Would your business benefit from lower downside risk but less profit potential, or higher profit potential with greater risk if break even is not met? In this post, discover how a businesses fixed and variable costs will shape its risk and reward possibilities.
How to Control Business Risk Read More »
I recently was watching a home movie of a motorcycle trip I took with my two boys where we traveled through seven southwestern states. As we rode through the hinterlands that make up much of this region, I recall being struck with a business epiphany. I shared this epiphany with my sons at a roadside
Why Your Options Are Limiting Your Success Read More »
Don’t look to our government as a model in understanding good vs. bad debt. Every day the media highlights another case of the government’s ignorance in the way money should be used. One side of the aisle says it is a revenue problem and we need to raise taxes on the rich. The other side
Is Bad Debt Destroying Your Business? Read More »
What if one of your best employees was forced to move to a new city or wanted to leave for a better opportunity? Would you do whatever it took to keep them, such as making a job for him or her to work remotely or would you encourage them to leave? I was faced with that
Be Willing to Let Key Employees Go Read More »
Existing businesses make money on day one. A successful franchise will earn the owner income not too long after starting up. However, a start-up, even one that survives, may take months or years to begin to pay the owner a salary for working in the business.
3 Risk Levels to Becoming a Business Owner Read More »
Many clients I speak to are looking for a home run or flagship clients. Their logic is since it takes the effort to sign up a new customer, why not sign up a few large customers vs. many small customers? However, this is a misguided goal of building a healthy business. Ideally, you would like
Too Much of a Good Thing Read More »
Most people I talk to about investments believe in having a diversified portfolio vs. consolidating all their assets in one company as a way to mitigate their risk. However, these same people go all-in on much more risky small business ideas with no partners. Entrepreneurs understand the value of shared risk and reward programs. As
Diversify your Small Business Risk Read More »
Are you risk adverse? Most people work hard for their money. Therefore, when it comes to investing their hard earned money, they tend to play it very safe and conservative. Entrepreneurs know that money doesn’t come from work but from ideas and one’s personal knowledge. They know that even if they lost all their money
Safe vs. Calculated Risk Read More »
In business, many of the most promising and productive individuals have fragile egos. As the owner of a company, you need to be able to recognize and reward behaviors from employees that move the business forward or risk creating a Benedict Arnold in your own ranks.
Recognition Or Doom – Failing To Recognize Outstanding Performance Is A Colossal Mistake Read More »
State lottery games take in about twice as much money if they pay out to the winners in a single lump sum vs. a series of 29 annual payments. Furthermore, the overall odds of winning are not very good: 1 in 259 million for Mega Millions, to quote their website. However, when the jackpot gets
The Lure of Big Money Read More »
