When people talk about having all their eggs in one basket it can mean many things. A lot of times it relates to Investments, Career Choices or other personal matters. But the same is true for businesses. Are you aware of these business risks, and doing something to protect your business from an inevitable crash, or are you following Humpty Dumpty’s advice? Here are some areas you should consider in your planning: Customer Concentration Leadership Staffing Products Financial Resources Technology Customer Concentration is an easy one to understand. If you have only one or two primary customers, your business is
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How are you starting off your year?  Now is the time to dig in and get a strong start.  But there are so many things that you could do, and there are only so many hours in the day and days in the week.  Here’s a solid approach to get yourself going and growing. Concentrate on these two factors:  Fixing Problems Being Strategic Fixing Problems Fix what’s been keeping you up at night to start the new year off right!!  Every business has issues.  Some have been roadblocks for years, some are relatively new ones.  Identify the issues that you have been experiencing over this
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More clients depend on software for their operations. The amount of data produced is staggering. But it takes sophistication, beyond Excel to excise precisely what’s needed in a data set for meaningful analysis. At times it can be like finding the proverbial needle in a haystack. I started out as a software developer back in the days when creating your own programs was the only way to procure and sort data from various systems. As I transitioned to leadership financial roles, I’ve discovered that I often dip back into my engineering background, especially as meaningful data becomes key in financial
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Entrepreneurs, start-ups, and founders of privately held businesses can be excellent at projecting and planning for the success of their business. But in the honeymoon days of a new business, many partners are reluctant to consider what will happen if a dispute arises. To help ensure true success, however, businesses must plan for disagreements and even, in the worst case, the dissolution of the business. To do otherwise could be a costly mistake. With a little planning on the front end, and a well-considered operating agreement, likely disputes can be avoided or resolved without placing the business in jeopardy. To
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“The 500 Hats of Bartholomew Cubbins” by Dr. Seuss was one of my favorite books as a youngster. It’s the story of a boy that tries to take off his hat when the king comes by, but another one just pops up in its place. He gets into trouble, as he keeps taking the hats off, and new ones appear on his head. Each one was grander than the one before, until the final one, which was the most glorious hat of all. Bartholomew is a bit like every entrepreneur I know. As you start a business, you’ll be wearing
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