She calculated that, when taking all paperwork into account, she spent roughly an hour on each transaction no matter how large or small. Are your people as efficient as they should be? Intellectual capital is proprietary information and in-house knowledge of technologies, materials, processes, and markets useful to an organization. Leaders have the courage to change themselves first when things aren't on target.

Here's what no-one tells you about Finance

Thousands fail in business every year when an idea put into practical operation would have tided them over the trouble and opened the road to a competence. Everyone likes to poke fun at the government (hey, what are governments for, anyway?). To expand and grow, you have to market and sell, get referrals, present winning proposals, offer unique products, and then provide great customer service. A short-term loan may be for 90 days and used to finance receivables so you can get a big order out the door.

Can Research and Development Make a Difference to your Bottom Line?

Imagine that it s five years from now. A manager often lacks such specific knowledge but has generalized understandings of personnel, training, motivation techniques, evaluation, product distribution, compensation, and budgeting. The Small Business Administration (SBA) is devoted to helping small-business people get started and run successful businesses. But there s no reason that only serial entrepreneurs should get the benefit of regular business-planning sessions.

Seek referrals from other business managers

If you re starting a fine restaurant, for example, and your chef graduated at the top of her class from the Culinary Institute of America, play that front and center. This amazing talent pool is at your disposal. Where do you want to be? This is extremely important, because you don t want to gain numerous unhappy customers who could become anti-ambassadors for your brand.

A lazy person's guide to Sourcing

Is it beneath your social station to handle butter and eggs? They are doubtful about the character or standing of some man with whom they are or may become heavily involved. This will show you care and get them to call, refer, or buy from you when the need arises. Likewise, you ll want to explain the key, appropriate positions of your team members.

How will you staff the business?

Stay flexible and silent about what you believe the venture is worth until you are in serious negotiation. Even if you don t learn anything new, getting a firm handle on your goals and objectives is a big help in deciding how you ll plan your business. Increasingly, companies large and small have been trying to trim the number of suppliers and customers they deal with and develop deeper and stronger relationships with the ones they keep. It s tempting to noodle around with the numbers until you come up with the desired result.