We are excited to share upcoming events and entrepreneurial articles on The Growth Dilemma website. Check back regularly to see what's new.
October 4 & 5, 2018 Growth Dilemma Session
Nashville, TN - Ami will have "Office Hours" at IDA Conference.
October 17 - 19, 2018 Growth Dilemma Session
San Antonio, TX - Ami will head round table discussions, present to attendees, and sign books at this years Inc. 5000 celebration
October 25 & 26, 2018 Growth Dilemma Session
Atlantic City, NJ - Ami will be a keynote speaker and have "Office Hours at IT Synergy Conference.
Ami Kassar is a regular Inc.com Contributor
Based on a recent study, it appears you would do more than you think to save your business and here's why.
Your business is developing nicely, showing solid growth backed by a quality product or service, a strong management team and a pronounced need in the market.
Then the bottom falls out.
It doesn't really matter what is causing the problem - it could be anything from a management team defection, a competitor introducing a better product or service, a general recession, a rapid increase in the price of raw materials, a fire destroying your inventory or a million other things.
Using an SBA Loan in a Creative Way
Hypothetical example of the day: A client has a successful consulting business that’s been growing slowly but steadily. She’s well-respected in the field and has carved out a solid niche.
Her top-line revenue is about $2 million annually, After all is said and done, she’s taking home about $350,000 in profit. She’s not rich, but she’s certainly comfortable. Continue reading...
Is A Family Business or Partnership Right for You?
Here are some tools to help think it through.
What does Harper Lee’s classic novel “To Kill a Mockingbird,” which was turned into an equally stellar film, have to do with business?
It gave us this quote: “You can choose your friends, but you sho’ can’t choose your family.”
And while relatives are the banes of existence for some people, that doesn’t stop many entrepreneurs from starting family-owned businesses–or entering into partnerships with close friends, who can be just as frustrating as relatives.
In my loan advisory firm, we frequently get phone calls about partnerships that have gone awry.
Let’s look at the pros and cons of a business with principals having close ties. Continue reading...
Are You Managing Your Business Like Your Household Budget?
It might be time to expand your thinking.
At the end of one of my Growth Dilemma workshops last week, I asked the participants for feedback about what they had learned. One woman commented that she learned to “manage her business more like a business, and less like a household budget.”
What did she mean?
If you think about managing a household budget, you have to match your expenses with your income. And hopefully, there is something extra at the end of every month to save and splurge on something special. While the budget can create pressure and tension, the math and process is relatively simple.
Are You a Tortoise or a Hare Entrepreneur?
And why it matters.
Do you remember “The Tortoise and the Hare,” one of Aesop’s Fables, written by the ancient Greek storyteller and slave? In this seminal tale, an arrogant hare ridicules a slow-moving tortoise. The tortoise challenges the hare to a race, which is readily accepted. When the race begins, the hare jumps out to a huge lead, but over confidently decides to stop to rest and inadvertently falls asleep. He awakens to find the steadily moving tortoise has won the race.
What does this have to do with business? Plenty, it turns out.
It seems when it comes to entrepreneurs, there are two kinds – hares and tortoises.
Which kind are you? Read on to learn more. Continue reading...
Five Dilemmas Entrepreneurs Struggle With
What is your growth dilemma ?
The classic stereotype of an entrepreneur is one who is always running, pushing the envelope and taking risks. This is the “sex appeal” of entrepreneurship that many dream about and aspire to. Yet it’s important to know that at every stage of their journey, entrepreneurs have quiet fears or dilemmas that are holding them back. Continue reading...
Early Financing Decisions Matter - A Lot
Take time to think two steps ahead.
Starting a business is an exciting time in anyone's life. Often when we're in those "early moments," we make decisions that have unintended consequences in the future. This is particularly true when it comes to finance and partnership decisions - which are often extremely difficult to unwind. Continue reading...