Great Ideas for your Small Business: Choose the Right Bank One of the biggest challenges a small business owner faces is establishing a good relationship with the right bank. The problem is, bankers are often cast as villains by the small business community. While the myth is that bankers just don’t like entrepreneurs, the reality … Read more
Great Ideas for your Small Business: Find Yourself an Angel If your company is too young, too risky, or too offbeat to qualify for traditional bank financing, you might want to look for an angel. An angel is a private investor, often a successful entrepreneur, who invests in small businesses close to home. Angels prefer … Read more
Great Ideas for your Small Business: Hire a Good Accountant No matter what stage of life your business is in, you’ll need an experienced accountant not just to prepare your taxes, but also to help you plan your long-term financial goals. A good small business accountant understands and keeps up with state and federal tax … Read more
Great Ideas for your Small Business: Learn from David Bowie David bowie may not at first be your idea of a savvy businessman, but in 1997 he did a bond deal that pulled in $55 million—and attracted a lot of attention. Instead of waiting for future royalties, Bowie went to Prudential Insurance Company and offered … Read more
Great Ideas for your Small Business: Write a Killer Business Plan If two down-on-their-luck beggars approach you on the street asking for money, are you more likely to give money to the dirty, dangerous- looking guy or the sincere, clean guy who asks politely for spare change? I’m not saying you are a panhandler, but … Read more
Great Ideas for your Small Business: Look for “Smart Money” Byron roth, president of roth capital Partners in Irvine, California, has watched his small investment banking firm grow to $60 million in annual revenues with 225 employees. His job is helping entrepreneurs finance their dreams. Based on years of dealing with thousands of entrepreneurs, he … Read more
Great Ideas for your Small Business: Become a Profit Enhancement Officer We’re all familiar with ceos, but ever hear of a “PEO”? A PEO is a “profit enhancement officer,” and that’s what every business owner should be, according to Barry Schimel, a Maryland CPA who quit doing tax returns to devote his life to boosting … Read more
Great Ideas for your Small Business: Understand What Success Means to You When asked for three words that define success, entrepreneurs offer a variety of terms: “Independence, control, security.” “Happiness, financial reward, recognition.” “Pride, acclaim, money.” “Friendship, practice, failure.” Success is tough to define, yet most entrepreneurs are obsessed by it. How do you define … Read more
Great Ideas for your Small Business: Take This Self-Help Quiz for Managers Self-help quizzes and do-it-yourself diagnostics are popular features in women’s magazines, but rarely appear in business books. Yet it’s worth taking a few minutes to think about how you are coping with the toughest job in America—running a small business. Being an entrepreneur … Read more
Great Ideas for your Small Business: Ask Your Employees to Evaluate You Good managers are trained to evaluate their employees carefully at least once a year. These formal, written evaluations are used for giving raises and promotions or documenting problems prior to termination. But great managers should be confident and open enough to reverse roles … Read more
