08 Feb

The Problem With Small Business

There are 8.1 Million Small Businesses in America today.  They employ over half of all private-sector workers and almost 40% of those in High Tech jobs (approximately 130 million workers).  They provide between 60% and 80% of all net new jobs annually.  They produce more than half of all non-farm private gross domestic profit in the US (roughly $6 Trillion).    Small Business is important.

Unfortunately, within five years of opening, according to the SBA, almost 90% of all these businesses fail. These business owners are usually very good at what they do, manufacturing something, providing a service, etc.  What many of them lack is the know-how to manage all aspects of the day to day operations of that business.  The high failure rate is due to the very real fact that they do not have the training, education, knowledge, or experience to do it all.  To be successful, they must do it all and do it well.  How do we accomplish that?

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19 May

The Inevitable Business Exit; it WILL Happen. Plan For It.

 

All businesses experience a change in leadership or ownership.  All small business realizes this reality at least once.  Whether your transfer or sell your business you will inevitably exit it.  To exit your business in a way that is most favorable to you will involve more than you and you need a Business Exit Plan to make that change successful.   It will take multiple parties, different providers, to give you and your business the best outcome from your inevitable exit.  So what should you do and who should you involve?  Further, when is the best time to start the exit process?  When should you have an Exit Plan?

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17 Mar

Why Won’t You Work With Me?

A Leader, a Manager, a Consultant or Business Advisor have all heard that phrase before.  Usually from a frustrated person whom you have either refused to work with or who are experiencing frustration over your working relationship.  While in this article I will focus on the former, the lessons learned here can be beneficial in the latter.  So why are decisions made to not work with someone?  Why would they ask out loud or silently, “Why Won’t You Work With Me?”

 

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09 Dec

Business Tips – Bad For Your Business

 

While managing your business perhaps you have good advice from a knowledgeable business professional.  Perhaps you manage your business without any advice, or, perhaps you manage your business because you picked up on what you thought were great business tips from any one of a variety of sources.  How is that working for you?

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12 Aug

Need a Business Loan?

All businesses, whether they are just starting or they have been operating for some time, will ask themselves, “Do I need a Business Loan.”  For those trying to get their first business loan, the process can seem daunting, or, they think it’s as easy as going to your local Bank or Credit Union and applying for one.

Getting a loan is not an easy process.  Bank loans require a great deal of paperwork.  This can include:

  • Business Plan
  • Business Financial Statements
  • Projections for your cash flow for the next 12-months, or more
  • Some type of Guarantee from you and any other owners of the business

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