How can you tell when it's Time to Grow Your Business?
Most small business owners hope to, or plan to, grow. When you open one café you may have dreams of a nationwide chain. The first product you use…
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Rethinking Entity Choice in Light of Tax Cuts and Jobs Act
Until the inception of the Tax Cuts and Jobs Act, entity selection by businesses was a fairly easy decision. In most cases, businesses chose a form of pass-through…
Avoiding Cash Flow Problems
Poor cash flow can affect much more than the financial performance of your business. The non-financial costs of poor cash flow can have just as negative an impact…
How to Succeed as a Franchisee
So, you have an interest in owning and operating a franchise? Or maybe you know someone, such as a family member, who shares your interest? Hopefully, this information…
Maintaining a Thriving Family Business
On many occasions, I’ve seen entrepreneurs embark on operating a family-owned business and thinking that it’s going to be easy to be successful or that there won’t be…
Why Do You Need a Business Plan?
It’s frequently said that if you don’t plan for the future then you must be planning to fail. Hence, it’s fair to say that a business plan is…
Value-Based Pricing For Professional Services
How do you determine how much to sell your service so that you can maximize your business’s profits? Do you have a pricing strategy? Do you have, and…
Have You Considered Buying a Franchise?
Do you happen to be one of many who has dreamt about going into business for yourself but couldn’t put your finger on what kind of business to…
Business Ownership Structures
A necessary step in the initial stages of setting up your new business is to determine which form of business ownership structure to adopt. The ownership structure that…
Not For Profits – Basics
A Not For Profit (NFP) organization operates not for the purpose of generating and distributing profits to the owners, but the purpose of generating and distributing profits--i.e. revenue…
Project Management – Basics
The term “project management” refers to a more specialized management and control process that is associated with particular activities that fit within the definition of a “project.” Projects…
Small Business Growth Stages
It is widely agreed that all small businesses, no matter which industry, go through similar definable stages of growth. Researchers have found that each growth stage has certain…
4 Steps To Starting Your Own Business
Owning a business is a dream shared by many. The dream of an independent professional lifestyle, self-made financial success, and “being the boss” is not uncommon. Unfortunately, the…
What About Growing Your Business?
Before entering a discussion of ways to grow your business it would be worthwhile to investigate what growth really is. One of my favorite business axioms is “the…
Mistakes To Selling Your Business
Perhaps the most significant transaction faced by any business owner is the sale of his or her business. Inevitably, a variety of factors will play a role both…
Popular Ways To Fund A Small Business
Whether the funding is for kick-starting a great idea for a new business or achieving a competitive advantage that will fuel future growth, little else matters as much…
Capital Budgeting
Capital budgeting is a quantitative decision-making approach for evaluating and choosing between one or more investment projects under consideration by an organization. Through the use of the capital…
Performance Indicators for Small Business Owners
Financial Ratios Financial ratios are metrics that help measure the health and performance of a business. Such ratios help tell the story behind what’s disclosed in the company’s…
Leaving A Business: Which Exit Plan Is Best?
“Nothing lasts forever,” as the age-old saying goes. Eventually, ownership and key employees will leave your business, voluntarily or involuntarily, and no longer play a role in the…
Is an LLC right for your Business?
A Limited Liability Corporation (LLC) is a hybrid between a sole proprietorship and a corporation. So, as the owner or partner in an LLC, you are considered self-employed…