To establish a small business in Canada the first thing you need to find out is some small business grants for funding your business. It is not an easy task although to locate the best available grants in Canada. Most of the small business grants Canada government offers are restricted to some specific types of business at specific locations. And to avail those, you have to abide by certain terms and conditions and invest some amount of personal money as well.

Though there are quite a few subsidies for funding small business, to find out a small business grant you have to search really hard. You have to know where to look for to get a grant which would not have too many terms and conditions and will be easy to avail. As there is no readymade list available for the small business grants Canada government has, to follow some guidelines would always be helpful to make the search less difficult.

If you log on to the websites of Canada government, you will rarely find the term “small business grants”. This is because the government offers very limited grants for small business. Instead of searching for small business grants Canada, you can look for contributions, subsidies, rebates, tax rebates, shared costs, or non-repayable loans. This can be helpful because through these searches you can find out some non-repayable funding for your small business, which can actually serve the purpose of a small business grant.

Businesses which fulfill the criteria of availing grants from Canada government or those located in areas which are specified for government grants, can obtain the small business grants Canada easily. But for other businesses, obtaining funds may be slightly difficult. In Canada, retail businesses receive the least funding from government grants. And businesses located at a particular area get more grants than those of other areas. So, you must plan to locate your small business accordingly to get the best possible grants.

The core sites of the Canadian government are helpful in providing the lists of small business grants Canada government assists with. The Industry Canada Website will give you information about the available government grants in your region. Another such helpful core site is Canada Business Network. And you can also visit the regional Business Service Centre websites, some of which will have helpful information on small business grants.

To make your search more specific, you can look for grants which are available for the particular type of small business that you want to start. Searching on the Canada Business Website by Business Sector can be helpful. Searching through search engine may also useful if you know where to look for.

If your business will be involved in exporting, research and development, or improvement of the environment, chances of getting a small business grant for your small business will be much higher. Special emphasis are now given on developing alternative energy sources and green energy options.

Though the small business grants Canada government offers are few in number, by putting yourself at the right position, you can easily avail the grants for funding your small business.



By: Jhoana Cooper

About the Author:

ITIN Number

I had a dream a few years ago starting a restaurant business and make a living from this particular industry. Having a good and profitable restaurant business needs a hard work and big investment, I have seen many restaurateurs have failed in managing their businesses during the first and second year of operation due to lack of knowledge and skill, and also some financial issues. But, if we know exactly how to start by following certain criterias and crucial elements, this business can be really rewarding, and of course we do need to know how to satisfy our clients. Then, what should we know in starting a restaurant business?

Here are several crucial aspects to explore and consider before starting a restaurant business, I am sure if we can carefully consider these aspects as a serius concern, then we can at least minimize future failures.

First, decide what the best concept of your restaurant is. This is really important if you can decide before starting a restaurant business. Everyone in the world is always looking for food and there are hundreds of available good restaurant concepts we can choose. When deciding a concept for your restaurant, try to meet your interest. It is believed as an issue that will ease you when running and managing the business since you are quite familiar with the kind of restaurant concept.

The next aspect to consider when you are looking for fresh investments is to create a good business plan for your restaurant. There are many potential partners out there you can invite to invest in the business. Do your best to create a good and promising business plan with excellent analysis based on the concept and future plan.

When starting a restaurant business, a good location will also be another crucial aspect to consider. It reflects to the target market of your restaurant since the market is going to be your potential clients where you will earn future profit. It is recommended if you come up with several location alternatives to choose, discuss these alternatives with your business partners to get the final decision on desired location for your restaurant. Please do remember, once you have chosen a wrong location without carefully analyzing your target market, the demand in that particular location  and other infrastructural aspects of the location, you cannot turn back the time. So, finding a good location is really something that is very crucial to decide.

