Thursday, August 15th, 2013 at
The obvious person who should read my book (you noticed I used should) is the youthful entrepreneur wanna-be who knows they have an idea bubbling in their youthful brain, can’t find a job in any field or maybe they are unemployable, but that usually happens later in life.
As I ponder, I realize my book wasn’t geared to a certain age bracket. I wrote it for those of us, at any age, who feel that they have something they want to do differently from the milieu, who want to be their own boss and determine their own future and yes, those who can’t find a ‘job’ in a chosen field.
As I went deeper I realized there are mainly two distinct age groups; the 25-39 age group (hey at 40 it all changes anyway) and the over 55 age group. Read the rest of this entry
Saturday, September 27th, 2014 at
Guest Blogger- Cecile Peterkin
When your business comes to a point where your profitability and sales are not anymore in line with your goals and projections, there are many steps that you may need to take to prevent this downward spiral. You may try streamlining work processes, getting your people to get involved in making business development plans, or implementing a company-wide cost cutting project. The problem is that none of these strategies can guarantee that your business will be salvaged. In this case, you may need to look at perhaps your largest expense – your employees.
Is Workforce Reduction Always Possible?
For sure, you’ve got employees who are under a contract with your company. These are the people whom you cannot easily lay off. What you can do, instead, is Read the rest of this entry
Saturday, September 20th, 2014 at
You have just begun a start-up; what scares the hell out of you when you wake up in the morning? This is an open post to those of you wanting to start-up a new business. I’ve often said that the three things new entrepreneurs need are a plan, i.e. business plan, resources to accomplish the task of opening a business and a way to bring in customers.
It occurred to me that there is a more basic underlying issue at play when a person contemplates opening their new start-up – Fear. Overcoming fear is the hardest thing to overcome and the place where all entrepreneurs go often. The fear of putting all their money in one basket – win or lose it all – for an unproven business idea. You fear losing face with Read the rest of this entry
Monday, September 15th, 2014 at
Passion – We all start our businesses with passion and excitement. After a while with the fledgling start-up growing we sometimes forget why we started the business because we get weighed down with ‘stuff’. Have fun!
Cash Flow – One of the biggest issues with entrepreneurs is how to deal with money – most manage money poorly. Be sensible, get a bookkeeper rather than doing it yourself and have a look at your books often so you will know how your business is doing at any moment. A hasty purchase can be deadly to a start-up. Read the rest of this entry
Wednesday, September 10th, 2014 at
Guest Blogger- Cecile Peterkin
You might think that choosing your startup business name is just one of the minor things you should do for your small business venture, but it can definitely end up being one of the biggest decisions you are going to make in the early stages of building your company. It is your business name that will help you determine what domain name you may have, what your trademark will be, and how you are going to be identified by people. Needless to say, your startup name can play an important role in how your business will be remembered by your clients or customers. Thus, it is vital that you spend time thinking of the most appropriate name for your startup business. Below are some things to remember:
1. Beware of words that sound alike. According to experts, it is not a good idea to choose a business name Read the rest of this entry
Monday, August 18th, 2014 at
So your once little startup is beginning to grow but it’s starting to show some cracks. It’s getting to the point where you need someone besides you to manage the books. It’s getting to the point where you need to find more people because you are bursting at the seams. What do you do to keep that once small operation exciting, your staff enthusiastic and your work environment fun?
1. Collaboration- Gather your team together and collaborate on the ‘next step’. Let them in on the big picture so as change begins they will embrace it rather than feel left out of the loop.
2. Hiring- I was in a warehouse the other day and was shocked and amazed to see the buzz. Read the rest of this entry
Thursday, August 7th, 2014 at
I’ve been working with start-ups for a long time. I often get asked about investors and how to put a financial plan together so an investor will pump needed capital into the business. Salaries is a huge issue.
A budget is not tough to put together covering ‘all’ your expenses but people fail to have a realistic ‘burn rate’ (that’s the amount of money they go through every month.) Most people put in their own money to start then take some of it out when they are earning revenues. The determination of salaries of the startup execs is a very tricky issue and is a major concern for the investor.
In my experience investors want financial control over expenditures, salaries need to be lean (meaning low) and quite often the investor will put a trusted employee in the role of Chief Financial Officer to watch funs especially if the investment is large. It all makes sense. Read the rest of this entry
Sunday, August 3rd, 2014 at
Guest Blogger- Cecile Peterkin
With the advent of the internet, it has become possible to almost anyone to start a business that sells services or products. The web also made business, culture and news accessible and available to everybody from all around the world. Globalization and the bigger market is definitely one thing that many entrepreneurs are seriously trying to take advantage of these days.
As a businessman, it is enticing to go global with your business, but is this always a good move? Let?s take a deeper look into this matter.
Culture and Language
One example of a cultural and language gaffe that many companies need to consider before expanding globally is offering discounted prices in Japan. In this country, discount pricing is only for inferior and low quality products. To avoid cultural or language conflicts, a good idea is for a business to find a reliable partner company or investors in the target country. By doing business according to local customs, you have an increased chance of accessing lucrative markets abroad. Read the rest of this entry