Financials

I have seen many wanna be entrepreneurs come and go. They tinker around with new ideas, claim it does not work and then go back to getting a job. One common thread I find amongst wanna be entrepreneurs is they do not know how to effectively compete. For any entrepreneur to succeed, they need to compete in a market. Market versus Industry A market is a place where buyers and

As an entrepreneur, running out of cash is not an unusual problem. When you have cash flow problems, the first question you need to ask yourself is, "why did I run out of cash?" The problem of running out of cash can be divided into two broad groups namely: Marketing Problems Bad Financial Management Marketing problem Marketing problems are problems tied around your customers. Marketing problems show up in two

The return on assets tells management how much profits existing assets churn out for the business. The return on assets is a very important metric for asset intensive businesses. If your return on asset is low, then it is wise to rethink of your business really needs existing assets to remain profitable. Eliminating some of the assets in your business might actually be more helpful in making a business profitable.

In this podcast, you learn the importance of building a sustainable business organization by creating standards and procedures interwoven into your business.

The extent you need to plan for your business transition depends on if you want to completely let go of your business or if you want to maintain an element of control while not being involved in the day to day operations. Transitioning the operations of the business You might want to retain ownership of your business without being involved in the day to day operations. You need the flexibility