Once you have done with your restaurant concept, a good business plan and the location of your restaurant, the final stage is to design a comprehensive training and operation manual for the restaurant. It will help to build your business identity and as well as to facilitate your establishment and staffs with with high level of standards and procedures. This is what your clients are looking for, they need to be satisfied when visiting your establishment, so you have to work very hard in building your clients satisfaction in order to run a profitable restaurant business in the future.

Hopefully, these four key elements,which I consider as crucial aspects when starting a restaurant business, would be able to describe your roles in the business. If you can manage these elements smartly then I believe your restaurant business will surely contribute good sales and end with expected profits. There are some other important aspects a restaurateur need to focus on when starting a restaurant business, for instance, a realistic marketing plan for the business and supporting restaurant toolkits such as: menu design, cashiering or point of sale system, uniforms, etc. As time goes by, you can look for details on these additional aspects while doing four aspects above when setting up your business.



By: Robertus Robby

About the Author:

If you are looking for starting a business in retirement you have basically two options. To start something from scratch or to buy and existing business. Both are viable options, and both need some analysis to help you determine which is better for you.

Do you want to spend valuable start-up time and money learning the ropes before you get any income? When you buy an existing business that has all been done for you. You step into a revenue flow from day one, but it might cost more. What’s more important? Go through the process of start-up before you make any money or have a cash-flow from day one.

Buying a business that is for sale by a retiring owner is desired. This is why:

There should be (theoretically) nothing wrong with the business

Some owner sell business because they have to. They don’t know how to run them properly, ran out of money or many other reasons. A retiring owner simply wants to cash in and not operate the business anymore. The business could have problems, but it’s less likely. In addition, a retiring entrepreneur might be a “motivated seller”.

The vendor won’t be a competitor.

The chances of the seller opening a store just like yours in a different (and maybe better location) is almost non-existent. In spite of non-compete agreements which are difficult to enforce – this is an important factor. In a perfect transaction, the retired owner will help get going and move on to a beach somewhere. He or she might even be available to advice you from time to time.

The retiring owner might be willing to work part-time

One of the challenges in buying a business is to learn the ropes. If the seller just wants to move on you could spend valuable time learning how things are run. An owner wanting to retire might stay on a while to teach you the ins and outs of the business. He or she will help you get to know the staff and operating procedures. This also helps maintaining the goodwill the owner has established over the years. Introducing you to the clients and so forth. In addition, it will “look” better that you took over a business from a retired owner than someone who might not have been a good business person.

Retirement-driven business sales usually means the business has been around for some time.

You would prefer that the business is well established. This reduces the risk to you, since there will be experienced and trained staff to help you in the transition. I would look for at least three years of operation. Anything less should raise a red flag – why sell so soon?

Do you have to pay more for a retiring owner business?

Technically, you would be paying more for a business with less risk exposure. If all of the above is true, risk is reduced, and risk is money.

In considering the tips above you still need to do your due diligence. The numbers need to speak for themselves and match up with your own tolerance for risk and desire for future growth and profits.

Ingvar is getting close to “the golden age”. He writes about entrepreneurship

after retirement.

www.retiremententrepreneurs.com



By: Ingvar Grimsmo

About the Author:

ITIN Number

Registered Agent Services: What every Business Owner needs to Know?

It’s important to note, business owners who choose to form a corporation or LLC will be required to have a registered agent. Although this is a common requirement, several business owners are opting for third party registered agent service providers instead of hiring their own lawyer/registered agent. This is due to the fact that third party registered or resident agents can be contracted at a much lower price point… saving businesses and business owners money.

If you are unfamiliar with registered agents, these individuals are responsible for receiving legal and tax documentation. Registered agents receive these documents on behalf of the business. These agents are required for all corporation and LLC’s because they provide a permanent address, during normal business hours, in which legal and tax documents can be received.

Every legal entity conducting business as either a corporation or LLC is required to have a registered agent. For every state in with that business operates a registered agent must be in that state of business. For example if a business owner has a business in two states, such as Massachusetts and New York, a registered agent will be required in both Massachusetts and New York.

