Power lunches are an important part of most executives' weekly schedule. But if you've never arranged a business lunch before, it can be a little intimidating. Here are some easy tips which will help you plan a successful business lunch, and hopefully pave the way to a successful transaction.
Whether you're hoping to generate extra income in addition to a regular job to help make ends meet, or you want to fulfill some entrepreneurial goals, starting your own home business can help you meet those goals. But home businesses can also offer many challenges. Follow these 18 tips from successful home business owners to help increase your chances of reaching profitability without spending every waking moment and every last dollar to get there.
Many people are choosing to start their own businesses these days. Whether they are people who don't want to spend most of their waking hours commuting to and from work, parents of young children who want a more flexible work environment, or retirees who have decided to get back into the mainstream, there are plenty of opportunities for those folks who are considering starting up a home-based business.
If you've ever thought about starting your own home business, there's no time like the present. But what sort of business should it be? How do you get started? How do you find potential customers? Let's go over the essential steps you should follow in order to answer those questions and help you in your decision-making process.
Almost everyone has skills, knowledge, experience and assets that could be channeled into a marketable home-based business. For instance, if you own a truck or have access to a trailer, you could start a junk hauling or recycling pick-up service. An accountant with space for an office has all the tools they need for a successful home business. There are many types of businesses that can be run from your home. Just to name a few:
Do you know who your target customers are? How large is the potential market within your geographical area? You will need to answer those questions before you invest a lot of time and money into the venture. Find out how many people in your area would be interested in your proposed product or service. Talk to the people in your neighborhood, take several informal surveys over a period of one to three months to determine what percentage of your area would be willing to pay for your product or service. Make the survey simple - just a few key questions. For example:
A business plan is an essential component of the process. It gives you a means to clarify what your business proposition is and how you plan to grow your business, set out your mission statement and goals, and convince potential lenders and investors why they should have confidence in its potential. It is a vital tool for obtaining financing, especially if you require a start-up loan for equipment and supplies.
Your business plan should include:
Too often, enthusiastic and ambitious entrepreneurs jump into an extra income project and suddenly find that the costs are too high, and the time requirements more than they can meet. It pays to lay it all out on paper before you get involved. The clearer the vision you have of the project before you start, the better your chances for success.
Regardless of what type of business you start, you should have enough capital available to sustain the business through the first six months of operation. Do not count on receiving or spending any business income for yourself or your bills during that start-up phase. All revenues obtained in the first 6 months should be reinvested into the business in order to reach your planned Year 1 projections. After that initial 6-month period you can set up a small monthly salary for yourself.
Don't expect instant success. "If you build it, they will come" only happens in the movies.
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Joint ventures are much more common in today's business world as companies strive to gain access to new world markets and improve their profit margins in the face of increasing costs and the need to comply with rapidly changing laws and regulations.
Joint ventures, also referred to as "business alliances", "strategic alliances" or "corporate partnering", offer an attractive alternative to the traditional method of doing business, and there are numerous advantages to co-venturing. For instance:
A joint venture is basically a short-term partnering arrangement in which the parties involved jointly undertake a project for mutual profit. Similar to a partnership, a joint venture can involve any type of business transaction or project, and the parties may be individuals, companies or other types of entities or organizations.
The co-venturers share the costs and the risks, as well as any gains and benefits, and each of them contribute money, property, effort and/or know-how to the joint venture. The participants in a joint venture each retain ownership of their individual property, which is returned to them at the conclusion of the venture.
The parties may decide to enter into a contractual arrangement to cooperate with each other (a contractual joint venture), or they may decide that it's more advantageous to incorporate a separate company to carry out the project (an incorporated joint venture). The life span of a joint venture is typically the life of the project for which it was created, although the co-venturers may determine that the joint venture should carry on for an additional period of time, as required by the nature of the business / project.
The laws governing joint ventures differ from country to country. For example, in the U.S. joint ventures are governed by state partnership and commercial transactions laws. In Canada, there are no specific laws governing joint ventures, and the joint ventures are governed by the written contract between the parties. Therefore having a written Joint Venture Agreement is of paramount importance. If the joint venture is incorporated, with the co-venturers as shareholders, the legal status of the venture is governed by the law governing corporations in the jurisdiction in which it was incorporated. It is important to note there have been court decisions where shareholders in a corporate joint venture have been deemed partners.
