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Casual Articles - Make Your Small Business a Gold Mine in 4 Steps!
Small businesses are popping up everywhere. However, one of the biggest problems they face is small business marketing. To understand this lets first take a look at why.Today more than ever, people are jumping on the small business band wagon like the traffic that arrives at a 60% off sales at a major clothing store.There are all kinds of people starting their own plumbing business, contracting business and whatever else you can think of.Part of the reason for this is there is no job security a
Some day you may want to sell your company. If you’ve planned correctly--you could have your own private gold mine or better still your own private Bank.
Just so we’re clear…I think working for a corporation as a career is folly. In subsequent articles I’m going to make my point that depending on a long term job, with a large company that will be financially sound 15-25-40 years from now is not good planning. There are all kinds of small business opportuni
As I am sure you know by now, AGLOCO has launched their program. Touted to be the Internet's first Economic Network, which will harness the power of the Internet-based social networks to "directly benefit the Members who help to create the community". What does that mean?The founders of AGLOCO (A Global Community) saw the huge potential in the social networks like MySpace, Facebook, and YouTube. All those potential customers have advertisers drooling at the mouth. If the users created the community why not giv
Here’s how:
- Make sure that your business, whatever it is today, has the legs to grow into the future.
If your business is in a dying industry, and you know it, then find an economical, sensible way to get out. For instance, I have clients in industries that are losing business to China…and I mean rapidly. If these domestic companies don’t quickly find joint venture partners in China they won’t survive another three years, maybe less. Research like crazy to be sure that your company’s products/services have survivability.
- Make a business plan for this current year and for each year for the next five years
Do not delay in doing this. I know that making a business plan is a pain, particularly if you’ve never created one. It’s also hard seeing five years out. But try anyway. Think what your customers and their marketplace will be looking for five years down the road. Get out from behind your desk and go see your customers. Ask them questions. Listen carefully to their answers.
- Hire the best people you can find and do whatever you can to keep them enthused and happy.
Give them responsibility. Help them plan their own careers and their personal lives around your company. Try to give/ sell your key people equity in the business. At best you can create ownership for your people. Your success and financial future is in lock-step with your employees. Be hard nosed about hiring and keeping the best people. Set up a “not to be violated” model for employee re-cruiting. Do not waver. Never hire an inferior person because you might be needy at that time. Be sure your people understand what you want from them. Even more important is that you know what they want from your company---then help them get what they want and you will realize much more than you even planned for.
- Watch your cash and your cash flow.
That isn’t saying the same thing. Whatever your system you use, complex or simple, get a cash balance everyday. You also should look at how much cash has come in for the week to date, month to date and year to date. These are simple items and are easy to generate. You must also receive a daily cash outgo report. Demand that a Profit and Loss Statement and a Balance Sheet are on your desk no later than 10 days after the end of the previous month. Do not accept excuses for not receiving this information. At the end of every week, look ahead to the next week to forecast your AR and the AP list. Run current aging reports every month. Speak to your outside accountant once a month when you receive your financials from the prior month.
Once a year ask your accountant for an appraisal for the market value of your company. Basically, it’s nice to know information, even though retirement may be years away. Do not depend on anyone, nor count on any “outside” retirement plan to fund enough money for your retirement.
Check out these links for almost every day-news about retirement age people who have been victimized by their own employers and the economy:
Some day you may want to sell your company. If you’ve planned correctly--you could have your own private gold mine or better still your own private Bank.
Just so we’re clear…I think working for a corporation as a career is folly. In subsequent articles I’m going to make my point that depending on a long term job, with a large company that will be financially sound 15-25-40 years from now is not good planning. There are all kinds of small business opportunit
As a business and technology consultant there is one significant error I continue to see in modern business practice. Too often, management treats their payroll expense as a fixed cost of doing business. This is caused by the accounting practice of lumping payroll as a operating expense line item. While this is an acceptable accounting practice, a good manager must accept the reality that the work output of the employee should be directly proportional to the salary.Too often I have heard managers state somethi
Do not delay in doing this. I know that making a business plan is a pain, particularly if you’ve never created one. It’s also hard seeing five years out. But try anyway. Think what your customers and their marketplace will be looking for five years down the road. Get out from behind your desk and go see your customers. Ask them questions. Listen carefully to their answers.
Give them responsibility. Help them plan their own careers and their personal lives around your company. Try to give/ sell your key people equity in the business. At best you can create ownership for your people. Your success and financial future is in lock-step with your employees. Be hard nosed about hiring and keeping the best people. Set up a “not to be violated” model for employee re-cruiting. Do not waver. Never hire an inferior person because you might be needy at that time. Be sure your people understand what you want from them. Even more important is that you know what they want from your company---then help them get what they want and you will realize much more than you even planned for.
