How to Avoid Losing a Friend when You Become Business Partners

How to Avoid Losing a Friend when You Become Business PartnersMany of life’s burdens – big and small – are lightened with a friend for support and this lesson has not been lost in business. If you’re thinking of starting a business with a friend or family member, you’re not alone. Some of the most enduring and positive American companies were founded by a couple of friends who had an idea. They didn’t always have a lot of start-up cash, but they had each other.

  • UPS was started in 1907 by two teenagers with a single bicycle and a hundred dollars borrowed from a friend. Back then the U.S. Parcel Post wasn’t around and there was plenty of opportunity for the American Messenger Company of Seattle, Washington.
  • Ben and Jerry met in seventh-grade gym class in 1963. A decade later, they took a five-dollar correspondence course in making ice cream.
  • In 1978 two 20-something friends, John and Rene pulled together $45,000 to open what started as SaferWay and later became Whole Foods Market. Times were so hard on the friends they lived in the store and reportedly bathed using the hose disconnected from the dishwasher.

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How to Make a Lasting Impression at Your Next Conference

Attending a business conference is a great way to promote your company and meet new customers and prospective partners. Exhibiting or putting up a booth for your company at a conference can be very expensive, and it’s important to be able to get the most from it. Getting the best return from investment in a conference is about planning, having clear goals and leaving a lasting impression and the following five tips will help your company get the most from your next conference.

1)      Have a clear goal in place.

This may seem an obvious point, but you should always be clear why you are attending a business event. Is it to generate sales leads and capture customer details to follow up at a later date? Is it to engage with existing customers and build loyalty? Having a clear goal makes it easier to plan everything from who will attend to what your stand will look like.

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The Predicament of Personal Guarantees For Business Credit

So you have your new corporation or LLC formed… great! Now the next task on your list might be to build credit for it, but how do you do that?

In many ways, building credit for a new business is much harder than building personal credit. With the latter, there are a plethora of entry-level cards for students and people with no credit history. Unfortunately, you will be unlikely to find starter cards like that for businesses.

Pre and Post Recession
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Small Business Owners: Give the Gift of Community for the Holidays

As another holiday season is upon us, it’s important to remember everyone involved with your business, and recognize their contributions in a meaningful way. In short, acknowledge the team of people that make it possible to run a successful small business. Here are some simple ways you can recognize their contributions: Continue reading