:: Personal Credit Impacts Small Business
Unlike the CEOs of major public companies, whose
personal financial situation has little effect on their
companies borrowing, if you are a small business owner,
your personal credit is a major factor influencing your
companys access to capital. The power of personal credit
scores to predict small business loan repayment, the legal
structure of many small businesses, and small business owners’
use of personal guarantees and personal borrowing to finance
business operations, all link small business owners personal
credit to their companies’ access to capital.
Many, if not most, lenders will look at your personal credit
score if you are a small business owner seeking a loan for
your company. A 2006 report written for the U.S. Small Business
Administration found that 71 percent of banks used small
business owner credit scores when underwriting small business
:: Big Mistakes in Small
The successes and failures of others, can provide
extremely valuable information to guide you on your path.
So from my own experience and from the common stories I
hear from being involved with over 4000 small business clients,
I have compiled what I see as the five biggest mistakes
people make when running a small businesses.
:: Have a Clear Termination Policy
Firing an employee is often a manager's most dreaded
It is not only uncomfortable, but if not handled right it
could lead to more than just hard feelings if an employee
decides to take legal action.
Having a solid termination policy in place and following
a few careful steps could help stave off potential problems.
:: Small Businesses On The
Smartphones have become vital for on-the-go entrepreneurs.
Apps aimed at small business owners allow them to pay bills,
update websites, market their companies, reach out to customers
and keep in touch with employees from anywhere. Some owners
say their smartphones makes it easier for them to build
a side business while keeping a full-time job or step away
from the company when needed.
:: How to Rewire Your Brain for Success
The latest neuroscience suggests you can literally
edit your memory. Here is what this big breakthrough means
:: Consumer Education
Consumer education is something many small software
companies tend to overlook. While the benefits of consumer
education may not always be obvious, the fact of the matter
is that educated customers are good customers, and happier
customers. A customer who does not understand an applications
capabilities or features is more likely to experience frustration
with it, making them less satisfied with your product and
also potentially draining your support time.
:: 20 Tools to Outfit Your Small Business
Small businesses need to consider their tech purchases
just as carefully as enterprises do. A single doctor medical
practice must comply with the same stringent patient-privacy
regulations as the largest hospital. Run a two-person bakery
or a small auto repair shop? In addition to tending to bread
and brakes, you still need a solution for managing your
finances and customer information, just like a major retail
chain does. Moonlight as a club DJ? You need to know the
best tech for storing your jams, and what service will help
you quickly recover your data if your storage hardware gets
hosed, just like a Fortune 500 company does.
:: Financial Advice for
Small Business Owners
But there are some smart things that small business
owners should consider doing now. Here’s my top 3 tips:
1. Access Capital Now
2. Engage Rather Than Employ
3. Have a Lean Start-Up
:: 50th Anniversary of Small Business
The Small Business Administration or SBA is celebrating
its 50th Anniversary!
:: Outstanding Leadership
While great leaders do a tremendous amount of thinking,
that thinking happens behind the scenes. In the moment,
in the trenches, when people look to them and need them
most, they act: swiftly, decisively, and confidently.
Want to become a truly outstanding leader? Work hard to
do these eight things naturally, automatically, and instinctively.
:: 15 Ways to Find More Time To Think
Most of us are not that talented. We could use
a little white space in our lives that we can fill
with new ideas.
Lets talk about the 15 ways you could carve out more time
to think, ideas suggested to me by some of the most successful
entrepreneurs I know.
:: Discounting Tips
Discounting is a tried and true way to attract
business, both satisfying your customers and increasing
your profits. However, there is more of a science to discounting
than one might initially think. Understanding this art is
critical to offering the most successful discounts and obtaining
:: Tips for Branding
Years of experience helping small businesses develop
and market engaging brands have taught me some valuable
lessons about which strategies are most successful.
:: Small Business Awards
Want to continue building your skills and those
of your team? What about networking with colleagues,
peers and potential customers?
Alright, we know you want to get involved and not stay
stagnant. So we have created this handpicked
list of upcoming small business events online and also in
the real world as well as relevant awards programs.
:: Avoid These Five Common Small Business
Keeping the books is one of the more challenging
aspects of running a company. It is also one of the most
important. Accounting errors can be damaging even fatal
to businesses, but mistakes are surprisingly common. Here
is how to avoid five of the most common accounting mistakes
that plague small businesses.
:: Simple, Elegant and Brilliant
Check out these simple but brilliant product designs!