Do You Really Invest in Yourself as an Entrepreneur? | Allbusiness.com

September 26, 2014 ~ knjohn ~ Leave a comment

I’m writing this post from my new, shiny HP desktop. It wasn’t cheap, and I dragged my feet on the purchase for years, but I’m glad I bought it. I’m now more productive, and stressing less over slow load times. Are you like me? Do you find your business or your professional development to be the last thing you invest in? I think it’s a symptom of being a micropreneur. If we had staff complaining about their computers, we’d have to do something about it. But when it’s just us, we put up with faulty equipment and subpar technology just because we think we’re not worth it. Let’s change that.

How to Improve Your Business Credit Score | Businessnewsdaily.com

September 26, 2014 ~ knjohn ~ Leave a comment

If you’re good about keeping your personal and business finances separate, you may think that the only credit score you have to worry about is your own. While maintaining good personal credit is certainly important if you’re applying for business loans, you may not realize that your company has its own credit score — and it’s just as essential to monitor.

“Businesses in the eyes of the law are treated like people,” said Jeff Stibel, CEO of Dun & Bradstreet Credibility Corporation, which provides credit-building and credibility solutions for businesses. “The smallest businesses tend not to incorporate or get a credit file, so they [think they don’t] have a credit score. Whether you’re proactively trying to get your score or not, it’s very likely that you still have one.”

4 Neuroscience Secrets to Remain Calm Under Pressure | Inc.com

September 25, 2014 ~ lmehit ~ Leave a comment

Great leaders always seem to remain calm during situations that make mere mortals fall to pieces. Conventional wisdom says that the ability to remain calm is a character trait that most of us lack.

Neuroscience, however, has recently revealed that remaining calm under pressure is not an inborn trait, but a skill that anybody can learn.

Here’s how it’s done:

1. Understand the biochemistry.The opposite of remaining calm is the state of “fight or flight,” a physiological reaction that occurs in response to a perceived harmful event, attack, or threat to survival.

Time is of the Essence in Funding Deals | Peter Mehit

September 23, 2014January 22, 2015 ~ knjohn ~ Leave a comment

‘Time is of the essence’ is a contract clause used when an action must occur by a certain time or the deal is in jeopardy, such as the buying and selling real estate. The reality is, when dealing with funding sources, that time is of the essence for the entire transaction.

I have seen deals that seemed rock solid, collapse. The reasons for their demise didn’t come from any unsolvable disagreement or lack of information. Looking back, I see that many of them just simply took too much time.

When an applicant applies to a bank, there is a flurry of activity. Applications are completed, appraisals ordered, interviews conducted. There is a lot of information gathering as the bank prepares the loan package for underwriting. Once the package goes behind the curtain, the wait begins. Occasionally, requests for information will come from underwriting. If underwriting likes the deal, they’ll defend it to a loan committee and the deal is, or is not, approved.

Continue reading “Time is of the Essence in Funding Deals | Peter Mehit” →

5 Ways for Bootstrapped Startups to Get Through the First Year | Entrepreneur.com

August 29, 2014 ~ knjohn ~ Leave a comment

In the eyes of an investor, a bootstrapped startup that has proven stable and successful within the first year is powerful. It not only raises confidence in the product and the leadership behind it, but also indicates that any invested money will likely not be thrown away.

Ultimately, when it comes to working with investors, it’s important to prove that a startup and the people behind it not only know how to spend money, but know how to bring in additional money.To successfully bootstrap a company in its first year, it’s important to consider a few things:

The Four Stages of Financial Independence | The Simple Dollar

August 29, 2014 ~ knjohn ~ Leave a comment

Financial independence is a tricky phrase because it can mean different things to different people.

Right now, I view financial independence as being a state where I no longer have to work for money. Yet, seven or eight years ago, I might have viewed it as simply being free from worrying about my next paycheck. At different points in there, I might have seen financial independence completely differently.

Along the way, I’ve come to realize that financial independence is made up of a series of stages. Some people might see more stages, while others might see fewer; I see four clear ones. In my own financial journey – and in the journey of others that I’ve had conversations with – “financial independence” generally means the next stage that hasn’t been achieved yet.

For example, once upon a time, I viewed financial independence as not needing to rely on my parents or on my very next paycheck to survive. As I achieved that, my definition changed.Let’s walk through these four stages and look at what needs to be done to achieve each one.

How to Attract and Keep Great Employees | Inc.com

August 28, 2014 ~ knjohn ~ Leave a comment

I can’t imagine anyone saying they want to work for an “OK” company. As entrepreneurs, we all want to create a great company that people want to work for. But how?

A Great Place to Work, a global human resources consulting, research, and training firm, has identified and studied effective workplaces for 30 years in more than 40 countries. According to the firm’s website, its research “has shown us time and again that investing in a high-trust workplace culture yields distinct, tangible business benefits. Our studies of the 100 Best Companies show that great workplaces enjoy significantly lower turnover and better financial performance than industry peers.”

So if a great culture is something everyone wants and it improves overall performance, why are so many companies… not great? I recently asked China Gorman, the CEO of A Great Place to Work which is the creator of the Fortune 100 Best Companies to Work for and the 50 Best Small and Medium companies lists about how she addresses these issues–and how her organization advises companies on creating winning environments for their employees.

3 Tips for a Workplace Bullying Policy | Businessnewsdaily.com

August 26, 2014 ~ knjohn ~ Leave a comment

It’s rare to find a school that doesn’t have an anti-bullying policy nowadays. The modern workplace, on the other hand, hasn’t seemed to follow suit. While most companies have some sort of system to deal with sexual harassment, very few actually have a clearly defined policy for reporting and dealing with bullying.

“Bullying in the workplace is something that’s often overlooked,” said Jennette Pokorny, COO of human resources service provider EverNext HR. “People should come to work and feel safe. You don’t want to allow something minor to escalate.”