Why Optimists Make More Money Than Pessimists

June 18, 2018

By Gerri Detweiler –

OptimistWhat qualities come to mind when you think of those who build great amounts of wealth? Disciplined, hard-working, smart — perhaps even a bit ruthless?

You may be surprised to learn that there is another trait that may help you build wealth: optimism. Tom Corley devoted several years to studying the habits of the rich versus the poor, which he has shared in his best-selling book, Rich Habits: The Daily Habits of Successful Individuals. Among the many habits he studied, he found the rich were more likely to be optimistic.

“Sixty-seven percent of the self-made millionaires in my study forged the habit of being positive and upbeat. A positive, mental outlook is critical to overcoming problems, obstacles, pitfalls, mistakes and failures,” he says. “Staying positive is a critical component to becoming wealthy. Positivity is like a radar in search of solutions to problems. Thus, positive thinkers are able to see solutions, where negative people see only problems,” he adds.  (more…)

7 Time Management Tips for New Business Owners

May 22, 2018

By Jennifer Lobb –

Time ManagementRunning a business is time-consuming work, and as a new business owner, time is exceedingly hard to come by. Though you may not be able to add an extra hour (or minute, for that matter) to your day, there are ways you can capitalize on, and make the most of, the time you do have. By following the seven tips below, you’ll be able to take charge of your day and manage your time in a way that improves both your productivity and state of mind.

1. List & Define Your Tasks & Goals

When thinking about time and how to better manage it, there are two dominating categories of obligations and to-dos and your list: operational tasks and business goals. Tasks are those mundane-yet-import requirements that happen daily, weekly or monthly, without fail.

Emails, meetings, bills, inventory, etc. all account for the tasks that must be completed to keep a business up and running. On the other hand, things like new projects, sales incentives, marketing initiatives, hiring and expansion activities, etc. all represent goals that are important to business success and growth.  (more…)

Entrepreneurs Shine During National Small Business Week

April 30, 2018

By Linda McMahon, SBA Administrator –

Linda McMahon - SBANational Small Business Week shines a spotlight on our nation’s 30 million small businesses. Through awards ceremonies, media interviews and community events, we honor entrepreneurs whose achievements stand out. As an entrepreneur myself, I know the hard work that goes into starting and building a small business – efforts that don’t often get the attention they deserve.

Honorees in this week’s spotlight do not cast a shadow that dims the efforts of others; rather they serve as a beacon – to competitors, up-and-comers and communities as a whole. They show what is possible. They are innovators and problem solvers, creating products and services that are better, smarter or more efficient than what came before. They are risk takers. And through their success, they inspire others to dream and to create small businesses of their own.

Small businesses contribute so much to our communities and economy. They create two out of every three net new jobs in the private sector. More than half of all Americans either work for or own a small business. Entrepreneurs are not only making a living for themselves, they are making their neighborhoods vibrant places to live and work and contributing to our nation’s economic strength.  (more…)

The Ultimate Guide to Vetting a Business Partner

April 23, 2018

By Gerri Detweiler –

Business PartnerAfter surviving several tumultuous business partnerships, Susan Nilon has learned to be more skeptical and cautious. In the past, she admits she was so excited about business possibilities that she “didn’t pay attention to red flags.”

She and her current business partner in a legal research firm, De Novo Law Services, not only have a formal partnership agreement, they’ve taken it one step further. She created an addendum to the agreement “writing out 10 steps on how to survive our partnership,” she says. This document spells out the things that are not normally called out in a contract, like how to handle disputes and what to do when the other partner is not pulling their weight.

Business partnerships can bring together individuals whose complementary skills and experience can help the venture succeed. And sometimes a partner can contribute valuable resources — including money — to help fund the business. But these arrangements can also result in headaches or heartache.  (more…)

7 New Year Resolutions You Can Make for Your Business

January 8, 2018

2018 New Year's Resolutions

A new year is upon us, and for many of us that means taking inventory of our lives, deciding where we can improve and making resolutions to guide us through our journey to improvement.

While we typically think of resolutions as personal promises, the sentiment can and should extend to professional organizations. By making company-wide resolutions, small business owners, managers or individuals in other leadership roles can promote growth, increase the bottom line and improve company morale.

Not sure what types of resolutions you should make? Here are seven that will be important for a strong 2018.  (more…)