Resistance Makes You Stronger

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It’s time to toughen up!

With the promise of this new year fast upon us, it’s time to take the bull by the horns. If you were dissatisfied with last year’s performance, you can use that feeling to catapult you to achieve new heights of success in 2019.

We know that going into any business venture there will always be setbacks and disappointments. However, they do not need to be a negative. Use your memory… Read More

Avoid Buying Hard Assets

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Avoid buying hard assets.

Depreciation depreciates your cash flow.

Ask anybody who’s ever bought a brand-new car what happens to its value as soon as you drive it off the dealer’s lot and you’ll know why you should be very cautious about adding any hard assets to your business. While this is always prudent, it is especially important when… Read More

Joining a Chamber of Commerce? Not so fast!

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Don’t trust any organization to look out for your best interests.

One of the first decisions a new entrepreneur makes is whether or not to join the local Chamber of Commerce. While at first glance this might sound like a sensible investment, there are some things you should consider before plunking down your membership fee.

There is a common fallacy that the… Read More

4 Reasons Not To Get A Booth At A Chamber Of Commerce Expo

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How to measure your Expo return on investment.

New and inexperienced business owners are often desperate to get customers but don’t always know how to go about it. So what do they do? They copy what everybody else does. Frequently, they spend gobs of money they don’t have and tie it up by getting an expensive booth at a Chamber of Commerce Business Expo. There are several reasons why this may not be a good idea for you.

First… Read More

Improve Cash Flow Instantly!

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Keep your accounts receivable up-to-date.

Years ago, I was coaching a plumber who worked primarily by himself. He had one helper and eventually hired one administrative office assistant. Even though he had been in business for quite a long time and was apparently a good plumber, his business was drowning (I apologize for the pun).

His branding was terrible and looked like it had been drawn by a six-year-old, but that wasn’t his biggest problem. He couldn’t keep his business afloat (sorry…pun #2)… Read More

Business Alliances Are Better Than Business Partners

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Avoid the partnership temptation.

For a while, there seemed to be a trend among my entrepreneurial coaching clients to find somebody to partner with as soon as they started their businesses. What they don’t realize is that people who own businesses think like owners. They worked long and hard and invest countless hours of sweat equity into their businesses. It’s hard to find somebody else who possesses the same passion for your business as you do. If they do, it’s more likely they’ll want to run their own company rather than run yours.

If they do become partners, they… Read More

Don’t Overpay on Your Business Education

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Your mistakes will make you more profitable and more successful.

Entrepreneurs know that when you start up your own business, you’re likely to make mistakes. These come in all forms, from overbuying inventory that you don’t really need, ordering printed marketing tools and then discovering a typo, hiring the wrong people, or not charging enough for the items you sell.

Hopefully, a wise business owner will seek out… Read More

All Men Marry Up

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Demonstrate respect for your spouse.

I hate to admit this but, before I got married, I lived in the attic of my parent’s house until I was 31 years old. While that might sound terrible, there were some pluses. I was a disciplined saver. I had no debt and didn’t spend a lot of money on frivolous things.

When we got married, my wife was 30 years old and she’d lived on her own in an apartment for many years. She had… Read More

Attention Owners: It’s Always Your Job!

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Instill a sense of ownership in your staff.

Sometimes entrepreneurs go into a new business not realizing where their time is going to be spent. That’s easy enough to answer. Your time is going to go where ever it is needed: whatever and whenever the customer needs it.

Make no mistake about it, though. If you are starting your own business, your primary activity will be… Read More