Managing the very small business

Seth Godin Blog

How do you find, lead and manage employees in a tiny business (two to nine people)? This is an organization that's bigger than a solo operation, but it almost certainly involves everyone reporting to the boss.

Five Legal Requirements for Starting a Small Business

MBO Partners

Make sure your small business operates legally with all of the required licenses and permits

Interactive Look: How Small-Business Friendly is Your City and State?

MishTalk

Thumbtack , in partnership with the Kauffman Foundation , conducted a Small Business Friendliness Survey. Overall ranking range from 1 through 38, with 1 being the most small business friendly and 38 the least small business friendly.

Capital Controls Destroy Greek Small Businesses; Bank Shares Plunge Again; Record Contraction

MishTalk

July’s sharp decrease in the level of new business at manufacturers surpassed the previous record set in February 2012. Panel members commented on the impact of capital controls on demand, and also cited a generally uncertain operating environment which further weighed on sales.

How Small Businesses Can Increase Their Digital Capabilities

Harvard Business

Paying for a cup of coffee on an iPad is mainstream in big cities, but the majority of small businesses — the backbone of our local economies — have not yet fully come online. Small businesses like restaurants, which have an 80% failure rate in the first five years, are some of the most challenged in curbing inefficiency and meeting the rising expectations of tech-empowered customers. Bringing Your Operations Online.

What Small Businesses Stand to Lose in a Net Neutrality Rollback

Harvard Business

For decades, the production of corn has been led by family-based businesses who operate their farms with a time-tested mix of traditional agriculture tools. Instead of jotting down notes about plant dates, weather conditions, soil nutrients, and crop yields, farmers are crunching big data sets to better forecast profits, track expenses, and schedule operations. farms have signed up to use FarmLogs to manage their operations. Jorg Greuel/Getty Images.

Success on Your Terms

Women in Consulting

Fifteen years later, that consultancy grew into the company I started with my business partner in 2012. What I know for sure is that while there is no secret sauce to small business success, the ability to achieve is within anyone who tries. By: Sheila Lewis.

Social Listening: Look Who’s Talking

Joellyn Sargent

If social media penetration is a relatively small proportion of the overall population, is all the fanfare about social media premature? Business owners and executives are being advised to monitor social streams to track customer sentiment. Operations. What’s a business to do?

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It’s Always the People; Whether Operating, Buying, or Selling a Business

Martinka Consulting

So now we get to small businesses. In the last week I’ve talked with three people about how business sellers almost always want to sell to someone who will take care of their people. Almost everybody in my industry has a story or two about how a business seller sold to someone for less money because of the relationship. No matter what type of business, the people are the primary asset. ” [Former client, business buyer and seller] Jim Bernard.

Melissa Snover's Recipe for Sweet Success

Strategy+Business

"Head magician" of Katjes Magic Candy Factory Melissa Snover explains to strategy+business the challenges that face small businesses that want to operate globally at a time when Brexit and trade wars are dominating the headlines

Melissa Snover's Recipe for Sweet Success

Strategy+Business

"Head magician" of Katjes Magic Candy Factory Melissa Snover explains to strategy+business the challenges that face small businesses that want to operate globally at a time when Brexit and trade wars are dominating the headlines

How to Figure Out Your Consulting Bill Rate

Successful Independent Consulting

If the latter, was it a company that provided access to training like General Electric, or a small to midsize firm? Professionalism (branding, marketing, positioning) — People who market themselves as an independent professional and who operate as a small business are able to charge more.

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Take Steps Now to Protect Your Independent Status!

Successful Independent Consulting

About two months ago, the California Supreme Court issued a unanimous decision in the case Dynamex Operations West Inc. That the work being done by the hired worker is outside the usual course of the company business; and C. Get all appropriate business licenses.

Is Your Company Actually Set Up to Support Your Strategy?

Harvard Business

Why is one insurance company deep into an agile transformation while another is experimenting with it only at the edges of its business? For every company wrestling with evolutions in its strategy, success depends as much on matching the operating model to those evolutions as it does on the soundness of the strategy itself. But exactly how do today’s companies create or update an operating model to match adaptations or wholesale changes in strategy?

Fintechs May Be Corporate Banks’ Best “Frenemies”

BCG

Sleek and efficient offerings such as payments, foreign exchange, advanced analytics, and supply chain finance are redefining service, creating lucrative niches, and extending corporate banking activities from the small-business segment to the mid-cap and beyond.

Global Corporate Banking 2016: The Next-Generation Corporate Bank

BCG

Corporate banking is a tough business. In fact, BCG’s most recent Corporate Banking Performance Benchmarking survey—of 300 corporate banking divisions around the world serving the small, midmarket, and large business segments—found a dramatic split between the best and the rest.

15 Best Business Podcasts for Independent Consultants

Tsavo Neal

I sought to find the best podcasts for consultants: podcasts that help them provide more value for their clients, acquire new business, and expand their minds. We discuss what actually works in generating business, from writing books to organizing events to old-fashioned relationship building.