Like any other business opportunity, joint ventures have their own inherent risks. This is particularly true when you're expanding into a new market or into another part of the world. Before you decide to venture into a foreign market be sure that everyone on your team is well aware of the local laws and the cultural differences, customs, holidays, and social taboos. Be clear on what the purpose of the joint venture is and how your business would contribute to and benefit from the venture. What would be required of you, and what would your expectations be? What contributions would you be expected to make in terms of money, property, resources, and expertise?
Foreign joint ventures are subject to international trade laws and to local laws governing commercial transactions, labour, and consumer rights. Tax laws also differ from country to country, and you should be fully aware of what these laws are in the countries you're moving into. It's also critical to know whether there are restrictions on the amount of investment or capital distribution that foreign entities are allowed to make. Can you freely move money into and out of the business, or are there limits imposed by law? Many problems can be avoided if everyone involved is very clear on the joint venture's goals and objectives and has a good understanding of how those goals are to be accomplished. A well-researched business plan for the venture must be developed with a full analysis of the aims and objectives. Everyone involved should be well acquainted with the business plan and how it will be implemented. All of the participants must also agree on how the venture will be managed and what each party's role will be in that regard. These points should be clearly spelled out in the Joint Venture Agreement.
Choosing the right partner in a joint venture is essential to your success. You want a partner that can supply resources, property, assets, and/or know-how that complement your business. As with any other business relationship, you will want to check out all potential partners before deciding to embark on a joint venture. Do thorough due diligence, and be sure to search online as well - on the principals as well as the company (if applicable). A Google search can bring up a wealth of information, comments, feedback, personal experiences - favourable and unfavourable - that can help you form a fairly accurate overall picture of the other partners.
Once you have prepared a draft of your agreement, review it with your co-venturer(s) and legal counsel prior to signing it. At a minimum the joint venture agreement should include the following:
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If your business hires outside consultants, it's worth your while to learn how a consulting contract is structured. And if you're a consultant yourself, you'll want to know how to prepare your own agreements with clients to cut down on your legal fees.
While people often assume you need to have an attorney draw up your contracts, if you acquaint yourself with the various provisions that are included as standard elements in a consulting agreement, you should be able to confidently draft your own contracts.
The terms of the contract should be discussed and agreed to verbally first, before putting it in writing. It might be a good idea to prepare a Letter of Intent first, to make sure that both parties are on the same page before you enter into a formal written agreement.
1. The Preamble. On the first page you will set out the full legal names and a brief description of each party, and a summary of the parties' intents and the purpose of the contract.
2. Services to be Provided or Excluded. Fully describe the scope of the services that the consultant will provide, either in the main body of the contract or in an attached schedule. If certain services are specifically not included, these exceptions should be clearly set out. All deliverables, completion dates and deadlines should be listed.
3. Employees and Contractors. If more than one person will be providing consulting services, identify them and how they are related, i.e. which ones are employees and which ones are independent contractors retained by the consultant to assist with the project. It may be helpful to include an organizational chart with each person's name, position and job description, and the reporting hierarchy. Each of these persons should agree in writing to be bound by the terms of the Consulting Contract.
4. Qualifications. The consultant's qualifications should be described, or if the parties prefer, the consultant can make representations to the effect that he/she is fully qualified to provide the services.
5. Term and Renewal. Is the contract ongoing and open-ended? Will it renew automatically or will the parties negotiate a new contract before the old one expires? Is it a project-specific contract that will end when the project is completed? Is it a one-year arrangement? Define what the term of the agreement will be. If it is project-specific, clarify the circumstances that define completion of the project.
6. Contract Price. The contract price should be clearly set out. You also need to be very clear about:
7. Invoices. If an invoice is required to initiate the payment cycle, it's advisable to include a description of the invoice format or attach a sample invoice as a schedule.
8. Approval Process. Describe the procedure for approval and acceptance of each phase or deliverable, as well as the procedure for revisions if any are required.
9. Contract Extras. Describe how changes or additional services can be requested by the customer, the additional amount that must be paid for those extras, and when and how it must be paid.
10. Currency. Be clear on what currency is the basis for the amounts quoted by including a paragraph like this one: "All amounts required to be paid under or in connection with this Agreement shall be paid in lawful money of ___________ (name of country)."
11. Expenses. Detail which expenses will be paid by the customer, what proof is required for reimbursement by the customer (e.g., receipts), any maximum limit on expenses, and which expenses or amounts require the customer's prior approval. Clarify whether expenses will be included as line items on the regular invoices or if they will be billed separately.
