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Leadership/Innovation

For a forward-thinking mindset

The Right Way to Present Your Business Case

Your business case is the stuff of legends, something to be put in the Smithsonian. But first, you have to actually present it. Carolyn O’Hara writes for Harvard Business Review with tips for presenting your genius to decision-makers. What you really want to do if at all possible is to pitch your business case using a story. Stories stay with people and touch their hearts. And especially since changes often elicit fear, it is important …

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Meeting the IT Profitability Objective

Cutting costs only takes a business so far, especially as it pertains to IT. When faced with constricted budgets, Steve Heilenman, CIO of Computer Aid, Inc. (CAI), believes we should take this as an opportunity to “reposition technology to assume new roles in meeting the objectives of the business.” In an article for CIOReview, he shares the methods he uses to make IT a critical business enabler. Building Self-Sufficient IT To better support CAI, which …

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Budget Your Business like a Pro

Dani Fankhauser shares a few quick business budgeting tips in an article for Mashable to hit the ground running. For starters, explore all of the budgeting software options available to you. There are different types to cater to different scales of business, in addition to kinds that address specific niches. Further outsource or hire outside help as necessary. Alternatively, for more general financial questions, you can just ask around using a site like Quora. Fankhauser’s …

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5 Simple Tips to Keep Small-Business Finances in Order

Money is great if you know how to use it and hold on to it. In an article for Forbes, Kirk Simpson provides five tips drawn from his experiences in starting three businesses. His first tip is to always keep personal and business finances separate to save yourself headaches reconciling discrepancies later. The cleaner the records you keep, the less expensive it will be to have an accountant—and you very likely will want an accountant …

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5 Finance Tips All Business Owners Should Follow

Eric Siu writes for Entrepreneur with five tips to handle finance in your business even if money is not your forte. The first tip is that neatly categorizing expenses, employee payments, invoices, etc. from the outset will simplify troubles and reduce the likelihood that you will procrastinate on managing all of it. Next up, budget for “seasonal cash flow,” in that some products and services are more in demand at certain times of year. Do …

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A Primer on Building a Business Budget

A guide at Inc. discusses the basic ins and outs of setting a budget for your business. A budget tells you how much money you have available to spend in order to hit your goals. It encompasses revenues, costs, and of course profits for a given time period. Always favor caution with your estimates, but try to be especially realistic with revenues, the business’s lifeblood. As for costs, there are three kinds: fixed costs, which …

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Six Steps to a Better Business Budget

When you spend without having a budget in place, you are basically driving blind and hoping for the best. Glenn Curtis writes for Investopedia with steps to put a business budget together. Begin by using libraries, the IRS website, and conversations with other business owners to get a grip on average costs within your industry. Build a spreadsheet that calculates what percentage of revenue will be needed to cover various costs—raw materials, rent, taxes, etc. …

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6 Smart Budgeting Tips for Running a Business

Are you quietly contemplating starting a business? Nicole Fallon Taylor has six tips at Business News Daily to get you started on budgeting. The first is to define and understand your risks, ranging from healthcare requirements to potential for natural disasters. Second, overestimate your expenses, because things seldom go exactly according to plan. Nevertheless, there does need to be a plan. Scrutinize your sales cycles, budget for lulls, and use the added time during slow …

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How to Spot or Grow the Next Big Startup without Getting Burned

So you’ve finally got that personal loan application approved that will allow you to establish or invest in the next big startup. Should you be a founder or an investor? There are so many startups that keep sprouting everywhere, and each one sounds better than the last. We’ve seen a lot of startups that have grown bigger and more profitable over the years, and ordinary people becoming millionaires at a young age. Unfortunately, not all …

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4 Tech Stereotypes to Get Rid Of

In an article for Computerworld, John Brandon pinpoints four antiquated types of people stereotypically imagined to exist in the IT industry. The first of course is that of the geeky guy wearing his glasses who is only interested in building computers. The second is the snarky know-it-all tech support, in conjunction with clueless users who refuse to educate themselves on the simplest technical practices. Third is the dumb executive who relies on the brilliance of …

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