Maintaining an adequate cash flow is one of the greatest challenges of entrepreneurship. Every business is different and industry norms vary widely but every business requires positive cash flow to operate on an ongoing basis. Following are some of the most common reasons that companies struggle with cash flow and some universal solutions and best …
Want to Succeed as an Entrepreneur? Here are 8 Survival Tips
You may feel that success as an entrepreneur depends on hard work. However, hard work alone is not enough. If you want to be an entrepreneur, you need to know the basics of survival. Find a Mentor Every entrepreneur needs someone to lean on. Find yourself a mentor to whom you can talk about your …
Entrepreneurship and Innovation: Creating a New Business Model
If you feel that existing business models are not going to work for you, create your own. Business model innovation can give you the competitive edge you need for success. You can develop such innovation using the principles of a straightforward business structure. Designing Your Business Model Designing your innovative business model simply requires a …
Are These Five Problems Preventing You From Selling Your Company?
While most business owners have a dream of eventually selling their business, the reality is that most of them will never accomplish this. According to BizBuySell’s Insight Report, only about 4-5% of companies are sold each quarter. Here are five reasons that you may have difficulty selling your company. Not Finding the Right Buyer In …
How To Implement ERP Software
Enterprise Resource Planning software (ERP) is an invaluable addition to your business. It also presents some significant challenges that many business leaders are unprepared for. While the benefits of ERP software are tremendous, it requires a substantial commitment of time, planning and financial resources. ERP Software Research The first step is research. You need to …
How to Embrace Crisis as an Opportunity for Growth
The shock of crisis is nothing new. Anyone who expects things to stay the same forever obviously hasn’t paid any attention to history. Good times are followed by bad times and good times again. Booms and busts are eternal in free market economies but crises don’t affect everyone equally. Some people drown in a crisis …