Philosophers often speak of activities having either intrinsic value or instrumental value. As I understand this, something has intrinsic value if it provides meaning to you in and of itself. An activity that has instrumental value is more of a means to an end. [Read more…]
Half of a great product, or a half-great product?
One of the things small entrepreneurs lack is time. Another is money or cash flow. And most commonly, small entrepreneurs are short on both time and money. [Read more…]
Will education make you successful?
You discover an interesting phenomenon when you study the lives of successful entrepreneurs. While some of them may have postgraduate degrees, and impressive records of academic achievement, many do not. Quite often, you find that these individuals utilized non-traditional means of educating themselves. [Read more…]
Entrepreneur’s tip of the day
Sometimes when you’re up against the big boys, it gets discouraging. Their advertising budget is perhaps thousands of times larger than yours. [Read more…]
Answer these four questions to fatten your bottom line
You created the business of your dreams. There is only one thing missing: profits! Here is a four step analysis that will help you get on track to determine why your bottom line is so skinny. [Read more…]
If you critique it, can you boutique it?
So often these days, entrepreneurs are focused on growth. Don’t make the better mouse trap, make the bigger one. We all have dreams of being Donald Trump. Plus, it’s always been drilled into our heads that business is business, and you need to take it all the taking is good. Some of this may be a result of having weathered the most severe economic downturn since the 1930s. Many of us may be operating from a position of fear. [Read more…]
What wage do you seek?
I bargained with Life for a penny,
And Life would pay no more,
However I begged it evening
When I counted my scanty store. [Read more…]
Entrepreneur tip for the day — required reading: your business insurance policies
Most of us are familiar with insurance. Periodically, you pay a premium in return for a promise by a company to pay for a loss you may incur that the policy covers, up to a specific total amount. Almost anything can be insured. We are all aware of automobile policies, and coverage for our homes. And of course, we have various insurance policies that cover our business. [Read more…]
Tip of the day for the entrepreneur
So often we entrepreneurs spend 80% of our time servicing the clients that earn us 20% of our revenue. Set aside some time to take a hard look at your “chart of accounts.” See which clIents you have that take much more of your time then the dollars in justified. Then, ask yourself the following questions: (1) why do I spend so much time on these clients; (2) is the time spent justified for reasons other than revenue; and (3) what would my business look like if I stopped servicing one or more of the time-sucking clients. You may be surprised at what a little pruning might do for your business, your work-life balance, and surprisingly, your bottom line.
The best job ever?
Solopreneuring is the best alternative to a job. In today’s world, no one has assurances of continued employment except under rare circumstances. Virtually every job, even those once deemed to be less subject to layoffs, are no longer safe harbors. And as for myself, I feel more secure trying to make my own job, so to speak, every day. As an entrepreneur you are in control of your future. Well, more control anyway. And no, there is no security when you run your own business. But there’s not much working as a wage slave for someone else either