Category Archives: Small Business Risk Factors

Small business risk factors

Critical Formation Errors that Will Destroy Your Business

There are a number of common mistakes many founders make that can destroy everything they worked so hard to achieve. Most occur when there is some business success. Some mistakes are made out of ignorance during the initial filing process with the Secretary of State and others are the result of failing to finish the process.

Our Fragile Monetary System

Understanding monetary policy is critical to understanding why our lives are the way they are. Unfortunately, economics is often viewed by the vast majority of citizens with confusion and boredom. Financial jargon coupled with intimidating mathematics quickly deters people from any attempt at understanding it. That said, our established monetary system exists as one of the most unquestioned forms of faith [...]

Read more »

What Is the Market Structure

Some industries are highly consolidated and are dominated by a few key players while others have few incumbents and are considered quite fragmented. Your strategy to enter either one of these markets will be quite different based on the market structure. For example, let's consider two travel related apps: one for flights and another for hotels. Of course today most popular [...]

Read more »

Are Your Employees Free-Agents?

My 89-year-old mother lives in an independent living facility that has several businesses connected to them. They have a bank, a maid service, and even a beauty parlor as my mom calls it. During a recent visit, my mom was telling me about how her hair dresser was let go, because she was in such high demand that the other [...]

Read more »

Target the Right Problem

In business, we too often look for easy, short-term victories and focus on the wrong target. For example, the US Drug Enforcement Agency's (DEA) focus is on drug smugglers. Unfortunately, this does not address the user's appetite for drugs. However, targeting the users instead of the seller is a bit harder. Consequently, the DEA's energy is often directed at the [...]

Read more »

How To Monitor The Internet

Everyone knows that one bad review can sink a business. However, many businesses do have a plan to monitor what people are saying about them. What if there was a simple tool that would scourer the internet and notify you if your name, your product, your company, or even your competitors were being discussed online? What if I told you [...]

Read more »

The Powell Letter

It was the summer of 1971 and I was a youngster living in New York City riding my new Schwinn bicycle. The war in Vietnam was winding down, but that summer marked a turning point for American business. During the preceding decades, American business and the free enterprise system were under attack. 27% of American workers were union members and unions [...]

Read more »

The Tech Start-Up Fallacy

Every community wants a vibrant economy for its citizens. Of all the categories of business, the most coveted businesses tend to be tech start-ups because of their higher paid employees. However, to provide the fertile environment necessary for them to spring up requires access to a pool of risk capital such as Venture Capital (VC) funds. Incubators and accelerators are created [...]

Read more »