How to Approach your Business Finances with confidenceIt shouldn’t come as a surprise to most entrepreneurs that
How to Approach your Business Finances with confidence
It shouldn’t come as a surprise to most entrepreneurs that starting a business is a challenging endeavor. In fact, a recent study from World Bank, Facebook and the Organization for Economic Cooperation and Development (https://www.inc.com/leigh-buchanan/why-its-so-hard-tostart-a-business-in-the-us.html) found that the U.S. ranked 51 out of 190 countries when it comes to the ease of starting a business, a ranking that weighs factors such as procedures, time and one of the biggest hurdles: costs.
Over the course of my career—from working as a branch manager at a bank to my current role as director of Access to Capital at the Women’s Business Development Center (WBDC)—I’ve witnessed firsthand how difficult it can be for individuals to navigate the process of requesting the right amount of capital for their small business.
BUSINESS ETHICS FORM THE BASIS OF A POSITIVE WORKING ENVIRONMENTDo you consider your employees family? Do your employees fee
BUSINESS ETHICS FORM THE BASIS OF A POSITIVE WORKING ENVIRONMENT
Do you consider your employees family? Do your employees feel the same? Some small businesses are happy to say that their office is like a family. But is that always a good thing? Normally, the phrase “I really love the family atmosphere at work” seems ideal, but things can go awry quite easily. Are you treating employees as that estranged member of the family who has shown up at the most inopportune time? Take a step back and put yourself in your employee’s shoes. Does working in a family atmosphere mean employees may not get paid on time? Does it mean employees have to lie to customers or cover up the truth?
Business owners are responsible for keeping the business afloat. We cannot put that responsibility on employees (family or not). By putting employees in these awkward types of situations, business owners create a hostile atmosphere and have less productive employees. It’s important to create a business ethics code in order to foster a positive working environment for everyone.
More than a MagazineIt was February and Reno, Nevada, already blanketed by a lat
More than a Magazine
It was February and Reno, Nevada, already blanketed by a late-season snowfall, was bracing for several feet more.
There were 20 of us: small business owners, solo entrepreneurs, nonprofit executives and Fortune 500 diversity professionals, representing a range of industries from across the country: advertising, automotive and banking to construction, consulting and healthcare. And we were settling into a cavernous lodge for the fourth annual Diversity Professionals Connect (DPC) 2018 Summit an intimate, invitation-only retreat hosted by Melissa Simmons, Diversity Professional magazine publisher, president and CEO.
Launched in 2015, DPC’s mission is to “connect people, explore opportunities and build relationships.” Unofficially, its job is to dispense with the niceties that clutter business networking. It’s about pulling back the curtain on all segments of diversity and where they’re headed. It’s about the future of diverse entrepreneurs and professionals. And, with stark candor, it’s about economic survival, the closed-door struggles with worklife balance, the drive for success and the fear of failure.
Disrupt or be Discarded: Rethinking your Business StrategyImagine being the CEO of a highly competitive and successful
Disrupt or be Discarded: Rethinking your Business Strategy
Imagine being the CEO of a highly competitive and successful $9 million business, with contracts with a number of corporations. One of your customers decides to restructure its vendor program by eliminating all vendor contacts with a high-risk profile—a company with over 25 percent of its overall business invested with another business. Because your company has 50 percent of its business with this particular corporation, this could put you out of business within six months.
You are probably thinking, “Oh, no! We’re screwed! What do we do?” But, after a few tantrums, your thinking turns into active, problem-solving mode. You say to your leadership team, “We need something that truly differentiates us from our competitors, fills in the gap of this business loss, and positions us to be successful in the future. Our strategy needs to be a disruptive transition.”
What Is Disruptive Transition?
Disruptive transition is a disturbance that interrupts and changes from one state or condition to another, creates a new market and value network for businesses and encourages change.