Tag Archives: Small business owners
Economic Update – Quick and Informal
I am fortunate that my position as a business advisor allows me to observe how business is going across a number of industries. Many recent events are quite encouraging! Continue reading
Improving the Family Dynamic in a Family Owned Business
Family and business can be like oil and water. The two dynamics are often complete opposites. Here are some tips to help deal with the challenges that are unique to family businesses.
Family decisions can be completely emotional – Business decisions can be unemotional.
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Improving Employee Communications in a Small Business
As a business advisor, I have noted time and again that effective employee communications in a small business can increase efficiency and create value within the employee-employer relationship. Continue reading
Just Get on the Bike! Start a Small Business
Aspiring small business owners have a lot of fears about what could go wrong. So I share the “learning to ride a bike” analogy. I suggest it’s like they have a bike sitting in the driveway and they want to learn how to ride it. They have walked around it 20 times. But they are afraid to get on the bike! Continue reading
Why You Need a Small Business Mission Statement
The purpose of a mission statement is to clarify and communicate what your business stands for. It states what you believe , and why. It should not be confused with a vision statement. A vision statement defines the future goals … Continue reading
3 Ways to Make Time for Small Business Planning
If you feel paralyzed by the daily demands of running a small business, consider the following three ideas to make time for business strategic planning. Continue reading
Cash is King! 5 Tips to Manage Your Business Cash Flow
Making a small business profit is not the same thing as having cash on hand – or your business cash flow. My advice for small business owners: Cash is king! Cash is what enables a business to pay its owner’s … Continue reading
Convergence of Products and Services is Good Advice for Small Business
In the old days, your business was either a “product” based business or a “service” based business. The traditional furniture store sells a product: furniture. The traditional law firm sells a service: the lawyer’s time. To be a successful furniture … Continue reading
Creativity Doesn’t Always Happen at Work!
Creative stimulus occurs in the strangest places. A few years ago, I was visiting the Grand Canyon with my mother. In our conversation, we discussed the nursery school she runs back in my home town. We both came to an … Continue reading
Burn the ships! Take courage in advancing your business strategic plan
Legend has it that when a military leader landed on enemy shores with a smaller army than the opponent, he ordered his men to” burn the ships”. He did this to obtain a commitment from the soldiers to execute the … Continue reading