For Our Members
| TITLE |
DESCRIPTION |
|
|
I have a new reason for why new businesses fail. They don’t do enough planning or homework before they start telling others about their brilliant 'idea.' |
|
|
The country is in a widespread financial crunch. It’s very common during trying economic times for folks to decide the answer to their problems is to start a business. That’s a bad idea. It will open the door to the dilemma of who do I pay, my vendors or the grocery bill. |
|
|
Some people are just bound and determined to conclude that big businesses in any given market niche pose a dire threat to small business owners. However, did you notice the news stories that covered the towns where the small business owners got together and kept Wal Mart from moving in? |
|
|
Everyone is worried about the slow economy and the high prices that are driving us all nuts. Nightly news spotlights keys to help with gas and where to eat out. Advice on these issues is only wise if economically sound. |
|
|
I just had a Linkedin member ask me to consult on a project in exchange for equity. And, perhaps down the road, three to six months, they would have the money to pay me. Ah, gee! Well, no! |
|
|
We have all seen the television commercials where someone is throwing off the shackles of working for someone else and launching his own. Freedom to do your own thing is the theme. And, of course, while you are it, come and buy our products. |
|
|
I have heard several small business owners whine about a workload and claim they couldn't possibly market for new clients. This would put them under pressure that couldn't handle. You don't ever want to find yourself in the position of turning down work. The only way to avoid it is to plan ahead. |
|
|
Unplanned for growth can kill a business. The Small Business Administration still swears most businesses fail in the first five years. I am still swearing by the idea that this is usually a lack of planning. The planning, more than likely, leaves out expansion. |
|
|
The Next Step to getting out of the 9-to-5 grind. I chatted recently with a woman who was desperate to start her own shop. She had a big hurdle to overcome first, her credit card debt. Starting a business is hard enough without having to worry about paying off personal debt. |
|
|
There is an under-the-current problem with this question which most folks never understand and end up making wrong decisions their entire lives. They ignore opportunity cost, which is simply putting your hours in this case to work on one job. |
|
|
Offering a cheap price for a service when starting out is fine. Keep your pricing too low for too long and you will have your customer’s wondering why you are not in sync with the rest of the market. Make sure you get some extra perks. |
|
|
If you are running your own business, crazy clients will pop up in your life. This is more oriented to those offering services. Products sellers will have nutty customers from time to time, but the effect is not as potentially damaging. |
|
|
Most jobs are just what my eldest daughter described to me years ago when she was starting her own business and just quit her legal secretary job. She said, "Mom, remember this. The only thing any job is: JUST OVER BROKE." |
|
|
Frustrated with your job and just want relief? Launching your own shop is not the answer. Contrary to all the promotional material about how you will be earning great gobs of money shortly if you work out of your home, nothing could be farther from the truth. Earning that kind of money takes time and a lot of hard work. |
|
|
Starting a business can be overwhelming. Those newly bricked roads
twist and turn so much they some times get newbie business owners
twisted in their thinking. Running out the starting gate is a rush
and many get crushed in the shuffle. |
|
|
There is a new prime time commercial about a furniture business that has great numbers. The owners talk for a minute or two about what they are going to need to keep up with the demand. The conclusion was that Citi Group would help. |