Entries by Steve Imke

How to Control Business Risk

Business expenses can be categorized as either fixed expenses or variable expenses. Fixed expenses are expenses that your business must pay regardless of any sales it makes. For example, fixed expenses include the monthly rent you pay on your equipment, building, phone bills, as well as any indirect staff such as a manager or cashier. […]

3 Free Ways to Boost Your Word-of-Mouth Marketing

The availability and speed of at-home internet connection has caused more people to create a side hustle, which in turn has increased competition. This increase in competition is in turn driving down margins while simultaneously driving up the advertising clutter as more and more people clamor for their customer’s attention. Smaller margins translate to tighter […]

Factors that Effect a Business Valuation

There are several factors that can positively and negatively affect a business valuation from the point of view of the buyer. Some common factors that add value to a business valuation include: The organization, including its employees and internal processes Its reputation in the industry How well the business fits with the acquiring business, including […]

Strategic Partnership Principle – The Truth about Competitive Analysis

Manager entrepreneurs use their causal reasoning skills to conduct a competitive analysis to help them define a unique niche for their business. This is demonstrated by the blue ocean strategy postulated by W. Chan Kim and Renée Mauborgne. In contrast, founder entrepreneurs use their effectual reasoning skills to build strategic partnerships with customers. Founder entrepreneurs […]