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Have Chambers of Commerce Jumped the Shark?

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Local chambers of commerce seem to have lost their relevance in today's business world. Here are 3 problems they need to overcome--fast. For some time I’ve been thinking seriously about local chambers of commerce and their role in today’s business world. For centuries, chambers served as an essential member of the local business community, providing valuable advice, relationships and access to government officials. The first local chamber in the U.S. launched in New York in 1768 and was … [Read more...]

How Online Risks Could Destroy Your Business

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Your business probably has insurance against accidents and natural disasters, but when it comes to everyday online risks, you're on your own. The Internet is as risky as it is necessary to your business. Global e-commerce revenues surpassed $1 trillion last year; 144 billion emails are sent each day; more than 1 billion people are actively engaged on Facebook, and the majority of data collected for business purposes is relayed over the Internet. But the Internet has always been fraught with … [Read more...]

Selling to the Poor: A Trillion-Dollar Market Opportunity

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Selling products or services that help poor people make ends meet is a trillion-dollar market. But is this good business or exploitation? Common sense dictates that if you want to have a successful business, you should sell to customers who can afford to pay you. Typically, the more money customers have, the greater their ability to pay for goods and services. But a number of companies have taken that conventional wisdom and turned it on its head. Selling to the poor may be the greatest … [Read more...]

The Sneakiest Way to Make a Fortune

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Opt-out sales generate a whopping $2 billion in revenue every year. It's a totally unethical practice ... yet completely legal. There are two key parts to any sales process: convincing the potential customer to buy what you're selling, and then getting paid. What if there was a way to eliminate both of these steps from your sales cycle? What if you could just go ahead and send something to somebody and automatically get paid for it? That’s exactly what some companies are doing, the sneakiest … [Read more...]

Will the End of the Economic Stimulus Hurt Your Business?

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The Federal Reserve has injected trillions of dollars into our economy, with only tepid stimulus results. Come fall, it will scale back funding. What does this mean for your business? Will the End of the Economic Stimulus Hurt Your Business? Federal Reserve Chairman Ben Bernake and the Board of Governors have a huge problem on their hands. Since the depths of the financial crisis, they have been looking for ways to stimulate the economy just enough so we have companies willing to hire, … [Read more...]

How to Access the Hidden Cash in Your Business

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Small-business owners may have money trapped needlessly inside their companies. Forget getting a loan; free the cash you already have. Access the Hidden Cash in Your Business. Over time businesses can acquire a significant number of valuable assets: manufacturing equipment, transportation equipment, vehicles, office buildings, industrial real estate, retail stores—the list goes on. Even a business with less than $10 million in revenues could easily amass $5 million or more in assets. In most … [Read more...]

Franchise fraud is a rampant problem. Read how one man lost everything so you can avoid the same fate.

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What You Can Learn From a Franchise Scam Victim Franchise fraud is a rampant problem. Read how one man lost everything so you can avoid the same fate. Juan  came to me in a near panic, practically begging me to help him with his failing business. He was working over 90 hours per week; he was receiving excellent performance feedback from his customers; the company providing his sales leads kept sending more business his way; yet the business was broke. He had to borrow against his home just to … [Read more...]

Ready to Retire? 3 Creative Exit Strategies

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Don't expect a white knight to arrive when you're ready to sell your company. Consider your options now, or risk a bumpy retirement. No one lives forever, and eventually you decide it's time to retire. To make this life-changing plan a reality, you need a viable exit strategy. Many business owners are under the impression that when they're ready to sell, there will be plenty of cash-rich buyers knocking on the door. Yet crossing your fingers and praying for a white knight rarely works; you need … [Read more...]

Ocean Of Energy, A Huge New Business Opportunity at the Bottom of the Ocean

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The U.S. is sitting on an underground ocean of energy--and the news is all good for small businesses. We are massive energy users. Last year, the U.S. consumed 95.1 quadrillion BTUs of energy. A BTU, or British Thermal Unit, is the amount of energy needed to raise 1 pound of water by 1 degree or roughly the energy released when you strike a match. Those quadrillions of BTUs didn’t come cheap; consumers and businesses spent over $1.2 trillion on them. Our voracious appetite for energy shows no … [Read more...]

The quiet revolution taking place in energy

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We are massive energy users. Last year, the U.S. consumed 95.1 quadrillion BTUs of energy. A BTU or British Thermal Unit is the amount of energy needed to raise 1 pound of water by 1 degree or roughly the energy released when you strike a match. Those quadrillions of BTUs didn’t come cheap; consumers and businesses spent over $1.2 trillion on them. Our voracious appetite for energy shows no abatement. Even as our cars, homes and gadgets become more energy efficient, there are more people with … [Read more...]