So You're Sitting Around the House and You Decide..I want to....

I got it...I think I'll build a small business being a consultant/trainer for people who want to build sand castles!

Yep, here's someone else who figured out how to make something most of us never thought of into an interesting small business.

Read Here...

Time to start thinking, maybe a trip to the beach would help.

Good article on getting work done - 7 steps to Better Personal Productivity

These ideas for getting more done make a lot of sense to me, I think I'll keep them handy so I can stay on track for the big projects. I've done #3 successfully and I've victimized myself on #6.

Read the article here.

When I first got into the workforce I had a boss tell me, the distance between good and great is not as far as we like to use for an excuse. I've always tried to remember that.

Business Owners...Save Your Life...Now!

This post is a bit in left field for me but I ran across this study that is compelling and struck a nerve with me. Business owners often have way too much stress in their lives and the demands of the business can cause them to ignore their personal health while they slave away at keeping their business healthy.

Here's an article on how meditation can dramatically improve heart health and even save your life...and I believe it! Think about it.. 50% reduction in heart attacks.

Read Article Here

20 minutes twice a day to save your life? That's a great investment.

I am going to start this program and I'll let you know my progress. I hope you decide to try it, please let me know how you do.

Hmmm...Bad news for road-side businesses?...The tax man wants your customers too!

At least someone in government thinks having government employees running gas stations and C-Stores is a good idea..... I have my doubts..

Here's a story on a politician trying to reverse a 50 year old law that prohibits the government from setting up retail businesses on the interstate highway system.

Read Here..

Another example of why Buy Sell Agreements are so important

This may be an extreme example but the fundamentals are in many business problems we see on a regular basis.

Just because your business partner is your spouse it doesn't mean business judgement should be suspended.

Read about the Los Angeles Dodgers bankruptcy soap opera here.

Why are Entrepreneurs Better for the Economy than Bureaucrats?

Entrepreneurs, "My business will lose a trillion dollars this year if I don't do something. I'm cutting back on everything right now!"

Congressman, "We'll have a trillion dollar budget deficit this year...we need committee meetings for the next 8 months."

I rest my case.

Time to Look at Smart Growth for Your Small Business?

Business owners often get caught in the squeeze between seeing opportunity to grow but not having the resources to hire people or get more space. Managing a small business needs to be a creative process.

If you find yourself in this position (and if not now you certainly will if you grow) spend a few minutes looking at a 3rd party fulfillment service. Think of it as an expansion that you can make without hiring people or signing a big lease.

Take a look here. 

What Does Patricia Kluge Bankruptcy teach us about business ownership?

A messy business failure can always be learned from. The Patricia Kluge bankruptcy has lessons for small business owners with partners, both known partners and unknown partners.

I once heard a wise man say, "Pick your business partners twice as carefully as you pick a spouse..because a spouse can only take half of what you have."

If you are going into a partnership in a small business make sure you set up the proper buy/sell agreements so that you don't wind up with a partner you don't want. How could that happen?

You and you partner are 50/50 with no buy/sell agreements in place. You've known your partner since high school and trust him completely but..... after you two are in business he goes thru a divorce and his wife winds up being your 50/50 partner. Now what? But wait it could get worse...she remarries and now you have another partner, kind of. You get the picture.

Get your buy/sell agreements in order before you go into business with a partner. A good business attorney can help you avoid a terrible situation, one which we see way to often out in the real world. You'll even find businesses for sale solely because of partnership issues that weren't planned for at the beginning and now selling the business is the only way out.

Here's a good video post regarding buy/sell agreements.

Uncertain Times, Reason to Act or Reason to Wait?

I am often asked "when is the best time for someone start a business?". As you might imagine, the answer is different for everyone and even then, the answer is never 100% evident.

If you wait until the risks are minimal the time might may never come, if you leap when the risks are huge your chances of success are reduced. So what to do.......................

My advice is to make sure you have thought about the opportunity and the risks. Knowing that you can never really quantify the risk. Here are a few questions:

• If the business takes a year to get going what happens?
• How much of my own money am I willing to risk?
• How much of others people money am I willing to risk?
• Am I as smart as I think I am?
• Do I have a bullet-proof plan for the first 6 months? If not, why not?

The last item is critical, if you have a bullet-proof, well thought out plan for 6 months...and you can execute that plan, your chances of success go up dramatically. The reason is simple. A great and accurate 6 month plan means you know enough about your market and your customers to give you time to adjust to changes. The ability to adjust is an essential survival skill in business.

If you really want to start a business, focus on a well thought out 6 month plan. Review it with people who are in business, be honest and do your homework. If you've done all that and the opportunity still looks good...jump in..and welcome to the world of the entrepreneur.