As the owner of several small businesses and the former controller of Huntsville Coca-Cola, and an MBA working on a Doctorate of Business Administration I’ve learned a thing or two about business. Its simple and complex, art and science, and so much more. It can improve lives or be self serving. Whether you own your own business or just work there, knowing the ins and outs of how business works can give you an advantage and set your career up for future success.
A look into Business concepts and How to Guides
67% of small businesses fail within the first 10 years according to the Small Business Administration. That is a frightening statistic if you are considering opening or have just opened a small business. Buy why do more than 2 out of every 3 businesses find themselves failing? There are a number of reasons businesses fail,Continue reading “Reasons Businesses Fail and What to Do about Them”
If you’ve ever had to wake up early and go to work all week, only to see that after paying bills you have about 20 bucks left for the week, I would be willing to wager that you’ve wondered if its even worth it. You may have also wondered about what it would be likeContinue reading “How to Start a Business”
Starting a dropshipping business can seem like an easy way to make money while you sleep and become wealthy beyond your wildest dreams. That’s what a lot of online advertisers want you to think anyway. In truth, if they were multi-millionaires from dropshipping they wouldn’t be spending thousands on adds trying to get you to do it. That would just further stretch the market share and increase their competition.
t the end of it all, every business has managers, but not all businesses have managers who are effective leaders. Learning how to coach, encourage, and pour into the knowledge, skills, and abilities of your team is something will ultimately give your business a competitive advantage.
Your First Steps and Where to Go from Here All businesses start with an idea. Some are ideas are simple and some complex, but the successful ones solve a problem. Sometimes it’s a problem you didn’t know you had. Ultimately, as long as your business adds value to the lives of consumers that’s what matters.Continue reading “How To Start a Successful Business You Love”
At this point you’ve found an idea you’re passionate about and want to monetize and you know you can connect with your audience. You’ve questioned it to iron out the details to find out if it can survive as a business.
To succeed financially, you need to know where your money is going and what you are getting in return.
Its common sense to think that if you made a net income that you would have a positive cash flow as well. Unfortunately, that’s not always the case in business. You have accounts payable, accounts receivable, depreciation, WIP accounts and so on. Your finances can get really complicated pretty quickly, so if you don’t haveContinue reading “Run a Business You Love – Understanding Cash Flow”
Why Are They Doing So Much Better Than I am? You may find yourself asking this question if you approach business with a “build it and they will come” attitude. You can set up a business with the same products, same prices, on the same street as your competitor and have vastly different results. ThisContinue reading “Starting a Business You Love- Competitive Advantage”
What’s your favorite sports team? How’s their offence? What about defense? Who’s their star player? What do they need to work on for the upcoming season? I’m not well traveled I’ll admit, so I don’t know about the rest of the world, but in the US about 90% of people can answer all those questions.Continue reading “Running a Business You Love – SWOT and PEST”