12. Reporting. What kind of reports will the consultant be required to deliver, how often and in what form? This should all be clearly established in the contract.
13. Ownership. Be very clear about who will own the work product, including any intellectual property rights included in that work product. If the contract is made on a work-for-hire basis, the customer should be the owner of the work product and IP rights.
14. Insurance. Will the consultant be required to carry E&O / professional liability insurance during the term of the agreement? Make sure the insurance provision establishes the amount and type of coverage to be maintained.
15. Termination. This section should set out:
16. Dispute Resolution. Include a provision to deal with how disputes arising out of the agreement will be handled, such as having the parties agree to submitting disputes to binding arbitration or a third party mediator. It should also include the legal remedies available to each party.
17. Governing Law. Clarify the jurisdiction which governs the agreement (eg. "This Agreement shall be governed in all respects by the laws of _________________.").
18. Notices. Provide an address for each party for service of notices and other communications. If copies are to be provided to attorneys, accountants or other advisors, include an address for each of these persons as well.
19. Confidentiality. Include confidentiality provisions in the consulting contract or, alternatively, have the consultant sign a separate Confidentiality Agreement, make reference to it in the contract and attach a copy as a schedule. The confidentiality provisions should survive the expiration or termination of the contract. Clarify what the legal consequences will be for disclosing any confidential information without consent.
20. Non-Competition. Consider whether to include a non-competition clause (also called a "non-compete"), which restricts or limits the consultant's ability to perform similar services for a client's competitors (or its customers) during the term of the contract.
21. Entire Agreement. Make sure that all items agreed to verbally are set out in writing in the agreement. And include a standard clause that says the agreement supersedes any other verbal or written agreements between the parties and that no modifications or amendments are binding unless they are in writing and signed by both parties.
22. Limitation of Liability. Limit your liability to the extent legally possible. You cannot completely eliminate or avoid liability, but you may be able to limit the amount an unsatisfied client can claim to a reasonable amount, such as the amount that the client has paid under the contract plus attorneys' fees. The contract should specifically prevent recovery for consequential damages. Include your employees and subcontractors under the limitation of liability clause to reduce their exposure as well.
Both parties should review the contract with a legal advisor and ask for explanations of any clauses that are not completely clear. Whether you're the client or the consultant, you should not sign anything unless you fully understand what you're signing.
If the contract is for a lengthy project, don't agree to wait until the end of the contract term to get paid. Split the payments up over the duration of the contract.
If a non-competition provision is included, you must ensure that it does not unfairly restrict the consultant's ability to earn a living in his/her field of expertise. This can result in the provisions being struck down in the courts. For instance, in California courts non-competition provisions are very likely to be deemed invalid. And in most other jurisdictions the more restrictive the provision is, the more likely a court will strike it.
The ownership provision should be worded so that it does not give the client title to ALL work performed by the consultant during the term of the contract. This could be interpreted by a court as giving the client title to work performed for other clients. You should get legal advice on this subject to ensure that (i) your rights are protected and (ii) other parties' rights are not infringed upon.
You should be wary of provisions that unreasonably restrict the consultant from assigning their interest in the contract or from subcontracting any of the work. Renegotiate this with the customer before finalizing to allow for assignment with consent, which should not be unreasonably withheld.
Almost any contract - even a "standard" form contract - is negotiable. If you're signing someone else's standard contract and any condition or provision of that contract makes you nervous or uncomfortable, it's your responsibility to bring it up. Don't sign anything until you're satisfied with it. Review it with your lawyer, who can then assist you in negotiating a more favorable arrangement.
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As a small business owner, you know how important it is to have enough funds on hand to keep your business running. These available funds are known as working capital, and they are needed to run a healthy business.
Inadequate working capital levels are cited by the SBA Small Business Administration as one of the top reasons for small business failure. As such, learning about and securing proper levels for your company is crucial.
Simply put, working capital is the difference between your current assets and current liabilities. Current assets are those that can be converted to cash within a year, while current liabilities are debts and obligations due within a year. Without enough working capital, you may not be able to pay creditors or meet your operating needs. But how do you know how much you have, and how much you need?
To determine how much working capital your business has, you can use this calculator. It calculates working capital by using four inputs – annual growth, current target ratio, total assets, and total liabilities. Annual growth refers to your expected annual growth for the next year, while the current target ratio is current assets divided by current liabilities. For most businesses, a ratio of around 2.0 is optimal.
