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Small Business Development Center

SBDC Blog

SBDC Blog

You need to hire in a tight labor market. How can you recruit the right candidates to apply? First, brainstorm what knowledge, education, and professional skills you need from your ideal employee. To help with this brainstorming, you might consider the ideal employee’s experience or career so far.

But remember, you are hiring for the future. So for this, you need to consider the mind-set, values, and personal skills that describe your ideal employee. Sometimes, the perfect fit may come in an unlikely package. A pe... continue reading Hiring the Ideal Employee

Sometimes, I joke that bodybuilding gave me enough (and sometimes a false sense of) confidence to do the MBA program. Also, that it humbled my ex-full-time-yoga-instructor-self about the “ease” of yoga. Both statements are actually 100% true, for which, I am extremely grateful.

Undoubtedly, we all know there are tons of health benefits from exercising. Examples include (but are not limited to):

  • Lifts mood 
  • Reduces feelings of depression
  • Improves strength and heart health 
  • Increases longevity and quality of life 
... continue reading Metaphors from Body Building

A lever serves to amplify a force. Plyers, wheel barrows, boat oars, and even our own arms and legs amplify an input force to create an even greater output force. This is the essence of leverage. In the financial world, leverage is more narrowly defined. In business financing, leverage is a strategy that revolves around borrowing money (debt) to create a disproportionate return than you could have created with your own current asset base.

For many small companies, debt is the primary source of funding. Selling equity too early will result in a loss of ownership disproportional to wh... continue reading Let's Talk About Leverage

I first came across the book Different by Youngme Moon in my MBA Marketing Strategy class, and I will admit, it was a required reading. However, it provides a new perspective on how to view competition in a business setting and provokes thinking about your own business differently.

 

Youngme’s message of modern business is extremely simple yet also very powerful: most companies have too narrow of a view in their respective market, and will blindly follow their direct competition. Companies will compete time and time again usually on one focus: price, margins, t... continue reading Different - "Escaping the Competitive Herd"

 

Part III in a three part series on the Basics of Managing a Business

This is the third and final part on the basics of how to manage a business. See Part I and Part II for info on understanding the mechanics of your business and the importance of cashflow.  
 
 
 

... continue reading Papers and Practices of Importance

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