How to Be an “Open Book” Business

John Case, of Inc. Magazine, coined the term ‘open-book management’ in 1993. The idea behind the strategy was that companies would perform better when employees view themselves as partners in the business, rather than the hired help. At its simplest, open-book management means sharing the financial statements with employees, in order to empower better overall results. Corporations are less inclined …

Investing in Ingenuity

Ingenuity, creativity and innovation stem from our innate desire to create something new, something better. Discovering and offering the newer and the better is the lifeblood of small businesses. As managers, owners and leaders it is crucial that we encourage and support creativity and innovation in the workplace. Longevity is always a goal for small businesses and investing in ingenuity …

How to Know its Time to Grow

A novel concept, but our best ideas don’t always appear in light bulb form above our head!  More often than a ‘flash of genius’, the best business decisions are carefully considered and slow to come to fruition. So how do you know your business is ready to start the process of growth? Trees take time to form strong roots before …

Preventing a Cash Flow Crisis

Managing and protecting the cash flow of your small business is pivotal to long-term success- we all know this. The inability to manage the ebb and flow of cash can cripple inventory, negatively affect growth and create a back up in bills that can be hard to overcome. Keep in mind that cash flow refers to the positive balance available …

“Professionalizing” the Family Business

Statistics show that approximately 35% of Fortune 500 companies are family-controlled. At some point, these were all small start-up enterprises who kept it in the family while getting things off the ground. But at some point those mom-and-dad ventures must take on a more professional face, presenting themselves as competition for the big guys. This can be a tough balance …

Best Business Practices for Small Business

You have likely heard of best business practices- outlining the most forward-thinking and highly adapted strategies being employed in the current industry, but here we want to be more specific towards small businesses. What are some of the best business practices or principles that are timeless, and best modified towards supporting small business platforms? We compiled a list!  Stay up …

First time managers? Read on!

Regardless of industry or niche, the recipe for first-time managers is always the same- equal parts exhilaration and total fear! Stepping into the leadership limelight is definitely something earned, though many of the best tricks of the trade are only learned through experience embracing both the exhilaration, and the fear. One of the more unexpected tips that seasoned managers say …

Lessons businesses can learn from the Women’s March

  On January 21st, 2017, people across the globe marched in unison, to advocate for legislation on human rights, immigration reform, healthcare reform, LGBTQ rights, racial and gender equality, work place rights and more.  It was a bold and transformative display of solidarity. Interestingly enough, one of the things small businesses share in common with such a movement is a …

What makes an effective team?

  It’s possible that at one point in time, your business was a one-person show. Though growth and expansion inevitably leads to the building a team, the team that becomes the lifeblood of your humbly built operation. An effective team is like an orchestra- many different instruments, many different players, one piece of music. The success of the song depends …