Moving From Profitability to Sustained Growth

There comes a time when every business must think about the question of profitability versus growth. Across the world, global capital abundance and economic growth will show whether your business is better off in either direction. At the moment, there’s an unprecedented capital overabundance. Put simply, this means that there is more capital in the … Read more

Financial Steps for Starting Your Business

Once you make the decision to start your business,  one of the most important next steps is getting your financial strategies in place. There are several things you should do — in no particular order.  Open a Bank Account You never want to mingle your personal money and your business money.  You need to keep … Read more

The Zero Cost Business Startup Myth

When I talk at various small business events or tell others what I do, people are curious about how to make money working from home with a computer.  They seem to think that anyone can start a business for no money and little time. That vision is a myth. The reality is that it takes … Read more

Stretching Your Inventory Dollars

piney-woods-gift-basketInventory is the center of your business.  Without it, you couldn’t make a gift basket BUT this is the one area where your budget can be hurt the most.  You have to rein in that desire to buy every “cute little thing” that you see that could “add just the perfect touch to a particular basket.”

The first secret to staying within a budget while building your inventory is to create a plan.  The first decision is not what baskets you are going to offer but that very first decision is WHO IS YOUR TARGET MARKET.  What group of people will you be selling to first?

Remember that you can’t be everything to everybody.

And you also can’t offer everything to that target market — not in the beginning, anyway.

Read more

Independent Contractors

The IRS tells us that “it is critical that business owners correctly determine whether the individuals providing services are employees or independent contractors. Generally, you must withhold income taxes, withhold and pay Social Security and Medicare taxes, and pay unemployment tax on wages paid to an employee. You do not generally have to withhold or … Read more