When the landlord announced a significant increase in the monthly rent, one small business began to get concerned. Running a fitness facilty has significant overhead, and budgets had been carefully calculated to allow for a certain number of classes to run, for the upkeep of the equipment, and for staff to stay on site. The [...]
Recent discussions with one of my clients brought to light a common problem with marketing plans made by businesses without the foresight to consult with marketing companies, or companies involved in aspects of marketing. The client in question was looking for ways to promote their product, and thought of several different methods by which they [...]
Working in IT, a common occurrence is to hear about projects being run by a group of people who believe in the product, and are essentially donating their time. Money is generally budgeted in such projects toward difficult-to-avoid expenses, such as incorporation fees, or for services which they cannot get donated. However, occasionally a skill [...]
A recent project was a real learning experience about the risks associated with out-sourcing. Not that it would stop me from out sourcing any other work, but rather it taught me how to manage the risks of using someone outside your company. The project began with everyone positive and upbeat, but then things began ton [...]
In reading Scott Berkun’s book Making Things Happen, I learned quite a bit about managing projects. Scott’s background is similar to my own – for years, he was (and possibly still is) a project manager for Microsoft, overseeing large teams working on fairly extensive projects. With a technical background, he wrote the book with a [...]
A lively debate broke out at the office regarding whether it is better to save or better to pay down debt. While the conversation in the office was in regard to personal finances, much of what was said has implications to businesses as well. A business generally runs a budget that balances both short-term and [...]
When working on a large project, there are generally two ways to bill for the project – by the hour, or by the project. In an earlier article, I discussed the system I use to determine a price for a project. My hourly rate is determined based on how much I want to earn, and [...]
Unexpected money can help get rid of an outstanding debt – but have you considered the reasons you might be better off putting the money into an investment, even at a lower interest rate?