As a small business owner, you are always looking for ways to improve your profitability. After all, being profitable means that those things which are important to you can be done and enjoyed. A home, college tuition, a cottage, boat or other “toys.” Right now you may easily have 7% or more of your sales that could […]
We are small business owners from the Baby Boomer Generation. We aren’t as young as we used to be. The oldest among us is about 71, the youngest is about 51. We’ve worked hard running our businesses while raising a family, accumulating things and if we were successful, making money. So now what?
One of my favorite expressions I hear from small business owners is, “That doesn’t fit my business model.” I have sometimes followed up when hearing that and asking simply, “What is your business model?” Usually, I am told a lot of “stuff” about demand, processes, partners and things that really aren’t overwhelmingly important. In
Is Business Goodwill something a small business owner should be concerned with? I would say, without hesitation, absolutely yes. Not only does it add to the value of your business but if used appropriately, it becomes part of a tool to manage your business.
What is Small Business in America? By some definition it is companies of less than 100 employees. By others it is less than 500 employees. Some include home based businesses, some do not. For simplicity we will focus on companies of less than 100 employees and exclude home based business. There