The Advantages and Challenges of Worker-Owned Cooperatives

The concept of a worker owned cooperative is unfamiliar to most Americans. We’ve all been sold on the standard management/labor structure we learned in business school and read about every day in the Wall Street Journal. But times are changing, and now just might be the time to consider something different. Worker owned cooperatives have […]

Preparing for a Business Loan

  Is Bank Financing Right for You? Unfortunately, there is no simple answer to this question. Here are a few things bankers look for when they consider a business loan application. Note that, for the most part, this article applies to start-ups with no revenue, or to businesses with up to a few hundred thousand […]

Time to Start Something New?

2020 was a rough year for the vast majority of American businesses. Restaurants, airlines, hotels, spas, convention centers, and dozens of other types of businesses were hit hard. Families struggled, poverty and food insecurity increased and paychecks either went away completely or decreased. Weekly unemployment claims reached historic lows (with the exception of the Great […]

Focus On … Something

If everything is a top priority, then nothing is a priority, and nothing will get done. This is a tough lesson, but all successful business owners eventually learn it. Many startups are particularly susceptible to the idea that they can serve this market, and that market, and those people over there, and these groups over […]

Business Planning for Success

We all want a packaged solution that will solve our problems quickly, painlessly and at low cost. Need to get somewhere faster? Buy a new car. Need to lose weight? Sign up for a diet service. Need to boost business revenues? Call a consultant. I wish I could always solve my clients’ problems quickly and easily. […]

Selecting the Right Firm, or What Could Possibly Go Wrong?

Eventually, every business, no matter how well run, hits a rough patch. While large businesses are used to hiring consultants, and have people and processes in place to get the most out of such consulting engagements, most small business owners do not. Consider the following – fictitious, but unfortunately all too common − story about […]

Food Manufacturing Growth Stages

While some food manufacturing businesses start out as well-funded spinoffs by giant companies such as Kraft or Nestle, many others start out as tiny startups with a simple idea and very little funding. The tiny startups often struggle for years, but sometimes they grow so big so quickly they actually threaten the giants. Beyond Meat, […]

Should You Scale Your Business?

OK. So you started your own business, grew it to the point where you are now making a modest income, and you finally went on a vacation for the first time in five years. Revenue has increased for the past few years, the business is generating a small profit, and you have several employees. Are […]

Business Plan as a Living Document

The jumping off point for most entrepreneurs is writing a business plan. This is usually done to secure financing, but it is also requested by business advisers, vendors, partners and others. There are hundreds of free templates available, all of which are very similar and relatively straightforward. Keep in mind that your business is unique […]

Bright Shiny Object Syndrome

Con artists long ago mastered the art of distracting their “marks” with bright shiny objects. Once they get the victim’s attention, they exploit his or her weaknesses to get what they want —- a suitcase, a wallet, a watch, or a purse. Con artists distract intentionally and purposefully, and they are extremely good at it. […]