In most small-business startup manuals, you, the owner, are encouraged to define your audience. While a great early step, it often is done incorrectly. The instructions ask you to define your customers or potential customers in terms of: What they like to do Where they gather What they buy What drives them Where they live […]
Should Small-business Owners Trust Their Judgment?
How often aren’t we told to “trust our gut?” You see this comment made often for people starting a small business or when small-business owners need to make an important decision. Yet a recent article from Entrepreneur challenged this and indicated that this idea may be a myth. So who do you believe? Which view […]
Small-business Owners and Inventors: Each Use Different Skills
Building a small business and developing an invention take different skills. I was reminded of this when I read David McCullough’s book, “The Wright Brothers.” Inventors are interested in the development of the idea. They are not put off by trial and error. Business owners are focused on solving a consumer’s problem and doing so […]
Family Businesses in the Economy
You will find a family business in one out of every 10 households. Family businesses contributed over $10 trillion, by one estimate, into our U.S. economy. Family businesses generate over 50% of U. S. business revenue. Family businesses employ over 50% of the U.S. workforce. Do you get a sense of my topic this week? […]