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I often hear business owners referring to succession planning and exit planning as though they’re interchangeable terms. While similar, the differences between a sale, a succession, and an exit are significant. Each one has a different end goal in mind. Understanding the differences and how they work together is critical. That’s why today’s entry is […]
Succession Planning vs. Exit Planning: The Difference is Critical Read More »
People crave routine. There’s security in the normal patterns of our lives. That’s why change can be difficult to accept. Even when it’s for the better, change disrupts our patterns and our routines. Rejecting change is almost human nature. That’s why implementing new policies, procedures, systems, and processes in your business can be difficult. If
Employee Buy In: 5 Ways To Turn Critics Into Advocates Read More »
Business owners have to be adaptable. As much as we like to plan and strategize to reach our goals, sometimes things occur outside of our control, making it necessary to change course. It’s as much a part of business as it is life. So, when it’s time to change direction, how do you develop a
How to Build a Pivot Strategy for Your Business Read More »
The Chase Ink Business Premier Card is Chase’s fanciest business card yet. Is it too much for your needs, just right, or not enough? Learn about Ink Business Premier’s rewards, perks, and fees to decide for yourself. The post Chase Ink Business Premier Card Review — Is It for You? appeared first on Money Crashers.
Chase Ink Business Premier Card Review — Is It for You? Read More »
Rosalie Murphy writes for NerdWallet. Email: rmurphy@nerdwallet.com. The article How a Business Can Give an Applicant With a Record a Fair Chance originally appeared on NerdWallet. https://www.nerdwallet.com/article/small-business/fair-chance-hiring #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation
How a Business Can Give an Applicant With a Record a Fair Chance Read More »
Lisa Anthony writes for NerdWallet. Email: lanthony@nerdwallet.com. The article Is a Hybrid-Remote Workplace Right for Your Small Business? originally appeared on NerdWallet. https://www.nerdwallet.com/article/small-business/hybrid-workplace #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp
Is a Hybrid-Remote Workplace Right for Your Small Business? Read More »
Owning a family business is as much a part of the American dream as having the house with the front porch swing and white picket fence. It’s a fine dream to have, and for many, it can be a reality. However, owning a family business is hard. You’re dealing with all of the normal problems
4 Pitfalls of Your Kids Taking Over the Family Business Read More »
Recession. More than likely, the mere mention of that word elicits an emotional response. It could bring up feelings of dread and panic, as it does in most people. However, for the savvy business owner, the thought of uncertainty in the economy should signal opportunity. As Warren Buffett once said, “Be fearful when others are
5 Ways Your Business Can Benefit from Economic Uncertainty Read More »
As entrepreneurs, we understand the need for marketing. However, we don’t always understand how we should market our businesses. Marketing is a different animal than the other areas of business. It operates by a different set of rules that can seem like they have no rhyme or reason. As a result, we’re often left frustrated
Create Raving Fans by Taking the FIT Approach in Marketing Read More »
Pricing is a delicate subject. If you set your pricing too low, your margins will suffer, and the business won’t flourish. Conversely, customers might choose to look for more affordable options if they’re too high. How you set your pricing can ultimately, influence every part of your business. But sometimes it’s necessary to increase your
How to Raise Prices Without Losing Customers Read More »
A Uniform Commercial Code filing, also known as a UCC filing, is a document that lenders use to establish their legal right to assets that a borrower uses to secure a loan. This notice allows the lender to seize the borrower’s collateral in the case of default. UCC filings can cover a specific piece of…
What Is a UCC Filing? Read More »
How’s business? For small business owners, it’s not always easy to know. Sales may be up and you may have recently expanded. You weathered the pandemic but now you have loans to pay off. You’ve invested your hard-earned dollars in the business, but after accounting for loans and expenses, it’s hard to say how much
How to Create a Balance Sheet for Your Small Business Read More »
Most small business owners face incredible competition. Everyone is competing for a share of the market, and once they have it, they compete to expand that share. Yes, friends, it’s no secret that the world of business can be cutthroat. It’s not for the faint of heart. To succeed, you must have a competitive drive
Why Should Small Businesses Avoid Price Wars with Competitors? Read More »
Getting new customers is a top concern for most small-business owners — and the solution may be in the palm of their hands. Social media is one of the main ways customers find small businesses, but only a fraction of business owners are actively invested in growing their social media presence. A new NerdWallet study…
The Do’s and Don’ts of Using Facebook to Drive Business Sales Read More »
One of the most rewarding (and sometimes, frustrating) aspects of business ownership is people. Assembling a team of people with very different personalities and skill sets is challenging. Adding to that challenge is the fact that your team must also be able to get along with one another and be aligned with your corporate culture
How to Keep Good Employees Happy – 5 Retention Ideas Read More »
Selling your business is one of the biggest decisions you’ll ever make. It determines the futures of you, your family, your team, and their families. Beyond merely considering the financial side of things, you must also think about how a business sale will affect you emotionally. You’ll need to ask yourself questions like, “What will
When Is the Best Time to Sell My Business? Read More »
One of the most challenging aspects of business ownership is people. Each one has different skills, needs, and personalities. As a business owner, it’s your job to put them in the places that make the best use of their abilities and fulfill their needs while mixing personalities that may, or may not, be the best
Not a Good Fit… What to Do When You Hired the Wrong Person Read More »
Merchant cash advance companies provide you with an upfront sum of capital that you repay using a percentage of your debit and credit card sales, plus fees — otherwise known as a merchant cash advance, or MCA. Generally, you’ll want to consider all other types of small-business loans before turning to an MCA because this…
5 Best Merchant Cash Advance Companies for 2022 Read More »
Business owners must be adaptable and creative to keep up with consumer trends, changes in business, and the demands of the economy. Sometimes, that means discontinuing a product, service, or market offering. But it may not always be easy to decide when to cut a product offering. Today, we’ll measure things like consumer demand, cost
When Should You Phase Out a Product or Service? Read More »
Gas inflation has broken records at a dizzying pace: In June 2022, the national average gas price hit a high of more than $5 per gallon, according to data from the U.S. Energy Information Administration. Simultaneously, the Consumer Price Index, which measures how the cost of consumer goods and services changes over time, saw its…
5 Ways Small Businesses Can Offset High Gas Prices Read More »
