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Articles by Victoria Crone
6 things small business owners need to know in tech this week
Technology is accelerating at lightning speed but its impact on small business, one of the world’s largest drivers of revenue and a huge contributor to every nation’s GDP, is rarely discussed. Each week, we’re going to break it down so small business owners like you, know what’s in the pipeline and how that applies to your day-to-day operations. There have been so many rumors floating around that Apple has been developing a car and now it looks like they’ve been confirmed.
Cash flow is number metric for business owners
According to the Small Business Association, about half of all new small businesses survive five years. And only about 33 percent survive ten years or more. Having a solid plan in place to manage cash flow is essential to ensuring that your business can survive. Cash flow management separates a good small-business owner from a great one. It’s definitely not as sexy as making a big sale or scoring a round of financing.
Why your niche business could be a global player
“Everything that can be invented has been invented,” said the Director of the US Patent Office in 1899. It was a breathtakingly naive thing to say even then. But many business owners today still make a similar mistake. They look at the market around them and assume it’s fixed. Having marked out their territory they believe nothing will change. They couldn’t be more wrong. Black Swans lie in wait.
5 cash flow goals that every business should aim for
We know that for most small business, cash flow is the number one thing they worry about. We caught up with the people over at Fundbox, who know a thing or two about the importance of having cash on hand. Anna Eschenburg was kind enough to give us five simple goals that everyone can use to stay in the black. Maintaining a cash flow positive situation is something that many small businesses struggle with.
Is your business being held back by groupthink?
If everyone in the room agrees with you, you’re probably all wrong. And the zombies are coming. When I was a lot younger I used to wonder why large companies regularly brought in management consultants. It seemed an admission of failure. Surely it was an embarrassing black mark against the existing management of the business? Then I spent some time working in large organizations and discovered one of the reasons: groupthink.
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