There are a number of factors that influence how much working capital a business needs. For instance, seasonal businesses need more working capital to keep them afloat in the off-season and to meet the higher expenses that often occur during preparation for the peak season. When deciding how much working capital your business needs, consider your industry, growth rate, and fixed costs.
So, now you know how much working capital you have, and how much you need. But where do you get it? Small businesses often need additional working capital to get through difficult periods. A working capital loan can help fill temporary funding holes and keep your business up and running. Working capital loans are designed specifically for small business owners who need short-term capital. These loans are often available through online lenders, and offer real advantages over traditional bank loans.
Working capital loans are generally easier to get approved, faster to get funded and more convenient to use, providing fast capital when you need it. Repayment periods tend to be shorter, months rather than years, as the loan is intended to get the business through a short-term cash flow problem.
When you apply for a working capital loan, lenders will consider several factors to determine if you qualify. Some banks will ask for your financial statements and a balance sheet, then they will check your business and personal credit scores, the length of time your company has been in business, and annual revenue.
Alternative lenders will not wholly rely on your credit reports instead they will review your actual business metrics and transactions in your accounts such as; bank, accounting software and credit card payment processors. You'll need to provide financial statements and a balance sheet.
Lenders vary in what businesses they prefer to lend to. Some will provide loans to businesses with credit scores below 500, as long as they are generating sufficient revenue or have been in business at least a year, while others require higher credit scores, greater revenue, and more years in operation.
Now that you know how much working capital you have, you can think about the best way to use it to benefit your business. In addition to fixed costs, you can use working capital to build and improve your business. These monies can be used to pay for expensive equipment that often requires large upfront payments.
You can also fund your businesses expansion with new or remodeled office space, a second location, and other improvements are common. Also, you can expand your staff, hiring new staff and paying for their training. Every industry has its own best uses of working capital. Hair salons often invest in advertising campaigns while auto repair shops buy car accessories to sell and install in customer's vehicles.
Finally, working capital can provide a sense of security. With a generous cushion, you are prepared for any setback or unforeseen circumstance that may arise – which affect all small businesses. With sufficient capital on hand, you can rest easy, knowing that your business expenses can be met.
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Marsha Kelly sold her first business for more than a million dollars. She has shared hard-won experiences as a successful serial entrepreneur on her Best4Businesses blog, where she also regularly posts business tips, ideas, and suggestions as well as product reviews for business readers. As a serial entrepreneur who has done “time” in corporate America, Marsha has learned what products and services work well in business today. You can learn from her experiences to build your business.
Whether you have a great new startup idea or a long-running business, you’ve probably come to one inevitable fork in the road: financing.
It’s the extra capital you need to take your company to the next level, be it for funding resources, creating a new marketing budget, or securing a deal with an overseas manufacturer. Entrepreneurs in Connecticut know full well the challenges faced as its highly-competitive markets cater to some of the wealthiest income brackets in the country.
Small business owners face particularly unique challenges when it comes to financing—and trust me, I know all about these. I’m a serial entrepreneur who’s been through the wringer having started one of my companies from scratch, growing it, and eventually selling for $1,000,000.
One key financing lesson I’ve learned is that there are many options for entrepreneurs to choose from, each with their own advantages and disadvantages.
So let’s go over some of these finance choices—ranging from 401k rollovers to invoice financing and beyond—to discuss which one is right for you.
Small business startups are already enduring enough challenges—getting new customers, establishing a good reputation, and the list goes on.
Thankfully, there are a number of great ways to fund your business during its earliest stages.
SBA Bank Loans: One of the simplest and common routes to take is a bank loan, specifically through the Small Business Administration (SBA). The government has vested interests in ensuring a vibrant economy and, thus, has allocated a certain number of funds to help out startups. Just remember, you’ll still need a great credit score and significant security (like your home) to qualify.
Grants: Aside from this, there are also grants. Every year, countless private and public organizations offer grants to help innovative or helpful new technologies and services. By visiting www.grants.gov, you can browse many thousands of potential funding sources to give your startup that extra boost.
Crowdfunding: A somewhat unconventional yet burgeoning new option is crowdfunding. Thanks to the internet and websites like Indiegogo and Kickstarter, you can now receive hundreds, thousands, or even millions of dollars through the generous donations of thousands of people from around the world. Even better, since 2016, the JOBS Act loosened regulations so small businesses can promote their stocks for financing on these crowdfunding sites.
