I'm sure you are up to you "eyeballs" in work, so I will be brief.

I am in the mitts of doing research for my next book, when I came across an article by Peter Drucker entitled, Managing Cash in the New Venture.

In the article, Mr. Drucker states that, "The new venture needs cash-flow analysis, cash-flow forecast, and cash management.  Cash management is fairly easy if there are reliable cash-flow forecasts with reliable, meaning worst case assumptions, rather than hope.  If the forecast is overly conservative, the worst that can happen is a temporary cash surplus."

Mr. Drucker goes on to suggest, "Develop worst case estimates of cash flow and cash forecasts for new ventures.  Monitor receivables and inventory levels closely."  If Mr.Drucker were still alive today, I think it would be fair to say that he would not limit his advice only to new ventures, but would extend his advice to include all types of business ventures.

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National Small Business Week, May 20 -26, is annual event hosted by the U.S. Small Business Administration.  It supports and celebrates small businesses in the U.S.A.  In conjunction with this special week, Training for Entrepreneurs.com has launched a new Business Start up Training Program, Start-Smart Business Mentoring.

Start-Smart is a 10- week, online Group Mentoring Program about company creation, business launch, and business growth strategy!  It’s a virtual, online classroom environment where aspiring entrepreneurs and startup enthusiasts come together one evening a week to learn how to successfully turn their entrepreneurial dreams into viable business realities…

The Program provides only 45 aspiring entrepreneurs with their own Personal Business Mentor.  This budding group of entrepreneurs is divided into three, 15 person virtual teams that meet weekly on Tuesday, Wednesday, or Thursday evenings.

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Power of Writing.jpg Every organization needs to ensure that business deals are attended to promptly.  Writing effective business messages not only includes connecting with customers and clients, but also with employees within your organization.

A carefully-written business correspondence plays a crucial role in the day-to-day operations of your business.  Every person in your organization regardless of rank or job description should know the fundamental concepts of effective business writing and communications.

Responding to problems within your business organization via written communiqués should be done promptly, clearly, and concisely.  This is particularly important when dealing with employees since false assumptions based on mixed or ambiguous messages are more likely to create problems down the road.

Building your credibility and reputation is a must if you want your clients’ trust and confidence.  There’s no better way of closing this gap than through effective business writing.

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Discover the entrepreneurial skills involved for transforming you and your business in order to effectively function at higher performance level.

Find out more about the entrepreneurial performance gap in this Training for Entrepreneurs.com Chalk Talk video episode! View the video here…

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Last week, in Part # 1, we defined Mind Mapping and talked about its nature.  In Part #2, we will discuss how to use Mind Mapping to help you start a new business, generate new ideas, or revitalize your business.

Whether you are thinking about starting a new business or revitalizing an existing one, visual Mind Mapping techniques can be an ideal way to bring life to your business ideas.

Business innovation and creativity are the results of effective brainstorming within a group.  Getting a group of people together to brainstorm ideas is not always easy or practical.  For those inopportune times, individual, hand-drawn Mind Mapping can be a great way to generate ideas on your own, and to develop a variety of great solutions for your small business problems.

Take a moment to focus on the ideas that you want to further develop.  Then, follow this brief outline so you can begin leveraging the process of Mind Mapping for the success of your business.

Take advantage of free Mind Mapping software

Effective Mind Mapping cannot be overstated.  It might be a good idea to begin Mind Mapping with free software like, Xmind and open source FreeMind.  Once you have gained some experience using free versions, you can test drive some of the commercial ones such as, MindMapper and MindVisualizer.

One of the first Mind Mapping exercises you could attempt is to brainstorm how to acquire new clients for my business.

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