Registered agent services and third party providers are great due to a variety of reasons. There are several situations in which having a third-party registered/resident agent is a great option.

1) Your business is located in several states:

If you are a business owner and your operate your business in several states, it’s easy to have a third party registered agent service provider monitor documentation of your business. One company will handle all of your documentation and you will not have to worry about contracting out individuals from several different companies.

2) You want your business matters to stay private:

Many business owners choose third party registered agents because they want all legal/tax documentation to go to their agents address, instead of their place of business. Typically the resident agent will be mailed necessary legal/tax documents and then deliver these to the business. This way your business matter are kept completely private and confidential.

3) You change your address often:

If you are a business owner who moves around frequently, maintaining a third party resident agent is ideal. If you do so, anytime you move, you won’t be inundated with paperwork you will need to file so that the necessary legal/tax documents reach you. If you are your own agent then you would have to file “change of address” forms and possibly pay an additional feel. As long as you have a third party agent, the documents will go to their address and you don’t have to worry about the changes.

4) You are too busy to monitor your business legalities:

Naming yourself as the registered agent means that you will have to maintain all the proper documentation and file the necessary paperwork. Often times this can become very confusing. If you want to take some of the load off of your back, hire an third party agent to do this work for you. This way you can focus on making money for your business, as opposed to wasting time making sure all your paperwork/filings are up-to-date with the state(s).

5) You need professional guidance:

Registered agent service providers are the professionals. They know what they are doing, so let them carry the weight. If you don’t want to play the guessing game with filing dates and necessary requirements, let your agent do this for you. Work on growing and making money for your business instead.



By: TLupo85

About the Author:

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More small business questions please visit : Small-business-FAQ.com



By: SmallBusinessfaq

About the Author:

Lawn mowing business entrepreneurs need a lot of two very important things. They aren’t talked about much because most experts don’t know about them or if they do, how to explain it.

When I first heard about these 2 things I was a bit apprehensive and saw the two as one. I was wrong.

Successful entrepreneurs in this industry have: resources and resourcefulness.

Let me explain.

Resources are tools you can use to build and run a lawn mowing business. Much like the products I offer. They can be books, audio, video, expert advice, etc.

Resourcefulness is the ability to take the resources you have in hand and to use them to your advantage. Ultimately accomplishing a goal you have set out to achieve.

Picture a car.

The car is the resource. The tool to get you to a destination. The knowing how to drive the car and where to go is the resourcefulness.

Really, we need resources to be resourceful.

Now, I am an information sponge. Any chance I get I collect pictures, articles, books, audio, etc. Everything and anything that could be used to get me to the next level or to overcome a challenge.

For example, if I come against a marketing challenge, I look at everything I have in hand about marketing. I study. I read or re-read a book. I dig until I find the answer.

I don’t stumble around in the dark. I find out what someone else did and bypass the pitfalls others are falling into. Just like many, many of you who have bought my course and are using my lawn business experience to get you to your goals a whole lot faster.

Let me share 2 quotes with you from 2 men I greatly admire that will bring this home. These quotes nail down the point of gathering resources and putting them to use.

“Everything you need for your better future has already been written. It’s all available. All you have to do is go to the library. But only 3% of the people in America even have a library card. They’re free.”

- Jim Rohn

“Feed your mind constantly with the words and images and input consistent with the direction in which you are growing. Read books and magazines for personal and professional development. Listen to educational audio programs at every opportunity. The more you read, listen, and learn about any subject, the more confident and capable you feel in that area. As you improve your inner understanding, you automatically improve your outer results.”

- Brian Tracy

In closing, remember that some of the top entrepreneurs in the world were bankrupt or went through some very rough times (ie Mark Victor Hansen, Sam Beckford ). But somewhere along the line they stopped in their tracks and made a decision to get some resources like a book. Read it. Then tap into their resourcefulness and put what they learned to use.

