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:…Continue
Added by Mike Daley on August 30, 2010 at 11:00am — No Comments
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…Continue
When I was doing my research for The Richest Man in…Continue
Added by entrepreneurdex team on August 14, 2010 at 4:00pm — No Comments
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…Continue
Added by Mike Daley on August 13, 2010 at 3:00pm — No Comments
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…Continue
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…Continue