Why Reducing Stress Stabilises Your Profits

Tom Spencer

As a small business consultant, I see the impact that stress has on people’s lives up close. Many times it is a good thing as it forces the business owner to adapt and excel so that his business thrives. So, what is the small business owner to do?

Repair Regulations: Limiting Business Deductions

Women in Consulting

For years, we have used the Generally Accepted Accounting Principle of expensing items that small businesses purchase of up to $500 or even $1000 when appropriate. . The rule is limiting businesses to expense a purchase which is $200 or less and consumed within a year. This is not going to happen to most small businesses.). By: Renee Daggett In September 2013, the IRS released new rules regarding expensing repairs/supplies and depreciating assets.

Business Book Review: Beyond the E-Myth

Management Consulted

Today, we continue our series of book reviews with a look at Beyond the E-Myth, the latest in a long line of great books by Michael Gerber (a marketing genius who has built a world-wide web of products and services to help small businesses grow). Beyond The E-Myth just might be the book that transforms the way you view your business, or inspires you to start (or sell) your own business. The difference is this: working in your business means that you own your job.

Challenges in Consulting to Small Organizations (Part 1 of 2) by Carter McNamara

Consulting and Organizational Management

Small organizations are often like small families, with all of the ensuing dynamics and challenges that we encounter in families of our own. However, this also presents opportunities for the consultants who understand the nature of small organizations and how to work with them. Here are some observations from working with many small organizations over the years. Yet many leaders in small organizations might use these resources only once or not at all.

Getting Old, Getting Stagnant, and That’s Trouble

Martinka Consulting

” The subtitle was: “At small businesses led by older bosses concerns are raised about stalled investments, succession.” ” In my books, If They Can Sell Pet Rocks Why Can’t You Sell Your Business (For What You Want)? and Buying A Business That Makes You Rich I make the following three points: Employees want to contribute and grow, i.e. career advancement. Coasting owner, vibrant buyer, and now a thriving business.

Organizational Fitness for Growth: Five Insights for CEOs

Kates Kesler

He wanted his executive team to examine some of those lessons learned and spend a day puzzling through what those insights might mean for their business over the next 3-5 years. 1: Balance Center-Led and Business Unit Decision Authority (horizontal health). Learning from Big Companies.

Why Your CRM Isn’t Working – and What to Do About It

Joellyn Sargent

Here’s a dream tool that will seamlessly capture leads, automate customer interactions, and spark dramatic business growth. Whether your business is thousands of employees strong or a small one with just are few employees (perhaps even a solo practice), there’s an automated solution that promises to meet your needs. Picking the right platform for your business needs is important, but even that doesn’t guarantee a successful implementation.

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Business Book Review: The Starbucks Experience

Management Consulted

This is not just your normal business book about a company. In fact, it is way more than just that: it is a book about an organization that has somehow managed to turn an ordinary cup of coffee, something that 25 years ago was ordinary and boring, into something extraordinary, something that has become a worldwide business phenomenon. This book will enlighten you to think differently and see how to do business from a different perspective.

The Magic Question – What Does the Owner Do?

Martinka Consulting

In the case of buying and selling a business, there has to be a match between the skills and interest of the buyer and the seller. An overly analytical, introvert type person may love the business model but if the owner is a key component of the sales team and process it’s probably not a good fit. Correspondingly, the outgoing, “I want to be in front of customers” buyer isn’t a good fit for a business requiring attention to detail on bids, contracts, job prototypes, etc.

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Small and Young Businesses Are Especially Vulnerable to Extreme Weather

Harvard Business

Businesses today are especially vulnerable to extreme weather and other natural disasters, as recent flooding in North Carolina , Louisiana , the northern UK , and Chennai demonstrates. Small businesses and young businesses are especially vulnerable. Census Bureau shows that these businesses were more likely than the average business to close permanently after Hurricane Katrina, for example. Our data include about 950 businesses.

Bad Boss = Bad Owner = Bad Seller

Martinka Consulting

I don’t even have to open the plethora of business publications on my table to know there will be articles about management style, bad bosses, and teamwork. ” Over my years of working in, owning, and advising small businesses I have learned business owners can be the best, most accommodating, and caring bosses one could ever have. So let’s look at some traits and factors and how being a bad boss, owner, and business seller are tightly tied together.

How Banks Can Compete Against an Army of Fintech Startups

Harvard Business

Banking for small and medium-sized enterprises (SMEs) has been astonishingly unaffected by the rise of the Internet. Lending to small and medium-sized businesses is ready to move online. Small businesses are starting to demand banking services that have engaging web and mobile user experiences, on par with the technologies they use in their personal lives. The problem is that about 60% of small businesses want loans below $100,000.

Value is in the Eye of the Beholder

Martinka Consulting

My business is special, it’s not like others, and it’s worth more than conventional wisdom holds. The investors had very little to do with the day-to-day operations and the decision to sell was purely a business decision with little to no emotion involved. Compare this to the typical small to mid-sized business sale. These feelings run the gauntlet of business type, size, and profitability.