Make a list of resources you feel you need to get a hold of. Make a plan to get those resources. Use your resourcefulness to take action on what you learn.



By: Daniel Pepper

About the Author:

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Introduction

Many small businesses today are working harder than ever to find new ways to reduce costs and streamline their operations. At the same time, these businesses are also generating more data throughout their organization than ever before. Data that must be protected while being more widely available. In the past businesses had only a few megabytes of storage on servers and desktop PCs to worry about. If they were diligent, they backed everything up daily onto tape drives.

Today, businesses are under growing pressure to insure that the data they produce is protected and available on demand. Large corporations use large scale data storage networks and clustered storage farms to manage and keep their data safe. But those solutions are far too costly and complicated for the average small business.

What can a small organization do that is looking for a reliable, flexible, cost-effective, storage solution? This article will look at the benefits to small business of integrating Network Attached Storage (NAS) solutions into their network infrastructure.

Network Attached Storage (NAS) Defined

Network Attached Storage (NAS) was introduced by Novell as a file-sharing system in 1983. Sun Microsystems created the UNIX based Network File System (NFS) protocol in 1984 which allowed network servers to share storage with networked client systems. The first dedicated NAS system was built by 3Com in 1985.

Today, a Network Attached Storage (NAS) system is basically a stripped down server that is designed from the inside out for high performance file-based data storage on your network. NAS systems come with all the major components of a server: a CPU, a motherboard, RAM, etc. And just like a server, a NAS unit is only as reliable as its components, software, and configuration. NAS units come in a variety of types and sizes from simple standalone units for the networked home PC and entertainment center, up to high capacity rack mounted units suitable for larger corporate data centers.

NAS systems can be connected to networks in a variety of ways: Ethernet, Fiber, iSCSI, Wi-Fi, and even using USB2. Generally though, NAS would be attached to your businesses network using Ethernet. Because the performance of NAS is tied to your network, it is essential that your infrastructure is working as efficiently as possible.

NAS Functionality

NAS functionality is targeted for heavy duty file-level, file-sharing. The most common NAS protocols and file systems in use include, though are not limited to Network File System (NFS), Common Internet File System / Server Message Block (CIFS / SMB), Multi Protocol File System (MPFS), VMware’s Virtual Machine File System (VMFS).

NAS can be setup to handle just about any client accessible files using whatever file-sharing system there is. Microsoft, UNIX, and Linux file systems for example are thoroughly supported. On the application side Oracle, Apache, MySQL, and more are covered.

The performance of a NAS device depends on a number of factors including the configuration of the hardware, the operating systems efficiency, the speed of the network connection, the amount of traffic on the network, and the number of clients accessing files on unit. Make no mistake, NAS performance is not going to be on par with Direct Attached Storage (DAS). However, when properly sized, and configured, NAS is a solid performer providing very good overall value.

Deciding which NAS solution is right for you depends on where, and how, you plan to use it.

What to look for in NAS

When you count data safety as your most critical issue, your NAS system choice at a minimum should have the following: redundant power supplies, redundant disk controllers, and have good RAID 5 support. Additionally, you should look for a NAS system where the operating system used is well supported and specifically tuned for the type of data storage and file serving you intend to use it for. Look for mixed file system support, multiple data paths, secure shared access to files, and simplified management of all these functions.

Because your NAS is going to be a popular resource on your network is would be a good idea to keep it on a Gigabit Ethernet connection. There are NAS units available that support wireless 802.11a/b connections but they are very limited due to the available bandwidth on these types of networks so use them with very small, low demand, groups.

Storage on a mid-range NAS unit, targeted towards small & medium sized businesses, will typically use multiple disks arranged into logical, redundant storage containers or Redundant Arrays of Inexpensive Disk (RAID) arrays. There are a number of different types of RAID systems available and some are geared towards performance of over safety. For example, while RAID 0 yields superior performance it offers no redundancy. If one of the disks fails, the entire array may be corrupt beyond recovery.

