Management

 

Wharton Picks a Winning Business Plan

Eight finalists competed in the University of Pennsylvania’s fourth annual Wharton Business Plan Competition last week. They presented their plans to a six-judge panel, hoping to win the $20,000 Grand Prize. Second place received $10,000 and third earned $5,000. Each of the three top teams…

 

 

Going to the Customer

Here’s an interesting little trend: small businesses located in American suburbia are “going to the customer.” Instead of expecting customers to come to them, small businesses are bringing services to customers where those customers work. Small consumer-oriented businesses have…

More on Health Insurance

Last week I wrote about the difficulty of very small U.S. businesses (2 to 5 employees) getting health insurance. Well, now, Medpundit offers additional insights in a longer article over at Tech Central Station. According to U.S. Census figures, 15.2% of the U.S. population lacks health…

CPAs and Offshore Outsourcing

There’s lots of buzz in accounting circles these days about outsourcing the preparation of tax returns to places like India. And now the AICPA, a professional association for CPAs in the United States, has issued an Advisory opinion which clears the way for CPAs to outsource. The Advisory…

Are You Working Your Networks?

From unknown author to overnight bestseller — all due to the power of networks. How else to explain why certain ideas, messages and products spread? Social networks are a source of power in business. Author Malcolm Gladwell, in his book The Tipping Point: How Little Things Can Make a Big…

Never Sacrifice The Gross Profit Margin — Ever

Do you know what your gross profit margin is? If you don’t, spend a few minutes on this post because it will be worth your while. Inc.com has a great interactive tool for any business — no matter what size. It’s an online calculator, and it helps a business executive determine…

Arbitrary Law Enforcement Hampers Small Business

Small business in many parts of the world is hampered by corrupt legal officials or laws that are arbitrarily imposed. The recent arrest of Russian business tycoon Mikhail Khodorkovsky is a high profile example of what small businesses face daily in countries where the law is for sale. Small…

Insurance Costs Biggest Problem for Small Business

Rising insurance costs are at the top of the problem list for small business owners. That’s according to the most recent (September 2003) Economic Report of the National Federation of Independent Business. Cost and availability of insurance is the single most important business problem of…

National Small Business Week Nominees

President Bush has designated the week of May 12, 2004 as National Small Business Week. In conjunction with that event, the Small Business Administration is taking nominations for Small Business Person of the Year. The SBA will present awards to deserving entrepreneurs at the district, state and…

Arbitration Clauses

A growing trend is to add “arbitration clauses” to contracts. These clauses state that you give up the right to sue in court if there is a dispute. Instead, you have to go to binding arbitration. Arbitration means that instead of going before a judge and/or jury, your dispute will…

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