Delegating the Right Way: Part 2 of 2

Once you have made up your mind that it's time to start delegating to other people and growing your business, and once you've decided on what to delegate, only three questions remain:

--To whom do you delegate?

--How do you delegate?

--How do you avoid losing control of your business?

When delegating, you can choose among five potential ...Read more

Delegating the Right Way: Part 1 of 2

One of the hardest things company founders, entrepreneurs and self-employed professionals can do is get out of their own way and allow their businesses to grow without them.

And there is one -- and only one -- way to do that: delegating to others.

No individual can build a billion-dollar business by himself. Doing that requires building ...Read more

The Correct Way to Structure a Holdback

"I am in the process of buying a small business.

"There are some issues with this business, and I asked the seller if we could hold back ten percent (10 percent) of the purchase price for a year to see how things went.

"The seller said he was agreeable, but in reviewing the draft agreement his lawyer put together, it says the seller gets the...Read more

Report From EComChicago 2017

I just got back from speaking at this year's eComChicago conference for online retailers in Elk Grove Village, Illinois.

A little history: About eight years ago, when eBay started cutting back on its popular outreach programs for eBay sellers, sellers started forming their own support groups called "meetups" (for a complete list of all eBay ...Read more

7 Essential Tips for Managing Your Clients

If you have a service business, you have to develop techniques for keeping your clients happy. Without clients, you're out of business.

However, bending over backward for your clients may not be the best long-term strategy for growing your business. The nicer you are to your clients, the more they are tempted to take advantage of you -- by ...Read more

4 Millennial Misconceptions About Entrepreneurship

'Tis business plan competition season once again.

This time of year, I spend lots of time traveling around the country judging business plan competitions at colleges and universities. The participants are either undergraduate or business school students who form "teams" and compete for cash prizes or (sometimes) face time with me and other ...Read more

When Employees' Political Views Clash

"I run a small business with 10 employees.

"It turns out I have both Republicans and Democrats among my employees, and since the most recent presidential election, I've overheard some very heated political discussions going on in the lunchroom.

"Normally, I don't care about such things -- I'm a big believer in free speech -- but the past few...Read more

Murphy's Law and the Entrepreneur

"My spouse and I recently decided to start a business designing knapsacks for children. We've got a bunch of great designs; they are lighter and more flexible than other knapsacks on the market, can be made with 100 percent organic ingredients, and have a lot more compartments where kids can put their stuff. We both wish these were the sorts ...Read more

Should You Be a Guinea Pig for a New Franchise?

"I was downsized from a corporate job about a year ago. I have never run my own business before, but I am realizing now there is no future for me in corporate America (I am over 50 years of age), so I am looking at entrepreneurial options.

My outplacement firm recommended that I consider buying a franchise. The problem with franchises, though...Read more

When Customer Service Bumps up Against Economic Reality

On a recent business trip to Orlando, Florida, I was called upon to find a good local restaurant for two important Florida-based contacts who wanted to meet with me over dinner.

As it happened, both of them liked steakhouses, and the hotel where I was staying boasted one of the top steakhouses in the area.

I made it a point to check out the ...Read more

The 12 Dumbest, Most Common Small Business Mistakes

With more and more people starting businesses of their own -- out of necessity, not choice -- I'm seeing more and more people making the same mistakes over and over again.

Here is my top 12 list of the dumbest entrepreneurial moves. All are easily avoidable with a little common sense and street smarts.

Not Knowing Your Customers. Without ...Read more

Surviving Your Next Networking Group Meeting

I don't know about you, but I find most networking groups to be exceedingly boring, unproductive and, in some cases, cringe-inducing.

I'm not generally a fan of networking groups. I'm not sure people get much new business out of them. Still, they have their upside. They can be great places to find people who do not compete with you but serve ...Read more


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