Your company is losing money but you can't figure out what's wrong. Here's how to properly use your metrics and goals at your company. One of the most difficult challenges business owners and managers face is processing conflicting information. Some business metrics simultaneously show that a company is doing well while others raise red flags. These diverging signals could be caused by faulty metrics, poor tracking, unclear goals or perhaps all of the above. But how is an executive supposed to … [Read more...]
3 Lessons From Gordon Ramsay’s Kitchen Nightmares
Gordon Ramsay is one of the world's most renowned chefs, but also a prolific entrepreneur. Here's what he can teach us. I don’t watch much television, but from time to time, there are programs that manage to capture my attention and keep it. Gordon Ramsay’s Kitchen Nightmares is one such show, and it’s one I enthusiastically recommend to small business owners. Ramsay is one of the world’s most renowned chefs, having earned a total of 13 Michelin stars—an extraordinary feat. While he is mainly … [Read more...]
The Online-Only freelance Workforce Is Ready For Your Business
An online-only freelance workforce is quickly becoming a permanent part of the economy. Should you consider taking part? Our economy is going through transformative changes and many of the principles that held true for decades about work are no longer valid. One of the most recent changes taking place is the rise of the online-only freelancer. These are people that work independently as contractors and who obtain their clients mainly or exclusively through online channels. More importantly, … [Read more...]
Why You Should Take Advantage Of The New Free Trade Agreements
The US government recently enacted several new free trade agreements that had been stalled for years. Take advantage now. Small businesses need to take advantage of every opportunity to increase sales. In a rare display of bipartisanship, the President and the United States Congress worked together to enact several free trade agreements that had been stalled for years. These agreements will be implemented over the next few months and will give U.S. businesses direct access to markets—in South … [Read more...]
What You Can Learn From Borders’ Bankruptcy
A tragedy for one business can translate into an opportunity for another. What came out of the collapse of Borders' Bankruptcy? According to the Small Business Administration, over 50,000 companies across the country go out of business each month. Given current economic conditions, that number has probably been much higher in recent months. What is a tragedy for one business person translates into an opportunity for competitors that have cash and are interested in purchasing the assets of … [Read more...]
The Impending Death Of The Light Bulb And Why You Should Care
Don't wait for new energy regulations to require you to phase out the light bulb. Here's why you should do it now. For over a century, the standard, inefficient incandescent light bulb has been the main source of indoor light for buildings around the world. This invention revolutionized illumination—something as simple as having light in your home at night without risking a fire was now possible. But, like all inventions that were once considered revolutionary and are subsequently discarded, … [Read more...]
Apple’s Latest Product Launch: Why You Should Manage Expectations
Apple was a victim of its own success. Here's what their recent release can teach you. Oct. 4, 2011 was a date that the entire world anxiously awaited. That’s the day that Apple set to announce the launch of the next iPhone which is one of the fastest-selling and most-profitable products ever created. With over 30,000 daily activations, iPhones represent 28 percent of all mobile phones in the U.S. and account for 40 percent of Apple's $65 billion in annual revenues. When Apple announces the … [Read more...]
How Not Keeping Up With Technology Trends Led To Kodak’s Demise
Kodak dominated the photography and imaging industry for decades. Mike Periu investigates why it so quickly saw its demise. In its day, Kodak was a revolutionary company. Founded 119 years ago by George Eastman, the Eastman Kodak Company invented the modern photograph and dominated the photography and imaging industry for decades. This dominance was based on a combination of proprietary technology, strong intellectual property and aggressive marketing. The company was a cash generating … [Read more...]
Where To Keep Your Money Safe
During these volatile economic times, there are still ways to make good investment decisions. Here's how. This year has been very volatile when it comes to money. Stocks, bonds, currencies and commodities have seen significant price increases, decreases or both. It seems as though every week a new crisis—real or imagined—is making news around the world. This news leads to as much as tens of billions of dollars a week being transferred from one investment type to another. It’s enough to give … [Read more...]
Private Equity Firms Are Cashing Out
Private Equity Firms Are Cashing Out - Should You? Is this an early warning for business owners to sell? Canaries used to serve as an early warning system for coal miners. Before the existence of computerized monitoring systems, coal miners used canaries to monitor the buildup of toxic gases. These tiny birds are far more sensitive to methane and carbon monoxide than humans. Male canaries also love to sing. When the canaries in the mine stopped singing that meant they were probably dead and … [Read more...]
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