29 Nov

Cash is Always King

Startups and business in general have many challenges. The biggest ones always involve money. Do they have enough to operate, can they make enough to stay in business and too many people wanting their money.

Having enough money to operate, in simple terms cash flow, is critical. If you don’t have enough cash then life support may not be able to keep you in business. Ensuring you don’t waste it on things you don’t need is a big challenge for small business startups. What are some of those wastes?

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15 Nov

If It Doesn’t Fit – Outsource It

Small Businesses can be great examples of efficiency.  Lean operations focused on providing a product or service without masses of unnecessary staff or expenses.  Those same small businesses can be extreme examples of inefficiency as ill-advised owners expand their employee population with unnecessary and on many occasions wasteful staff. 

A small business has several things that it must focus on.  There are 8 to be exact; 

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01 Nov

Your Small Business – Big Future

The cold harsh reality of being a private small business owner is that one day you will no longer be the owner of a business.  This builds on your earlier dreams and aspirations.  Your business is the most valuable asset you ever had; even more valuable than your home.  It represents years of hard work and sacrifice. 

At some point, you will make the difficult decision to sell your business.  Whether that is a family member or someone from outside the family, the value of your business at that time will have a significant impact on your financial and lifestyle comfort going forward.  What you do now will strongly impact that inevitable day. 

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