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Running a small business requires continual vigilance and response
to challenges--both internal and external. Whether you're selecting
a payroll service or buying office supplies, it's important to make
good decisions.
- Accepting Credit Cards
- This article explains how to start accepting credit cards. More...
- Choosing a Bank - Looking for
a good small business bank? Here's what to look for when selecting
a bank for your business. More...
- Small Business Time Management
- Managing a small business is much easier once you learn how
to manage your time. More...
- Small Business
Financial Controls - Financial controls for small businesses
and startups are a prerequisite to attracting investors. If you
don't have good financial controls, you can quickly find your
startup is starting down the path to financial ruin. More...
- Stock Options
- Stock options are an important part of operating a startup business.
We're working on an article now that talks about how to best use
stock options to grow your company. Stay tuned! More...
- Payroll - A quick plug
for a great local Chicago startup that can help eliminate one
of the biggest pains of running your small business -- SurePayroll
is a great solution for payroll. We didn't invest in them (unfortunately)
but we highly recommend them.
- Small Business
Retirement Plans - Entrepreneurs don't usually get big fat
pensions. It's important to plan ahead for your retirement and
help your employees to do the same. More...
- Factoring Receivables
- Receivables factoring lets you unlock cash that's tied up in
your unpaid invoices. Freeing up cashflow in this manner can be
an effective way to solve short-term financial crunches. More...
- Negotiation Tips - Mastering
the art of negotiation can have untold positive effects on your
business and your life. These useful negotiation tips get you
started on the road to improving your negotiation skills. More...
- Buying an Office Copier - Buying
an office copier? Whether you are purchasing a new office copier
or buying a refurbished copier, this article provides some great
tips on buying office copiers. More...
- Geographic Expansion
- Geographic expansion is an attractive business strategy. If
you are making money in one city, why not double your money by
setting up your business in two cities? If only it were that easy...
More...
- Buying Computers
for your Small Business - Looking for tips on how to buy computers
for your small business? This article is full of great buying
advice if you are in the market for a new computer for your home
office or for a traditional small business office. More...
- Learning New Small
Business Concepts - Seasoned entrepreneurs offer this small
business advice to new small business owners: never fall into
the trap of thinking that you know everything. More...
- Small Business Fraud
- Small business fraud is on the rise. If you don't watch your
business closely, you may find that profits are slipping out the
back door -- in your employees' pockets! More...
- Negotiating Tips - Looking
for small business advice? A great way to improve your business
is to become a better negotiator. Our negotiating tips get you
on the path to mastering the art of negotiation. More...
- Small
Business Technology Plans - Small business technology plans?
There's no better way to outperform competitors and achieve efficient
small business growth. More...
- Small Business Inventory Management
- Many small business consultants contend that creating an efficient
system for counting and maintaining inventory items is the ultimate
key to your business success. More...
- Cutting Fuel Costs - How
can I keep fuel expenses down? That's a question asked by many
small business owners -- more frequently now that gas prices are
increasing. More...
- Retirement Plan Options for Small Business Owners - How do small business owners save for retirement? What sorts of savings plans are available for small business employees? You've got questions. We've got the answers. More...
- Business Equipment
Maintenance - Given the amount of money that small businesses
invest in equipment, you’d think they’d take better
care of their purchased equipment. More...
- Improving Small Business Shipping - This advice for small business owners can't be beat. It's time to shape up the way you ship out. We offer five great ways to streamline your shipping system. More...
- Small Business Bulk Buying - Sam's Club, Costco, BJ's and other bulk buying leaders would love to have more small business owners walk in their doors. But is bulk buying a smart move for entrepreneurs? More...
- Reducing Credit Card Chargebacks - Reducing credit card chargebacks should be a top priority for every retailer. We offer some helpful tips for avoiding credit card chargebacks. More...
- Priorities - Balancing business ownership with the rest of your life is a challenge. Only you can create or restore equilibrium to your lifestyle. Here's how to put your work life and your personal life into perspective. More...