If data safety is important to you, a better choice would be to use the popular and well supported RAID 5. The drives in this type of configuration use a standardized redundancy system that allows a certain number of failed drives to be safely replaced. Once the replacement drive is in place RAID should rebuilt the data onto the new drive without losing any of your data. And while this is a slow process, especially if the system stays in production, it is a relatively safe process.

When sizing the capacity of a NAS unit, start with a rough measure by estimating the maximum amount of storage you think you’ll need and then double that figure.

NAS for Servers

Your servers can benefit from using NAS units in a number ways. First, NAS can increase your data serving performance. Servers gain performance from using NAS to remove the heavy I/O responsibility of file serving. This frees up the servers processor to do more for your applications.

NAS is also a solid solution for further increasing performance of virtual servers as NAS units can be configured to work with virtually any file system and can provide file serving resources across virtual platforms.

NAS can also provide for load balancing of high activity file server access like database, email, and web servers. Your web server or email content is stored on one or more NAS systems. The server load balancing system uses an algorithm to distribute file requests evenly across the system. The NAS will efficiently process all server and user requests from one central repository.

NAS for Workgroups

One of the issues I still run into from time to time is data stored for whatever reason on local hard drives. The main issue with this is that it rarely, if ever, gets backed up. When the PC hardware eventually fails or an application fault corrupts some data, it often takes all of this work with it. And data recovery services are still painfully expensive.

NAS and workgroups are made for each other. Configuring your various client systems to use NAS is a simple and fast way to consolidate valuable data and add a layer of protection for your data. Using NAS to consolidate data encourages and simplifies file sharing and collaboration. Another key benefit is that the data can be stored in a secure central location in your organization where it is easier to manage. NAS is also immune to many common client and server hardware failures. If a client system isn’t working the user moves to one that is and accesses their work from there. The same principle applies to servers.

And because NAS is flexible enough to work with many popular file systems like those used by Apple, Microsoft, Sun, and Linux, NAS is very cost-effective.

NAS for Backup

NAS is ideally suited as a backup solution. In comparison, NAS is superior in many ways to legacy tape systems. Performance of disk-to-disk backup and restoration is far greater with NAS than tape. And remember, when a tape or the tape drive goes bad it’s never good news. Replacing a tape in a series can be a daunting task and finding out a tape is bad several months down the road can catastrophic. NAS is a faster and more secure solution to your data backup needs.

Use NAS for temporary parking or staging of data that is out of the current production cycle. Once the data is ready for archiving it can be sent, via encrypted network transfer, to an online, off-site, data storage service. You can also backup servers to NAS using disk-to-disk or as a Virtual Tape Library (VLT). Or you can backup to a mirrored NAS unit (RAID1) with an attached tape drive for long-term archiving later.

As I mentioned a moment ago, using NAS with parked / staged data, ready to send to an encrypted online data storage service, preferably one that is outside of your geographic area, is a far better solution to local backup. In terms of disaster recovery and business continuity, it is a solution that can have your business back up and running again quickly.

One side note, if you decide to continue using tapes, be sure you have a way to get the tapes far enough away from the effects of any potential local disaster. (Can you tell I live earthquake country?) Either FedEx them to an out of state branch office or data storage facility. Because if your building gets damaged in a quake, or flood, or whatever, and your tapes are in your building, well, you get the idea.

Summary

Safely storing your companies data is critical in today’s productivity driven market. Having the information your company needs, when and where it needs it, can make the difference between making and keeping or losing customers. Small businesses can use the versatility, reliability of NAS systems as a cost-effective part of their network infrastructure in many ways. NAS is a tool that can help keep your business lean and agile while providing scalable solutions for the future.



