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3 RULES to keep your business moving forward

All businesses start small. Why it is that some entrepreneurs excel at finding new opportunities and are able to sustain growth even as their business matures, while others struggle along with a business that never achieves its true potential? Check out our infographic to see 3 rules to keep your business moving forward.

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5 Minute Business Check-Up

Let’s face it, financial statements can be confusing. The numbers change from year to year, and there are a lot of numbers.  And that’s a challenge that every entrepreneur faces. We’re busy running our business, and we don’t have a lot of spare time to spend trying to figure out what all these numbers mean. A great place to start is with our 5-minute business check-up.

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Why owning a small business in a rural community ROCKS! Reason 1

In last week’s blog, “What to do if there is no Plan B”, I shared parts of my entrepreneurial journey as a way of motivating our fellow entrepreneurs to reach for the stars. We got a lot of positive feedback, and many of you said you’d like to hear a few more stories. Denise and I both enjoy telling stories, and that got us thinking about our entrepreneurial roots. 

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What to do when there is no Plan B

Twenty-eight years ago I walked away from one of the best sales jobs in the country. A six figure income, generous expense account, car allowance, and all expenses paid reward trips. We packed all our belongings into the back of a U-haul truck and headed back to our home in Nova Scotia. Most everybody I knew thought I was crazy, especially when I told them I planned on starting an educational software company, in a tiny fishing village that to most people, was in the middle of nowhere. My mother (who later moved to the same village to be close to her grandchildren) kept asking, what will you do if the business is not a success? I more or less shrugged my shoulders. I had no answer to the question. There was no Plan B.

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Why a profitable small business still struggles with cash flow.

Meet Jim.

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Getting what you really want, means doing things that really scare you.

Owning and operating your own business is a lifestyle choice. It doesn’t matter what type of business you own, and it doesn’t matter if it’s big or small: the moment you decided to become a small business owner, your goal was to get more from life.

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Got an idea for a new product or service? Look for people with a strong motivation to partner.

One of the biggest mistakes entrepreneurs make when trying to develop a new product or service is that they get protective of the idea. In most cases, the fear is that someone will steal the idea. Well, that is always a risk, albeit a small one, the opportunity cost of being secretive is much greater. By not talking to other people, you’re missing out on potential conversations and alliances that could rapidly accelerate your new product launch.

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5 Constructive Habits of Entrepreneurs (To Achieve Long-Term Success)

Earlier this summer my wife and I found ourselves facing what seemed like a pretty simple decision. While on vacation we had decided to take a short hike through the Partnach gorge, just outside of Garmisch-Partenkirchen in Germany. A narrow walkway had been carved into the side of the rocks, providing a breathtaking walk alongside the edge of the gorge. After a modest 800 metre trek, we emerged from the gorge and had to decide how we would return to the starting point. We could turn around and walk back through the gorge or we could continue walking until we came to a small cable car that would bring us back to the starting point. The gorge was beautiful, but walking against the flow of foot passengers, in a narrow space, didn’t seem all that appealing. As we tried to decide we noticed a sign in the shape of an arrow, with a picture of the cable car, and the words 20 minutes written on it. While that seemed like a no-brainer so we headed for the cable car.

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Tips for offering credit to your customers

In an ideal world, every business would collect payment in full as soon as their product or service is delivered. It would sure make life simpler and help out with cash flow. And this is actually the case for many businesses. But for some business owners, this is simply not practical. If credit is routinely extended in your sector, then you clearly risk losing sales if you don’t do the same. If you sell to customers on credit keep these tips in mind.

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7 Ways to Take Advantage of Slow Times in Your Business

Like most small businesses, ours has cycles. At times we’re very busy with lots of client projects, and at other times that work slows down a bit. The slowest time for us in terms of client work is in the summer. Nothing new seems to happen, just some carry over from projects started in late spring. If your business is anything like ours, sometimes it can feel like nothing is happening during the summer: all of your clients, partners, and employees seem to be on vacation, and there is a giant tumbleweed following you around.

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