Top Mistakes Regarding Human Resources

When you begin your journey of starting your own business, you’re concerned with the plausibility of your idea, your capital, and your ability to market and sell it.  Typically, you’re worried about things that you are handling on your own – at least initially.  However, as your business catches on and demand increases your product/service, growth is inevitable…which means more … Read More

Woulda, Coulda, Shoulda

When you see someone who has been where you’re headed, aren’t you curious to know what it was like?  Think about the person hiking up the side of a mountain who has been trekking along for a good amount of time with no real vistas up to that point.  They see hikers headed back down and immediately past pleasantries they … Read More

Day of the Wire: If It All Came to An End Today How Would You Feel?

Perhaps the most significant inflection/reflection point for a business owner is the “Day of the Wire,” a day I’ve lived out twice in my life. It’s the day you cash out, sell your business, and see how well your work has paid off. In a way, it’s like Judgment Day without the pearly gates, because the Day of the Wire … Read More

The Cash Formula that Will Save You from Bad Decisions

Cash balance + Projected monthly collections − Monthly cash expenses = Growth decisions This, my friends, is the single most important monthly calculation that you, as a qualified entrepreneur need when making decisions to spend money. With this data in hand, you simply can’t get sucked into a bad deal. For Example… If the new business you’re considering requires two … Read More

The Bor-e-Gaged Trap

Randy Nelson Bored Entrepreneur

Bor-e-gaged…what in the world does that mean? I look at the entrepreneurial attention span as a short continuum that stretches from bored to engaged. My made-up word for being stuck smack in the middle, or vacillating frequently from left to right in the middle zone, is “bor-e-gaged”—a little of each. It’s an uncomfortable place to be. You’re not engaged enough … Read More

The Second Decision and Your Company’s Future

Randy Nelson Business Planning

By now, you’re more than likely familiar with what I call, the second decision – deciding where you want your business to go next and how you’re involved in that future. I’ve previously written in greater depth about the “second decision” – which you can read about here . This decision will be different depending on where in the life-cycle of … Read More

Entrepreneurial Education is a Competitive Edge

Randy Nelson CEO Education

No matter your viewpoint on formal education, continued entrepreneurial education is very, very important – not only for your business(es) but for you as an individual. How do you view education and what opportunities are you taking advantage of? Take a look at the following list and find your current attitude toward these entrepreneurial education options and consider your current level … Read More

Five Ways to Succeed with your Plans

Randy Nelson Leadership Success

It may still be a couple of months away, but I’m already thinking about the New Year.  As we know, many go into the first day of January with a laundry list of resolutions that they’re determined to make and keep.  Yet, so many of those resolutions are lost to the habitual patterns of real life… The same can be … Read More

Company Core Values

Your vision for starting your company was no doubt built on a set of values that you feel strongly about. Entrepreneurs, being the visionaries and creators that we are, are great at establishing core values— but many of us create our core values with only positive outcomes in mind. In the excitement of a new enterprise, and amid the exuberance … Read More

COGS – nizance….What’s That??

cost of goods sold

If you’ve read my book or articles you’ll know that I’m a big believer in being in tune with your COGS, or cost of goods sold hence the term, COGSnizance. So that exactly does it mean? To make sure we’re all on the same page, I’m defining COGS as all expenses in your business, in terms of percent of revenue, … Read More