One of my mentors says you should stick with your strengths and outsource your weaknesses.  This means that you and your staff should focus your efforts on your core competencies and if an activity can be performed more efficiently by an outside service without diminishing the quality of the service you provide to your clients, then it’s a candidate for outsourcing.  Here are some examples of work that may be worth outsourcing: Continued - click here >>

Returning from a recent 2 week vacation during which I had to keep up with correspondence, editorial duties, and other obligations that required Internet access, it quickly became obvious that even a standard sized laptop can become a bit unwieldy while traveling.  This motivated me to start looking seriously at the new netbooks, which typically weigh about 3 pounds and are a little bigger than a DVD case (about 9 to 11 inches measured diagonally), and offer significantly improved battery life (some go for up to 6-7 hours on a battery charge) compared to a conventional laptop / notebook computer.   Here’s what I found and how they compare: Continued - click here >>

Unlike an airplane, a business does not have the ability to run on automatic pilot.  In order to catch things that don’t work and increase those efforts that do, you need to keep some kind of record of your efforts.  This goes hand in hand with keeping track of your finances.  Let’s look at how and why these two areas are important to the success of a business. Continued - click here >>

A stagnant business is one that has resigned itself to failure – so to move forward and to build a stronger, more resilient business, every owner needs to focus on change. Continued - click here >>

Are you a business owner or an entrepreneur?  The difference between the two is more of a mindset.  Let’s look at Aaron and Kyle, twin brothers who start a family restaurant, as an example. Continued - click here >>

I hope you have enjoyed most of the topics presented here recently, and that they have been helpful to you in planning or running your own business or professional practice, or in considering your options in diversifying your income.  Today I’d like to touch on how and why you should build an advisory board or team of advisors. Continued - click here >>

Franchise terms vary widely and, even though a franchisor may provide you with an attractive set of financial projections, you may regret purchasing a franchise unless it satisfies these key contractual conditions: Continued - click here >>

Buying into a franchise can be very profitable for you—or a huge disaster.  You can make sure it goes well, by taking the time to thorough research key areas in setting up the franchise.  Let’s examine a few key factors you must consider before you invest: Continued - click here >>

Buying into a franchise can be very profitable for you—or a huge disaster.  You can make sure it goes well, by taking the time to thorough research key areas in setting up the franchise.  Let’s examine a few key factors you must consider before you invest: Continued - click here >>

A walk or drive through any retail section of town will reveal a large variety of small specialty stores. Everything from hats to cookie baskets and shoes to gourmet pasta has found a market.  Entrepreneurs are finding that the ‘newest trends’ are already right under their noses, and underutilized.  Let’s look at this as an investment for a business owner rather than opportunity to become a shopkeeper: Continued - click here >>

Yes, the latest moves by the Fed and other central banks mean that the supposedly safe money market funds are not a very attractive place to park your money.  Here’s why: Continued - click here >>

For some businesses and professions, advertising to the general population works well.  Here we will examine the advantages of specialized, narrowly-targeted advertising, and discuss how this can be a better alternative under the right circumstances: Continued - click here >>

Here are some thoughts about how to prevent your business from taking over your life by including well-selected co-owners: Continued - click here >>

The focus on mega-sized companies in the recent economic bailout and its failure to make funds available to small to medium sized businesses has made private capital more attractive, as an alternative to reliance on bank funding. Continued - click here >>

Until Cristmas Eve you can get one of the leading subnotebook sized computers for only $99.  It’s almost too good to be true, but if you need mobile Internet access, it’s a legitimate deal - here are the details and why you MAY see similar deals in the future, though they might not be this good going forward: Continued - click here >>

Depending on “safe” contracts that guarantee steady income can limit the potential of your business or professional practice.  Here are some thoughts about the role these “safe” contracts can play and what you can ultimately do about them: Continued - click here >>

Here are some ways to set up a dependable and motivated staff for your business or professional practice: Continued - click here >>

Perhaps the first step in starting a new business is putting together a business plan. Staring at a blank page, it’s nice to have a guide to help you get started.   Before we get started, I want to thank Rhonda Abrams, who has written several books on business topics, including Business Plan in a Day.  Your business plan is a powerful piece of writing, explaining your current position, visions for the future of our business, and how you plan to realize those visions.  Not only can it support you in writing your own business plans, or point you towards the areas you should have input when creating a business plan for a project you own, but it can give you an idea of what to look for in other plans.  Here are some tips that can help take the pain out of preparing or evaluating a business plan: Continued - click here >>

Here are some tips that can save you a lot of grief when investing in a company or considering a partnership, alliance, or merger: Continued - click here >>