Seed Financing: Seed financing, either through startup incubators or some venture capital firms, provide another option. While firms specializing in venture capital generally do not invest in startups, there are exceptions, such as with Accel Partners. Similarly, startup incubators and accelerators are organizations that facilitate the needs of small businesses and can provide financing.
Friends and Family Investments: Sometimes, though, you can avoid the “official” routes and consider investments from family or friends. It may seem unconventional but it’s a totally viable option that could mutually benefit you and the partner. Indeed, securing funding from someone you know personally can actually boost your odds of being invested in from “official” investors, since it indicates your credibility and trustworthiness.
ROBS / 401(k): There's also ROBS, an often overlooked treasure trove in the form of your 401(k) retirement account, which you might have thought was strictly for use after 65 – but think again. I used my 401k to fund my startup business. Here's how I did it.
ROBS—Rollover for Business Startups—allows you to transfer the money from your 401(k) and use it to finance your business’ startup. In order to do this, you must follow these steps:
Create a C Corporation: turn your business into a C Corporation (others, such as LLCs or S-Corps, do not qualify).
Estabalish a 401(k) Within the Business: the company must have the capacity in place for these retirement securities.
Roll It Over: shift your current 401(k) into the new startup.
Regard Your Startup as an Asset: the rolled over 401(k) funds can be invested into assets.
Investment Becomes Capital: the newly-invested money into the C Corporation is now available as capital for financing.
The ROBS financing option for small businesses is a great one to consider when you need that extra lump sum of cash.
Although like all investments this approach could ultimately fail if your business fails, there are some upsides compared to traditional investment options. Specifically, the 401(k) funds are before-tax and no implications exist towards your credit history.
If your company is already established, there are a number of specific financing options that could work for you.
These include invoice factoring and invoice financing (also known as accounts receivable financing). Although there are many similarities between these and their overall functions, specific differences exist that make them uniquely suited in certain scenarios.
Invoice factoring basically allows you to sell outstanding invoices for cash. The invoices are essentially sold to a third-party entity, entering them into an exchange.
In general, you can enjoy roughly 80% of the advance immediately. Plus, you’ll no longer have to waste so much time hounding your clients for unfulfilled checks.
Invoice financing (also known as accounts receivable financing) works by selling your accounts receivable. In turn, those pending payments become cash that can be used for all types of business-related expenses.
Effectively, you are selling an asset, which is much different compared to purchasing a loan. Although some of the mechanics are similar, the key difference is that it doesn’t come with the baggage of “going into debt.”
Your customers and their reliable credit history essentially become an asset you can capitalize.
Companies like Fundbox, for example, offer invoice financing services . The process involves connecting with your business’ accounting software and then divvying up funds to you within your overall credit limit. Funds are generally transferred to you within 1 business day.
One of the key differences between invoice factoring and invoice financing is that in the latter, your company retains more control and privacy – something I know from personal experience. In contrast, the factoring route usually involves a more invasive third-party company that often contacts your clients about payments.
The internet has brought an unprecedented level of innovation and connectivity to the world. With this has come a broad new set of services, including within the realm of financing, referred to as Fintech.
Many reputable services online that offer reliable lines of credit to help fund your business needs. One of the great conveniences with these lines of credit is that they often come with exceptional terms such as to pay back loans within 6 or 12 months after drawing funds from your account. In other words, your full credit available amount remains in your account, but you are only required to pay it off after a period of time starting once the money is taken out.
Additionally, instead of paying interest on the credit, you only have to pay low monthly fees, ranging from 1% to 4%. Applications can be filled online and approvals can be done simply by connecting to your business’ accounting software, such as QuickBooks.
Aside from lines of credit, there is also working capital. As obvious a source of funding as this may seem, it is often overlooked amid the hectic day-to-day operations of a business. Working capital is based on a ratio of currents assets and current liabilities.
Within these variables exist the potential for short-term funding options that may not be immediately apparent yet could go a long way for sustaining your needs.
Financing is necessary for both startups and established businesses. The aforementioned options come with their own unique offerings that could be a perfect fit for your needs.
The 401(k) rollover plan is one of many startup funding options available to aspiring entrepreneurs. Alternatively, invoice financing or factoring can help find wealth within unpaid invoices. With lines of credit and working capital, you can discover even more nuanced business financing options.
