Category Archives: operating a business

Why are Entrepreneurs Better for the Economy than Bureaucrats?

Entrepreneurs, “My business will lose a trillion dollars this year if I don’t do something. I’m cutting back on everything right now!” Congressman, “We’ll have a trillion dollar budget deficit this year…we need committee meetings for the next 8 months.” I rest my case.

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Time to Look at Smart Growth for Your Small Business?

Business owners often get caught in the squeeze between seeing opportunity to grow but not having the resources to hire people or get more space. Managing a small business needs to be a creative process. If you find yourself in this position (and if not now you certainly will if you grow) spend a few minutes […]

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What Does Patricia Kluge Bankruptcy teach us about business ownership?

A messy business failure can always be learned from. The Patricia Kluge bankruptcy has lessons for small business owners with partners, both known partners and unknown partners. I once heard a wise man say, “Pick your business partners twice as carefully as you pick a spouse..because a spouse can only take half of what you […]

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Uncertain Times, Reason to Act or Reason to Wait?

I am often asked “when is the best time for someone start a business?”. As you might imagine, the answer is different for everyone and even then, the answer is never 100% evident. If you wait until the risks are minimal the time might may never come, if you leap when the risks are huge […]

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What is Working Capital and why is it Important?

Many small business owners don’t understand or appreciate the need to have a good handle on working capital and how it is generated or consumed by the business. Let’s take 2 examples on opposite ends of the business spectrum. First a Day Spa. At a day spa the customer comes in, pays for the services […]

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The hard work of un-fooling yourself………..

As I’ve written before, during the 1st quarter of the new year I find myself trying to take extra time to plan and evaluate. Some of this is an natural reaction to reviewing the financials in preparation for filling taxes. Some of it is just my reaction to something I’ve heard or read somewhere. During […]

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Starting a Small Business – What’s the most important question to ask?

Starting a business is more complicated than most people think. There are many issues to deal with and questions to ask when thinking about starting a small business. Starting a business the right way can inprove your changes for success. Should I incorporate? LLC? C Corp? S Corp? What name should I use? How do […]

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What is CRM and does my small business need it?

Hard as it is to imagine, there was a time not terribly long ago when a sales or service person for a small business would go out into the field without a PDA or Smart Phone—or any phone at all. The reason for the current ubiquity of the communication devices in small business is obvious: […]

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Want to Know How a Business Appraiser Looks at Small Business Value?

Factors that Increase or Decrease Business Value By: George D. Abraham CEO & Chief Appraiser Business Evaluation Systems There’s a range of key factors that can affect the value of a business.  While some of these factors are outside of the owner’s control, steps can be taken to make the business as valuable as possible. Start planning […]

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It’s a new year, winter is raging and opportunities await….

This time of year I like to take several days away from my day-to-day business, hide out somewhere cold but with a good fireplace and sort through the current opportunities and challenges of my business. I make it a point to seriously limit email and phones so I can think more clearly without the usual […]

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