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August 2010 Blog Posts (6)

Why Use a Business Adviser?

By Mike Daley, owner of MJD Business Advice

Andrew Carnegie’s life is a rags to riches story which resulted in Andrew becoming, at one time, the richest man in the world. An interesting anecdote is the epitaph on his gravestone. It reads:…

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Added by Mike Daley on August 30, 2010 at 11:00am — No Comments

Are All Your Eggs in One Basket?

Many small business owners share one problem, especially in their early days. It’s being overly reliant on a single customer or supplier for much of their business. If you are in that position, your business is operating with higher risk. Just as with investments, you don’t want to put all your eggs in one basket. Your goal should be a well-diversified portfolio of customers and suppliers.

That’s in an ideal world. In the real world, you may have to live with the situation, at least…

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Added by Mike Daley on August 23, 2010 at 11:30am — 1 Comment

The Richest Woman in America

by Randy Jones, author of, The Richest Man in Town

When I was doing my research for The Richest Man in…

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Added by entrepreneurdex team on August 14, 2010 at 4:00pm — No Comments

Cash Flow Management- The Most Important Survival Tool for a Small Business

What do you think is the most important life blood of a business? Is it profit, sales growth, or customer loyalty? While these are several important arteries of blood flow for a business to survive, they are not the heart which keeps the business alive. You can have all three and still go out of business if you do not have the one thing all companies need to live; which is cash! It takes cash to pay your employees, turn the lights on, open the door, and keep it…

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Added by Mike Daley on August 13, 2010 at 3:00pm — No Comments

Hollywood: boring because they play it safe

Lessons we can apply from Tinseltown

Why are the latest Hollywood movies falling flat? I'm sure you have realized that Hollywood movies just aren't what they used to be. Because we're in "the summer of recovery," producers are playing it safe in order to reduce risk.

The hazard of a safe investment.

Producers only want to read scripts that are similar to movies that have previously made money. They…

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Added by Jana Arnold on August 11, 2010 at 7:30pm — 1 Comment

Versatility: The Door to Opportunity

In the book “Art of War” Sun Tzu tells us that wise generals are versatile. The general who can easily adapt will know how to employ his forces. The general, who does not, will not be able to take care of opportunities.

This is exactly the same for any business, from the owner/operator small business to a multi-national company. Knowing what your customer wants and the actions of competitors are very important but not adapting to a business world in flux can spell doom for a…

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Added by Mike Daley on August 11, 2010 at 11:13am — 3 Comments

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