Solve Your Sales Problem

 Small businesses, particularly in their early stages, have two big problems. Selling is a learnable skill, and you don’t need a sales gene to be good at it. 1)    Access to customers. The business owners are new to their industry, probably inexperienced, and have not developed the savvy to secure appointments with important potential customers. […] Read more »

Finding Ideas to Start a Business

One of the most asked and difficult to answer questions I get when I speak to MBA students is “How do I get the right idea to start a business?” In approaching a reply, I would say at the outset, that there are no simple magical answers or formulas. I would add that most successful […] Read more »

Licensing Can Work for Small Businesses Too

Normally the subject of licensing would not appear in a Bootstrapping context because there usually is an up-front cash payment and a guarantee associated with securing a license. These two factors can be substantial with a high visibility license, such as Mickey Mouse, NFL football, Nike, Armani, etc. However, I bring it up here for […] Read more »

A Perfect Gift for Small Business Entrepreneurs

Small Business blogs were my first encounter with social media. The goal was to share my hard earned knowledge with existing and wannabe Small Business managers to ease their path to entrepreneurial success. If successful, I was hoping that they would then consider buying my book, Bootstrapping 101. However, I was warned not to sell my book in the blogs. I have followed that advice for some 90 blogs. Now, I would like to blatantly try to sell you on purchasing it for yourself or someone else who fits the bill. Why? Read more »

7 Tips on Barter for Small Business

Barter, an $8-12 billion dollar industry, is one of the businesses that flourishes in bad economies, as it offers entrepreneurs many opportunities to acquire things they need and want for no or little cash. Here are some of the things you should know about Barter, a great Bootstrapping activity. 1. It is the exchange of […] Read more »

ENTREPRENEURS–TIME TO BE THANKFUL

Whether you’ve had a difficult year in this current environment or have been one of the fortunate ones and prospered, it would serve you well to pause and take stock of all the things you should be thankful for. Be thankful you are in your own business and your own boss. Millions of people aspire […] Read more »

RISK: IDENTIFY, PRIORITIZE, AND MANAGE IT (Part 2)

A Google alert steered me to an article called “Beating the Odds When You Launch a New Venture” that had just come out in the May issue of Harvard Business Review, authored by Clark G. Gilbert and Matthew J. Eyring. It was one of the best pieces Iʼve ever read about entrepreneurs, their attitudes, and management of risk. They said that entrepreneurs arenʼt cowboys—theyʼre methodical managers of risk. I thought their concepts applied equally to small and big business. I contacted one of the authors, Clark Gilbert, to discuss his ideas and decided I wanted to share his thoughts with my small business friends. The result is my interview (below) with Clark. My comments follow his answers and are primarily addressed to small business owners. Read more »

Don’t Overlook Your Suppliers

Don't overlook your suppliers--they are hidden assets and can help your business grow. Your approach to suppliers needs to be part of your strategic plan since almost every company, whether product- or service-oriented, is dependent on suppliers. Many business owners seem to get this supplier issue backwards. They think that because they write the order, they're in the dominant position and can exploit it with unreasonable demands, including personal perks. Let's get this right--you need good and reliable suppliers. When you find them, treat them like gold. Read more »