Mike Periu hopes 2012 will bring better days for business. 3 Small Business New Year's Wishes The new year is just around the corner and I couldn’t be happier to bid farewell to 2011. It wasn’t an easy year for businesses—big or small—and its departure won’t be missed by anyone who tried to grow revenues and turn a profit this year. As I get my business ready for 2012, I’m taking the bold step of telling 2012 what I expect from her. Wish #1: Political campaigns where economic growth is … [Read more...]
2012 Financial Forecast – Strategies for Small Business to Prosper
Mike will be giving a presentation at the CHA Conference 2012 Financial Forecast - Strategies for Small Business to Prosper S117- General Session Monday, January 30, 2012 9:00 AM - 10:00 AM Room: 207AB Who Should Attend: All Member Attendees Many small business owners in the art and craft industries have felt the impact of the weak economy. Some economists even indicate the Recession never ended. But what will 2012 hold in store for us? Is the worst over? What can we do to keep … [Read more...]
The Myth: Taking Time Off During Holiday Season
A new study suggests that small business owners will spend this holiday season working instead of resting. Every year, studies show that Americans are overworked compared to our European counterparts. U.S. workers average just 13 days’ vacation a year, according to a recent study by Expedia. Some European countries enjoy three times as many days off. During the holiday season, this difference between U.S. and European workers widens. Most small-business owners do not intend to spend the … [Read more...]
How To Deal With Competing Priorities
Competing Priorities Ask yourself these three questions to prioritize tasks competing for your attention. Dealing with competing priorities is an integral part of being an entrepreneur. Every day we face battles where we have to choose between pricing and quality, family time and business progress and between current profits and future success. We all know it’s impossible to please everyone all of the time. But knowing this truth and acting accordingly are two very different things. Some … [Read more...]
The Grinch That Ruined The Payroll-Tax Holiday
It looks like politicians have forgotten to add a little Christmas cheer to their end-of-year work schedule. The Grinch That Ruined The Payroll-Tax Holiday. December 24, 2011It looks like politicians on both sides of the aisle have forgotten to add a little Christmas cheer to their end-of-year work schedule. Business owners and employees have anxiously awaited legislative confirmation that the current payroll-tax holiday would extend into next year. Both Democrats and Republicans agree … [Read more...]
Get Your Financials Investor-Ready
As you ring in the new year, make sure your financial models are investor-ready with these helpful tips. As 2011 ends, I’d like to make an appeal that will help aspiring entrepreneurs make money. Get your financial model in investor-ready shape before sending it to potential investors. I recently met with a newly minted entrepreneur who left a successful corporate career to launch a company that he believes will disrupt a $100 billion industry. I went over the business pitch and, more … [Read more...]
Why You Should Add A Stress Test To Your 2012 Plan
A stress test will predict how something, whether it's your heart or your business, will react under simulated strains. As the year begins to wind down, many companies are putting the finishing touches on their financial and operations plans for 2012. Regardless of how far along you’ve gotten in your planning, you should consider adding a stress test if you haven’t done so already. A financial stress test has much in common with the well-known cardiac stress test. In both cases, the goal is … [Read more...]
Companies are hoarding cash
Companies are hoarding cash, stake your claim on $850 billion , there are still business opportunities available. You just have to prove your case. The 1,000 largest publicly traded companies in the United States hold a collective $850 billion in cash, according to recent research by REL Consulting. The global working-capital consulting firm compiled this statistic by reviewing financial filings through June of this year. This amount of cash is 6 percent more than last year and an astounding … [Read more...]
living from a barely profitable small business
Is it practical to keep squeezing out a living from a barely profitable small business? Should You Just Get A Job In 2012? The last few years have been tough for small business owners trying to squeeze out a living. Some are now realizing that they really don't have a business, but instead just a very risky job. Business strategist, Carol Roth calls this a "job-business." Of the 21 million small businesses in America, she says 60 percent never earn a profit in the life of the business. In … [Read more...]
Why You Should Reward Average Performance
In our nearly obsessive focus on the exceptional, we have also gone too far in ignoring average performance. When was the last time someone thanked you for doing an average job? Still thinking? Well that’s not surprising. Our culture is designed to reward exceptional performance in both personal and professional settings. If a sales manager achieves their quota right on time and right on budget, the reward they receive is the privilege of keeping their job. To an extent, this is reasonable … [Read more...]
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