The Training for Entrepreneurs.com Archives Library

Our Archives Library consists of an ever-growing collection of articles that are filled with helpful tips, tactics, and recommended best business practices for the small-to-medium size business community.

You may reprint any of the following article(s) free of charge in your newsletter, magazine, or on your website, provided that the article is unedited, and that the copyright, author's bio, and contact information appears with each article. Articles appearing on the web must provide a hyperlink to the author's web site.

The content-rich collection of articles cover a broad spectrum of business topics and is categorized by subject for quick reference.

ACCOUNTING

How to Create a More Positive Cash Flow: Positive cash flow does not happen by accident; it happens because a well-defined financial management technique called "cash management" is functioning. A good cash management system helps to efficiently and effectively manage the activities that produce cash. (Read more) How to More Effectively Convert Your Accounts Receivable into Cash: To more effectively convert accounts receivable into cash, it is essential that the credit and collection process be highly efficient in order for you to shorten the accounts receivable cycle time. The shorter the cycle time, the less time cash (capital) is tied up in the business process, and thus, … (Read more) How to More Effectively Convert Your Inventory into Cash: Slow-moving inventory adds to a slower cash flow, and consequently ,creates greater carrying costs that must finance the inventory. The degree of success, when converting inventory into cash, is directly related to the how well the inventory cycle is monitored and controlled. (Read more)

FINANCE

Keeping Your Bottom Line Strong: Without a positive cash flow or a steady source of working capital to pay the rent, utilities, employees, repay debt, or expand your infrastructure, your company will not be in business for long-much less be in a position for growth. (Read more) Making Your Working Capital Work: In order to effectively manage working capital, it is prudent to measure your progress and control your processes. A good rule of thumb is- - - If you cannot measure it, you cannot control it. (Read more)

COMMUNICATIONS

Don't Underestimate the Effects of Your Company Culture! In order for your company to grow and prosper, a "company culture" must be created which clarifies your identity, your values, and your beliefs. A culture must also be created so that a company is able to not only attract quality people, but also - and even more importantly - to keep them. (Read more)

LEADERSHIP

Entrepreneurship - a Leap of Faith: Starting your own business is an undertaking that requires more than vision, inspiration, sweat equity, money and determination. It is a leap of faith that demands that you let go of everything that is safe, comfortable, and proven. It is getting "outside the box" in the biggest way possible. (Read more) Making the Transition from an Entrepreneurship to a Professionally Run Business: If your business is to succeed, you need systems and processes that will stabilize your company and support future growth. This is why a well-planned transition strategy is so important. (Read more)

MANAGING

How Do You Measure the Risks and Rewards That Are Associated with Your Business? It is important to determine how much risk you can withstand in a new venture or expanding an existing business. Before you even consider launching or expanding an existing business, you need to have strategies in place to offset potential losses or unforeseen challenges. (Read more) How to Successfully Navigate Your Business through an Economic Downturn: While economic downturns are admittedly difficult, and are formidable obstacles to small businesses that are trying to survive and grow, an economic downturn can open up opportunities. A well-managed company can realize the opportunity for gaining market share by taking customers away from their competitors. (Read more) The Importance of Supplementing Your Skill Set: Unfortunately, for most entrepreneurs, the costs associated with hiring and employing a staff of individuals that possess the skills and experience that the entrepreneur lacks, can be high. However, there are a number of cost efficient means that you can use to supplement your lack of experience. (Read more) The Nuts and Bolts of Running Your Business: Standardization of processes is necessary for the transition from a fledgling company to a professionally managed enterprise. As your business grows, standardization of processes and procedures is essential for the future growth and success of your business (Read more) What is Your Banker's Involvement? An important stakeholder of any business is your banker. Banks are arguably the leading source of capital for entrepreneurs. (Read more)

MARKETING

20 Business-Building Practices: There is a variety of ways to generate greater demand for your business. Whether you are starting a new business or jumpstarting an existing one, identify what stage of the business life-cycle your company is currently in. This information will impact your choice of… (Read more) How Do You Differentiate Yourself from Your Competitors? Competition is a natural and integral part of doing business. How successful you become at competing depends on how you position your business relative to your competitors. (Read more) How Do You Sustain and Grow Your Customer Relationships? The most important thing in sales and marketing is to attract and retain your most profitable business customers. In order to accomplish this feat, (Read more)

OPERATIONS

The General Business Advisor... A General Practitioner for Business: There are many types of business advisors---financial, legal, insurance, special projects, etc. ---who can offer expertise in solving specific problems that inevitably face every business owner or budding entrepreneur. (Read more) The Importance of Seeking Business Advice: Aligning yourself with a trusted business advisor is one of the most valuable pieces of advice that anyone can give you. Entrepreneurs are by nature mavericks, "idea-people," who are daring and inspiring, and have the grit to overcome extraordinary obstacles. (Read more) The Rules of the Game of Business: In many ways, the rules of the game of business are similar to the popular quiz show of the 50's… the $64,000 Question. The rules are simple, in that, (Read more)

ORGANIZATION & HUMAN RESOURCES

Business… It's About People: Conducting business is by nature interdependent. It is the result of multiple interactions between multiple stakeholders every day. A stakeholder is a person or a group with a vested interest in the success of your organization and your products and services. (Read more)

PRODUCT DEVELOPMENT & INNOVATION

Business Opportunities…How are you responding to those that come your way? The need to examine and to determine whether or not a particular business opportunity and/or idea has any chance of success, prior to financial commitment is critical. (Read more)

STRATEGIC PLANNING

Thinking Inside or Outside the Box… Where are you? Interestingly enough, as a small business owner, "thinking outside the box" is precisely the behavior that inspired you to begin your entrepreneurial path in the first place! The tough challenge is sustaining your original visionary mindset. (Read more) Beyond your gut feel, just how feasible is your business idea? At times, "pulling the trigger" and launching a new business idea --based on a gut feeling -- has proven to be successful. However, that is the exception, rather than the rule! Making decisions based on gut feelings alone is like playing Russian roulette. (Read more) Strategic Planning is not only for Big Businesses: Strategic planning is equally applicable and critical to small businesses. It is the process in which you develop a vision, establish a set of objectives, craft a strategy, implement and execute the strategy, and finally monitor and evaluate the desired outcome. (Read more) The Secret to Success in Business Planning… Plan your work and work your plan. Running your own business is a highly rewarding, but often a risky endeavor. As with anything else, increasing your chances of success begins with preparation. (Read more) What is your SWOT? An effective tool that assesses and identifies opportunities and risks is a SWOT analysis. A SWOT analysis is a strategic planning tool used to evaluate the strengths, weaknesses, opportunities, and threats involved in a business venture or project. (Read more) Your Action Plan… How to execute it: Creating a strategic business plan is a great first step. However, if your business plan gathers dust on a shelf, its value is lost. This is where the action plan comes in. An action plan can help you stay organized, coordinate your activities, and keep your projects on schedule. (Read more)

TRAINING & DEVELOPMENT

12 Business Skills You Need To Master: Success demands more than hard work, resilience, and expertise in your field. In order to succeed, you need to understand and to become proficient in a set of fundamental business skills. (Read more)

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