Startup
[Video] Business Planning: The Market Analysis
Before you’re given any money, investors or lenders will want to know the size of your market. Market size is an important factor in the long-term success of a business. The main issue is how many potential customers are out there who might be interested in buying your product or service. Not everyone is a…
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What We Can Learn from the World’s #1 Golfer
Earlier this week I read an article about Jordan Spieth that really resonated with me. It was a perfect example of what I think it takes to succeed in our world today. Jordan Spieth just completed one of the most remarkable seasons in the history of professional golf. He won 2 majors, 5 tournaments, the…
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Midweek Reading: Ownership, Risk, and Merit
An employee stock-ownership plan is a valuable way to get employees invested (literally) in the success of the company. Corporate Press in Lanham, MD, has a long-running system that has proven to be a winner for both the company and its employees. How important is the alma mater when you look at a job candidate’s…
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How Does the Incorporation Process Differ in Canada?
The incorporation process in Canada is quite similar to the United States. However, two differences are apparent. First, Canada has a federal corporations statute that allows businesses to be incorporated as a Canadian corporation (as opposed to a provincial or state corporation). Second, provincial corporation laws are generally similar to one another (except Quebec), and…
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[Video] Business Planning: What is a SWOT Analysis?
A SWOT Analysis is a business planning tool used to evaluate the chances of success in a project or business venture. The SWOT acronym stands for strengths, weaknesses, opportunities, and threats. Many business plans don’t include this section—but that’s a mistake. The SWOT analysis is a key ingredient in a strategic business plan. This is…
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To Succeed You Must be Willing to Fail
There is no cookie-cutter solution to life. There’s no silver bullet, no magic button you can press that fixes every problem, provides every answer, and guarantees success. The reality is that there’s no way you can be certain you have everything right (if it even were possible to have everything right to begin with); the only…
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Passion, Persistence, and Perseverance
Lessons one through nine of my entrepreneur series were lessons extracted from my own business and other business owners across the country over the past 20 years. Undoubtedly, in your first year of business you will make your fair share of mistakes, just like anyone starting a new venture. There are so many valuable pieces…
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Business Mentoring: Finding the Important Part of an Idea
When you start a business, you are sure to get a lot of feedback coming from a lot of different directions, all giving you advice on what you should do next. You are pulled in a dozen different directions, and many small business owners are paralyzed by this overabundance of inconsistent feedback. What you need…
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Midweek Reading: Organizational Structure, Competition, and Roadmaps
As human beings, we are naturally competitive. Perhaps a bit too competitive. Matthew Hutson reviews a series of studies demonstrating the power of competition, and how many people allow relative standing to influence their happiness more than their absolute standing. What’s your roadmap? To be successful, you have to know where you are going, and…
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Business Execution Mistakes
I remember growing my career in management with a large Fortune 500 company, when my Executive Vice President told me something one day. He said, “Ted, execution is the one thing that separates the good from the great. Let me put it to you this way. If you don’t execute, you’ll be executed.” I guess…
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