I’ve been on a hectic book tour the past several weeks, and I’ve listened to thousands of small business owners discuss their concerns. One common problem: we need more sales. Yes, we’d all like to increase our revenue and build our businesses. But hold your horses — not all sales are good sales. Sounds counter-intuitive, [...]
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There comes a time when every business must secure financing to cover their growing needs. Whether it’s to buy new equipment, purchase land, improve an existing location, or to just give your business a little breathing room, a loan can sometimes mean the difference between making it to the next level and falling behind your [...]
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While speaking at Entrepreneur magazine’s Growth Conference in Atlanta this week, I spoke to small business owners in a talk I’m calling 3 Weeks to Startup after the book that I co-authored. I went over the basic assumptions behind starting a business in three weeks – that it’s a tight schedule, and very quick, but [...]
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(This is number 2 on my list of the top 10 startup mistakes) It happens way too often: Startups that might have made it go under because they run out of cash. Sometimes that means they didn’t calculate how much they needed to cover those early months when revenue was less than spending. That’s a [...]
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Reading this article about how American Airlines is planning to charge $8 for a blanket on certain flights got me started on one of my favorite rants. When did we start getting so angry with large businesses for trying to make a profit? No, no… I get it. I know it’s bad form right now [...]
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So, I do follow my own advice. Yesterday I posted here about how putting video on your site is relatively easy. So today I’m posting this video here. I did it last weekend. I confess; I was motivated in part by wanting to do something with my new FlipHD video camera. The river seems to [...]
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Planning, monitoring, tracking, and managing your cash flow and cash balance is always important. In an economic downturn this becomes, perhaps, your most important business management activity. In this next addition to our Global Entrepreneurship Week series of “Back to the Fundamentals” business planning articles we look at The importance of cash flow during an [...]
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Our part of Global Entrepreneur Week got off to a rousing start this Monday morning with Palo Alto Software’s founder and president Tim Berry conducting a Webinar on “Back to Fundamentals” of business planning. One of the points Tim stressed to the 600+ webinar registrants is the importance of managing the cash flow of your [...]
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On their Small Business page CNN.Money.com has published some interesting stories on small businesses in the U.S. who are feeling the credit crunch and how they are responding. One page has a series of vignettes of small business efforts to cope. Business owners discuss many problems and solutions from moving their business locations, late accounts [...]
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Good, solid, well-thought-through cash-flow planning just became all the more important. The New York Times reported in a 28 July 2008 article, Worried Banks Sharply Reduce Business Loans, how banks nationwide have clamped down on loans and lines of credit to businesses. “Financial industry executives say tighter credit from major banks represents a swing back [...]
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