When it comes time to sell your business, you’ll receive a check. This check is the icing on the cake of all the blood, sweat, and tears that you poured into your business during your time as the owner. The buyer, on the other hand, is going to be writing two checks: the one that ...
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What happens when your reliable supplier becomes less reliable? When your supply chain experiences natural disasters, economic issues, or political strife, you’re stuck with no stock and a horde of customers expecting their products to come in. Supply chain diversification reduces the risk of your company suffering along with your supplier.
It’s not just a ...
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Every small business owner worth their salt knows that keeping a constant eye on their cash flow is an important part of keeping their business running… What they may not know is that striking the balance between growth and sustainability is the key to business longevity.
Defining Negative and Positive Cash Flow
Cash flow in a ...
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Referrals are a critical part of running a small business. Word-of-mouth, online reviews, and casual recommendations add value to your company. In a world where scamming and conning run rampant, humans have developed the natural inclination to seek the opinion of trusted friends, family, and reliable online sources when making a decision.
Knowing where you ...
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In the small business world, even a temporary cash flow shortage can result in major problems. With razor-thin margins and the constant financial demand of running a business, it should come as no surprise that 29% of small businesses close due to running out of cash. A whopping 60% say that cash flow contributed in ...
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Adaptation in the Amazon age can seem to be a behemoth of a task. With Amazon pulling in $1 billion in sales on its best day last year, for a whopping $141.92 billion in total sales in 2018, brick and mortar stores are left shaking in their boots. Even giants like Wal-Mart are struggling to ...
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Behind every successful business is a team of talented people who are passionate about what they do. In the world of startups, where 30% fail in the first two years and 66% in the first ten, a powerful team is imperative to the continued viability of the business. When hiring new employees in a start-up ...
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Taxes are complicated enough for an individual. Adding in the additional complication of owning a small business can cause stress, anxiety, and concern over whether you’re fulfilling all of your tax obligations.
Additionally, a large tax bill can take a toll on the razor-thin profit margins that small business owners often contend with. Your small business ...
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Though it’s only October, there’s no denying that the new year is coming swiftly upon us. Soon enough, business owners will be wrapped up in the whirlwind of the holidays. While spending time with loved ones is important, so is strategic planning for next year. Getting a head start on evaluating your business will let ...
https://catalystecr-media.s3.us-east-2.amazonaws.com/wp-content/uploads/2018/10/06062838/new-years-blog.jpg12801920Lori Moenhttps://catalystecr-media.s3.us-east-2.amazonaws.com/wp-content/uploads/2019/06/06062745/main-logo-300x138.pngLori Moen2018-10-11 13:20:142019-03-12 09:27:37Strategic Planning for the Upcoming New Year
As you move up in your career, the cognitive abilities that you need to possess increase. Everything from your ability to handle conflict to your creativity will have to evolve along with the responsibilities you’re asked to take on. Strategic planning is one of the most invaluable skills that you can develop. It allows you ...
