Category

Entrepreneurship

Avoid These Red Flags That Can Trigger an IRS Audit

Avoid These Red Flags That Can Trigger an IRS Audit

By | Business Planning, Entrepreneurship, Small Business Operations

As a small business owner, you have enough on your plate already without worrying about how to defend yourself should the Internal Revenue Service (IRS) decide to audit your return. When the IRS audits someone, whether an individual taxpayer or a business owner, that person bears the burden of proof for whatever the IRS is questioning. The best way to avoid this situation entirely is not to take any actions…

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Profit Hides Lots of Mistakes

By | Business Planning, Entrepreneurship, Small Business Growth

As business owners become content and satisfied, they become less motivated to maintain optimal health in their organizations.  In fact, our research shows that over 80 percent of businesses suffer from this condition, and it is costing them significant profitability and cash flow opportunities. Read more about this phenomenon in my article on Missouri Business here.    

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Adopt These 10 Steps to Successfully Manage Business Finances

Adopt These 10 Steps to Successfully Manage Business Finances

By | Entrepreneurship, Small Business Operations

Starting a new business is exciting, especially if it’s something you feel passionate about and have dreamed about for years. While managing your business finances is less exciting, it’s something you must do nonetheless. Below are 10 tips to help manage your business finances well from the start. Maintain separate banking, credit, and loan accounts for personal and business use. You will need to do this immediately if you plan…

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5 Factors to Consider When Launching an Entrepreneurial Career

5 Factors to Consider When Launching an Entrepreneurial Career

By | Entrepreneurship

Being an entrepreneur can be extremely stressful, since pretty much everything depends on you accomplishing your objectives, but it can also be very liberating because you’re no longer working for anyone else, and you’re completely in control of your own destiny. Before you embark on your entrepreneurial career, there are some things you should consider about what to expect in the business world. Find your passion Whatever you become involved…

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4 Strategies to Help Increase Your 2019 Business Profits

4 Strategies to Help Increase Your 2019 Business Profits

By | Business Planning, Entrepreneurship, Small Business Growth, Small Business Operations

The end of a calendar year is a common time for business owners to reflect on how they can be more profitable in the new year. You might even feel discouraged because you don’t know how you can possibly take on more business and still have time for a life outside of work. If so, you will be happy to know that increasing profits doesn’t always mean taking on more…

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Next Generation of Small Business Owners Increasingly More Diverse

Next Generation of Small Business Owners Increasingly More Diverse

By | Entrepreneurship, Small Business Growth, Small Business Operations

As we head towards the third decade of this millennium, small business owners are increasingly reflecting the diversity found in the larger society. The most dramatic change exists between business owners of the current generation and those in the process of starting a business of their own. While white males still make up the majority of small business owners, there is a greater representation of women, African Americans, Hispanics, Asians,…

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7 Marketing Strategies to Help Your Business Grow

7 Marketing Strategies to Help Your Business Grow

By | Business Planning, Entrepreneurship, Small Business Growth, Small Business Operations, Small Business Sales

As a business owner, you put so much thought and energy into mapping out the path for your business to grow. One step you can take to increase your return on investment is to develop a solid marketing strategy. A good marketing strategy will increase your brand recognition, and will take into account all marketing channels which will help to grow your business. By developing a really good marketing strategy,…

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Understanding Innovation and How It Benefits Your Business

Understanding Innovation and How It Benefits Your Business

By | Entrepreneurship, Small Business Growth, Small Business Operations

According to BusinessDictionary.com, the primary definition of innovation is risk-taking. Companies that possess innovative traits continually look for new and more efficient ways of creating their products and services as well as improve customer service. No matter how long you have owned a business, you know that markets, products, services, pricing, and customer expectations change frequently. To embrace innovation means that you’re always open to new ways of doing things….

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10 Soft Skills Employers Look for in New Hires

10 Soft Skills Employers Look for in New Hires

By | Entrepreneurship, Small Business Operations

Resumes don’t always tell the whole story about potential candidates, in terms of the kind of skills they bring to the table. Those skills identified on the resume are generally considered to be hard skills, i.e. those which have been acquired academically or on the job, and which pertain to the profession itself. However, the soft skills which a candidate brings to the job may be just as important, or…

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Successful Preparation is Key to Selling a Business

Successful Preparation is Key to Selling a Business

By | Entrepreneurship, Small Business Sales

There’s no such thing as preparing too much when it comes to selling a business. In fact, lack of preparation for selling a business is the biggest reason that deals fall through or business owners end up losing money. You can even include a clause regarding the sale of the business when you buy it. This is especially important if you go into business with a partner or you plan…

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