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Lack of awareness about your credit score can impact your business’s goals and vision.
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SCORE Central Coast
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SCORE Central Coast
Some entrepreneurs go into business with the intent to build, sell, and move on. Others spend decades building and running their businesses. Regardless of your intention, you need to have a strategic exit plan.
A recent study at Stanford found productivity per hour declines sharply when the workweek exceeds 50 hours, and productivity drops off so much after 55 hours that there’s no point in working longer.
We operate in a business climate where the pace is accelerating exponentially while seething with the competition. While many companies want to keep up, only a few actually do.
We live in uncertain times. Particularly as entrepreneurs. Even when we have stability, we worry it may be fleeting, since so much of our professional lives are outside our control. Hiring a new team member is a gamble, not just for the balance sheet, but because we may not be able to guarantee their paycheck.
While many large businesses provide good customer value, consolidation in industries from banking to mobile phone carriers has decreased competition and in many cases worsened customer experiences. Some large businesses like Zappos and Starbucks excel at customer experience, but most customers find increasingly larger organizations offer significantly less personal service.
When you enjoy and are passionate about your business, prospective customers can tell. Your enthusiasm makes them feel good about supporting you.
The hardest part of starting a business is not coming up with the idea. Despite the pain, many feel during the process, it is not preparing a good business plan (particularly if one has a SCORE mentor). The hardest part is getting the scratch.
The salary you take out of your business needn’t be huge, but it should be meaningful to you.
What’s in a name? More than you might expect, especially when it comes to your brand’s future. For many business owners, choosing a great name is a challenge. You want something catchy, but not too out of the box.
You need social media engagement, but you don’t want your social media to become such a massive time consumer that you don’t feel able to handle the rest of your business. A few simple tools will keep you from feeling you’ve acquired the Ancient Mariner’s albatross.
Some experts call it an epidemic, with small merchants as the easiest targets. Business owners tend to think data security problems mostly involve hackers indiscriminately targeting different businesses.
