Reader Scott Shipley wrote in with a question that I bet lots of people can identify with: a small town store that would like to get out of the business of extending credit to customers. “My mom runs a general store in a small town of about 350 people in Southern Alberta Canada,” Scott said. “For…
Implementation. Execution. Basics. A friend and I were talking about essential concepts. They are critical to your business, but they are not exciting. They are in fact boring. These boring ideas determine whether or not you’ll succeed in business or anything, really. My friend said, “Here’s a quick list that comes to mind: * execution…
InnovationLab helps rural businesses in Sonora, CA Guest post by Greg Falken Tuolumne General Hospital opened its doors in 1849, serving miners in the gold fields of California. By some accounts, the town of Sonora – now the county seat – was founded to address the miners’ urgent need for health care. TGH had six…
Buying a business can be a great way to get started. You already know if the business can make it, plus you already have an existing market base who know you exist. Before going too far into examining the business, you, as the prospective owner, need to consider what is prompting this decision to buy….
I hate surprises in my liquor store business. “Oh, no! We’re almost out of sacks!” “We need to come up with money to cover the insurance payment!” “Why didn’t you remember to order the Oktoberfest last month?!” No one likes surprises like that, so I started using a perpetual calendar. Hanging above the current…
Going into business is a huge commitment. It is a commitment of money, time and mental stamina. Yet for all of the commitment that a business owner might put into it, he or she has no guarantee that any small business will succeed. Achieving success is the goal, but finding it is the challenge. Besides…
Each year, there are a few standard end-of-year tasks to complete. Right now, commit time on each Friday during January to work through the checklist until you are all finished. Count your inventory. If you sell or make products, take an inventory of all products or raw materials on hand at the turn of…
The 2015 standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be: 57.5 cents per mile for business miles driven 23 cents per mile driven for medical or moving purposes 14 cents per mile driven in service of charitable organizations The business, medical, and moving expense rates…
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