By: Mark H. Jessen

About the Author:

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Part time business partner?

anyone looking to launch an online business please contact me: mcshee_16(a) hotmail.com I am not looking for investment. Everything will be 50/50. I’m from London so can easily flea market around here. I have network design and marketing experience. =)

please backing me surrounded by building my restaurant concept!?

i have an Asian restaurant within a small town 3 months in operation, sale is slow. what sales and marketing strategy should i do to increase sale and make the town adopt my products?

Pregnant and surrounded by desperate obligation of Business warning?

I pregnant and my business (photo, video, dj and coordination for weddings) is becoming debt and my husband makes adequate to pay the mortgage. I needed trained editors, a sale person that would bar all the marketing, and sale to free…

Quicken or Quickbooks for online home business?

My husband and I run our own online marketing business at home and are still getting started. All of our transactions are through paypal, but for tax purposes and history keeping, we need a bookkeeping program. Quicken is much cheaper than Quickbooks, but is…

should i bring a second situation?

i own a small food establishment. to bring in more money, should i win a part time charge or work very firm at marketing or advertising to bring surrounded by extra money? thank you

should i invest contained by marketing for my unmarked bussiness?

i belive that marketing is very high-status in any bussiness! but i own very little funds right very soon! so shud i still go ahead and invest within marketing or shud i do it in a small road that suits my…

Sir/Mam, I wan to launch one project related to marketing, MLM base, suggest me, what to do to register?

not

Starting a consulting business and inevitability abet?

I have required to own my own business for some time now and I own many recommendation in adjectives the right areas. My problem is getting motivated to do the things that need to be done, mostly marketing and only getting my name…

Starting a up to date company – exactly how much tolerance is average ?

5 months ago I started my own (internet) company. Business takes bad incredibly slow. I am subscribed to just roughly speaking any marketing newsletter, course, SEO courses, you name it, you can guess of, and…

Starting unmarked business.. any marketing warning?

Starting a cleaning service that uses natural/botanical and environmentally safe products. Need clever thinking on marketing strategy…

Tips for Opening a Small Restaurant?

Already have the premises and a small customer foundation, I’m pretty good at marketing, love cooking and will enlist a waitress. I’ve already got insurance and alcohol license as it’s surrounded by a Hotel with pole, etc. I want my place to be…

we own a pet grooming and a puppy store open within our plaza, what are devout marketing practices?

Please help us develop a strong relationship near our customers, what would be the best way to reward our customers? or to find bright ones without them stealing ours?

What are dutiful (inexpensive) ways to effectively flea market a retail art sale website?

I have not long launched a gallery and retail sale website for my limited edition photographic artwork (www.photointrigue.com). Can anyone suggest significant and inexpensive marketing methods to build site traffic and help generate sale? …

More small business marketing questions please visit : Small-business-FAQ.com



By: SmallBusinessfaq

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To become a business coach, one has to face several challenges. Apart from knowing the art of pushing a person to optimize his performance, provide him with the right support when he is exhausted and teach him on how to execute strategies, a coach also needs to know how to run his own business. Yes, having a business owner mindset is necessary because this will drive him to peg the right business coaching salary.

Thinking the Way Non Business Owners Think To Become the Best Business Coach with a Great Business Coaching Salary

Most often than not, people expect results out of whatever action they take both in their businesses and life in general. That’s understandable since doing certain things have rational outcome. The same goes out for coaching.

In order to achieve something, you must do something about it. As a business coach, one way of attracting more clients is to show them that you operate on a level above DOING.  You are an ACTION person.  You must know how to take control of things.  You have to teach your clients to act on things not just by merely DOING it.  You must inculcate into your client’s mind that in every ACTION that he takes, he must pour his heart and soul into it.  To succeed in business, you must have the heart for it.