As competitive as the business world can be, there are plenty of helpful financing solutions that can bolster your company when you need it most.
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Marsha Kelly sold her first business for more than a million dollars. She has shared hard-won experiences as a successful serial entrepreneur on her Best4Businesses blog, where she also regularly posts business tips, ideas, and suggestions as well as product reviews for business readers. As a serial entrepreneur who has done “time” in corporate America, Marsha has learned what products and services work well in business today. You can learn from her experiences to build your business.
The end of a lawsuit – or any crisis for that matter – can necessitate the question of how best to move on. How to rebuild or manage your reputation going forward after a public embarrassment can be a significant challenge, and not just for major public figures or the heads of large companies. While celebrities or other wealthy individuals can build teams of professionals to help them navigate the obstacles of managing their image, the rest of us often need to find our own way – perhaps with the help of a trusted friend or family member. Here are five critical steps you can take to help you find your way through these troubled waters:
Revisiting or rehashing the past is almost never beneficial. If you need a reason to help avoid the conversation, you might suggest that your preference for staying quiet is based on advice from legal counsel. Whenever the subject of your lawsuit or crisis does arise, be careful with what you say. You want to avoid appearing at all confrontational, or like you are trying to explain away or defend yourself or your actions. This may give the impression that you are making excuses, which will only reinforce any negative perceptions that people have about the incident.
This should go without saying, but moving forward you need to avoid any behavior that could get you in trouble. You will also want to avoid associating with anyone who might get themselves into trouble of their own and tarnish your reputation in the process. Make sure to pay your bills in full and on time. The key here is to avoid any new crisis – financial, legal, or moral – that will remind people of your previous problems.
Being productive is not only good for your psyche, but also for public perception. Work to regain your confidence, but be sure to avoid anything that could create a perception of being cocky. This can mean scaling back your ambitions – or public discussion of those ambitions at a minimum – and going quietly about your business. You should try to create or reinforce the perception of yourself as reliable, honest, hardworking and trustworthy.
They say that the meek are destined to inherit the Earth. To effectively manage your reputation after a lawsuit, you want to avoid being too loud, overzealous, confrontational, or generally rambunctious. However, that does not mean you should strive to look like a push-over. Instead, let an air of quiet confidence and cautious optimism govern your behavior. Keep a level head, and avoid putting on airs.
After a time, you may want to consider some small-scale philanthropic activities. Try to avoid undertaking anything that might call unwanted or excessive attention to yourself or your legal trouble. Be understated but helpful in your efforts. You may want to align yourself with a philanthropy that is somehow related to the subject of your litigation – if the role is a good fit. However, make sure that your involvement puts you on the right side of the issue, and be very careful not to look like you are only getting involved to help polish your image. The negative perception that might be generated by being seen to use a charity for personal gain will be greater than the positive impact of the philanthropy on your image.
No lawsuit or crisis is ever pleasant. Even though they may get our adrenaline running or force us to focus on efficiency, they are still extremely stressful and counterproductive. Even if we win or ultimately find ourselves vindicated, lawsuits still adversely affect public perceptions of us and our reputations. While there is some novelty found in our brief celebrity, it is quickly outlived and requires us to be far more cautious and purposeful in rehabilitating or shepherding our reputation.
For those who represent substantial interests or find themselves in the public spotlight for the wrong reasons, it can be helpful to surround themselves with professional teams to help manage their reputation after a lawsuit or other crisis. However, whether efforts are being coordinated by paid professionals or just with the help of a friend or family member, the points listed above should serve as guideposts to help rekindle a tarnished reputation or otherwise return to productivity and put the past behind us.
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A Suffolk native, Sara Waterson has been writing for Net Lawman after graduating at the top of her class at the University of Nottingham. She is passionate about law and seeks to educate her readers to the best of her ability. In her spare time, Sara loves to spend time walking in the local countryside with her partner and two dogs.
Building a business is hard work, and building a successful business is even harder. It takes commitment, nerves of steel and a dedicated team. Every SMB owner can point to one or more employees who have gone the extra mile for the good of the business. These people are the backbone of your team, and their efforts, dedication and loyalty should be rewarded with something more than an extra couple hundred bucks in the Christmas card.
Urban beekeeping may be just the entrepreneurial opportunity you're looking for. Here are some pros and cons, and links to a few resources to get you thinking about keeping your own beehives.
