How’s this for poor business planning? When someone goes completely broke, it’s almost always because they borrowed money. Ironically, it is not the poor who fall from grace and go broke. This is because generally the poor can’t borrow money easily. It is those with higher income and easy access to borrowing who at most […]
Critical to business planning is the science of financial management. Financial management is all about the source and use of money. I refer to it as a science because whether in business or in personal finance, there are certain rules you must observe in every day financial management. One of the foundation stones of financial […]
Interested in business building online that has limitless income potential? Then get with a reputable internet marketing professional. Forget all the rubbish you see around the internet and on affiliate marketing sites that entice you to follow this or that amazing method and get rich in only a matter of days. The fact is that […]
Business building online is a lot cheaper than doing it in the bricks and mortar world but there are still real costs to outlay. Here’s how it works. In general, these are the steps required to profitably build business online: Build a suitable internet marketing site Communicate with potential customers Build target traffic Induce desired […]
The business building dream is to establish a recurring income stream; one that just keeps rolling in and doesn’t depend on you having to sell your time. At first, it sounds a bit too good to be true but it is possible with a little smart planning. Here are the desired elements of your dream […]
It is true that many iconic business empires around the world were started by entrepreneurial business builders during the depths of recession. About half of the public companies that make up the Dow Jones index began in recession. Why? Because that’s where the opportunities were (and still are)! In recession, entrepreneurial spirit is often borne […]
A big mistake in starting up a business is to get so carried away on a wave of beginner’s optimism that you are lulled into not doing sufficient homework. You start to believe your own advertising to the point where you become convinced that people will come to you and buy your product or service, […]
Another common flaw that I see among those starting up a business is to think in terms of survival only. They measure their success in terms of still being in business in six month’s time. This is a real mistake! Doing things on a shoe-string budget invites shoe-string thinking. Cutting corners and thinking small can […]
When starting up a business, it is common to see inexperienced business starters with no financial management skills, prepared to barter away equity (ownership) in the early days in return for a much needed service. For example: They seek to establish a website as cheaply as possible, even to the extent of offering a e.g. […]
Cutting corners on a lean start up budget is a very common ‘kill your business’ practice. When starting up a business, it is done because of lack and necessity. However, in terms of financial management, it could be something you regret later on. One of the most common examples of corner-cutting that I see is….: […]