If the Serenity Prayer had been written by a small business owner it might read: God grant me the serenity to admit there are business tasks I don’t do well, the courage to do the ones I excel at, and the wisdom to know the difference. As a small-business owner, you need to decide what your [...]
For many small businesses, the best strategy is to think small, not big.
“Manufacturers and retailers report that people are buying less, more frequently, and are determined to keep cash on hand,” according to a Wall Street Journal article called “The Just-in-Time Consumer.” Flexibility is the key to success in the current economy, where frugality and basic necessities are in, and big spending and luxuries are out. That [...]
Small businesses that are overcoming the odds and growing rapidly need to find creative ways to maintain their momentum. Since they usually don’t have big budgets for marketing campaigns, they should take advantage of free publicity whenever possible. One source of free publicity is small business awards. If you’re enjoying impressive growth, you may qualify [...]
Managers are often guilty of compartmentalizing their staff into silos: Bob handles the phones, while Sally boxes the widgets. This can work well… until Sally gets sick and Bob gets bored. If one staff member is out for an extended absence, your business can suddenly be hamstrung because no one else knows how to do [...]
When you’re just starting out as an entrepreneur, money is usually scarce. That’s why you need to find creative ways to trim expenses and run your business on as lean a basis as possible. To help you out, here are 10 simple ways you can save money in all facets of your operation. 1. Use [...]