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Management

Successfully Manage a Startup Successfully managing a start-up or a young business requires an entrepreneur to wear many hats. The roles are many and the challenges are great. Usually long hours are required of entrepreneurs during start-up and growth phases of businesses in order to insure their success. One of the biggest pitfalls for an … Continued

Pricing Products & Services

Pricing Products When pricing products, you must set the price at a point that will both contribute to profits and compel customers to purchase. You also need to cover the direct costs of the product and your operating costs. The price a business establishes for its products is affected by several factors: Amount customers will … Continued

Selling to the Government

Federal, State and Local Governments offer small businesses a great business opportunities. Whether in manufacturing, construction, services, technology or R&D, the Government purchases everything from furniture to tanks – from tree planting to socks. Each level of Government follows their particular process to purchase. Businesses should become familiar with the procedures used by a particular … Continued

International Markets

Import and Export Assistance To begin the planning process of how to export your product, consider the resources available at the World Trade Center Association a membership organization that shares the experiences and best practices of international trade. The US Department of Commerce  and the Wisconsin Department of Commerce have a wide range of resources … Continued

Bootstrapping

Bootstrap Funding Bootstrapping is a term which describes starting a business using your own financial and personal resources along with sales to sustain and grow your business versus using the financial resources of external investors. The art of building a business with little or no money is by far the most common way Americans build … Continued

Financing – Glossary of Terms

Accounts Payable: A list of a firm’s current business debts or liabilities that must be paid in the future (usually within 1 year.) Accounts Receivable: A list of the amounts a firm is owed by others for merchandise or services sold, representing current assets. Amortization: Liquidation on an installment basis; the process of gradually paying … Continued

Prototypes

Securing a Professionally Developed Prototype If you are considering developing a prototype of your new product idea, the value of having a professionally prepared prototype can not be over-emphasized. If you don’t have a patent, a prototype is valuable to demonstrate your innovation to a patent attorney or investor. If you do have a patent, … Continued

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