Distractions consume productive time and can destroy your business. Learn to curb those things that suck your time. Small-business owners are continually bombarded by information. When is the last time you were able to spend one hour working without a single interruption? It’s unlikely that you can think of one, unless you were working at 3 a.m. Even if you escape to a local coffee house for the day, you can’t avoid distractions. E-mails reach our inboxes 24 hours a day. Instant messages can … [Read more...]
Don’t Underestimate How Much Capital You Need To Grow
Not preparing a proper budget can have catastrophic consequences on your business. How much capital you need to grow? I recently had the pleasure of speaking at the Craft and Hobby Association’s (CHA) Winter Conference in Anaheim, California. The CHA represents small businesses in the craft and hobby industry which together generate around $29 billion in domestic revenues. I was energized by many of the participants who attended my address as they told me about their plans to move forward “full … [Read more...]
How To Increase Productivity And Reduce Your Response Time
Give these internet tools a try to visibly decrease your response time and get back to those who seek your attention. How To Increase Productivity And Reduce Your Response Time About a year ago I made a conscious decision to improve my response time. My inbox was filling up with anywhere from 12 to 20 e-mails per hour and my voicemail was filling up regularly, as I don’t answer the phone while in meetings out of consideration to my fellow participants. (Speaking of meetings, they were taking … [Read more...]
Do not Fall In Love With Your Business
When an entrepreneur is in love with their idea, the obsession prevents a great idea from becoming a great company. Do not Fall In Love With Your Business. People can do foolish things in the name of love and entrepreneurs are not immune to making this mistake. The object of affection doesn’t have to be a spouse; it can be that other loved one in our lives known as the “business idea.” Loving a business to death is more common than most people believe. I recently discovered a book published … [Read more...]
Mike Periu hopes 2012 will bring better days for business.
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...]
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...]
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