Sometimes the best business ideas are not really ideas at all. They are simply new ways of doing old things. For example, Melissa Kwan created a business to help real estate agents manage their open house contacts. As she described…
Are you ever approached by people wanting your advice on how to start a business? They see you running a successful company and think, “Wow, I’d like to do that.” Their only stumbling block is that they don’t have an…
Basketball coach Don Meyer is famous for something he calls “The Foxhole Test.” He encourages players to imagine themselves in a life-or-death battle and asks them to pick the teammates they would want in the trenches with them. The test…
In the real estate business, agents refer to a home that has been renovated recently as “turnkey.” A buyer can turn the key on the front door and start enjoying the home immediately. Equally, a turnkey house is one that…
How well does your company run when you don’t show up for work? The answer to this question has a significant impact on the value of your business. Suppose your company could survive your absence for a while. In that…
What’s your number? You know the one. It’s the amount of money you would have to be offered to sell your business. It can be tempting to imagine selling for an outlandish sum, but is that amount necessary for you…