- Wearing Too Many Hats - Wearing multiple hats in business is a common phenomenon. Let's say that a CEO at a company is working on product development, sales and raising capital. Is he doing the right thing or is he stretching himself too thin? More...
- Investing in Productivity Tools - Wondering how to increase productivity at your small business? Investing in productivity tools is a smart move. You'll find you get more production out of your workers and the result will be a stronger bottomline. More...
- Quality Management Systems - Quality improvement starts with a good quality management system. If you are serious about improving quality, reading our article on quality management systems is a great first step. More...
- Forming a Purchasing Department - Forming a purchasing department is a smart move if your business actively purchases goods and services. By approaching purchasing systematically, you can reduce your expenses and greatly improve your bottomline profits. More...
- Credit Card Payment Gateways - Credit card gateways let you process payments online. If you've been wondering how to take credit cards online on your website, let us get you up to speed on the fundamentals of online credit card processing. More...
- Can MBAs Improve Your Business? - Do entrepreneurs benefit from an MBA? Definitely. While some great entrepreneurs have never taken a business class, most entrepreneurs can learn tons from a good MBA program. More...
- How to Register a Business with Directory Assistance - If your business is not in the White Pages or registered with Directory Assistance, you will have difficulty obtaining customers and business credit. We explain how to get a business into the White Page listings and how to register with Directory Assistance. More...
- Private Jet Membership Programs - We've got the insider story on private jet memberships. If you want to rent a private jet as part of a private jet charter program or a corporate jet membership, we tell you how it's done and how much it will cost you. More...
- Best Alternative to Negotiation - Getting good at negotiations can help you to grow your business. Understanding the Best Alternative to Negotiation is a great start on your path to better negotiation skills. More...
- Investing in Stocks - Investing in stocks is something that many entrepreneurs enjoy doing, once they've become profitable. We offer a few interesting ideas on how to choose stocks. More...
- Recognizing and Avoiding Business Scams - Recognizing and avoiding business scams is easy once you've been indoctrinated into the important art of scam avoidance. More...
- Writing Business Emails - Wondering how to write effective emails? We offers some excellent tips on writing business emails. More...
- Buying Stocks Based on the News - Buying stocks based on the news can be an excellent investment strategy. We discuss making smart investment choices based on current events. More...
- Advice on Business Recordkeeping - Managing archives and expense records is an essential skill for anyone who is running a small business. We offer some great advice on business recordkeeping. More...
- Business Owner Leisure Time - For entrepreneurs, finding leisure time can often be a difficult task. But if you don't take a break, you may end up breaking your business. More...
- Entrepreneur New Years Resolutions - Looking to make a few New Year's business resolutions for the upcoming year? The New Year is just around the corner, so entrepreneurs need to start thinking about their personal and business resolutions for the upcoming year. More...
- Process Mapping - On a mission to improve supply chain management within your organization? Mapping out your processes is an inexpensive way to make great strides and improvement. More...
- Balancing Supplier Relationships with Cost Savings - With small businesses, every cent counts. As a result, small business owners must pay close attention to how they purchase materials and supplies. There is a fine line between cost-savings and good supplier relationships, which are critical to small business success. More...
- Quality Control Management - Quality control does not get as much attention as it should with small businesses. The level of quality embedded in your system greatly determines how you are perceived in the market and how well your profit margins are doing. By embracing quality control as a primary issue, small businesses can gain significant improvements in these areas. More...
- Outsourcing Advice for Small Business Owners - Many small businesses outsource various functions of their business, typically paying a premium. In order to gain a competitive advantage, small businesses must get creative and find a path to efficient and cost-effective outsourcing. More...
- Operations Management for Service Industries - By increasing quality and efficiency, small businesses in the service industry will experience tremendous improvements, including increased customer satisfaction and cost-savings. Embracing these fundamentals of operations management is critical to small business success. More...
