In discussing profitability we are effectively discussing the efficiency of a business to make money. In other words, how can we squeeze a little more money out of the existing establishment? This topic is well worth discussing as most people find themselves in need of small business financial help. There are many effective ways in […]
7 Proven Ways to Increase Your Business Profits Read More »
I recently had an interesting conversation with a business owner on the topic of how to manage a business successfully. We concluded that all businesses are working towards further growth and that a primary management concern is growth strategy. So, to manage a business successfully, one must manage growth successfully. How is this accomplished, and
How to Manage a Business Successfully Through Every Growth Stage Read More »
For those of you who don’t know, Abraham Maslow published a paper in 1943 titled “A Theory of Human Motivation.” In this work he established a hierarchy of needs that he argued was fundamental to all humans. The structure of his hierarchy is often portrayed as a pyramid with the more basic needs making up
How to Apply Maslow’s Hierarchy of Needs to Your Small Business Read More »
So you run a small business, you don’t have much money behind you, and you decide the web is a great place to increase your marketing efforts. A website is relatively inexpensive to build especially if you can carry some of the technical burden, and it provides a means by which you can reach the
Where Should Small Businesses Start with Search Engine Optimization? Read More »
The formula for success is a question that has long plagued entrepreneurs, but a helpful tool now exists that will assist in identifying the primary metrics of any business. The business model generation template comes from the minds of 470 contributors and was compiled in the book Business Model Generation: A Handbook for Visionaries, Game
The Complete Business Model Canvas Template for Entrepreneurs Read More »
Time is the only one true fixed resource. Having a finite amount of time to complete any task makes time management an integral part of an organization. Entrepreneurs often have difficulty balancing their planning and organizing while simultaneously entertaining potential customers. What most don’t realize is that the time they have is very limited, and
The Critical Importance of Time Management for Entrepreneurs Read More »
Most side income advice starts with a skill you don’t have or a platform you don’t understand. Location arbitrage starts with something simpler: the same item priced differently in two places. You buy where it’s cheap. You sell where it’s not. The gap is your margin. No special skills. No inventory risk if you play
Location Arbitrage: How to Build a Side Income Buying and Reselling Locally Read More »
Limited Liability Companies (LLC) are business entities that got their start in 1977 and are considered to fit somewhere between sole proprietorships/partnerships and fully incorporated companies. Existing to fill the gap between corporations and sole proprietors, LLCs can help to segment personal and business assets and liabilities while at the same time maintaining a simplified
How to Set Up an LLC Without a Lawyer: Complete DIY Guide Read More »
One of the hurdles you will undoubtedly run into when starting up a small business is choosing your company name. The quick and easy advice is to find something catchy, relevant, memorable, short, and unique, but I don’t want to leave it at that. What you call your company is very important and there are
How to Choose the Perfect Business Name: What Entrepreneurs Need to Know Read More »
If you run a shop floor, a service operation, or any process with more than two steps, you have a constraint. One step limits everything else. Drum Buffer Rope is the Theory of Constraints answer to that reality: a scheduling method that stops you from optimizing the wrong things and focuses the entire system on
Understanding Drum Buffer Rope (DBR) in Theory of Constraints Read More »
