How to prepare your business for coronavirus – 18 protection steps The novel coronavirus that causes respiratory disease COVID-19, and that was first detected in China, has now been detected in 60+ locations internationally, including in the United States. In response, some Americans are cancelling and/or limiting both domestic travel […]
Management
HOW TO PLAN FOR BUSINESS OWNERSHIP AND COMPENSATION (PART 2) Compensating With Stock Giving someone ownership rights in a company is a serious decision that should receive very careful consideration. There are several things to contemplate before taking on an equity partner, be it an investor or key manager. For […]
HOW TO PLAN FOR BUSINESS OWNERSHIP AND COMPENSATION (PART 1) Two of the most perplexing issues faced by an entrepreneur heading a new corporation are how much of the company to sell to potential stockholders and how much to pay key managers. Whatever method is ultimately chosen, it should […]
Manage What? for Managers Responding Assertively to a Customer Complaint You are the assistant manager of a paint store. Your store manager and all the service technicians have already gone home for the day. The phone rings and you find yourself talking to Mrs Philip, a customer who says (in […]
HOW TO HIRE THE RIGHT TEAM Today, with ever more employees suing their bosses for wrongful discharge, sexual harassment, and racial/gender/age discrimination, it is increasingly important an entrepreneur understand how to hire. Hiring is not a simple matter of placing a help-wanted ad in the newspaper, receiving resumes, and then […]
WHY SMART COMPANIES OUTSOURCE PRODUCT MANUFACTURING When new businesses fail, most of the time it’s due to running out of cash. Poor cash flow management is the nemesis of the more than 80% of new ventures that go out of business in the first year. It takes a lot […]
HOW TO ORGANIZE A START-UP TEAM The organization of a business process and the site for the business are critical aspects of the management and the operational plan, but it is the people who implement those processes and use the company facility on a daily basis. The roles and responsibilities […]
HOW TO IMPROVE PRODUCT INNOVATION AT YOUR COMPANY More often, even big companies struggle with innovation. An example was Gerber’s 1970s attempt to penetrate the adult food market. Instead of developing a new line with its own unique distribution strategy, the baby food brand re-labelled existing pureed products and simply […]
 For a manufacturer, the location site choices narrow significantly. Communities have zoning laws that limit manufacturing companies to certain designated areas away from residential, retail, and office commercial sites to reduce the chance of noise, odor, and pollutants affecting the citizens. Often these areas are known as industrial parks […]
The Trade Area The Trade Area is the region from which the entrepreneur expects to draw customers. The type of business will largely determine the size of the trade area. For example, if a business sells general merchandise that can be found almost anywhere, the trade area is much smaller; […]
