The wisdom of Peter Engel, who passed on July 2010. Unless you take the time to consider how you will leave your business, you may not be able to leave it. If you do find a way out, you may take a drastic haircut on its value. At worst, you may find yourself inextricably handcuffed to your business. You need an exit strategy. There are seven main types of exit…
While most people tend to think managing employees is the most difficult task a business owner has, it is my belief that recruiting and hiring talented employees is even more difficult. If you hire the right people, managing becomes much easier. When reviewing resumes and interviewing prospective employees, it is important to question if this is the right person for the job. You can never be too sure of the…
Many companies market their products through traditional sales channels with master distributors, distributors, and dealers all playing a valuable role. Strong distribution channels, or outlets, are a hallmark of a solid company. However, even the most traditional company, heavily reliant on distribution partners, can still greatly benefit from developing a direct-to-consumer sales channel. Here are the Top 5 Benefits of a Direct-to-Consumer Sales Channel: New Product Introductions. Introduce new products…
Are you are launching a retail business? One key part of your business puts you on the other side of the counter, as a buyer of the merchandise you will be selling to your customers. There is a saying in retail that ‘Money is made in the buy’ – the decisions you make as a buyer will determine not just how much you pay for your stock, but the items…
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