- Importance of Continuous Improvement - Thinking about how you can improve your company? In order to increase profit margins and develop better customer satisfaction, small businesses must embrace the idea of continuous improvement. More...
- Utilizing Intellectual Capital - Many small businesses underutilize one of their most valuable assets: employee intelligence. By creating an atmosphere where your employees generate and contribute ideas, your company will see significant improvements that may have otherwise gone undiscovered. More...
- What a Garage Sale Can Teach a Business Owner - A good entrepreneur knows how to use every situation as a learning experience, or an opportunity to improve their product or service. Here we take a look at what an entrepreneur can learn from a garage sale. More...
- Running an Efficient Office - The layout of your office can greatly affect how well your company operates. By improving the way your office operates you can increase productivity, reduce costs and improve quality. More...
- Money Saving Tips for Business Owners - Cash is too important to the small business for it to be wasted on unnecessary products or services. Make sure you're not overspending in areas that tend to slip between the cracks. More...
- New Product Development - New product development is most successful when, throughout the design and engineering of the new product, multiple company departments are involved to ensure that product roll-out and production is smooth and defect free. More...
- When to Increase Capacity - The decision to increase your company's capacity is critical and costly. Before making this leap, make sure it's the right decision for your company. More...
- Show Me the Numbers - By utilizing numerical data to make major decisions, the small business can avoid costly decisions. Coupling data with entrepreneurial intuition can be an extremely powerful tool. More...
- How to Collect and Interpret Time Study Data - Time study data is the collection and analysis of your various processes. By utilizing time study data you can have a much stronger knowledge of your operation and better plan for the future. More...
- Supplier Relationships - The quality and timeliness of your supplier can greatly affect your product or service. As a result, you want to make sure your supplier relationships are positive and you're being set up for success. More...
- Inventory Management - There are many costs associated with carrying too much inventory. On the flip side, not carrying enough inventories can result in lost sales. As a result, the small business must find the correct balance in order to satisfy their customers and reduce their costs. More...
- Workplace Safety - Even if you haven't received an inspection or safety audit, safety in the workplace is extremely important. Become proactive when it comes to workplace safety and avoid serious problems in the future. More...
- Cross-Training Employees - Cross-training your employees can greatly increase your flexibility and responsiveness. Adapt a cross-training program in order to improve your company. More...
- Reducing Set-Up Times - In today's business environment, the ability to produce products in smaller batches results in increased flexibility and responsiveness. By reducing set-up and change-over times, you can greatly improve your production process. More...
- Bill of Materials - Bill of Materials are extremely important for tracking the cost of your product. In addition, they can be used to plan for material procurement while reducing the possibility of errors. More...
- Historical Demand and How to Remove Abnormalities - Historical demand is the basis for many important small business decisions. You want to be sure you are capturing this data correctly, so it can be properly analyzed. More...
- The International Language of Business - Managing a workforce that speaks many different languages can be a challenge. Set up your operation with the international language of colors, shapes and symbols. You'll be amazed at the results you can get from these simple communication tools. More...
- When and How to Buy New Equipment - When increasing capacity, there is a tendency to add an additional piece of equipment. Before you make this major investment, understand that operating two machines is not always better than one. More...
- Poor Product in the Mix - Many small businesses have an unsuccessful product in their mix. Before launching a new product, set a point where the new product would be dropped from the line. By establishing this point before launching the product, you avoid keeping a losing product for too long. More...
- Personal Protective Equipment (PPEs) - The money you spend on personal protective equipment may be an afterthought. This purchasing decision can have an adverse effect on your employees and productivity. As a result, these purchases need to be handled wisely. More...
- Receipt of Goods - How effectively your company receives shipments can have a major effect on your bottom line. Make sure your receiving procedures are in place and allow for a smooth receiving process. More...
- Employee Utilization - Switch your company focus to keeping your employees busy instead of your machines. Maximum machine utilization leads to overproduction and added costs while maximum employee utilization leads to cost savings and a stronger workforce. More...
