Conspicuous consumption is when someone spends money on goods or services in an effort to either convey a higher social status or invoke envy in others to gain their respect. Product badging is a way to draw attention to items that convey status. Yet, not all consumers want you to know the relative price of their products based on its badging.
The Secret to Product Badging Read More »
A franchise investment isn’t as high as most people think, especially when you put the investment cost into context and compare it with starting a business from scratch. There are eight factors that determine a franchise’s investment costs.
So Why Does a Franchise Cost So Much Anyway? Read More »
I believe there is a difference between taking advice from a serial starter vs a serial entrepreneur. A serial starter has played the game of business but not yet won. While a serial entrepreneurs in my definition, has not only played the game, but has also won the game by reaching either a natural conclusion to the business or achieved a profitable exit.
Serial Entrepreneur or Serial Starter? – That is the Question Read More »
Small business entrepreneurs never seem to lack vision, big ideas, or ambition! The vast majority of entrepreneurs I encounter in my practice believe they have a product or service that is so much better than what’s on the market already; they believe that if they can just roll it out, they will be able to
How Not to Strike Out in the Game of Business Read More »
There is a huge difference between consumer credit and business credit. Consumer credit funds consumptions while business credit is known as “leverage” and is applied to the purchase of an income-producing asset. As individuals, consumer credit is generally a method we use to obtain what we desire sooner than if we were forced to save
What You Think You Know about Credit Is Just Wrong Read More »
while the government may understand the importance of small business in the overall economy, its definition often differs from the way most entrepreneurs may define them. As a result, the methods in which the government can inject money are primarily limited to guaranteeing loans and creating projects for a narrow slice of the business community.
The Feeble Role of Government to Stimulate Small Business Read More »
Learn how savvy entrepreneurs recognize they may have a confirmation bias that can stifle their success and discover how to avoid them.
How Your Confirmation Bias Is Stifling Your Business Success Read More »
Several weeks ago, Sara Pope of ConsumerAffairs.com, reached out to me and asked if I could review a step-by-step guide to business loans and financing that her company had produced. My initial reaction was to just say no. My inclination to decline her offer was based on my experience with hundreds of nascent entrepreneurs. All too
A Step by Step Guide to Business Financing Read More »
Understanding monetary policy is critical to understanding why our lives are the way they are. Unfortunately, economics is often viewed by the vast majority of citizens with confusion and boredom. Financial jargon coupled with intimidating mathematics quickly deters people from any attempt at understanding it. That said, our established monetary system exists as one of
Our Fragile Monetary System Read More »
Innovations and manufacturing businesses have different planning requirements than the more common support and local service businesses.
Why The Business Planning Advice You Have Received Is Probably Stale Read More »
