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Ask Entrepreneur - Grow Your Business

Grow Your Business

Will China's "score management" system work in a western country?

Some China business managers apply score marks to different levels of managers and staff as a rewards and punishment scheme for better performance and intiatives. Score marks serve almost like credit...
Grow Your Business

How do I improve my profit margine and cut my expenses?

I have a small, family-owned heating and air conditioning company. I have one secretary and three installers/service techs. An additional estimator/sales/service would be useful in the summer, but bus...
Grow Your Business

How can the owners merge three separate businesses in three different countries?

I work for a company that has branches in three separate countries, as three separate businesses. Each is owned and operated by the same people. The owners would like to merge these three entities to...
Grow Your Business

Is there some central place to find current business plan competitions?

I run a woman-owned business in a rural town in Idaho. I manufacture snowboarding mitts that are made in North Idaho, and all materials come from the U.S. Where can I find business plan competitions t...
Grow Your Business

How do you put a dollar value on 19 years of sweat equity?

I'm referring to a farm owned outright by my husband's mother.
Grow Your Business

How much money will I need to keep monthly cash flow going?

If I bought a business with $581,000 in gross sales, cost of goods of $178,000 and $235,000 in expenses, how much cash would I need to come into the business and keep the cash flow going and maintain...
Grow Your Business

What is a good rule of thumb for budgeting for conferences and seminars?

I am an independent marketing consultant and enjoy attending conferences where I can keep up with trends in my field, network with colleagues, and make new business contacts. Is there a good rule of...
Grow Your Business

How do I determine what percentage of the profit for a product I developed should be mine and how much should be the jobber's?

I was planning to sell my product myself until a jobber asked me to sell 500 pieces to him for his catalog sales.
Grow Your Business

How can I find someone to run my business until I can sell it?

I want out immediately. The business is causing problems in my marriage, and selling could take months. Are there services that will run my business in the interim?
Grow Your Business

How can I monitor outgoing stock for a food-cart business?

I'm about to start my food-cart business in September. I would like to know if there is a system for monitoring the the amount of stock that I use. I'm planning to hire someone, and I want to avoid pi...
Grow Your Business

I am thinking of locating my upscale clothing store in a brand-new strip plaza where the only other business is a barbershop that just opened. Should I choose this location?

It's located on a street with a lot of strip plazas, and a half-mile or a mile away there are cheap clothing stores such as Big Lots, Conway's, Family Dollars and Dots Fashion. The demographics show t...
Grow Your Business

How do we structure future partner agreements (financial and voting) in a new pediatric urgent care center with three founders who are equal partners?

We are three physicians about to open a pediatric urgent care center. This is a startup venture and, as the practice grows (with new locations and additional physicians), how do we reward ourselves fo...
Grow Your Business

When launching a complementary, add-on product or service or distantly related service, should we create a totally separate company or brand, or an in-house division?

Should we create a new brand or stand-alone business, or should we tack it on to the existing business? The way I see it, if we tack it on, the existing customer base may be happy to purchase the addi...
Grow Your Business

My partner doesn't bill or collect from clients; how can I deal with this?

I am the managing partner of the firm. Because I'm half his age, I have difficulty confronting him; when I do get up the nerve, he apologizes and promises never to do it again. I ask him to take care...

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