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 [...]
About two months ago, I got an email from one of my clients. It had a PDF attachment. He was about to sign a deal with a potential investor who had agreed to invest $50,000 in his leather products business. After months of searching, he was very excited that the money he had been looking [...]
HP, Apple, Google, Microsoft, and Procter & Gamble are examples of great businesses that were started and built by business partners and co-founders. When two or more bright people come together to contribute resources, great things can happen. While business partnerships are powerful, they can also be a two-edged sword. In many cases, conflict and [...]
Yes, it's shocking. But it is true. Research now shows that up to 50 percent of entrepreneurs are likely to have at least one mental health breakdown in their lifetime. That's according to Michael Freeman, a psychiatrist, and psychologist at USC. Separate results by another researcher and psychotherapist, Dr. Paul Hokemeyer, confirms this. But he [...]
Time is money. It's something I've always heard since childhood. There is even a very popular old song in my country about it. But what does it really mean? I didn't realize what time=money really meant until I started running my own business. People are pained when they lose money. But when we lose time, [...]
Growth is a beautiful thing That's why almost every entrepreneur is looking for new ways to grow their business. Growth brings in customers. Customers bring in sales. And sales increase the size and likelihood of profits. On top of the financial benefits, growth is good for the ego. Growth often attracts a lot of public [...]
