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It takes intelligence, talent, and perseverance to make it to the top in the corporate world; it’s not for the meek. Corporate executives are a special breed; they thrive on pressure, have no problem working extremely long hours, and are usually willing to do whatever it takes to ensure that the companies they run are highly successful. Kind of like what it takes to be the owner of a thriving franchise business. Over the years, I’ve worked with lots of corporate executives who’ve wanted to “explore their options,...
Ugh! It’s summer and the kids are out of school. For many women business owners with school-aged children the summer months can be a challenging time. The demands of your business continue to be 24/7, while simultaneously you want to spend quality time with your children. How do you balance these conflicting demands? Why not hire them to work for you? Now before you outright reject the idea, consider the benefits. Putting your kids to work over the summer can keep them from...
But how can I forecast a new product? I have no history? How would I know? I think I’ve received this question in email more than a hundred times. So I’d like to answer it here, where it might be useful for startups, entrepreneurs, and you. I’m going to start with two basic principals and then suggest three sample methodologies. The first principle is that it’s not about guessing the future correctly. Nobody can. Instead, it is about laying out some assumptions so you can track results and make useful business decisions...
Are you using credit to help finance your new business venture? You’re not alone as statistics show that over 65% off all business owners use credit for business purchases. But what’s alarming, is that only 50% of those cards are actually in the business’ name. As a business owner using personal credit cards for business is a risky approach since you assume total liability and if your company is sued or fails you risk losing personal assets and good credit ratings as well. So how do you go about building credit in...
By TJ McCue The life of a salesperson is changing, but not as fast as buyers are changing. It is arguable if sales techniques and methods in use at most corporations are even close to in tune with the market. Instead of Selling we need officially to call it “Selling to Buyers” just so we don’t get confused about what we’re doing. If this sounds rudimentary, forgive me, but most sales people I know think that selling is about sharing what they know, what their product does, pitching, talking, presenting. That’s not...
Spring is here in full force. It’s one of my favorite seasons, because it symbolizes change and growth. One of the best ways to keep your small business growing is to make sure you keep up with any changes in your target market. So in harmony with the season, why not sow the seeds for new business growth by doing some market research to make sure you're still in tune with your target customers? Even if you did some research when you started your business, now’s the time for a refresher. Here are 7 key steps to help:...
Electronic solutions for your business taxes give you 24/7 flexibility for filing, avoid postage and mailing hassles, save paper, and ensure that your returns and tax payments are received. Filing returns Federal returns. All business-related federal tax returns can or must be filed electronically. These include: Income tax returns (Schedule C with Form 1040 for sole proprietors, Form 1065 for partnerships, Form 1120S for S corporations, and Form 1120 for C corporations) are filed with the IRS. While large corporations (assets of $10 million...
At the Ohio SBDC we train and advise entrepreneurs and small business owners at every stage of business from those that only have an idea and need guidance on how to develop it into a business to established, existing businesses seeking expansion or in financial hardship. We run the gamut. Undoubtedly the most challenging to work with are those that are just starting out. They are passionate. They believe their business is the best thing that has happened to the human race since the invention of indoor plumbing and that’s a good...
The business model of franchising is one that’s consistently held in high regard by most business experts. That’s because it works. Is that why you’re thinking about buying one? You’re also investing in a franchise because; You want to have more control in your professional life You want a business of your own You wish to follow someone else’s business system You want to get to market quickly You don’t want to be alone in your venture You want to build equity If you choose...
A smokin’ hot trend in the online world of small business as I write this is the “daily deal site.” This trend is spurred on by news reports of Groupon.com, which garnered national publicity for reportedly being valued in April 2010 at $1.2 Billion and then a year later, in 2011, at $25 Billion. While some commentators greet the latest valuation with a healthy dose of skepticism, the Groupon valuations have accomplished one thing. The valuations got the attention of startup entrepreneurs from coast to coast who are...
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by FranchiseKing, Guest Blogger on Thursday, June 16, 2011 - 09:43