I have a quick question for you. Here it is: How are you planning for next year? In my experience working with entrepreneurs, I’ve realized there are two types of people in this world. There are proactive people. And there are reactive people. How people approach a new year can tell you a lot about [...]
Business is all about risk. That’s what makes us entrepreneurs. People who have a low tolerance for risk choose a stable and predictable income. It’s called a salary. It always comes in at the end of the month. And that’s why most people prefer it. But if you choose to build a business, you’re taking [...]
The year 2020 is gradually reaching its end. And it’s been a very harsh year for many businesses. Many have lost customers. Many have lost employees. And many were shut down. On a personal level, it’s also been very rough for entrepreneurs. Some are in deep financial trouble. Some are faced with loans they’re struggling [...]
After working so hard in the business, a lot of entrepreneurs are not getting paid. The landlord gets the rent for the office. All the employees get their salaries. And all your suppliers have been paid. But you get very little or nothing. After all the risk you’ve taken. After all the money, time, and [...]
How do you know when it’s time to fire an employee from your business? Firing people is tricky for many entrepreneurs. It’s an uncomfortable situation that some business owners prefer to ignore and avoid. The problem is, your business will suffer if you continue to keep an employee who is not a good fit for [...]
When it works, business partnerships can achieve amazing feats. Magical things can happen when two or more bright people contribute their ideas and resources to build a business. It's no surprise that some of the most successful companies in the world today are products of business partnerships. Google, HP, Apple, Procter & Gamble, Microsoft, and [...]
Every entrepreneur wants to make money. We all want to get rewarded for our ideas, our creativity, our smarts, our hard work, and the risks we take. But still… Some people work harder and longer in their businesses than others, but still, make far less money than others. Some entrepreneurs take more risk, but end [...]
How do you convince people to buy what you're selling? Many people use logic. Most people target the head. Maybe if you show people the benefits of using your product, you can convince them to buy. But guess what? Logic does not always work. And I'll give you real examples. Have you ever seen a [...]
A business idea is worthless unless you know how to exploit it. Many times, it's not the business idea that matters. It's what you can do with it that really matters. Have you ever wondered why so many people have good business ideas, but only a few people actually go ahead to start the business? [...]
How can you tell if a business idea has the potential to make money? Some business ideas sound fantastic, but they're not realistic. Some business ideas look good in your head and on paper, but are unlikely to work in real life. So, how can you tell if what you have is a feasible idea [...]
