Category: General Business Principles
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Promotional Discretion, Appropriate Considerations When Selling a Product
Well, we had our baby girl over the weekend and she is beautiful. I would love to go on and on about the new addition to our family but that is outside the scope of the site and probably wouldn’t be that interesting to anyone who doesn’t know us. Instead, I will expound on the…
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Business Model Generation Template
The formula for success is a question that has long plagued entrepreneurs, but a helpful tool now exists that will assist in identifying the primary metrics of any business. The business model generation template comes from the minds of 470 contributors and was compiled in the book Business Model Generation: A Handbook for Visionaries, Game…
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Why is Time Management Important?
Time is the only one true fixed resource. Having a finite amount of time to complete any task makes time management an integral part of an organization. Entrepreneurs often have difficulty balancing their planning and organizing while simultaneously entertaining potential customers. What most don’t realize is that the time they have is very limited, and…
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How To Make Money On Craigslist Location Arbitrage: $60 Dollars in 1800 Seconds
I am living proof that $60.00 can be made in as little as 1800 seconds on Craigslist. 1800 seconds is 30 minutes, but 1800 seconds sounds more impressive to me. Location Arbitrage My wife and I were shopping for a rug at a well-known department store. The strange thing was that the rug was half…
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Drum Buffer Rope (DBR)
The Drum Buffer Rope (DBR) approach is a management tool used in the Theory of Constraints and follows the five focusing steps when assessing a physical process. With a physical process there exists and input, an output, and interrelations between work cells or departments. DBR provides a means to manage the throughput in pursuit of…
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The Thinking Process
The TOC Thinking Process is an interactive, logic-based approach to problem solving that can be applied to the most complex of systems. We as people often don’t think through issues to the extent that we should. The Thinking Process brings to light the assumptions we make in our thinking habits, and illustrates the ramifications of…
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Conflict Clouds – Evaporating Clouds
Conflict Clouds, also known as Evaporating Clouds, are a conflict resolution tool used in the theory of constraints (TOC) to maintain the logical integrity of two mutually exclusive events and their existence for a common goal. The premise of a conflict cloud is that conflicts exist because two events that cannot exist at the same…
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Five Focusing Steps
As an individual you are your first business, and as your first business you must realize that continued adjustment and change is part of succeeding. Problems will always arise do to the change around you and your ability to accommodate the changes required can be made easier with a few simple steps. One of the…
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Where to Invest Into Your Small Business
Investing into your business is essential if you want it to grow. Your company is a living organism and it must be fed, the question is how to feed it. In “Growth Strategy, When to Step Up Capacity” we addressed when to step up capacity, here we address where the focus should be. Throwing money…
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Three Basics of Small Businesses
Small businesses have a very dynamic existence for many reasons and as such it doesn’t take much for one to fail. That said I want to touch on a few basics that can help minimize the chance of failure and hopefully lead to further success. The following list is not exhaustive but it does touch…