To become a business coach, you must think beyond the mind of a business owner.  You must think like a customer too.  You must know what a customer needs and wants.  Aside from that, you must think like a worker as well.  Know what an ordinary worker feels.  Know what the worker is experiencing.  Different views and thinking will help your client know what actions to take.  You will be able to teach the business owner some tips on how to handle people.  Having those abilities as a business coach will surely make you brilliant in your field.  Thus, you will be able to dictate a good business coaching salary.

Turning Life Coaching Into Business Coaching (An Intrinsic Way of Creating a Business Coaching Salary)

There is nothing wrong with using an esoteric method in becoming a business coach.  It is a good thing.  However, it will put pressure on you because your clients will expect more from you as a business coach, more so, if you have a constant business coaching salary.

As a business coach, you must understand the concept of BEING.  BEING will build an enlightened POWER.  It is not just a force, but POWER works over and over again.  DOING is just mere DOING.  A business owner needs to know that there is more POWER in BEING.

In order for the client to take the right direction, he must learn how to move under BEING.  But a good business coach must not stop there.  He must teach clients to combine DOING and BEING.  Having these two will give your clients the right weapon to do their business.

To become the best in this arena, one must combine BEING and DOING.  It will give you the edge from other coaches.  Having a good concept in thinking will surely help you compete in the coaching business.  With your expertise, you will be able to enjoy a higher business coaching salary.







By: Jeffrey T. Sooey

About the Author:

“Regardless of company size, the concerns of executive management are all essentially the same.”

- Bryce’s Law

I was recently at a gathering of independent consultants from around the Tampa Bay area and we got around to talking about the concerns of owners of small businesses. From this, we devised a list of pet peeves commanding the attention of small-to-medium sized business owners, to wit:



Employees/Human Resources – staffing and allocations, payroll, benefits, and management.

Work environment – facilities and equipment, corporate culture.

Systems – implementing business processes productively, and staying abreast of technological developments for competitive advantage.

Regulations – complying with rules as established by government and industrial concerns.

Time Management – scheduling and devoting time to the proper set of priorities.

Financial Resources – managing and planning cash flow and investments for optimal return on investment.

General Planning & Strategy – both short term and long term, including an analysis of the market and competition.



At the end of this session, we discovered that the concerns of small business owners are essentially no different than large corporations, except on a much smaller scale. The only difference was that the small business owner has to move faster than his corporate counterparts simply due to the size of his operation. For example, he doesn’t have time to read voluminous business plans and financial statements. Instead, he requires summary reports which get to the point in a couple of pages. He needs good, sound supporting advice to make his life easier.

This got me thinking about the amount of time and money corporate executives invest in managing their company’s affairs. True, some things require considerable time and effort to investigate, such as researching new products/services and checking market conditions, but most of what is done is what I refer to as “meatball” type analysis which should be easy and relatively inexpensive to prepare. Let me give you an example; a couple of years ago I was working with a Fortune 500 company who had contracted with another firm to produce a Business Systems Plan. This took several months to perform and resulted in a substantial document over three feet thick (I kid you not) costing the company $1.5 million. I was asked to flip through the document and give an opinion. It only took me a couple of minutes to discover the authors had reused narrative from other client projects in the document and that most of it was superfluous. But the fact that it was incredibly thick and printed on some pretty impressive looking paper, gave the company the feeling they had gotten their money’s worth from the consultants. Interestingly, the company never acted on the information contained in the document simply because it was so voluminous and they couldn’t find their way through it. In reality, a ten page report could have satisfied the company’s needs, but I guess you cannot charge $1.5 million for a ten page document can you?

The point of all this is that the size of a company really has no bearing on the concerns of those charged with running it. They are all essentially the same. Nor does any business owner have the time or inclination to be devoured by detail. Although detail is important to substantiate claims, summary reports are more effective for supporting the needs of business owners. They simply want accurate and reliable information to act on regardless of the form it takes, but preferably not three feet thick.

If you would like to discuss this further with me, please do not hesitate to send me an e-mail at timb001@phmainstreet.com



By: Tim Bryce

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