Whether you complete your business objectives in a year or 20 years from now, or you just feel like you need a change of scenery, leaving a company you built with your own two hands is never easy. You’ve got to consider your employees’ futures and commitments to financial partners – not to mention your own business legacy. Needless to say, you’ll also want to make sure you exit with… Read more
It can be a challenge for new business owners to find a bank that will approve them for even a small business loan. Most will see a young company as too high a risk to qualify for corporate lending. A credit card can serve as a short term solution for small scale financing, offering entrepreneurs a “foot in the door” with a lender. Think of it as a chance to… Read more
At some point in its lifetime, every small business suffers from cash flow problems. The trick is to think ahead and figure out when these problems are going to arise so you don’t have to unexpectedly postpone a purchase or hurriedly seek out additional finance. This is where cash flow forecasts come in. Download our FREE Cashflow Kit including Cashflow Forecast Calculator today! Name* Name Email* CAPTCHAEmailThis field is for… Read more
Being open to new possibilities is a positive trait shared by most entrepreneurs—but saying yes to all the people you meet and opportunities that come your way can get you into trouble. When we overcommit—especially when we take on projects that don’t actually benefit our business—our stress can hit the roof. It’s much hard to be productive when we’re feeling burned out and resentful. One of the most impactful changes… Read more
Looking for a cost-effective means to create another income stream? Consider this: ambitious companies are always on the lookout for the next lucrative business idea. Licensing your intellectual property to another company can be a win-win when both parties see eye to see, and result in a worthwhile pay out for all concerned. Wondering how to get started licensing your bright business ideas? Read on. Intellectual property 101 If you’re… Read more
So many business employees are now telecommuting, that companies around the world are restructuring their management practices to meet the challenges of remote collaboration. Because they tend to be more agile and open to change, small businesses are particularly well positioned to adapt to telecommuting. Increased productivity and happier employees who appreciate the added flexibility are just a few benefits winning over small business owners. But telecommuting also presents some… Read more
Businesses of all sizes are under constant threat from cybercriminals and malicious software, with even some of the world’s largest and apparently impenetrable organizations making headlines in recent years after falling victims to cyberattacks. Although the risk is generally lower for smaller companies, since they don’t tend to be primary targets for hackers, it is still essential to take every precaution to make sure that you, your employees and your… Read more
If you have been lucky enough to encounter generous people, you understand that they have a truly unique gift for garnering the respect and admiration of individuals around them. When you are a leader, having a positive relationship with the people who follow you is a huge asset that you simply cannot put a price on. If you are looking for ways to become a better leader, increasing your generosity… Read more
There are all kinds of groups dedicated to networking. Some are highly structured with performance requirements, exclusive membership, and the payment of dues. Others are free form, come as you please and no charge. Not every group is right for every kind of business. You will find that some groups may simply not have connections in the market you are seeking to attract. You will find some groups have rules… Read more
Many elements are vital to a growing company’s success. A financially-astute leader is one. A confident and motivated sales team well-versed in a company’s product and service line is another. But starting and growing a business requires more than employees with extensive functional skills and appropriate personal characteristics. Growing a business requires collaboration – namely, the deployment of employees in a way that allows them to work together to problem-solve and act… Read more
Easily the most important first step in establishing any type of business is to define your customers so that you have the information you need to attract the right audience and generate valuable traffic to your website. Understanding your customers and what makes them tick is the key to any successful business, particularly if you are paying out large amounts of money to drive relevant traffic. One of the most… Read more
Making a few good local business connections can go a long way helping your business grow. Networking can spark mutually beneficial partnerships, lead to new opportunities, and attract more customers through word of mouth. In the age of social media, small business owners may think networking isn’t as valuable as it used to be. On the contrary, it’s just as important for people to get to know your face out… Read more
Taking out a business loan may be your first plan of action for financing business growth. But there are excellent reasons to consider other options for finding capital to expand your business. For one, it can be very difficult for a small business to secure financing, especially in the early days. You’ll need to prove to a lender that you aren’t a high risk, with financial documentation that shows your… Read more
The ability to network is a fundamental part of running a business. Running a business in isolation is difficult, so it helps to have expert partners and acquaintances available to share ideas with. For an online entrepreneur, the best niche experts might be located all over the world. But regardless of location, there are still a number of effective ways to build relationships that are mutually beneficial for both partners.… Read more
Change in business is almost always a good thing, but often poor management means that the workforce becomes disengaged and the change process painful. In the worst cases, this results in irreparable damage being done. It doesn’t need to be this way. Follow these nine steps and empower yourself to successfully lead your people through major organizational change. Understand the change Make sure you understand exactly what is changing and how… Read more
Maintaining positive cash flow can be challenging for small businesses, whether you’re just starting out or have been running your company for years. The difficulty often comes down to waiting for clients to pay their invoices. One or two chronic late payers cost valuable time and money when you have to chase them down; if reliable clients also fall behind one month, the result can be devastating. These tips will… Read more
Many remarkable entrepreneurs, including Warren Buffet, Sheryl Sandberg, and Richard Branson, have credited their success, in part, to the advice of their mentors. An advisory board is an informal group of mentors whose collective business expertise—and objectivity—can help you make better, more informed decisions, thereby accelerating growth. Unlike business consultants (whose fees may well exceed your budget), advisory board members may agree to provide advice pro bono, for a small… Read more
Our brand new site is now live! Welcome to our new website! We’re really excited to launch this site and we hope you like the fresh look. After a few months of planning and editing, we are really proud to reveal the results. The site features a crisp, new look, striking images and a stunning colour palette…so it’s safe to say we’ve improved the design all round. This site has… Read more
According to recent research, a staggering two thirds of US millionaire-owned businesses are operating without a succession plan—and even fewer small business owners around the globe are prepared for their CEO’s eventual exit. Recent stats from PWC Global show that family owned businesses are no more prepared: 43% don’t have a succession plan in place, and only 12% survive to the third generation. No matter whether your company has one… Read more
Every business can benefit from dedicated financial management expertise, but very few small businesses have the means to hire someone full time—particularly in the lean early years. Unfortunately, it’s those first few years when a company is just starting up that establishing good habits with managing financial resources is so important, and, over time can even make or break a business. Hiring a virtual CFO is an affordable option for… Read more