In my career as an entrepreneur, I’ve often fooled myself about what’s important and how to build my business. I’d go to work each day focused on results that are easy to see: making a sale, collecting “follows” on social media, tracking the website hits from my online advertising. And sure, […]Continue Reading » →
Archive for the Business Planning Category
You may have heard the term PCI compliance while researching how to accept customer credit and debit cards as a form of payment, but if you’re not quite sure what PCI compliance entails, you’re not alone. Here are some commonly asked questions about PCI compliance, and how it relates to […]Continue Reading » →
Contractors around the country are worried. Regulatory changes to the Fair Labor Standards Act (FLSA) start in December, and contractors want to know if they will have to change the compensation of their salaried employees. The answer to this is a resounding “maybe.” Some comp plans will certainly have to be […]Continue Reading » →
When you’re excited about a new venture, stopping to write a business plan is a drag. When it starts to feel like a burden, many of us quit. Either we venture on without a plan (to certain doom) or we decide not to pursue the new idea at all.
JK Rowling planned her 700-page Harry potter novel on one page of notebook paper; entrepreneurs can do the same with a business plan. So before you write a 30 or 40 page business plan that describes every aspect of a new venture, write one page.Continue Reading » →
Forget “magic number” theories of SaaS business models. Grab this free Excel spreadsheet to find out if your SaaS business will thrive or dive. Includes Churn and GM%.Continue Reading » →
[By guest blogger Mary Bruce] I thought it was a pretty simple question. “What do you want this business to look like in five years?” However, Joan didn’t like it at all. “That’s not a question I can answer. Our market is limited. In order to grow, we […]Continue Reading » →
A Harvard Business Review article (and podcast) called “The High Intensity Entrepreneur” makes this shocking claim: “To be successful, entrepreneurs should wait until they are in their 30’s before launching a business.” I almost dropped my iPod when I heard this. The article actually quotes a study that says most […]Continue Reading » →
A funny thing happened to me during the 5th year of my 3rd start-up: I fired myself. The company continued on, but I walked away. Why? I could say that the company could no longer afford a CFO. (Sales had dipped during the recession, and I was working at half pay.) But that’s just an excuse.
The real reason I fired myself from the company that I helped start has everything to do with being a company owner and nothing to do with working in the company you own.Continue Reading » →