Small Business Administration and Mgmt

Small Business Help – Couples working together in business

Running a small business is stressful, so couples working together in business must

Randy Rubin and Craig Rubin source: Crypton

be doubly stressful, or maybe 4 times. And yet there are well over a million couples working together in business in the USA. So how do they make it work? Here are some great tips from Randy and Craig Rubin, owners of Crypton a textile company, on business and work balance for couples.

Tips for Couples Working Together in Business

HE SAYS: Split your roles. Make sure you and your wife have specific duties. For example, Randy focuses more on the legal, marketing and retail sales, while I am more [Read more…]

Small Business Management – More on Cash flow Management

There must be something happening in the universe. No sooner had I written 2 posts at entry level on small business cashflow than I found this great article written by David Bracken in the UK stressing the importance of not overlooking cash flow management. Now I know I am not a lone wolf howling into the wind. In fact I consider this so important that I have reproduced nearly all of the article below.

Small Business Management – Cashflow

Successful entrepreneurs usually concentrate their efforts on three key areas: vision, people and cash. Much advice and attention is lavished on the exciting work of developing and articulating a vision for the business: the grand strategies for world domination, or on ideas for hiring, managing and motivating a great team. The boring numbers bit about managing cash-flow too often takes a back-seat. However, to succeed in business, you must first avoid failure, and all businesses fail in exactly the same way: they run out of cash.

By having an accurate forecast, you will be able to judge your expenditure carefully, manage your working capital and seek additional funding in good time. [Read more…]