Small Business Boomers

Do you take your small business seriously?  Do you put business practices into place?  Do you think like an entrepreneur?

Set goals and know what you want to achieve
Set up a business plan (You’ll need this if you want to get financing.)
Keep accurate track of income and outgo.
Set up a bookkeeping system.
Keep specific times of business, especially if you have walk-in customers
Set up a web site and/or blog
Be persistent and consistent

What suggestions do you have for entrepreneurs of small businesses?

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Back in 1984, Alvin Toffler wrote The Third Wave, in which he said we were in the midst of a change from the Industrial Society to the Information Society. The world of business has been heading in this new direction for over a quarter century. Are you?
In the October 2008 issue of Entrepreneur Magazine, Robert Kiyosaki (author of Rich Dad, Poor Dad and other books) says that older business owners need to “get with it” (my phrase, not his). Are you?
Do you live in the past? Or are you thinking about change in the future? …read more

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Myth: Entrepreneurs are risk takers.
The Truth: The derivation of the word “entrepreneur” includes the concept of ‘risk-taking.’ And many people assume that entrepreneurs (small business owners) are risk-takers. Like the late Evil Knievel who cheated death many times before his recent (November 2007) death at age 69.
But look carefully at this assumption. What kind of risks does a new business owner take that the “average” person working for a company not take? Well, you could lose your company if you don’t do a good job of managing cash flow and getting in customers/clients. So, …read more

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