1 principle every entrepreneur can use to make better decisions

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“A business will make money in a down market and collect it in an up market”

Running a business isn’t easy. Every day there are challenges, opportunities, tasks and issues that all contribute to where a business finds itself at any given time. To help get through the daily grind an entrepreneur will use business coaches, consultants, webinars, training sessions and many other tools to ensure they are building their business properly. While these tools are very helpful there are certain principles that an entrepreneur can follow to guide their efforts each day. One of those principles is understanding what your business is fundamentally trying to do each day – is it learning how to make money or is it collecting money and reinvesting the results? This may seem like a strange concept but your ability to understand it can have a profound change in how you approach the daily grind of your business.

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How a small business can profit in slow times

If you believe like I do that the world economy (and to a lesser extent the Canadian economy) will continue to be mediocre at best then small businesses have an additional challenge in front of them in the form of being profitable or seeking ways to grow in the face of current economic times.  The latest news articles relative to capital, money, banking, etc. all paint a picture of shrinking margins with no real line of sight to opportunities for improvement, growth or higher profits.  As a small business owner I can relate to the current environment but unlike the news I have hope that it is in these times that real profit is found as Continue reading “How a small business can profit in slow times”