Unfortunately many folks starting out in business make the often fatal mistake of hiring family and friends first instead of last. Now this may seem counterintuitive to many folks, especially those who know us well since we usually espouse the importance of Know Like Trust when building your business. But just because it might be “easier” to start with family and friends, doesn’t mean it’s the best thing for your business.
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How Do I Know I Won’t Run Out of Money?
Business owners can be a worrisome bunch. Oftentimes owners aren’t even sure what to worry about. One of the top worries for business owners, no matter what stage they’re in, is cash. More specifically, will I run out of cash? So how do you keep track of all your money?
How Much Is My Competitor’s Business Worth?
If you’ve been in business long enough, chances are you’ve received some unsolicited interest in your business. By “interest” we mean someone is expressing an interest in perhaps buying your business. It likely came in the form of a letter that was either physically mailed or emailed or from a phone call. These letters and phone calls often come from intermediaries so the actual person who might be interested in buying your company has their identity hidden. Do you welcome these solicitations with open arms? Do you avoid them like the plague…or COVID? Likely you’re somewhere in between.