Great Ideas for your Small Business: Be Prepared for the Sale Thousands of small businesses change hands every year, but often not enough money is left in the hands of the seller. I asked David Troob, former chair of the Geneva Companies, an Irvine, California–based mergers and acquisitions firm, to share some advice about preparing … Read more
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: 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: 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
Great Ideas for your Small Business: Move Your Business into a Main Street Revitalization Zone When paul curtain, owner of raymond’s Jewellers in downtown Sioux Falls, South Dakota, needed a loan to remodel his store, he borrowed money, below prime rate, from a revolving fund set up especially for downtown merchants. “As a small retailer, … Read more
Great Ideas for your Small Business: Get Free Government Counseling After working in retail for twenty-two years, Barbara Galloway wanted to start her own business. One of her first stops was at the Jacksonville State University Small Business Development Center. Counselors there provided her with help in finding a good location, setting a budget, record … Read more
