For the love of your business
For the love of your business
Although cash is the lifeblood that sustains every business, far too many business owners fail to properly manage their cash flow. And this is despite the fact that statistics consistently show that running out of money is one of the main reasons new businesses go under. Trying to run a business without carefully managing your […]
Read MoreIf you’ve ever had clients who were more trouble than they were worth, you know how stressful such toxic relationships can be. Yet, it can be difficult to drop a client, especially if your business is just getting off the ground or cash is tight. That said, when dealing with certain problem clients, sometimes the […]
Read MoreQUESTION ______________________________________________________________________________ Q: How can I make sure that my family will be able to successfully take over my business once I’m gone? —Ready to Retire ANSWER ______________________________________________________________________________ A: Dear Ready: There are countless stories of family members assuming control of multi-million dollar companies and running things into the ground in […]
Read MoreOne of the main reasons for setting up your business as a corporation or limited liability company (LLC) is to shield your personal assets from debts and other liabilities incurred by your business. Corporations and LLCs exist as separate legal entities from their owners, which allows the business itself to acquire assets, enter into contracts, […]
Read MoreIn the last decade, the rise of the gig economy has fueled an unprecedented increase in the number of independent contractors (ICs) in the U.S. workforce. And that growth has only accelerated in the wake of the pandemic, with more companies relying on remote work arrangements, and many workers laid off during the shutdowns and […]
Read MoreWhenever you have a partner or multiple owners in a business, one of the most important—but often overlooked—aspects of the relationship is planning for how it will end. It’s crucial that you come up with a clear exit strategy, and do so at the start of your relationship when things are going well, and not […]
Read MoreAs a small business owner, you may not consider cybersecurity as one of your top priorities, especially if you have a limited online presence. However, that kind of thinking can leave your company seriously vulnerable to hackers and a rapidly increasing number of online threats. And the threat against small businesses is at an all-time […]
Read MorePaying your children—whether they’re tweens, teens, or young adults—to work for your company is one of the greatest advantages of running a family business. By hiring your kids, you can help them develop a strong work ethic, give them experience managing money, and jumpstart their ability to save for their future, all while keeping more […]
Read MoreFar too many aspiring entrepreneurs jumpstart their businesses without taking the time to properly plan. Just as a builder uses a blueprint to ensure a new construction project will be structurally sound, a carefully researched and well-thought-out business plan allows you to determine whether or not your business concept will actually succeed and make money. […]
Read MoreBusiness growth is a dream that sparkles in the eyes of many small business owners. But bigger is only better when your business is set up to support the life you want. Bigger is not necessarily better. Best is a business that supports you to have a life you love, with an income to match, […]
Read MoreIf you’ve been working as a true solo entrepreneur up until now, it’s time to consider hiring support to leverage to your next level. . The moment when a small business owner decides to hire their first employee is one of triumph. Conversely, knowing how to start the hiring process can also be a moment […]
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