"To make our revenue goal for 2010 we’ll have to do an acquisition. Now is probably a good time. We know a few owners in businesses related to ours who want to get out. What should I look out...
"I’m concerned. My partner’s sole focus is on bringing in more sales and partnership opportunities. Some things just aren’t profitable enough and we might be better off without them. How can I get my message through?" Understanding what drives profit...
"Last week I attended a program at the Westchester County Association. The topic was planned giving. I was intrigued, but as a small business I have limited resources to put towards philanthropy. Please talk about the pros and cons...
"Things are looking up. Right after we get through June, I want to give my employees a mid-year bonus. We didn't give raises or bonuses last year. We are now doing much better and I want to show them...
"We've tried to control purchases, stay on top of what people need and buy from specific vendors. Things still slip through. We make mistakes in payments, get things from the wrong vendor, loose track of things, etc. Any suggestions?"...
"Have you ever heard of a term called MIFROG? If so, can you explain what it means and how I should use it in my business plans?" MIFROG stands for Maximum Internally Financed Rate of Growth. In today's economy...
"It was tough going keeping existing customers and selling new opportunities in 2009. I hesitate to project an upswing for 2010. What do you think will happen to small businesses in the coming year?" Small business should absolutely forecast...
"What's the difference between markup and gross margin? Which is better to use? I was told our gross margin percentage is much smaller than our mark up percentage. That disturbed me as I thought they were pretty much the...
"I'd like to grow by buying a business. Over the last two years I've been talking to a lot of small business owners. Some owners are now more anxious than ever to sell. For others, vendors, landlords and major...