A recent study by Intuit, the software giant behind QuickBooks, Quicken, and TurboTax, found that three-fourths of small business owners expect to grow this year, in spite of all the talk about a recession, corporate layoffs, and consumers cutting back.
Now, it’s probably safe to say that small business owners are a relatively optimistic group. Part of their optimism, though, comes from that fact that two-thirds of the people surveyed said they had survived a recession before. They’ve done it by putting their customers first and focusing on their finances.
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When I first started studying entrepreneurship, my perception was that large companies created the jobs. Our colleges train us to work in bigg business. It’s true that large companies tend to hire a lot of people during boom times, as do small companies. But during tough economic times, large companies cut back. Interestingly, small companies tend to pretty much hold their own.
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If you’re keeping an e...
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Am I Paying My Salesperson Too Much?Post Date: 2008-06-25 22:30:48
Bigg Challenge Max is a business owner. He hired a salesman about a year ago. Max put him on the same compensation plan that his other sales people were on (a small base salary with an incentive).
The guy has done a phenomenal job. Max’s company is showing record sales and profits, largely due to this sales person. But here’s the problem: this salesman is now making more money than Max.
Max wants to know if he should adjust his salesperson’s compensation.
Bigg AdviceW...
Two Proven Keys to HappinessPost Date: 2008-07-17 22:30:05
There’s a rising call for developed countries to track happiness, rather than just income and wealth. Economists say that the goal of a “rational actor” is to maximize his or her “utility” – their fancy term for happiness – over the course of his or her life. Perhaps governments are trying to catch up with the economists!
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Leicester University in England has tracked happiness for the past 30 years. Consistently, Denmark – not Disneyland – has topped their list as the happie...
I Need Money! Should I Cash Out My Retirement Plan?Post Date: 2008-07-20 22:30:53
The financial news seems to be all gloom and doom these days. The reports are that we’re not in a recession, but times are tough for a lot of people.
No matter how tight things get, we still have bills to pay. People are responding to this very intelligently. They’re turning to public transportation, eating out less, seeking cheaper forms of entertainment, and cutting back on unneeded items.
But what do you do if that isn’t enough?
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Tapping your retirement plan …
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