Family businesses face the same challenges as other businesses, including succession planning. But the family dynamics can make those transitions even more complex. Many family businesses don’t survive those challenges across multiple generations. “About 30 percent of companies make it to the second generation without being sold or failing, about 12 percent make it to […]
How To Successfully Transition A Family Business Read More »
As a small-business owner you likely deal with larger companies that are your clients, partners or vendors. These companies may have experience and resources that you don’t when it comes to contract negotiations, but that doesn’t mean you’re necessarily at a disadvantage. Skillful negotiating can let you strike a deal with these big businesses that’s
How to Level the Playing Field When Negotiating with Big Business Read More »
Great workplace culture gives employees a purpose. It helps them enjoy their work, and it makes it easier for you to hire top talent. It’s especially important at high-growth companies, and yet even well-intentioned employers often get it totally wrong. To find out how companies can build a healthy workplace culture from the start, we
Beyond Ping-Pong Tables: Building a Healthy Workplace Culture Read More »
Your top priority as a business owner has to be to keep the money flowing in, because you can’t provide a great product or service if there’s no cash to support your endeavor. A 2014 report by CB Insights highlights this, noting that the second most common reason startups fail is because they run out of
5 Tips to Keep Cash Flow Going in a Growing Business Read More »
Once your business has grown too big for you to do everything alone, hiring employees is only the first step to getting work off your plate — you also have to know how to properly delegate that work if you want to stay ahead of your operations. Gloria West, a senior consultant and executive coach
3 Delegation Traps Entrepreneurs Fall Into— and How To Avoid Them Read More »
So you have been chosen to “pitch” your company at a local pitch competition. The audience is mixed with angel investors, other entrepreneurs, and community people who want to support the ecosystem. The organizers have given you five minutes to tell your story to a group who may or may not have had a couple
PITCHIN’ AIN’T EASY . . . OR IS IT? Read More »
Business incubators are more than just office space. If you move your start-up into one without first doing your research, you may regret your decision. It’s important to understand that incubators want to do more than simply “store” entrepreneurs; they seek to coach, connect, and motivate them as well. Also, it’s critical to understand what
SHOULD YOU JOIN A BUSINESS INCUBATOR? Read More »
Have you noticed that today’s work environment is drastically different from the workplaces of the past? Enhanced technology has brought us a whole new world of productivity with the emergence of virtual teams. In our most recent Tech Park Academy, Dr. John Zachary, founder of the industrial-software development firm Cognize, detailed the challenges of using
5 Major Challenges of Using Virtual Teams and How To Overcome Them Read More »
If your company is in trouble, the first reaction you have might hurt your business more than you would expect. No one wants to have to deal with a crisis, and that anxiety may leave you unprepared. When you make a quick judgment and use one of these three common responses, it can have damaging
3 Knee-Jerk Crisis Reactions That Destroy Your Chances Of Recovery Read More »
Small businesses and start-ups are the backbone of our economy. So why do they fail so often? For many, the answer is lack of long-term planning. Devin Lemoine and Eddie Gibbons, Ph. D., of Success Labs, a Baton Rouge-based management consulting firm, delivered an interactive presentation about strategic planning at a recent Tech Park Academy.
How to Plan Long Term In 5-Minute Intervals Read More »
