Category Archives: Small Business Planning

Small business planning elements

VIDEO: Limits to Limited Liability

There is a gross misunderstanding when it comes to the protection afforded to business owners of a Limited Liability Company (LLC). This video identifies who’s liability is protected and who’s is not.


Messages from Successful EntrepreneursDon’t miss out on our [...]

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VIDEO: The Real Reason for Registering an Entity

Most people associate registering their business with the Secretary of State as the proper way to secure their unique business name.  While this reason is partially true, it is not the real reason a business needs to register their entity with the Secretary of State. In this short video we discussed the real reasons why a business needs to register [...]

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How to Avoid Cognitive Tunneling and Respond Better under Stress

Cognitive tunneling is one of the principle causes of accidents that involve human error. Cognitive tunneling is the mental state in which your brain focuses on one thing, and as a result, it does not see other relevant data. This perceptual blindness causes our attention to miss even the most obvious clues to the problem that are right in front [...]

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A Major Shakeup Is Looming – Are You in Jeopardy of Missing the Boat?

I certainly spend more time shopping online these days than in the mall and I don’t think I’m alone. The internet allowed for “online shopping” that in turn created online-retailers like Amazon and Overstock, but they were the only businesses visible on the front line. While malls suffered from this shift in buying behavior, other industries benefited. At the next tier, [...]

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13 Steps to Find Your Profitable Niche for Free Using Long-Tail Keywords

Recently, I was teaching a course, “Going Pro – Moving from Hobby to Business” and one of the students was a jewelry designer looking to take her hobby of making jewelry, mostly as gifts for friends and family, and turn it into a paying business. I suggested she focus her jewelry design on a profitable niche or risk becoming [...]

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There Is No Prize for Originality

Earlier today, I was reading a reddit.com post about a young man ready to graduate college this summer who was desperately looking to start his own business. He didn't have a business idea and was looking to the readership to help him come up with one. I often suggest to clients with a desire to start [...]

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Revenue Comes in 3 Flavors

Every business makes investments to create revenue for itself. All too often business owners consider cash as its only source of revenue worthy of investments. However, revenue actually comes in three flavors:

1.  Cash 2.  Attention and trust 3.  Referrals

Everyone can easily recognize cash as a source of revenue in a sales transaction; a business [...]

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Exploit the Future by Shaping It – Don’t Try to Predict It

During the past few weeks, we have looked at how the business landscape has changed, why the advice we receive from so called experts has not kept pace, and how the reasoning skills of successful entrepreneurs have adapted to the new reality of business. Let's conclude this series by comparing the logic practiced by the manager and founder [...]

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Leverage Contingency Principle – Planning for the Unexpected

Manager entrepreneurs use their causal reasoning skills to try and predict the future in an effort to avoid surprises. Founder entrepreneurs use their effectual reasoning to turn an unexpected result or condition into a profitable end. They plan for the expected, but try not to extend too much in the way or resources just in case they are [...]

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Strategic Partnership Principle – The Truth about Competitive Analysis

Manager entrepreneurs use their causal reasoning skills to conduct a competitive analysis to help them define a unique niche for their business. This is demonstrated by the blue ocean strategy postulated by W. Chan Kim and Renée Mauborgne. In contrast, founder entrepreneurs use their effectual reasoning skills to build strategic partnerships with customers. Founder entrepreneurs do [...]

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