Planning & Advisors

Entrepreneurs approach the business planning stage differently.  Some need to cross every “T” and dot every “I” — not a bad approach if you’re seeking financing from sources outside yourself.  Others find are a little more relaxed about it.  As Harry Karanja, a web cafe entrepreneur in Nairobi, Kenya, described his thought process: My preferred […]

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After a couple of weeks of strategic planning, I’m once again ready to put first things first. Good thing, too, as the New Year is upon us. It was a conversation with Joyce Bone, Founder & COM (Chief Operating Mom) of MillionaireMoms.com, a few months ago that made me realize that I had gotten off […]

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Now that tax season is done done done, (yes, I filed on extension), I wanted to give a shout-out to the people who made that process relatively painless: my accountants.  They have certainly saved my bacon on more than one occasion. By keeping a watchful eye and working with me proactively, we were able to […]

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Q.: We are setting up key man insurance policies, and one of the spouses asked whether the business could pay for the family’s term life insurance policy as a benefit from the business.  Can a partnership use a partner’s family term life insurance policy as a business expense, with the intention of using the policy […]

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Follow these tips to select an advisory board that will serve your business well. The premise is simple and time-honored: Two heads are better than one. First-time entrepreneur Kris Appel recognized this early on when she founded Encore Path Inc. in 2006 and launched her first product, Tailwind, which helps stroke and brain-injury survivors recover their […]

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One of the ways that entrepreneurial smaller firms can achieve international growth is by forming strategic partnerships with the subsidiaries of multinational corporations.   As Dr Shameen Prashantham of the University of Glasgow Business School points out, there are benefits as long as you can find ways to recognize the opportunities and engage the multinational proactively.  But there are […]

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What if you found out about a huge untapped market for your products and services . . . a market of at least $200 billion?  A market eager to find reliable women-owned businesses to work with?  A market that has regular needs?  A market unlikely to disappear anytime soon?  Wouldn’t that market be worth a […]

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Post image for How to Create a Mastermind Group

Mastermind group dynamics are like baking bread: while the process may be straightforward, it takes a delicate touch to make sure that all of the ingredients are in the right proportion and that the dough is kneaded properly. What’s needed to get started?  A group of people who are willing to make a regular commitment […]

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Sometimes, a break from routine is a good thing. Had Ari Weinzweig not allowed his business partner, Paul Saginaw, to drag him away from his normal business routine, the Zingerman’s Deli of Ann Arbor might not have reached its $20 million target ahead of schedule.  Saginaw impressed upon Weinzweig the need to step out of […]

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Post image for Why Your Business Needs a Board

Leadership expert Ken Blanchard once said, “Feedback is the breakfast of champions.” But if you’re working solo (or in a small company), where will that feedback come from? Small and solo businesses can get feedback in several ways: A Board of Directors. If there is more than one owner in your company, you have automatic […]

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