Most business owners do not have a realistic idea of what their businesses are worth. Owners almost always think that their business is worth quite a bit more than the market would likely bear. There are several reasons for this.
I was recently working with a manufacturer helping him crack the code on profitability for his business. One thing that struck me was the dual marketing strategies he was deploying within his smallish business. It was a challenge for him to deploy both strategies effectively. Here’s why.
The first step in growing your business is to identify where the most likely opportunity for additional revenue might be. There are several possibilities you can consider, all with varying levels of risk, effort, cost and potential rewards.
So, you have a great idea for a start-up or you want to expand your current business. You have the perfect business plan and are confident that both revenue growth and profitability are sure-fire. Problem is, you don’t have the capital to fund the start-up or expansion.
If that is the case, here are 10 ways to fund your business. Which one is right for you?
I was the guest speaker at a class on Entrepreneurship at a local community college the other day. It got me thinking about the difference between an entrepreneur and a small business owner and what it takes to be either one.
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