Cash flow is one of the main reasons businesses fail. At one time or another, every business, even successful ones, have experienced poor cash flow. Cash flow does not have to be a problem any more. Do not be fooled -- banks are not the only places you can get funding. Other solutions are available and you do not have to borrow.What is Factoring?One solution is called factoring. Factoring is the process of selling accounts receivable to an...more
How often have you thought of running your own business because you assumed it would be easy? Or if you currently have your own business, you thought, "There's got to be an easier way to do what I do." Fact is, often there is not an "easy way" to achieve business success. It takes time, commitment and most importantly realizing that success leaves clues. The clues are available if you are willing to look for them. As the owner and operator of a...more
The television show "Who Wants to Be a Millionaire?" made a great splash when launched, and even spawned a number of imitators.One of the features that made the show popular was the Lifeline. That's a mechanism an uncertain contestant used to ask for a second opinion, before committing to an answer.Not long after the show started, I read a cartoon that used the Lifeline idea as the basis of its punchline, and it probably wasn't the only time that happened. It's telling, too, isn't it, that I've capitalized the word, making it something more than just another noun.The cartoon prompted me to recognize the smart use of language by the producers, to support the concept underlying the program. Consider this: the title of the program, "Who Wants to be a Millionaire?", asks a leading question. The answer, obviously, is an awful lot of people. Literally millions. You won't find that surprising, though, if you've watched or stood in lineups for lottery tickets.And, if you get a chance to win a million and find yourself stumped for an answer, what do you do? You use your Lifeline.In my mind, a lifeline is a piece of rope thrown to a person in danger of drowning or being swept away by water....more
In my career, I have had a total of 3 businesses myself and a few others where I am in partnerships. Each time you start a business the basics are pretty well the same. Here are 10 things I believe are really important for anyone starting up a business....1. Don't waste your dollars on things you don't need. This alone is one of the biggest reasons...more
A business owner is thoroughly responsible for their own financial survival and possibly the financial survival of their employees. Business owners, for the most part, seem to be "risk takers", who really don't easily "go with the flow". They are inventive and somewhat confident, as just having their own business does mandate that they possess...more
Last week I was having a quick browse on eBay when something caught my eye. "Black patient shoes!" screamed the headline. "Must see!" "Wow!" I thought. "Patient shoes! What are they when they're at home?" I clicked on the link. The shoes appeared. Black they certainly were. But 'patient'? No. Or not as far as I could see, anyway. These, you see, were patent shoes - as in 'patent leather'. And very nice they were too - just what I was looking for, and in my size. Did I buy them though? Not on your life. I didn't buy the "gorgeous sequence dress" I found a few minutes later, either. (Answers on a postcard if you can guess what a "sequence" dress isÂ…)My reasoning was simple. If the sellers of these items couldn't be bothered to take the time and care to make sure they'd got the name of the product right, and spelled it correctly, then how on earth could I trust them with the more complex matter of accepting my payment and sending out my patient shoes? The answer: I couldn't. The sloppy spelling had created the impression of a sloppy seller. It had also lost them a customer. So it is with business. You may think that a couple of spelling mistakes in an email or report don't matter....more
About 6 years ago I started to notice that certain friends of mine had quit their jobs but continued to live very luxurious lifestyles - seemingly without doing very much. I thought they must just be using up their savings until I discovered they...more
Equity lender, hard money lender, private investor or what ever term one uses can be a great source of funds to do real estate transactions and the question of how to find them comes up often!There are numerous ways to do this, and no two investors...more
Growing companies must always be ready for the next challenge. If you fail in meeting critical business challenges you will not grow. Challenges often require some type of breakthrough. But do not be misled. A business breakthrough does not have to...more
There's more to successful interviewing than writing a resume and showing up, but most people either don't know or can't be bothered to do those extras that may set you apart from the hundreds of applicants competing for your dream job.One of the...more
"It is with great interest and enthusiasm that I submit my resume for your review." Most cover letters are written in this humdrum tone. Cover letters do not need to be so dull, nor so uninteresting. This style of cover letter writing has been around...more
You can use this step-by-step method to hire applicants who are likely to be "superstar" employees: highly productive low-turnoverImportant: Focus on hiring applicants you rate positively on all seven prediction methods.1st Prediction Method = Brief...more