Category Archives: Small Business Risk Factors

Small business risk factors

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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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 [...]

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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 [...]

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4 Publishing Industry Lessons To Make You A Better Entrepreneur

Since I have been writing articles related to small business for years and recently codified many of them into books, I began to think about the differences between the revenue sources and expenses of a magazine vs. that of a book. While they both are based on the content produced by a writer to deliver their end product, the [...]

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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 [...]

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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 [...]

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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 [...]

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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 [...]

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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 [...]

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Critical Thinking About Macroeconomic Forces

When completing a Business Model Canvas, it is helpful to guide the discussion through the use of questions. When it comes to looking at macroeconomic forces that will affect your business model, the following set of questions should help you in thinking more critically about your business model. These questions are broken into four categories: market conditions, capital markets, commodity [...]

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