Jeff Hall and I have almost finished teaching another semester of Entrepreneurial Finance at UVU. We've come a long way since the first time I taught the class, which was the first time any such class was ever taught at this University.
Most Popular Blog Posts of 2010
There is a lot of talk and content on the internet about "bootstrapping." I had an interesting experience with this just last week. A company is looking to roll-out an innovative business model in a very competitive online business space. One partner in the business wants to grow slowly, gaining customers slowly and using the revenue generated to fund future growth.
As my children split the earnings from their first lemonade stand just a few days ago, I couldn't help but take the opportunity to teach them a little about entrepreneurship. Here is their grade in 5 critical areas of running a business, with some application for all business owners and entrepreneurs to consider:
I had a lot of fun writing this article for American Express OPEN Forum. Feel free to visit it at:
I have spent a lot of time recently reviewing, updating, and implementing financial projections into various businesses. These activities prompted me to write the following article for American Express Open Forum: 4 Secrets of Meaningful Projections .
The main take-aways include the need to make them real and the need to use them. Completing them does represent a task that you can check off of a list, never to return to your projections again. Their real strategic and comp
Some of my blog writing time has been directed to fulfilling a request to provide articles for the American Express Open Forum®. The first one is titled "3 Components of Financial Clarity" and it went live on their website yesterday.
Did you have a business plan in 2009 or if you had, have you looked at your 2009 business plan throughout the year to see if your goals and strategies were on track? If you are like most businesses, chances are that 2009 have been a very challenging year implementing those goals and strategies. When things are not going quite the way you wanted to be, you must change your goals or strategies or both, and write them down.
One reason why you need your 2010 plan now is to adjust your goals, strategies, and actions based upon current and anticipated future economy to make sure that you
I have heard this statement more often than I care to admit: "I cannot predict the future so a budget would be worthless for my business."
An article entitled How to Create a Budget in BusinessWeek prompted me to recollect some of my experiences with helping people who have the above attitude towards budgeting gain a new appreciation for the process and, more importantly, the results the process can generate.
I attended a presentation at UVEF today by Skullcandy Founder & CEO Rick Alden. By the way, Rick is being considered for the Entrepreneur of the Year award for 2009 by Entrepreneur Magazine. Vote for Rick here!
Rick brought up a thought-provoking question that no one had an answer for, including himself. We have all heard of the start-up companies that started in the Founder's basement a