Hey everyone! I hope you all had a great weekend. As always I like to kick off the week with a summary of some of my favorite small business and entrepreneurship article that I’ve come across the last few days. So, here’s this week’s summary:
- Tons of people sell on Amazon. What sets some of the more successful ones apart from others? There are a few characteristics they seem to have: entm.ag/1Tp5kGh
- Garden Supply Co. is a really good case study about how to grow your business by rocking it on Pinterest. This article looks at how they are doing it: bit.ly/1rZlyPM
- This article updated us on how the sale of Yahoo. It suggests that the price for Yahoo looks like it will be in the $2-3 billion range: on.wsj.com/1WGJEuW
- What may be the biggest mistake you can make on LinkedIn? This article suggests that not putting a photo of your face on your profile is a huge mistake: bit.ly/22hCLjL
- Have you thought about how to finance your business. This article looks at whether a business loan might be the way to go for your small business: bit.ly/1RbVfu6
- This article highlights that how focusing on employee RECOGNITION, might be a great way to help with employee retention: bit.ly/1WEYXF7
- TJX’s strategy is an interesting case studying. While so many retailers are struggling, they’re strategy is to open tons of new stores: cnnmon.ie/27FiJnq
- Here was another case study. It’s focused on how an entrepreneur promoted and built his business using social media: onforb.es/22gnXC9
- So many people seem afraid of digging into the financial numbers of their small business. The article argues that it’s a critical part of your business: bit.ly/1spnIb6
- Again, when looking at the financial side of your company, cash management is significant. This article discusses how startups should NOT implode overnight. Not if they are watching their cash. read.bi/1TiVgP0
- Many of us are still getting our minds around how to apply Pinterest to our brand. This article showed how we cold use it successfully to help build our brands: bit.ly/1W2Joqe
- This article shared some good ideas about how to carefully watch money early in your business: entm.ag/1rUdTlF
- This article high;sighted ow the Gap may be using Amazon as a strategic channel. read.bi/1Nxzn1J
- As I touched on above, the retail sector is really struggling right now . This article touches on some ideas about what might be causing that struggle: cnb.cx/1OudCjk
- Running your own business is certainly not a 9-to-5 proposition. This article listed some things that keep successful entrepreneurs up at night: onforb.es/1TctzN5
- You’ve heard a lot about those “unicorns” anyhow they seem to be struggling of late. This article hit on the new market dynamics that are keeping them from going public: bit.ly/1Tg3x6z
- This article shared some ideas for how you can take your LinkedIn profile from good to great: bit.ly/1VY2SMB
This past week I was thinking a lot about the issue of finance and money management for small business. It’s an area that I’ve helped a number of small business owners think about and focus on. So, I shared a few tips to consider:
- Your small company needs a receivables review/manage process…and you need to stick to it!
- Focus your spending on things that will reap long-term benefits. Think of it as investing vs. spending.
- When financing your early-stage business, don’t overlook the use of convertible notes.
- Develop a close relationship with your banker. A smaller community bank or credit union may offer greater flexibility.
And on this blog I shared some ideas about some of the more important things I think small business leaders should focus on when it comes to financial management. Check out my last blog post: “Managing Your Business Also Means Managing Your Money“. Let me know your thoughts about other financial things you think small business leaders hold be looking at more closely.