QUESTION: Interest rates are coming down and the economy is on the rebound; however, my business is not participating to the extent I had hoped for. What advice can you offer to get me back on a growth track?
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QUESTION: I am thinking about starting a business but don’t know what steps I should take. Can you give me some direction in this regard?
QUESTION: I am thinking about selling my small business. Can you offer any tips on how to start the process?
ANSWER: Timing in life is everything, and we can’t always choose the right time to make important investment decisions. Crafting an exit strategy is something every business owner should start thinking about five to ten years prior to the sale.
Question: I have developed a unique software package that will be a hit if I can just find a way to convince my clients of its value to their operation. However, sales and marketing are not my strong suits. What can you suggest?
QUESTION: It seems there are not enough hours in the day to complete all the projects I undertake. How can the owner of a small business become a better time manager?
ANSWER: Your problems are not unique. It is a daunting task for the small-business owner to effectively manage time, such that he or she accomplishes all of the necessary duties in a given day.
QUESTION: I am considering investing in a franchise, but somewhat in awe of the many details of the franchise agreement. What are your recommendations?
ANSWER: If you have the desire to own your own business but aren’t sure if you should start from scratch, a franchise is worth considering.
QUESTION: I have just started a new venture and need some guidance regarding bookkeeping and record keeping. Should I engage the services of a CPA or just hire a bookkeeping service?
ANSWER: Depending on your particular circumstances, you may require the services of both. A CPA or Certified Public Account, has passed a detailed accountancy exam and other requirements to become licensed and certified.
QUESTION: As the owner of a small business, I am constantly confronted with questions from employees, many of whom already know the answer. How can I handle this is a way that instills confidence and respect?
QUESTION: As a small business owner I need to have a better understanding of my financial statements, especially my cash position at any given time. What do you consider the most important documents?
ANSWER: With all the responsibilities of ownership, running a small business can consume an inordinate amount of time. Making time to manage your financials can be hard, but there are three documents you cannot afford to ignore.
QUESTION: I have spent considerable time developing a written business plan with many priorities. Now I feel I need guidance to determine which of them I need to implement first. What do you suggest?
ANSWER: You say you have many priorities and therein may be your problem.
QUESTION: I am considering the purchase of a local insurance agency. In addition to financial records, what else should I request from the owners?
ANSWER: The purchase of any business requires you thoroughly investigate all aspects of the entity in question.
QUESTION: I recently heard the term “influencer marketing.” Exactly what is it and how does it work?
ANSWER: In simple terms, influencer marketing is basically word of mouth marketing.