1) Humility in the midst of crisis is also one of our greatest tools, but we tend to dismiss it due to tremendous false pride and fear. 2) The court...
More than 80% of family businesses don't make it beyond first generation. How can you avoid that? Allow your children to become successful in their own right. That's very, very...
The difference between true customer loyalty and mere customer satisfaction is like the difference between lightning and lightning bugs. Loyal customers spend up to six times more than satisfied customers...
Choosing a location for your business or franchise is no different than choosing a neighborhood in which to purchase a home. It makes all the difference in the level of...
Get a good credit-card authorizing company that you can grow with. Most of them initially set a limit on the amount of money you can make per month. If you...
Think of your marketing as a short flight of stairs into your business. First, you help prospects understand the problem you solve, explain the solution you provide, establish your credibility,...
A company needs a team of five full-time employees (this includes the founders) or more before venture capitals typically will invest. Too few employees make an unstable company and cannot...
Rule No. 1: Sales is the top-priority job. In every company, sales is the only job that must be done well. A lot of companies think sales is a necessary...
I think there's just tremendous value in getting out of your business and working on it instead of in it. And to do that, you have to get outside the...
Here is one that was passed down to me, and it is a lesson I have had to learn the hard way. Most startups fail because they give up. It...
When it comes to hiring, which in itself is probably the most important decision a business owner can make, it is most crucial to hire someone who has the right...
Unlike their parents and grandparents who waited till their 60s to exit their businesses, today's "cash-out generation" of entrepreneurs exit their successful businesses in their 40s, often to pursue new...
Marketing and sales are about making emotional connections. Ultimately, people select products and services based not only on the business at hand but also on their emotional needs. Great salespeople...
I'm a banker by training, and I always say you really need a quality banking relationship. And if you don't have a relationship you're comfortable with, you need to change....
I think the absolute key to running any business is having the capability to look after people -- to inspire people, motivate people, and to put people first. And if...
Successful companies take calculated chances when launching new products or beginning new ventures. Many times new ideas are successful and contribute to a company's increase in revenues and profits. However,...
Look at what end of your business is growing organically. Find out where things are flowing naturally, and then veer in that direction. Don't push the side of the company...
For entrepreneurs and small-business owners, balancing work and nonwork roles can be a heightened challenge. Starting up and running one's own business can at times seem to be an all-consuming...
The success or failure of a new specialty retail store is the result of how much time the new store owner spends on developing creative ways to build their business,...
It's never too early for an entrepreneurial board of advisers, if you think of them as a small circle of experts from whom you gain guidance and mentorship that's relevant...
There are only three ways to increase sales. Increase the average transaction amount. Get your customers to purchase more frequently. Or get more customers. But if you can create a...
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