Great Ideas for your Small Business: Sell at the Right Time and Price Business broker colin gabriel has some simple advice for entrepreneurs: Keep your financial statements audited and buff up your business plan. Why? Because you never know when a buyer will show up. “The best buyers are the ones who come knocking on … Read more
Great Ideas for your Small Business: Rent a Financial Genius Ward wieman, founder of management Overload in Santa Monica, California, helps small, fast-growing companies manage rapid growth. To manage his own cash flow, he says, “I rent a financial genius once a month.” Relying on this kind of outside expertise helps him keep track of … Read more
Great Ideas for your Small Business: Sell Stock in Yourself Do your customers love your products? Then maybe they love your company enough to invest in it. Small companies with loyal customers and growing potential are likely candidates for an alternative form of financing called the direct public offering, or DPO. “Ninety-five percent of the … Read more
Great Ideas for your Small Business: Find a Strategic Partner Finding the right strategic partner is a critical key to success for many small companies. Teaming up with a bigger, financially stronger partner can provide a source of cash for growth and expansion. Joining forces with a more creative, nimble, or well-connected partner can open … 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
