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

Four Types of Leader – Which One Are You?

When we talk about entrepreneurs or successful business leaders, some tend to believe that certain people are just born with those abilities or interests. I’m not one of them. I once attended a workshop for a number of entrepreneurs. As part of the event, we all took the Personality Research Form (PRF) – sharing the results as a group. This … Read More

Don’t Be Wile E. Coyote

Wile E as a Leader

“Any man can make mistakes, but only an idiot persists in his error.” Marcus Tullius Cicero We’re all familiar with the classic Looney Tunes cartoon with Wile E. Coyote and the Road Runner. The entire premise of the show is the coyote’s endless pursuit of catching the road runner. As you probably remember, the coyote never catches the roadrunner – … Read More

Why Your Vision is Critical

It’s something that is frequently referred to in business school as a part of a business plan, it’s asked of from investors before a business launches, and it is necessary in maintaining success…it’s a company’s vision. What Is a Vision? An Inc. article written by Ari Weinzweig answers this perfectly: “A vision, quite simply, is a picture of what success … Read More