Ah, inventory. The bane of a retailer’s existence. Whether you sell clothing, car parts or cat food, inventory is a necessary evil. But it’s much more than that; it’s an important business component that, when managed effectively, can help you maintain tight margins and trim overhead. When managed poorly—or not managed at all—it can be a money pit.
Mind over matter.
Where there’s a will there’s a way.
If you can dream it, you can do it.
They’re sayings you’ve heard over and over again, and they all have one thing in common: the power of a determined mind.
When you’re an entrepreneur, it can feel like you’re an army of one. You’re the leader, the captain of the ship. But you’re also the chief innovator, strategizer, salesman extraordinaire and signer of paychecks.
“People will kill you over time, and how they'll kill you is with tiny, harmless phrases, like be realistic.”
Social media is ever-evolving. The strategies that worked two years ago are now outdated, and if you don’t adapt you’ll quickly fall behind.
There are a few measurements in life you always keep an eye on. The level of gas in your car. The temperature outside. The amount of coffee left in the cabinet. Knowing these measurements helps you keep your life running smoothly; you’ll never run out of gas unexpectedly, get caught in a cold front without a coat or be forced to spend the morning as a caffeine-free zombie.
In the same way, your business also has a number of important metrics known as KPIs—key performance indicators—that gauge the health and financial position of the company.
As we prepare to publish this post, the new year is almost upon us. It’s a time for resolutions and big goals, planning and excitement. It doesn’t have to be a new calendar year, though, to seek out fresh sources of inspiration for your business. The best entrepreneurs are always evolving, finding entrepreneurial inspiration in the everyday and the unfamiliar.
From finance to real estate, retail to road construction, it doesn’t matter what field you’re in—we all use email. And I’m willing to bet we all feel pretty overwhelmed by our inbox a decent amount of the time.
Giving back is always a good thing, especially around the holidays. I’m pretty sure if we took a poll, 100% of entrepreneurs would say they’d like giving back to be a core part of their business model.
Any business is only as good as its systems. You might have the best business concept in the world, but without systems, you’ll never be able to grow the operation to scale in an efficient and profitable way.