Business Management

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Turning Your Passion into Profitable Self-Employment

Almost everyone is passionate about something. This might be gardening, photography, cars, kids, computers or a number of other things. What matters is that it is something that you enjoy, are good at and it provides value to others in some way. When these elements exist, your passion can becomeRead More

Ask Dr. Deborah | How can I improve inventory management?

Dear Dr. Deborah, I recently started my own jewelry business. Lately I’ve been having issues with inventory. At first my inventory needs were small, but now that I have more pieces and more customers I’m having trouble managing it. Several times now, to get the materials I need in time,Read More

Why Teamwork Matters Even in Self-Employment

Self-employment, by definition means working for yourself, so most think teamwork doesn’t matter. However, the concepts of teamwork can actually be very important even in a self-employed business. Just because you work for yourself does not mean that you work alone. You have customers, partners, investors, and many more stakeholdersRead More

6 Back to Work Essentials for Small Businesses

Labor Day is past and summer is officially over. Now, it’s time for everyone to get back to work. Whether you are just starting up or looking to grow, make sure you have these essentials on hand as you get back to work to help your small business run moreRead More

5 Ways to Reduce Stress as a Business Owner

There can be a lot of stress in owning and running your own business. When you are self-employed, you are in charge of managing finances, customer relations, marketing, overall administration, and all other aspects of the business. It’s a lot of responsibility for one person, and if poorly managed, theRead More

Why You Need Coffee Breaks

The idea of the coffee break has been around for many years. It can have many different forms – cigarette breaks, water breaks, etc. – but the idea is that you take a brief amount of time to step back from what you are doing. While some may view thisRead More

Why You Should Be Nurturing Supplier Relationships

You may not realize it, but your supplier relationships can be a critical part of your business strategy. Most businesses have at least one supplier they commonly order goods from. These purchases typically represent the major area of spending, especially for those who sell physical products. A strong relationship withRead More

5 Steps to Better Inventory Management

Inventory management is a challenge for any small business owner selling a product, especially as inventory typically represents 45%-90% of all expenses. Ultimately, it comes down to one question: How much do I order and when? Order too little, too late and you don’t have enough supplies to meet demand.Read More

Essential Tools for Starting a Self-Employment Business

Whenever you start a new project, there are certain essential tools that you need to bring together in order for things to run smoothly. Creating a self-employment venture is no exception to this rule. Just as you wouldn’t start a construction job without hammers, nails, and measuring tape, there areRead More

How Government Contracting Creates Value for Small Businesses

Believe it or not, government contracting is not just for big corporations. There is opportunity and value in government contracting for small businesses as well! In 2014, the federal government spent over $400 billion in federal contracting, 22% of which was awarded to small businesses. These contracts cover everything fromRead More