Category Archives: Operation

Passing Down Your Family Business Successfully

The majority of small business are family owned. In many case, business have been handed down from one family generation to the next. It can be wonderful and rewarding experience or it can be regretful decision. There have been many book written, and course developed, that explore the experience of passing down a business to… Read More »

Why Should Become A Specialist?

Tell your consumer that you’re a spesialist. Hemming Motor News is motor specialist magazine sold 265.000 copies a month. Its gross income reached 20 million dollars a year. One edition has 800 pages with 20.000 advertisements that offer everything, start from wheel bearing set for Model T Ford (priced $55) until roadster by Rolls-Royce Harley… Read More »

3 Generic Competitive Business Strategies

There are many kinds of business strategies and Michael Porter had summarized into 3 general types that giving a good beginning for business strategic thinking: cost leadership, differentiation, and focus. Cost Leadership Cost leadership is about becoming the low cost producer in its industry. The sources of cost advantage are varied and depend on the… Read More »

Business Life Cycle

Business have life stages as well as individuals. The entrepreneurs selling to an industrial market must be aware of where their customers are in their development. The Introductory Stage Business normally in their first year of operation have needs for products and services that will accelerate their development. Start-up equipment and heavy promotional service are… Read More »

Recruiting Good and Loyal Employees

In recruiting employees, small business actually get financial disadvantage. Rarely is the money available to compete with larger enterprise in term of pay and benefit program. Entrepreneur should optimize personal advantages of belonging to won the competition. Forming a winning team in small business is rewarding and continuous job. The goal is to create trust,… Read More »

Overview: Small Business Management

Managing small business require using the same management principles applied in a large corporation: planning, organizing, directing, controling, and staffing. We’ll learn one by one based on the explanation from a book “The McGraw-Hill 36-Hour Course: Entrepreneurships” by James W Halloran. Planning The planning function of looking into the future sometimes gets lost in the… Read More »

Make A Successful Part-Time Business

Balancing a full-time job with a part-time business is not easy, but it can be done. In his book “You Can Start Your Own Business”, Arnold Sanow recommend these following tips to make your part-time business a success: 1. Involve Your Family in The Business Whether it’s responding calls, stuffing documents or putting  orders, giving… Read More »