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 [...]
It takes more than one tree to make a forest. That's why you need help. You will likely need help to grow your business to its full potential. You may need people who have the skills and experience you don't have. You may need people who have the access, contacts, networks, and strategic relationships that [...]
Every business starts with a ‘honeymoon’ phase. That’s the period just before and after you start your business. It’s a period filled with excitement, confidence, and passion. You’re excited because you finally created something out of that idea you’ve always had. You’re confident because the future looks very bright. And you feel a lot of [...]
Two people can have the exact same business idea. But it’s the person with a better business model who will likely succeed. That’s why business models are so powerful. But what exactly is a business model? What does it mean? Here is a good example: Apple This month, Apple became the first company in the [...]
If you want to last long in business, you have to master the art of dealing with customers. Especially your difficult customers. If you don't handle them well, your difficult customers can become enemies of your business. And in these days of social media, it's very easy for your enemies to pull you down. They [...]