- Matrix Structure for Technology Firms - Intellectual capital for technological firms is rare and costly; this makes it all the more important for them to optimize resource utilization. The matrix structure of organization helps tap the intellectual capital more efficiently. More...
- Reinvesting Profits Into Your Business - What's the best use of your small business profits? While you can upgrade your car, remodel a home or take a vacation, the best use of profits is often to put the money back into the business More...
- Outsourcing - Entrepreneurs wanting to start a small business in today's world must deal with the topic of outsourcing. The outsourcing example in this article deals with the relationship between Xerox and EDS, a global business and technology services company. More...
- Planning for Quality - When designing a new product or process, build quality control into the design. By addressing quality issues early in the development process, you can avoid many headaches down the road. More...
- Eliminating Bottlenecks - Our operation is only as fast as our slowest process. To be successful, we need to target and eliminate bottlenecks. More...
- Reducing Variance - If you have manual labor involved in your operation, there's a good chance you have a lot of variance in your process. Don't accept variance as part of the inevitable; seek to reduce variance to improve your quality. More...
- Getting Supplier Input on New Product Designs - When designing a new product it's important to incorporate many different areas. You should include your suppliers as well, as they can provide invaluable information. More...
- Eliminate Waste From Your Operations - Part of having good Operations Management is eliminating wasted from your processes. Make sure your company is equipped to seek and eliminate waste in all areas of your company. More...
- Reducing Clutter in Your Operation - Clutter can get in the away of running a smooth and efficient operation. Whether on the manufacturing floor or in the office, the reduction of clutter can lead to a much more efficient operation. More...
- Before You Buy New Business Software - There are many companies who invest a lot of money on new and improved software. Before making this investment, make sure your current software cannot perform your desired functions. More...
- Mistake-Proof Your Operation - By mistake-proofing your Operation you can make it difficult for defects to get passed on to the customer. With reduced defects you'll find your quality and customer service levels both increasing. More...
- Kaizen Line Stoppages - The Japanese have been on the forefront of Operations Management for the past few decades. One of their many tools is the concept of the Kaizen line stoppage. Learn about this technique below. More...
- Managing Temporary Labor - Depending upon your particular business, you probably use a combination of full-time, part-time or temporary labor. Finding the right balance can mean the difference between losing money and turning a profit. More...
- Treat Your Suppliers Well - Small businesses and entrepreneurs need suppliers the most. There must be a good relationship between the small business and suppliers. Otherwise, the entrepreneur and small business will greatly reduce their chance of achieving success. More...
- Tips to Save on Energy Bills - Skyrocketing crude and energy prices are eating into the bottom lines of small and large business alike. Energy efficiency and conservation have a direct impact on profitability and make businesses environmentally benign thereby mitigating risk related to public grievances. More...
- Pareto Analysis: ABC inventory - Not all products are created equal. A relatively small percentage of products and materials get used the bulk of the time. By switching our management philosophy to recognize this distribution, we operate more efficiently. An example of this is applied to inventory control, as discussed in the following article. More...
- Measuring Supplier Performance - How well are suppliers perform has a tremendous impact on our own performance. Make sure you're measuring and tracking your supplier's performance. More...
- Improving Product Quality - Companies that use a number of suppliers for the same material may be jeopardizing their quality. Whether multiple suppliers are used because of planning issues or a low-cost approach, the negative ramifications can be tremendous. Consistent materials are a necessary component of good quality control. More...
- Product Samples - Sample products are a necessary part of the sales process. They can be costly, however, so they should be managed well and be a part of the planning process. More...
- Safety Stock - How much safety stock you carry can seriously impact your customer service and bottom line. Identifying the appropriate amount of safety stock to maintain is crucial to a company's success. More...
- Economic Order Quantity - The economic order quantity is a tool used in Operations Management to determine the most cost-effective purchase quantity. The variables within the formula are discussed in the article below. More...
- Bartering - Bartering is an exchange of goods or services without the use of monetary exchange. Before currencies came into existence, bartering was the usual means of commerce. It is still being used today, albeit limitedly, by some individuals and small businesses. More...
