Starting your own business can be both an exciting and scary endeavor. Not only will you need passion and perseverance to weather the ups and downs, but you’ll need to be prepared well in advance of putting up that Open Sign if you want to make it in the long run. If you are thinking about starting your own business here’s what you need to know to get started. Continue reading “Starting a business? Here’s what you need to know”
There’s really only one reason to buy commercial property – and that’s to make money. So, finding the right business to rent space from you is critical to your investment and your future. Before you hang that For Lease sign there are a few things to consider making sure you get the most bang for your buck! Continue reading “Finding the right tenant to lease your Commercial Property”
Today’s consumers are savvy and have access to a ton of information including all that information about your competitors! Being a salesperson in today’s global market place is very different than back in the days of Glen Gary Glen Ross – and the famed ABC of Sales (Always Be Closing). Today, business owners and their sales teams must be digitally and socially savvy and be far more aware of not only attracting new business but retaining the clients they already have. Continue reading “Is your Sales Team Struggling to Meet Their Goals?”
It’s a pivotal moment in an entrepreneur’s journey when they get the itch to expand their empire. Your business is fully off the ground! Pat yourself on the back for a job well done, then pump your breaks! Ask yourself a few questions before taking the plunge toward expansion. There are quite a few things that need to be carefully and objectively examined to make expansion successful.
Are you clear about why you’re expanding? Continue reading “5 Things to Ask Yourself Before Expanding Your Business”
Imagine working from anywhere in the world, any time you like, with just a laptop. Sounds wonderful, right? That’s life as an online business owner. Continue reading “10 Things to Know About Starting an Online Business”
Technology – it makes us faster, more efficient and at times can drive us crazy! When it comes to your team and work culture, technology has enabled us to grow remotely. We’re no longer tied to a particular location or a specific device. We can work from anywhere, at any time, in any way that lets us meet our job requirements. If you’re an employer, have you considered having a remote workforce? Continue reading “Moving Beyond Bricks and Mortar — How to Attract and Retain a Virtual Workforce”
For a family business, the transition from one generation to the next is perhaps the largest (and most overlooked) challenge it will ever face. The transition doesn’t just cause stress, controversy, and bruised relationships. Only 30% ever survive the second generation, regardless of industry, location, or the current economic landscape.
The transition from one generation to another is an issue of relationships and expectations of the family members and non-family numbers. The health and success of the business depend on careful transition planning and healthy communication. This means it’s wise to develop a Succession Plan as a fundamental part of your overall Business Plan. Continue reading “How to Transition a Family Business to the Next Generation”
The best piece of business advice you’ll ever get is this: “Cash flow is king.
Seasoned business owners understand the power of an abundant cash flow situation. All companies, regardless of profitability, will experience a slowdown in cash at some point.
82% of business failures are due to poor cash flow, so it’s a serious metric you should be monitoring. Companies that can forecast a cash crunch and have procedures in place to survive the storm will be in the 18%.
In our experience, here are the top reasons businesses struggle with cash flow beyond a dip in the economy: Continue reading “The 5 Biggest Mistakes Businesses Make When It Comes to Cash Flow”
Getting caught in a cash flow crunch is an all-too-common headache for even the most successful small business owners. It’s the reason why 29% of startups fail, the second most common cause behind “no market for the product,” according to research by CB Insights. Even profitable small businesses that don’t have a substantial cash cushion can meet this unfortunate fate.
There are multiple options for averting a cash crisis, but all are definitely not equal. For example, it’s tempting for owners to whip out a business credit card (or even a personal card) for a cash advance or to cover an unexpected expense. Viewed as a very short-term boost, the quick credit card solution comes with earnest plans to pay it off just as quick, in a month or two, max.