problem Solving vs Facing Challenges
A lot of business owners know about the benefits of strategic planning, especially when they see their competition using it and growing. But, many do not know if it will help their company. One … [Read more...] about Strategic Planning – How Important is it?