They say that very few people change until events cause the lack of change to be more painful than practicing the same habits. This is not only true when it comes to personal habits but in the world of business it holds just as much validity.

Take the 2008 and 2009 financial crisis, for example. Along with a catastrophic downturn in the economy, businesses took the opportunity to lay of millions of workers and there is a high degree of likelihood that many of these jobs will never again return. As technology improves, fewer and fewer workers are needed in certain fields but many people are holding out. They’re hoping that one day, as the economy improves, their job will return and they can live as they once did: relying on another company to provide their livelihood.

But the now unemployed aren’t the only ones with this problem. Recent college graduates are busy hunting for the big company that will give them the job that they worked so hard to obtain but as many have found, the jobs, as they once were, aren’t out there anymore and all they have is a college degree, school loans, and a low paying job that has nothing to do with the field they studied. Continue Reading »

It used to be the case, that to use any sort of test equipment, would cost I great deal. These days however it is possible to get these specialist pieces of technology without breaking the bank. Items such as a thermal imaging camera or a power analyzer can be hired out to a business or otherwise to check if your building is efficient. They can also precisely check whether it is using too much power or leaking heat from poor insulation or gaps in windows and doors. Here is a simple list of reasons why it might be better to hire the equipment, rather than buying them.

1. Save Time With Quick Delivery Continue Reading »

We’ve all heard of serial entrepreneurs. It’s the sexy side of owning a business where the person already went through the process of making a ton of mistakes and has found themselves creating a business, growing it, selling it, and starting another.

The facts are that most entrepreneurs don’t fall in to this serial category. Most have dreams of starting a business they enjoy and holding on to it the rest of their life resulting in a modest income. They function well enough to see their dreams realized to some degree but they make many of the same mistakes year after year causing their great idea to stop short of its full potential. What are a few of those mistakes and how can you avoid these to make your business even better?

Focusing on the Unimportant

Have you heard the newest social media craze? Pinterest is the subject of more small business articles than we all need because Pinterest, like most social media, takes up far too much time for far too little reward. How many customers did you gain as a result of the 6 hours you spent posting to Twitter last week? Continue Reading »

The weather sure is nice now.  In Chicago we are looking at 70 degree highs through next week.  It is March, btw, not June… But everyone has converted into summertime creatures: suntans, swimming pools, barbecues… and probably don’t care too much about starting a business.  Let’s enjoy the great weather now and maybe we’ll think about starting a business next fall.

Those of us in the business opportunity business, i.e. business recruiters, know that this is yet another excuse.  It is nothing terribly unusual, everyone has an excuse for not wanting to start a business.  And perhaps the excuse is a good one.  One thing I do know though: if suddenly you realized that you could sell tons of a particular product, would you walk away or exploit it as much as possible?  How about this one: If you won the lottery, would you decline? Continue Reading »

Starting your own company is an exciting venture – it means working for yourself, making your own decisions and determining your own hours! But as thrilling as this is, there is lots of planning and preparation to be done before you kick-off. You’ll need to set goals, do some competitor research and plan your finances. You should also think about branding and marketing and look into business software and office space and staff.

1. Goal & Vision

Goal setting is one of the most important things that will help structure and drive your new business. You’ve had a great idea that you’ve decided to go ahead with as a business – so what’s your vision for this company?  What do you want to achieve on a financial level? A business level? A personal level?  Always remember to think about your audience as well – how does your service or product bring value to your customers? Continue Reading »

There are some well-known rules when it comes to how we manage employees and those rules are centuries old. The rules involving time on the job go something like this: “As an employee of my company you have to be on site for a certain amount of hours that start and end at the same time each day. Sometimes those hours might change but in most cases, it is to benefit me more than you. When you’re at work, you should do your work in compliance with how I specify and when you take a break, it is for a set amount of time normally at the same time each day. “

In our years as employees we almost certainly fell under these types of rules and for some businesses like manufacturing plants, food service, and many others, the rules make practical sense. Do they make sense for all businesses and most important, do they make sense for your business? Continue Reading »

That, by the way, is a line from “The People Versus Larry Flint” with my friend (not really) Woody in the starring role.  Great movie.  May make you wonder what he was talking about.  Well, Larry Flint was friggin’ nuts.  And friggin’ brilliant, as a creative person.  He had a vision.  He knew what the regular guy wanted to see in a dirty magazine, and he delivered it.  Sure, there were times he tried not to be the pervert he was and kind of lost his way.

Now would I put out a dirty magazine?  Probably not.  I don’t really think the world needs another Hustler or Playboy.  And I do think seriously about what I’m putting out there in the world.  I do think about the ethics of my product, my packaging, and my customer service.  I do think about who I’m taking money from and the value I give in return.  It’s important to me not to be a problem of any kind if possible.  I don’t really want to think about what Hustler magazine is putting out there in the world, but it’s not my cup of tea and I would really rather stick to the high road rather than the low one.

I mean, the guy got shot and was paralyzed.  He went to jail multiple times.  The love of his life died of AIDS.  Not a good life.  Although, hey, he made a lot of money.  But is that really everything?  I guess his story was also interesting. Continue Reading »

Small businesses are increasing in number dramatically. The obstacles are being removed on a daily basis and the economic situation is actively encouraging an entrepreneurial outlook. Higher petrol prices, a shortage of jobs and the rising cost of living are just a few of the factors that encourage people to start out on their own. The cost of starting a business is also decreasing as governments worldwide try to stimulate new business.

All that people need to start a business is an idea and a computer with internet access. From there, a business can be born and the expansion of social media channels make this more achievable all the time. Social media is allowing businesses to advertise without huge costs driving them out of the market. But many small businesses are still failing to cash in on the opportunities afforded to them. Having a business phone system and a great product is one thing, but getting your message across effectively is another issue entirely. Here are 5 essential elements that every business needs in order to have a hope of success in a competitive market: Continue Reading »

If you’ve never heard of the time trap, it’s time to put this problem on your radar screen. Think about your average work day. If it lasts roughly eight hours, how many of those eight hours are you engaged in activities that move your business forward? How many of your daily tasks are directly benefiting your business?

Administrative Tasks

Nobody would say that administrative tasks aren’t important. These include billing customers, paying vendors, preparing business documents, emptying the trash, and cleaning your office or store. These are essential business tasks but are they really moving your business forward? Continue Reading »

Inventory management is one of the most important business function a company can master. It is not as “sexy” as marketing or social media management, but its consequences can be either disastrous or fortuitous. For proof, look to the world’s most successful company, Apple. The tech giant was in a heated battle with Samsung for the title of “Biggest retailer of smartphones in the world” throughout most of 2011. Apple had to rely heavily on its iPhone 4GS while Samsung had a huge cadre of smartphones to sate customer’s tech appetites. Like a great basketball game, the competition came down to the fourth quarter. For the first nine months of the year, Samsung had maintained a slim lead over Apple. But in the fourth quarter Apple was able to outsell Samsung to take the title and post record profits for the quarter. Continue Reading »