A nonprofit organization is an organization that uses surplus revenues to achieve its goals rather than distributing them as profits or dividends. Not-for-profit organizations differ from the nature of businesses by the following characteristics: Their revenues come from contributions. Their operating purpose doesn’t include profit, although there’s nothing to preclude the generation of a profit. […]
In the course of perusing the “fiscal cliff” rhetoric dominating the political world recently, I came across a story about deliberations over the Times magazine “Person of the Year.” While meditating on the issues surrounding the fiscal cliff, it occurred to me the perfect nominee for the Times cover is Julia — the haplessly dependent […]
Most entrepreneurs start a business because they have a great idea for a product or service and think they can make money selling it. Entrepreneurs take on considerable risk in launching ventures and then pushing businesses forward until they either take off or run out of money. But all too often, entrepreneurs are dreamers far […]
For many, football season means bundling up, tailgate parties and gathering around the TV with friends and family for exciting action. It’s also a good time to pencil out some goals and a game plan for retirement. Here’s a five-step playbook to consider in planning for retirement: Protect the quarterback: The most important player on […]
As we headed into the most recent election cycle, I engaged in many discussions with folks on both sides of the issues. The single largest issue for many in this election was — and still is — job creation. The questions are: How are jobs created? How are those jobs sustainable? The two options from […]
Your business is only as strong as the individuals within it. Operational success is greatly enhanced when team members are taught and continually encouraged to use the power of their own minds rather than becoming dependent upon you — or others — for answers. There’s a tendency among business owners and managers to simply give […]
The holiday shopping season is here. According to the results of a holiday consumer spending survey conducted by the National Retail Federation, holiday sales are expected to increase 4.1 percent this year. Now’s the time for small business owners to take advantage of the holiday rush. Whether it’s financing seasonal working capital needs, updating marketing […]
We’ve received valuable feedback from entrepreneurs who rely on the U.S. Small Business Administration website to educate themselves about small business ownership and listened to what they said. We acknowledged that the user experience to access online resources must be easy, efficient and engaging. I’m pleased to announce the SBA is launching a new online learning […]
The election has come and gone. President Barack Obama has been re-elected and, as a nation, we face challenging decisions in reducing the deficit while still investing in our shared future. For the leadership of any company, the basic principles that allow all companies to thrive remain the same. Austerity measures will be put in […]
Retirees can start taking Social Security benefits at any time between the ages of 62 and 70. While many people start taking benefits as soon as possible, today’s low interest rate environment has changed the calculus enough that for many folks, that’s the wrong decision. It almost takes a doctoral degree in economics to calculate […]