- Advice About Small Business Networking - Importance of creating a business network, and the differences in social networking and business networking. More...
- Are You a Valuable Customer To Your Suppliers? - We spend so much time evaluating our suppliers' performance, we often forget to measure ourselves. Are we being a good customer to our suppliers? This can greatly impact the way we are treated by our suppliers. More...
- Capacity Planning - The capacity of your company to meet expected demand should be measured in both the short-term and the long-term. Properly managed capacity can have great benefits for the small business. More...
- Level Scheduling Versus Chase Scheduling - How you schedule your workforce can have a major impact on your profitability. Two methods of labor force scheduling are discussed below. More...
- Don't Wait for Small Business Inspections - Even if your business has not been inspected by an outside party, you should be proactive in meeting various regulatory standards. More...
- How Does Your Business Measure Up As a Supplier? - When we supply another company with a good or service, we want to know how we are performing as a supplier. By measuring our performance as a supplier we can greatly improve the way we operate. More...
- Managing Logistics/Warehousing Off-Site - Properly managing your warehousing and logistics can deeply impact your bottom line. Make sure you're not losing your shirt while paying for these services. More...
- Good Manufacturing Practices (GMPs) - Good manufacturing practices are a great way to improve your company. By imploring GMPs you can have access to a greater customer base while increasing your quality. More...
- Managing Queues in the Service Industry - Long customer queues can lead to dissatisfied customers and lost business. Take measures to reduce your queues and improve your operation. More...
- Production Line Design - The traditional straight-line assembly formation can lead to inefficiencies. Learn about the advantages of the U-shaped line in this article. More...
- Safety Capacity - Planning your work below full capacity will allow your company to be more flexible and responsive. This concept is known as safety capacity and is explained in this article. More...
- Visual Inventory - Organizing your inventory in a fashion where you can see what you have can greatly improve your inventory management. Learn techniques for creating a visual inventory system. More...
- De-expedite and Prioritize - While most businesses know how to expedite product when a rush delivery is needed, few companies fully take advantage of de-expediting. Prioritize your orders in order to better manage your demand. More...
- Jidokas - Jidoka is the Japanese term for lantern. Jidokas alert managers of problems before they occur. Learn more about Jidokas in the following article. More...
- Learning Curves - Learning Curves are more than just a buzzword. By understanding the learning curve formula, you can create tests for potential new hires that will indicate their future performance. More...
- Sales Promises - Only the master scheduler should be able to make changes to the production schedule. Don't let informal promises to customers create problems for your production team. Have a system in place in order to avoid potential issues. More...
- How to Successfully Network - Learn how networking can help your company survive through ups and downs. In business, there is nothing more important than who you know and what they are willing to do to help you. Take these simple steps and build a successful network. More...
- Reducing Overtime - Using a lot of overtime can be a costly way to run your business. Reducing overtime requires improvements to your Operation and good management skills. Employees who are accustomed to receiving overtime checks can be weary when you take it away. More...
- Problem Solving Tips - Are you looking for a simple problem solving technique that can yield great results? The Five Whys is easy to use and can help you get to the root of many of your problems. More...
- Lot Coding and Lot Tracking - If you manufacture a product, it's crucial that you lot code your batches. By using lot codes you can better track your products. More...
- Hiring Great Employees on a Limited Budget - When a small business is hiring new employees, they need to get creative in attracting the best employees. While the small business cannot always offer as high of salaries as larger businesses, they can offer other incentives to attract great talent. More...
- Using Consultants - Many small businesses utilize consultants. Consultants can be a great help, but they can also be costly. Make sure you choose your consultants wisely. More...
- Finding a Contract Manufacturer - If you outsource your production, finding the right contract manufacturer is a critical. This article contains advice on properly managing this important decision. More...
- The Dangers of "Free Fill" Programs - In order to get your product into a new store or distributor, you are often asked to participate in a free fill program. Giving away product can be a high price to pay for a new customer. Make sure you've analyzed the cost-benefit before making this decision. More...
