Continuing with the theme of basic pieces of advice, today’s suggestion is in regard to your learning. I left university having had enough of sitting in the classroom. My degree took 5 years to complete, having added and removed subjects several times. I was ready to move out into the real world, despite the messages [...]
If there was only one piece of advice I could give a business owner, this is it: Find a mentor who has been in a similar business situation before (though not necessarily in the same industry), with whom you have good personal chemistry, and with whom you can communicate effectively. The reason for this is [...]
When Carley Stenson came onto the Den with her business, she clearly indicated who was in charge. Her fiesty presentation for a business with a low barrier to entry turned away four of the Dragons, but garnered her a deal from the fifth. Siams Pants, a comfortable, one-size-fits-all Thailand Fisherman’s Pant, retail for $32, and [...]
Getting people to pay on time can be difficult, and can frustrate business owners as they struggle to create a reserve large enough to float unpaid invoices. There are many strategies published that address this issue, and how to best manage getting paid in a timely manner. How do you go about ensuring that your [...]
No matter who you are, at some point, you will encounter failure of some sort. It could be a major event in your life or a tiny insignificant occurrence that barely registers. Regardless, failure will have occurred, and you must deal with it. Naturally, the way in which people deal with failure is somewhat dependent [...]
A concern arose on one of the various question sites I frequent – a manager was hired on contract to supervise a project, which was cancelled a short time later. As a result, the contract was terminated. Normally, this would be percieved as a standard part of business as a consultant – except for this [...]
Something many businesses struggle with in their early days is finding a name which identifies them. Sole proprietors may have it easy, since they can name it after themselves. However, as soon as additional people join the business, using your name to identify the business may not be the best idea. However, there are certainly [...]
There is a tendency for prudent people to have a Plan A, or what they really want to have work, and a Plan B. In business, though, your Plan B should be to support Plan A. The true reason for having multiple plans is when there is an outside factor which can influence whether or [...]
Elie Kochman is the author of Advice for Small Business Owners and the founder of Optimal Upgrade Consulting. Using his experience working in the corporate world along with his exposure to the world of small businesses, he writes these articles to assist others avoiding common pitfalls of growing a business. His experience in the corporate world, building his own business, and working directly with other growing businesses has given him some perspective on the trials and pains of running a business.