Beat Them, then Join Them

Martinka Consulting

Not sure if it was their long-term strategy or not but with Amazon entering the bookstore business… Amazon starts selling books, cheap. What’s the difference, besides size, between these huge operations and our businesses? Small businesses have the opportunity to be nimble but too often we get caught up in the day-to-day. When it comes time to sell the business not letting go means more buyer scrutiny and often a lower price.

Jobs, Skills, and Worker Shortages

Martinka Consulting

Yet last year restaurants couldn’t fully staff their operations because people didn’t want to work as they’d have to give up their State benefits.). In the day-to-day world of small business here’s what I’m hearing: Owners are incredibly interested in how to attract, retain, and motivate good employees. My group of business owners repeatedly asks for presenters on attracting and retaining people.

UberRUSH: Uber's On-Demand Delivery Service Rolls Out in New York, Chicago, and San Francisco

MishTalk

For a little over a year, Uber has been operating its UberRUSH delivery service as a pilot program in New York City. Today it’s making it an official part of the company, and expanding the courier service to Chicago and San Francisco, allowing customers to receive deliveries from local businesses. But unlike Postmates, when you open the Uber app, you won’t be flooded with a number of businesses that can deliver something to you.

For Some Platforms, Network Effects Are No Match for Local Know-How

Harvard Business

On March 25 mighty Uber bowed out of Southeast Asia by selling its operation in several countries to local rival Grab. In 2016 the company sold its China operation to Didi Chuxing because of the fierce competitiveness of the local player. A year later, Uber admitted defeat in another region, selling its operation in Russia to Yandex. And what can Grab teach us about the future of platform businesses? SinghaphanAllB/Getty Images.

The Four Biggest Mistakes Business Buyers Make by Richard Parker

Martinka Consulting

Guest Column: I have been involved in buying and selling business for more than twenty years as an owner-operator, advisor and investor. Over the past ten years, I have worked with thousands of prospective business buyers through the various guides my company publishes. Choosing the Wrong Business. This is undoubtedly the biggest challenge prospective business buyers face and it is remarkable how many end up buying the wrong one. Overpaying For A Business.

So You Want to Start a Nonprofit?

The Nonprofit Consultant

When people approach Mr. Anderson with an idea for a new nonprofit, he says in his blog, "It has become my standard operating procedure to sit down with these nice, well-intentioned individuals who call me asking for help and beg them to please not start another non-profit organization." How many of our mayors would be re-elected begging entrepreneurs to not start yet another small business in their city? Just as in the small business sector.

6 Steps to Make Your Strategic Plan Really Strategic

Harvard Business

And in a small business, like a convenience store, it initially is: customers, employees, suppliers, and owners. Its target customers aren’t mums and dads lodging their annual tax returns, or small businesses that need help with their accounts. They’re so used to thinking operationally rather than strategically that putting “self” first seems like heresy. Alicia Llop/Getty Images.

Foundations of Consulting ? Part 5: Internal and External Consultants

Consulting and Organizational Management

The typical small business usually does not have the extensive range of resources that warrants having an internal consultant. With recent emphasis on the importance of using a highly facilitative and collaborative leadership style when guiding change, leaders are beginning to operate more like internal consultants for change then ever before. Building a Business. Business Communications. Business Ethics, Culture and Performance. Business Planning.

How One CEO Prepared Her Organization for Her Retirement

Harvard Business

This may be especially true in relatively small businesses, like mine. I had taken one step toward this two years ago, when I named one partner president and another chief operating officer. But in recent years, as I’ve become more involved in business development, client relationships, and managing the complexities of operating our company, I have had less time for researching new investment ideas. Juj Winn/Getty Images.

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ECB Pulls Out Pea Shooter, Fires, Misses Target

MishTalk

Pea Shooter, Not a Bazooka The TLRTO refinancing operations will not apply to mortgages out of fear of overstimulating housing. ECB Goals The ECB hopes to spur lending, especially to small businesses, stop deflation, cheapen the Euro, increase exports, and improve economic growth.

Digital Leadership Is Not an Optional Part of Being a CEO

Harvard Business

The rapid pace of change in business and technology means that more and more companies will find themselves being disrupted. In fact, our latest research with MIT , in which we interviewed more than 1,000 CEOs (from 131 countries and 27 industries, in organizations of varying sizes), shows that 90% of executives believe their businesses are being disrupted or reinvented by digital business models, and 70% believe they do not have the right skills, leader, or operating structure to adapt.

How Not to Run a Company

Martinka Consulting

Here are five examples comparing political parties to businesses. Continually changing direction will put you out of business. When it comes time to exit you’ll be glad you did because growth is one of the key elements a buyer wants in a business. Try this in your business someday. In business it’s the owner who has separate rules for herself, her family members, and favorite employees. You know where this is going when it comes to a business.

Why the U.S. Needs More Worker-Owned Companies

Harvard Business

One way to narrow the divide is through the use of worker buyouts, in which ownership of a company transfers from a single person or a small number of people to the workers of the company. Workers and employees have more opportunities today than ever before to become capitalists and invest in the businesses that employ them. Baby Boomers at or near retirement age own nearly half of the privately held businesses in the United States. Klaus Meinhardt/Getty Images.