That isn’t saying the same thing. Whatever your system you use, complex or simple, get a cash balance everyday. You also should look at how much cash has come in for the week to date, month to date and year to date. These are simple items and are easy to generate. You must also receive a daily cash outgo report. Demand that a Profit and Loss Statement and a Balance Sheet are on your desk no later than 10 days after the end of the previous month. Do not accept excuses for not receiving this information. At the end of every week, look ahead to the next week to forecast your AR and the AP list. Run current aging reports every month. Speak to your outside accountant once a month when you receive your financials from the prior month.Once a year ask your accountant for an appraisal for the market value of your company. Basically, it’s nice to know information, even though retirement may be years away. Do not depend on anyone, nor count on any “outside” retirement plan to fund enough money for your retirement.
Check out these links for almost every day-news about retirement age people who have been victimized by their own employers and the economy:
Some day you may want to sell your company. If you’ve planned correctly--you could have your own private gold mine or better still your own private Bank.
Just so we’re clear…I think working for a corporation as a career is folly. In subsequent articles I’m going to make my point that depending on a long term job, with a large company that will be financially sound 15-25-40 years from now is not good planning. There are all kinds of small business opportuni
When you take a look at what is up and coming when it comes to careers among the younger generation fashion designer seems to be a frequent choice. This comes from the freedom that younger generations have gained in being able to set what they want to wear. Because of this, setting trends instead of following them has become a norm.The life of a fashion designer is also one that is full of excitement. You get the ability to meet famous people and if you are lucky, enough get the opportunity to have those peopl
That isn’t saying the same thing. Whatever your system you use, complex or simple, get a cash balance everyday. You also should look at how much cash has come in for the week to date, month to date and year to date. These are simple items and are easy to generate. You must also receive a daily cash outgo report. Demand that a Profit and Loss Statement and a Balance Sheet are on your desk no later than 10 days after the end of the previous month. Do not accept excuses for not receiving this information. At the end of every week, look ahead to the next week to forecast your AR and the AP list. Run current aging reports every month. Speak to your outside accountant once a month when you receive your financials from the prior month.Once a year ask your accountant for an appraisal for the market value of your company. Basically, it’s nice to know information, even though retirement may be years away. Do not depend on anyone, nor count on any “outside” retirement plan to fund enough money for your retirement.
Check out these links for almost every day-news about retirement age people who have been victimized by their own employers and the economy:
Some day you may want to sell your company. If you’ve planned correctly--you could have your own private gold mine or better still your own private Bank.
Just so we’re clear…I think working for a corporation as a career is folly. In subsequent articles I’m going to make my point that depending on a long term job, with a large company that will be financially sound 15-25-40 years from now is not good planning. There are all kinds of small business opportuni
Fess up! Tell the truth!!! You’re a Queen Bee!!!Okay.. maybe not all of the time.. but some of the times! Think about where you DOMINATE. Where do you rule the roost? Where are you most confident? Where can someone NOT trip you up!!!???What? You’re a man? Okay.. you can call yourself A BULL for all I care.. but you’re still a QUEEN BEE!!!I think it’s cute.. but it’s also important to know WHO is the QUEEN BEE WHERE!!!I think of myself as a Queen Bee! Many places I go, I tend to be noticed.
Once a year ask your accountant for an appraisal for the market value of your company. Basically, it’s nice to know information, even though retirement may be years away. Do not depend on anyone, nor count on any “outside” retirement plan to fund enough money for your retirement.
Check out these links for almost every day-news about retirement age people who have been victimized by their own employers and the economy:
Some day you may want to sell your company. If you’ve planned correctly--you could have your own private gold mine or better still your own private Bank.
Just so we’re clear…I think working for a corporation as a career is folly. In subsequent articles I’m going to make my point that depending on a long term job, with a large company that will be financially sound 15-25-40 years from now is not good planning. There are all kinds of small business opportuni
Buzz marketing, also known as ‘word-of-mouth marketing’, ‘guerilla marketing’ or ‘stealth marketing’ is an art of human kind to involve the trendsetters in any community to carry the brand’s message, thus creating an interest in, and a demand for, the brand with no overt advertising.Nirmalya Kumar, professor of marketing, director of center for marketing and co-director of A.V. Birla India at London Business School.When Dietrich Mateschitz formulated the drink “Red Bull” in 1987 for Australian market, b
Some day you may want to sell your company. If you’ve planned correctly--you could have your own private gold mine or better still your own private Bank.
Just so we’re clear…I think working for a corporation as a career is folly. In subsequent articles I’m going to make my point that depending on a long term job, with a large company that will be financially sound 15-25-40 years from now is not good planning. There are all kinds of small business opportunities today, like never before, that can bring financial independence to you and your family. I will offer examples in future articles.
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