Negotiating : Understanding Incentives
Monday, April 30th, 2012 Posted in articles, best practices | Comments OffThis is a 'best practice' article in many ways, but delves into something I've discussed before - negotiating. One of the most important aspcets of negotiating is understanding the motivations & incentives of the parties involved. As an example, let's ...
Best Practices: Keep Learning (11)
Wednesday, July 27th, 2011 Posted in best practices | 2 Comments »The world is changing, new technology and new business processes, new competitors and new legislation make it a constant process of learning for us all. Unfortunately, as the business owner, it often falls on to you to keep up to ...
Best Practices : Jack-of-All-Trades (10)
Sunday, July 10th, 2011 Posted in best practices | Comments OffYou know the saying, Jack-of-All-Trades, master of none? Well, as a business owner especially at the onset for a small enterprise like this, you're much better off being a Jack-of-All-Trades. There are a ton of basic skills / knowledge areas ...
Best Practices : Schedule Me Time (9)
Saturday, June 4th, 2011 Posted in best practices | Comments OffRunning your own business is a lot of work. If you own a brick & mortar store, it's probably worst than online - at least I can work remotely and wake up 30 minutes later if I need to. It's ...
Best Practices : Penny Pinching & Being Penny Wise, Pound Foolish(8)
Tuesday, May 3rd, 2011 Posted in best practices | Comments OffMoney and cost cutting is a strange beast. You can be too loose with your spending and too tight as well, and learning where the right level is just a matter of experience. Penny Wise It's very important to cut costs in ...
Best Practices : Negotiate, Negotiate, Negotiate (7)
Friday, February 11th, 2011 Posted in best practices, business | Comments OffWhen you are running a business, always be looking to negotiate with your various suppliers. There's a lot of expenses involved in running the business - insurance, distributor discounts, rent, salaries, etc- and nearly all can be negotiated upon. As ...
Best Practices : Net Profit not Gross (6)
Monday, January 24th, 2011 Posted in best practices, business | Comments OffI'm going to introduce another series of accounting terms here to do with your profit & loss statements. We're talking about Gross Profit & Net Profit; which we'll assume you understand the difference. A lot of people concentrate on Revenue & ...
Best Practices : Cashflow is King (5)
Tuesday, December 21st, 2010 Posted in best practices | Comments OffBusinesses do not go out of business because they are making a loss - they go out of business because they no longer have the cash to meet their obligations. The main point about this article is to highlight the various ...
Best Practices : Make Friends (4)
Thursday, October 14th, 2010 Posted in best practices | Comments OffThere is a lot of reasons why you want to make friends, some prosaic, some highly practical but here's the most important few in my view. An Ear to Lean On Being an entrepreneur is a lonely job. A lot of your ...
Best Practices : Plan, Plan, Plan (3)
Friday, September 17th, 2010 Posted in best practices | Comments OffWhen it comes to running a business, you'll find that many business consultants / teacher recommend putting together a business plan. There's a very good reason for this - it enforces a structured methodology for reviewing threats & weaknesses in ...
