Two different cases of mixing friends/family have come up in conversation the past two weeks so I decided it was time to address this issue via a blog post. Contrary to what you may believe, business and friends/family do not mix well. When you start discussing the idea with friends/family they might get just as [...]

A friend of mine recently asked me, “When your business partner is your spouse, what steps should you take to keep the business and personal relationships separate?” This is a very tough question. Many new businesses are started by couples, which can cause conflicts within the marriage. From my own personal experience, I know that [...]

Does this sound familiar, “I don’t have the money to hire an administrative assistant (or insert other service provider here such as PR expert, advertising agency, etc.)” It is the trap of the small business owner. You are so busy doing the work in your business that you are not working on your business. The [...]

Join me tomorrow, October 21st (Wednesday) at 2 p.m. PST as I join my friend Dave Lindbeck on this radio show to discuss business plans. Listen here: Talk About Success.

In every newsletter I read, the message of outsourcing is prominent. In the past I have hired independent contractors to help me with projects or administrative tasks. I have had both good luck and bad luck with this endeavor. One of my independent contractors worked with me for almost two years. Another never showed up [...]

Financial statements are intimidating so it is no surprise that many business owners do not even attempt to calculate financial ratios. Accounting and finance are two courses most students try to avoid or at least struggle to get through, especially when your instructors require you to memorize ratios. But, ratios can help you identify trends [...]

What if? What do you do when things do not work out the way you planned? Do you have a back-up plan, i.e., a contingency plan? When an entrepreneur is starting a new business all they see is opportunity. They may consider, for just a moment, that things might not work out they way they [...]

About nine months ago I created a Mastermind group. Even though I have a business coach, I wanted to be held accountable by someone in addition to my coach – it is too easy to tell one person you did not reach your goal, but harder to tell two or more people the same! Also, [...]

You have heard the saying before, “Cash is King!” A friend of mine used to tell business owners they need to know how much money they have in the bank everyday. While this is good advice, I think many business owners focus too much on cash and not the business activities that bring in or [...]