Talk to any small business owner about the problems they are having with their employees and one of the main complaints you will hear is, "They won't do what I tell them to do. Most owners think the … [Read more...] about Why Your Employees Won’t Listen to You
There are a lot of statistics out there about how often small businesses fail, and they do not always agree with each other. Depending on who is doing the computing the numbers range from 33% to 75% … [Read more...] about 3 Ways to Achieve Success in Your Small Business
It has been said many times - A business partnership is a lot like a marriage. They both start out with each person believing he has the same expectations and dreams as the other person. And they both … [Read more...] about What to Do If Your Business Partnership Is Not Working
For most businesses, the costs associated with having employees are significant; in some cases, employee cost is the single biggest cost area for the company. It should be no big surprise, therefore, … [Read more...] about Employee Productivity Measurement – The Why and How
Like millions of other Americans having your own business has always been a dream of yours. But, unlike most of them, you went out and did it. You put time, money and effort into making your company a … [Read more...] about Why Employees Steal – Because They Can
Business owners are often confused about the difference between a Business Model and a Business Plan. Although they are related, there are also distinct differences, and both deserve serious … [Read more...] about Business Model vs. Business Plan
Many small business owners start their companies with the vague idea that someday they want to be an absentee owner. Years pass, they work hard and become successful. Eventually, they are ready to … [Read more...] about Want to Be an Absentee Owner?
We've all heard them, and it's true - the statistics for small business failure rates are discouraging. Depending on who's doing the counting the range is between 75% - 90%. But, it doesn't have to be … [Read more...] about Use Your Financials to Stabilize Your Business
In order for small businesses to succeed, they have to have solid employees to build upon their foundation. But, sometimes finding great employees can be difficult. These guidelines should ensure your … [Read more...] about Rethinking the Hiring Process
Good parents know that part of their "job" is to teach their children how to navigate life's risks and handle its responsibilities. One of the fundamental lessons is how to safely cross the road - … [Read more...] about Stop, Look, and Listen
Small business owners using their companies as personal banks is a common practice that has lead to thousands (at the very least) of them closing. Some owners didn't understand the damage they were … [Read more...] about Ruin Your Business – Use It as Your Personal Bank
You've probably heard the old business saying, "Innovate or die". It's been around for a long time. But, the idea it represents has been around a lot longer. The concept is as old as business and … [Read more...] about Imagination + Innovation = Survival
Many small business owners think their employees won't steal from them. They may believe that "if I'm a good guy my people won't steal". Or they might believe "if I'm a hard case nobody would dare … [Read more...] about How to Stop Employee Theft in Your Small Business
If a business owner thinks that they are paying too much in taxes, they probably are. When it comes to taxes, some companies pay little to none and other pay huge amounts. For example, companies like … [Read more...] about Is Your Business Paying Too Much in Taxes?
Incentives are an excellent way to foster loyalty and to get the extra effort sometimes required for a company to continue to grow and succeed. It is important to keep in mind that incentives can also … [Read more...] about Incentive Plans for Small Businesses
Business plans - every small business owner should have one. Most don't, but at least they know they ought to. As for an exit plan, most don't know that they're supposed to have one. The closest they … [Read more...] about It’s Never too Early to Have an Exit Strategy
It used to be that people thought there was only one way to be a successful business owner. You had to be "smart" - the kind of smart that's measured on an IQ (intelligence quotient) test. It was … [Read more...] about Be Successful – Know What Kind of Smart You Are
The difference between management and leadership has been argued, debated and written about by many people. The issue seems to come down to recognizing that both skills are necessary to effectively … [Read more...] about Management or Leadership?
Passive-aggressive is one of those "psychology words" people use a lot, but don't really understand, and that's unfortunate. It's unfortunate because most workplaces have one or more employees and … [Read more...] about What’s a Passive-Aggressive Employee (and Why You Should Care)?
Factoring is a transaction in which a business sells its accounts receivables, or invoices, to a third party commercial financial company, also known as a factor. Factoring is sometimes called … [Read more...] about Factoring Receivables is a Death Spiral
Proper management of Internal Customer relations is critical. A Customer is dependent on the timely, efficient and accurate generation and communication of data stemming from another party, who can be … [Read more...] about The Internal Customer: Proper Management of the Internal Customer Relationship
Companies are founded in order to provide a needed product or service. To grow and be successful, a company must provide its products and services at a consistent price and quality level. Successful … [Read more...] about Understanding and building an SOP
We have all heard the comment that "When you're up to your chin in alligators, it's hard to remember why you drained the swamp!" Why has that saying been so enduring? Could it be that we can all … [Read more...] about How to Finally Drain the Swamp
A business that runs smoothly is one that addresses key elements regarding its overall health. Similar to the human body, your business requires regular checkups to determine the underlying issues and … [Read more...] about Business Checkup from the Neck Up
If we think of accounting as a "place for everything and everything in its place", then the Chart of Accounts (COA) is the place in "place for everything." From a managerial accounting perspective, … [Read more...] about What is the Chart of Accounts?
Often, when I'm meeting with a business owner, they complain about how hard it is to get their employees to actually work. I recognized long ago that most business owners simply haven't been taught … [Read more...] about The 5 Primary Motivation Factors
What is a KPI? A KPI (Key Performance Indicator) is a statistical measure of how well a business is progressing towards specific goals and objectives. A KPI could, for example, measure a company's … [Read more...] about Understanding KPIs For Measuring Performance
Performance Management: Performance management is the creation and effective implementation of a working environment within which employees are empowered and subsequently enabled to perform to the … [Read more...] about Understanding the Value-added Performance and Feedback System
Being the victim of embezzlement is one of the most heart-wrenching events that a business owner can endure. Usually it involves a being betrayed by a highly valued and trusted employee. Not only is … [Read more...] about Don’t be the Victim of Embezzlement
As business owners, we sometimes feel that we have a pretty clear vision of where we want to take our respective businesses. Unfortunately, for the most part, it is usually all in our heads. We … [Read more...] about From Behind the Desk: Where Is Your Business Roadmap?
Change Management: As businesses and organizations work to be front runners in their respective industries and remain ahead of their competitors, there is an inevitable need for change; Change in … [Read more...] about Proper Management of Change
The lineage of the small to mid-sized business owner certainly includes a lot of differences, socioeconomic backgrounds and personality profiles to be sure. There is however far more that we have in … [Read more...] about From Behind the Desk: Origin of the Business Owner
In business today, we as business owners are tasked with the responsibility of making good business decisions. Some business owners get caught in the "trap" between actually "making a decision" and … [Read more...] about From Behind the Desk: Making Decisions
Employees will generally be identified in one of these two categories. Think for a minute about all of your conversations and interactions with your employees today. When they came into your office, … [Read more...] about From Behind the Desk: Problem or Solution Bringers
Successfully running a business is all about leveraging wins and learning from losses. So, the key to success is to learn proactively and avoid losses. Losses often come from mistakes, and an owner … [Read more...] about Common Mistakes Business Owners Make and How to Learn From Them
Small business owners need a healthy dose of stubbornness. They need it to start the business - in spite of the family, friends, former bosses and statistics that say it won't be a success. They need … [Read more...] about The Good, the Bad, the Ugly of Entrepreneurial Stubbornness