Investors love it when entrepreneurs draw little or no money from their startups. It extends the cash available for research and other necessary fixed costs and gives the fragile, young company more “runway” to get to breakeven. What are you worth to the business? But when forecasting the ultimate viability of a business, many times […]
Business Plan
The 5 Departments Your Small Business Needs
It’s easy to think that the outlook for small businesses isn’t great. Many don’t survive for long, and others wither away in times of financial hardship. In order to give your small business a chance to thrive, you need to set it up for success from the beginning. If you’re looking to give your small […]
Where Can I Sell My Business Ideas?
I get it. What a nice dream … just sell the business idea, and let somebody else take the risk, find the money, and do the work. Except that the work, the risk, and the money is what gives the business idea value. Don’t Dream. Execute. So nowhere. The answer to your question about where […]
10 Perfect Hacks to Run Your Small Business Better
Trying to run a small business in the best possible way is something that you need to focus on right now, and there are so many things to think about when it comes to achieving this. Try to do as much as you can to work on taking things forward in the right way, and […]
Should You Start a Business? Test Your Idea First
As I write this, during the worst pandemic in 100 years, in the grips of a severe economic slowdown — let’s all hope it’s just recession, not depression — people still want to start new businesses. We still come up with new business ideas. Some ideas come from the new problems we are experiencing, some are long-standing good […]
Moving from a Business Idea to Business Actuality
Things to Know, Consider and Do. Just about anyone can come up with ideas for a business venture. This is usually the easy part. The difficult part usually lies in actually being able to transmute that idea into reality. It is at this stage that most people fall short. While the vast majority of people […]
How to Use COVID-19 Crisis to Refocus Your SME
There may be no business in America that has not felt the impact of COVID-19 one way or another. SMEs are more likely to be disproportionately affected by the crisis; in fact, more than 60 percent of smaller businesses believed that their revenue was likely to shrink in the next six months. Where larger businesses […]
3 Important Questions You Must Ask To Build A Strong Startup
Building a company from the ground up, no matter how small it is, is a difficult process that can trip up even the most experienced entrepreneurs. Startups are well-known for their unique ability to suck your energy and resources and then leave you with feeble results in the end. That’s one side of the coin. […]
The Basics: All You Need To Know About Running a Small Business
Owning a small business is one of the most rewarding and challenging things you can do. You’re responsible for your success and get to focus on doing things your way. Though it’s ultimately up to you, there are a few things you’ll need to do to make sure your company can be as successful as […]
Do Those Summaries. Use Those Frameworks. But Don’t Think They Replace Business Planning.
There is some bad advice floating around in the startup world. Useful as the Lean Canvas is, and despite some well-intentioned suggestions of summaries, those are not business plans. They don’t deal with the drivers and components of cash flow. They don’t set milestones, metrics, and tracking. You can’t run a business with them. And […]
