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Social media is a buzz term these days, but you may not understand what it is, much less the impact it can have on your small business.  If you don’t know what it is, it’s time you learn because affordable marketing of your business is key to your success, and social media is, if nothing else, affordable. Way back when, my Dad ran a big ad in the local newspaper every Tuesday; that was the beginning and end of his Read More

Your Thoughts are Numbered

There are a few well-known bloggers who swear by their belief that everything presented in a blog has to be reduced to numbered bullet points.  Here are four points I frequently hear when it comes to the logic of numbering your thoughts in a blog post: They say numbering your thoughts make you sound more professional, more like an expert. They say numbering your thoughts make your points easier to remember. Read More

How to Weed Out Bad Business Brokers

A business broker in the state of Tennessee is not required to have any kind of license or training. Anybody can print a business card and call themselves a business broker. Crazy? Yes, it’s crazy. To appreciate just how crazy this is, realize that you can’t be a barber without special training and a license. You can’t operate a nail sale without a state license (which includes training). There’s a 12-week Read More

Selling a Family Business ….. Problems are Right Around the Corner

When Bob (not his real name) called me, I could tell he was tired. He wanted to sell his family business, but he didn’t know how to find the right buyer and make sure he got a fair value for his life’s work. Bob started his business in 1981 and built it into a thriving niche manufacturer of plumbing components. But at age 74, Bob was ready to sell his business and spend more time with his ailing wife. The business Read More

Think Outside the K-Cup, Three Business Principles I Learned While Comparing Starbucks Via with Starbucks K-Cups

I discovered Starbucks in 1994 when a group of Disney executives held a meeting at the Whistler Blackcomb ski resort in western Canada. One morning our Canadian hosts took us to a charming coffee shop in the village and one guy ordered this thing called a “latte.” I had no idea what that was, I assumed it was a special local favorite. I ordered coffee, black, large. Whoa, one sip and my boring Maxwell House life Read More

5 Essential Elements of an Effective Exit Plan

Exit plan creation should be a key part of your business plan, no matter whether you’re serving your first customer / client or swiftly approaching retirement. Knowing what you plan to do when you hand the company reins over to someone else allows you to align present business decisions and operational objectives with your long term personal and financial goals. To ensure a successful exit and ultimately safeguard Read More