Glenn Stansberry
American Express OPEN Forum
March 22, 2010
Ironically, this article is long and takes some time out of your day to read. But the investment is worth it, as there are tidbits in here that I’m sure you will find valuable. Some things are reminders of what you KNOW already works but have just ignored (or is that just me?), others may be light-bulb moments of inspiration. Let us know which ones actually work for you!
http://www.openforum.com/idea-hub/topics/managing/article/get-rid-of-bad-customers-julie-rains
Julie Rains
American Express OPEN Forum
February 17, 2010
We all know that certain clients can be particularly demanding and that we can spend too much of our time dealing with them. At a former job, we called these people “Dr. & Mrs. Crazy.” But when do you say, “Enough?” And how do you get these monkeys off your back so you can focus on the right clients? This article provides good tips and some examples that might make you nod your head in recognition of these problem accounts.
Thursday Bram
American Express OPEN Forum
February 10, 2010
Perhaps the biggest points to note in Bram’s tips for negotiating space are that there are many ways to negotiate that have nothing to do with price but can still provide you with value, and to have an attorney (or an experienced commercial broker) assist you with the negotiations and review of the lease agreement. Going it alone can, at best, leave some money on the table and at its worst, obligate you to expensive provisions on the back end of the lease that you don’t realize at the time of signing. Consult the experts. Always.
Thursday Bram
American Express OPEN Forum
January 29, 2010
An insightful piece about vendor management and maintaining relationships with the people that are helping you to grow your business by providing you with access to materials and services. At the core, you want to make sure that you have a mutually beneficial relationship with your vendors, one in which you get a good price and they make a little bit of profit, to ensure that they stay in business and want to continue to work with you. I’ve watched too many short-sighted business owners try to beat up vendors for every last dollar, only to later discover that they don’t get the attention that they want, that short-cuts were taken or that they have been “fired” by the vendor because they can no longer afford to do business with them. Pay on-time (or early to get cash discounts) when you can and be honest with vendors and work out payment arrangements when you can’t. They are your business partners, whether you like it or not, so keeping them in the dark will only injure those relationships long term.
Susan L Reid
American Express OPEN Forum
January 27, 2010
Although signs are pointing to a recovery from a year that most people would love to forget, there remain short-term issues to deal with and small business owners could use a hand navigating these waters. Reid advocates three things for 2010: Hire a business coach, focus on what will generate near-term revenue and look for ways to reinvent your business. 2009 might have eliminated your major competitors or opened up a gaping hole in the marketplace that simply was not there in previous year, and you might just be the one to take advantage if you act now.
Two Key Numbers You Need to Know to Manage Your Small Business
By: Trent Hamm
American Express OPEN Forum
January 12, 2010
The single most-often heard answer I received when I ask business owners how they measure the success of their business is “How much cash I have in the bank.” Trent’s blog puts a little more definition into that metric by looking at a 30 day average of the cash on hand instead. Add to that a look at the average number of days for a customer to pay, and you will have some pretty good information about how the business is trending.
Why Public Speaking Is Good for Your Brand & How to Get Started
Public speaking, while one of man’s greatest fears, can be an exhilarating experience. It can also boost your reputation and your business.
by Tony Bacigalupo
OPEN Forum
December 1, 2009
I think everyone has a little bit of fear of speaking. But the more you know about the topic, the more confident you will be. Go out there and prove to people why you are great at what you do!
Entrepreneurship: The Road to Riches (and Poverty)
by Scott Shane
OPEN Forum
November 30, 2009
Some interesting statistics comparing the income levels of the self-employed compare with those of the wage-employed. In addition to the numbers, prospective entrepreneurs should be considering other factors such as lifestyle, stress and comfort with “uncertainty.”
by Shira Levine November 24, 2009
One of the great things about running your own business is that with a little bit of organization before year-end, and probably a sit down with your tax accountant, you can substantially impact your personal tax picture with some fairly easy tax strategies. If you are considering any fixed asset purchases, it might make sense to do them in 2009.
