As you probably know, if you are going into business, the odds your business will be around in five years are not good. But they aren’t as bad as you may think, either. Approximately one-third of businesses close within two years. At the five-year mark, about one-half of all businesses have closed. We don’t approach […]
What’s Your Resolution for 2016?
Well, here we are at the end of one year and the beginning of another. Welcome, 2016! For many people, this is the day we make resolutions for the upcoming year. Often these hopes are for something in our personal life. Do you also take time to make resolutions for managing your business? And for […]
Getting a Small-business Loan
One of the most common requests I get is to help people access “free money” to help them start their business. Regretfully, my response is there is little, if any, free money available. Instead business owners need to depend on their own personal funds, family and friends, or good bootstrapping. At some point though, most […]
Success Grows Through Retaining Customers
If you’re a business owner, which appeals more: spending $20 to capture a new customer or spending $1 to retain an existing customer? These numbers represent broad averages but reflect reality, according to research. This means developing a sustainable business requires focusing first on building customer loyalty. Every business needs to build its customer base, […]
