News and information related to Small businesses and their owners.
You probably didn’t mean to overstock. Maybe you were preparing for a surge in demand, a customer delayed a large order, or your procurement team was trying to lock in better pricing. Surpluses have a way of sneaking up on businesses and holding working capital…
We all chuckle at AI-crafted images that feature people with six fingers on each hand or, worse, feet where their hands belong, but the growth of AI, especially ChatGPT, is no laughing matter. In less than 18 months, the tool has grown from 100 million…
If you’re running a business, especially one that’s growing or evolving, you already know how easy it is for things to stall or break down. A continuous improvement culture lets you spot the roadblocks that create those issues and address them early on, so they…
Even though most businesses think they’re prepared to manage disasters, only a quarter actually are, the U.S. Chamber of Commerce Foundation reports. Supply chain delays, economic uncertainty, or even a key client defaulting on a payment can send shockwaves through most businesses. A strong business…
“Beware of little expenses; a small leak will sink a great ship,” Benjamin Franklin once said. People often take this quote at face value and focus on the importance of monitoring expenses and implementing cost-cutting strategies. This is part of it, but the often-overlooked wisdom…
No matter which side of the table you sit on during contract negotiations between two businesses considering a partnership, payment terms will always be a major focal point. Businesses providing goods and services want to be paid faster, while businesses receiving them want to delay…
“If you’re starting a business and you take out a loan, you’re a moron,” Shark Tank investor and long-term entrepreneur Mark Cuban says. While his words may come across as harsh or even crass, he goes on to make a fair point: “There are so…
“’Tis skill, not strength, that governs a ship,” historian Thomas Fuller wrote centuries ago, yet the wisdom carries through today, especially in business. Just like a captain navigating unpredictable waters, your business success depends on the skills you master, not just the strength of your…
Profitability slipping or cash flow feeling tight? One of the biggest culprits for small and growing businesses is overhead. By mastering the art of managing business overhead costs and using practical cost-saving strategies, you can boost your bottom line and create financial stability. On this…
Some stress is inevitable when you’re running a business. But, letting it go unchecked can have serious consequences for you and your company. Below, we’ll cover a few reasons why it’s essential to destress, then explore some proven business owner stress relief tactics to help…