- Using Customer Input for Product Development - When developing new products, make sure you're obtaining customer feedback throughout the process. Remember, your customers are the ones who will buy the product, so their input is invaluable. More...
- Kanbans - Kanbans are an incredible tool used in Operations Management. Learn how this simple visual system can help your company. More...
- Introduction to Supply Chains - This article briefly delves into the realm of supply chains and their impact on an ever changing global landscape. More...
- Offshoring - This article tackles another difficult subject in offshoring. Although offshoring seems to strip America of jobs, it has other benefits that trickle down as well. Learn how offshoring can help your business to level the playing field. More...
- Outsourcing - This article briefly explains the costs and benefits of outsourcing work to other countries. While the outsourcing has a negative connotation, there are benefits to be reaped for companies large and small when dealing with outsourcing. More...
- Collaboration via Insourcing - Learn about a new phenomenon known as insourcing. It is a snapshot of something big that is happening worldwide and will soon impact your small business. More...
- Small Business Supply Chains - This article goes into the things that UPS does for businesses that may offer your small business the opportunity to optimize like you never thought it could. More...
- Forecasting - Every startup or small business wishes they had a crystal ball or a psychic in their pocket that would tell them what decisions to make to ensure long-term success for the company. Unfortunately, it is not good business to put faith in such things. Rather, there are trends in the marketplace and conducting forecasts can give startups and small businesses a good idea of what decisions to make for their respective companies. More...
- Annual Operation Plan - Startups and small business owners should consider having an annual operation plan and all of the benefits of having one. More...
- Good Project Manager - In the business world, good project managers are needed to ensure that every element of a specific project is running smoothly. We take a look at the role of project management in entrepreneurship. More...
- Reducing Overhead - Is your business overhead too high? We look at how you can decide whether or not you need to reduce overhead and some creative ways to do so. More...
- Shopping for Business Bargains - This article discusses getting what you pay for when you incur business expenses. We examine when you should shop for bargains and when it instead makes sense to spend the extra money for the quality products. More...
- Five Small Business New Year's Resolutions for 2009 - Happy 2009! Have you decided what you will do differently this year to grow your small company? Here are five small business New Year's resolutions that can help you do well in 2009. More...
- Small Batches Versus Large Batches - In manufacturing, there is always the issue of whether to produce in large batches or small batches. There are pros and cons to both and the answer depends on your particular business model. This article discusses both sides of the picture. More...
- Success in Managing Growth - The growth stage of a venture is an exciting time which brings about new challenges to the entrepreneur. Here we provide some tips on managing the growth of your venture. More...
- Small Business Phone Systems - Small business phone systems comprise more than just equipment. To be effective, your small business phone solution must leverage these best practices and proven processes, provided by Yodle.com. More...
- Making Your Business Green - People are increasingly interested in doing their bit to save the earth. Here are some ways you can incorporate eco-friendly ideas into your business.More...
- Keeping Your Company Aligned - Like many companies that start out with several founders, energy and passion drive the team forward developing their products, honing their marketing strategy and coming up with a launch plan. However, as deviations to the business and strategy plan become necessary and apparent, many startup-up teams struggle to keep the co-founders aligned on a single strategy. More...
- Should a Start Up Advertise? - Advertising has long been the dominant form of promotional marketing that firms of all sizes engaged in to build brand awareness and increase their customer base. However, many experts argue that advertising should only be used to enforce a recognizable brand, not to develop one. More...
- Affordable Solutions for Small Businesses - Long are the days where small businesses need to spend extravagant sums on communications, software, and travel to meet with clients. Today, there is a host of free and affordable software applications that greatly lower the cost of running a small business. More...
- Vehicle Service Contracts for Company Cars - Buying a vehicle service contract can be a smart move for business owners that have company cars or company trucks. However, it's critical that you understand what you are buying before you sign on the dotted line. More...
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