We occasionally hear political discourse about the need to support small business in America. Regardless of which side of the political aisle you find yourself — and admittedly the size of that aisle is cavernous these days — we find a common definition of “small business.” The small business of which Washington DC speaks is one with 12 full-time employees and $5 million a year in annual sales. Now, many entrepreneurs want to get to that point. But I believe the truth of the matter is that the vast majority of small businesses in America support one person, the owner; the average small business delights its owner when it crosses into six figures of revenues.
Perhaps the most critical tool for success is . . .
Long gone are the days when Emotional Intelligence was seen as flowery add-on to corporate training seminars or as something that would be nice, but not necessary, for a firm’s success. These assumptions about EI in the workplace are rapidly being put to rest as more and more organizations – from Fortune 500 companies to government agencies, solo entrepreneurs to non-profit organizations – realize the importance of having self or staff that has been trained in emotional intelligence strategies, and who know how to navigate coworkers’, colleagues’ and clients’ emotional trigger points. By doing so, better outcomes are achieved, and the organization as a whole, whether large or small, becomes more successful. [Read more…]
Possible tip for the solo or micro entrepreneur to save time in navigating the Affordable Care Act?
If you are are a small entrepreneur, particularly one who has had difficulty obtaining health insurance in the past, the Affordable Care Act will give you the ability to purchase insurance for yourself and your family. [Read more…]
The Seven Deadly Sins of entrepreneurship — Number Five
The fifth of the Seven Deadly Sins is worship without sacrifice. For purposes of adapting this maxim into the world of the entrepreneur, I have substituted the word spirituality for worship. In today’s Western society, while some will claim to have a set of religious beliefs, almost all of us feel we have a spiritual side to our being. [Read more…]
The Seven Deadly Sins of entrepreneurship — part two
The second of our seven deadly sins of entrepreneurship, adapted from Gandhi’s list of seven spiritually detrimental traits, is “pleasure without conscience.”
What this “sin” speaks to is greed. Greed is also commonly listed as one of the biblically defined seven deadly sins. What we speak of is the accumulation of wealth without regard to how you procure it or for what purpose you intend to use it. The goal is simply the acquisition and nothing more. Think of the character Scrooge from Dickens, or, for those of you with a more well-rounded education, Scrooge McDuck from the comic books. [Read more…]
Are you handcuffed by your business?
Here’s a real problem for many small business owners, particularly those who engage in what are commonly known as the “professions.” An added expense to maintaining a business is additional expenses to one’s personal lifestyle. This is sometimes known as “the golden handcuffs.” A professional needs to maintain a certain image to attract business, and then has to chase increasing amounts of dollars to pay for that image. He or she needs the right clothes, the right car, the right house, and to eat, shop and be seen at the right places. If at some point the professional wants to take a step back and simplify his or her life, the golden handcuffs make it difficult to do so. [Read more…]
The Seven Deadly Sins of entrepreneurship — part one
Mohandas Gandhi created a list of seven traits that he believed to be spiritually detrimental to each and every one of us. Today, and for six articles thereafter, I am going to adapt these seven sins, applying them to the world of the entrepreneur.
How to make more money in your business . . .
There are two components to whether a business is successful, bottom-line-wise: high revenues and low expenses.
Find out how long you will live. . .
Ask anyone how long they think they will live. In most cases, you will get an answer. And the answer will generally be a very specific number. Sometimes this is based on a desire, or a family history, but somehow, imprinted in all of our brains, is a mortality timeframe.
Is it okay to break a promise?
Honor your word. If you make a promise, keep it. Look someone in the eye, shake his or her hand, and then stick with the deal you made.
This is a philosophy instilled in many of us from childhood. Keep your promises. Be true to your word. But what happens to this principle in the world of the entrepreneur?