Cultivate professionals and experts long before starting a business. They can provide encouragement, information, networking referrals, and capital. Kevin Maloney was a youngster, his mother worked in the super computer division of California Institute of Technology, a world-renowned science university in Pasadena, California. Scientists and engineers were always around Kevin’s house. He even washed their [...]
Sheltered workshops and other services to provide jobs and rehabilitation training for the disabled or injured can provide workers and space for small businesses. Dennis Myers is an industrial engineer with expertise in metal working who has jumped back and forth between corporate America and entrepreneurship throughout his career. After Dennis built up a division [...]
Work hard to get favorable contract terms that will protect business cash flow as much as possible. Every contract is a potential cash flow killer at Cougar Turbine Supply LP in Conroe, Texas. The company buys, refurbishes, and resells used Solar turbines and engines at prices ranging from $300,000 to $1 million or more. One [...]
As employees we have all been trained, Pavlov style to work hard and then expect our reward, known as a salary package. The same experience taught you to expect two days off after every five working. Salary thus measures the value of your hard work and thus represents status and recognition level. You learn to [...]