Author: mccbloom@gmail.com
Inventory Loans: What You Need to Know
Many businesses use financing to purchase inventory (salable goods) for their business. This is particularly true when opportunities arise to purchase quick-turnaround inventory [...]
Avoid Employee Fraud: Locks are for Honest People
Locks are for honest people. At least that’s what my Dad used to say. In other words, he felt that under the right set of circumstances, nobody was immune to temptation. For example, he [...]
Financial Metrics Every Small Business Owner Needs to Know
Financial Metrics You Should Know to Run Your Small Business Understanding your business’ financial metrics, and what those numbers are telling you, is critical to running a successful business, knowing whether or not your business is profitable, or waking up one day to find out you’re on the slow march to insolvency and going out of business.…
Your Employees Work/Life Balance is Good for Business
Facilitating a Healthy Work/Life Balance for Your Employees is Good for Business I spent the earliest years of my career sweeping the warehouse floor and stocking shelves in my Father’s small business. As a teenager, he taught me how to do a good job and exemplified the mantra, “Anything worth doing is worth doing well.”…
Actionable Tips to Managing Your Resources Wisely
Managing Your Business Resources Managing resources is a challenge for many small business owners, but if you’re at all like I was, I believed I had a better handle on things that I did in reality. That’s not to say I was a disaster, but rather, hindsight being what it is, I can see lots…
8 Inventory Management Mistakes Your Startup Should Avoid
Inventory management is one of the greatest challenges facing many small businesses. Here are 8 great ways to improve this crucial part of your business.
How to Become Your Own Profit Expert
Putting Your Best Foot Forward: Finding (or Rather, Becoming) Your Profit Expert As a business owner, I didn’t know what I didn’t know. I knew my business, I knew how to get things done, and I knew how to sell my services, but I wasn’t an accountant and, at the time, didn’t recognize the incredible…
Is a Franchise Right For You?
The answer could be yes—but there are some things you’ll need to do before you sign on the dotted line. It probably goes without saying, but picking the right franchise for you and your interests along with evaluating whether or not you have the skills to run the franchise, are critically important factors that will…
Worthwhile Small Business Advice
OnDeck has been a national sponsor of SCORE for the last few years and one of my favorite responsibilities here at OnDeck is to work with SCORES’s national leadership group and the many local volunteers throughout the country to help them educate and inform their clients about the new landscape of small business lending. I’ve…
Small Business Saturday Was a Big Success—Let’s Keep the Momentum Going
When American Express launched Small Business Saturday in 2010 I thought it was a great idea to encourage shoppers to patronize the small, locally owned, businesses in their area. With all the national chains and online merchants offering big discounts to consumers, it serves as a reminder that these small, local, businesses carry a lot…
7 Better Ways to Train Small Business Employees
Even if they come with years of experience, every new employee you hire needs training. But all too often, small business owners are so overwhelmed with running the business to come up with anything better than a “follow me around for two weeks and learn the ropes” system. Unfortunately, that’s both inefficient and frustrating: owners…
3 New Ways Technology Is Benefiting Brick & Mortar Businesses
These days, nearly every brick and mortar business is looking for the perfect way to meld online shopping and in-store experiences. While it’s easy to be an e-commerce-only business, shoppers and retailers alike consistently find that a personalized relationship with a store or brand, along with an in-person experience, will breed customer loyalty, and encourage…
Election 2016: Making the Right Choice For Your Small Business
The 2016 Presidential Election is only a few weeks away, and it will be one of the more divisive political contests in recent history. Given that small business is a key pillar of the economy, all of the parties are focused on the topic, and each candidate has sounded off on their plans to boost…
Is Your Competitive Advantage Really an Advantage? Here’s How to Tell
Most successful businesses get that way because they offer something different than everyone else–and that “something different” is an offering that their customers want. With this fact in mind, it’s worth your time as a business owner to look closely at the “special sauce” that differentiates your business from the rest. Everyone knows that they…
33 Productivity Tips for Small Business Owners
According to recent research, the average business owner spends 33 hours in total looking for financing. With that number in mind, here are 33 tips that any business owner can incorporate into the day to improve productivity and efficiency. 1. Set a routine and keep to it! Start your workday at the same time each…