Excerpted from Entrepreneurship: A Real-World Approach, 2nd Ed, now available Challenge: To improve cash flow, reducing the unpredictability of sales for a nonessential purchase Solution: Find ways that encourage customers to prepay for goods long before they purchase them, and invest those funds safely There’s a pretty good chance the last time you ordered a Starbucks …
7 Signs Your Small Business Is About to Die
Every small business owner has good days and bad days, good months and bad months. But how do you know when you’re not just experiencing a temporary downswing but are in serious trouble? Here are seven key danger signs that your business is about to fail and steps you can take to keep your business …
It’s the Holidays: Do You Know Where Your Cash Is?
If you run a small business, the holidays seem like they’re already here. Yes, I know, it’s not even Halloween, but studies show that about 40% of shoppers begin their holiday shopping before jack-o-lanterns are even lit. For small businesses, the greatest holiday challenge may not be getting shoppers in their door, or finding enough …
Spring Clean Your Fixed Expenses
Costs can creep up through the years, so it’s worthwhile to canvass, compare, call. It’s nearly spring, time for the annual ritual of spring cleaning your small business fixed expenses. Give me half a day, and I’ll put more money in your bank account. While you’re running a business, you have fixed expenses that you …
