Profit is ALWAYS sexy.

How do you really know you have a solid, profitable idea for a product or service? Easy answer: Uh, someone pays you actual money for your product or service idea. MONEY!!! Better answer: PROFIT = REVENUE – EXPENSES. Basically, whatever is left after you subtract your Expenses (Costs and Liabilities to actually deliver the Service/Product) from your Revenue (All[…]

“I did it, alone”

“I did it, alone” …..said no successful business owner. EVER. The fact is, , your External business team, (clique, biz gang, posse) is important to your business health. An external business team consists of service providers such as an accountant, attorney, mentor, insurance agent, banker etc. You might feel that without funding or connections, your[…]

Free Revenue

Where do you spend your REVENUE-TIME?

The biggest “A-HA” moments (or “OH-NOOOO” – depends on their outlook) by my business clients happen when they see how MUCH time they waste on NON-REVENUE generating activities. What’s NON-REVENUE, exactly? Anything that doesn’t directly make money for the business OR honor the owner’s strengths that create revenue. During last week’s Workshop: GOAL SETTING FOR[…]

company from a business

When SHOULD you REALLY file a company from a business?

This is the burning question of all time, . And….tragically it’s got a terrible answer: IT DEPENDS. From last week’s edition, we know that expanding really depends on LIABILITY, RISK and your own PLANS for GROWTH. Here’s 3 simple questions to start you off: 1. Are you creating a duty or obligation to another person or[…]

company startup

“I can’t afford to own a company” and other lies in startup-land

“I’ve got a sole proprietorship and a website…do I really need a company?” – Ted – graphics designer in Boston Ted was a student at one of my business formation classes in Boston last week. He went on to explain that his vision was to “grow it into a business which feeds my family and I[…]