Being an entrepreneur sometimes means wearing several hats, often including those of billing and accounts receivable (A/R). The occupational hazard of being pulled in several directions can make controlling your outstanding invoices a challenge. Not only that, but companies can become so focused on getting new business that collecting overdue receivables is easy to put off.
Blog Category: Operations
At Business Link, we get a lot of questions about money. Quite often those questions are about how to get money to buy essential equipment needed to start a business. There are currently no grants for this type of activity, but there might be some paths you can take.
A few months ago, we brought you the scoop about what market research is, and how you can use secondary data in your business. Now that you’ve mined the internet for everything it's worth, it is time to consider engaging in some primary market research as well.
Do you have a great business idea? Maybe you’re a baker, jam maker, gardener or crochet artist. Farmers’ markets are a great place to start selling your product.
A research report released in 2017 by Alberta Agriculture and Forestry indicated that Albertans continue to flock to farmers’ markets with 78 per cent of households in Alberta making at least one purchase from a farmers’ market in 2016.
Choosing your business idea and identifying your target customers may have been easy; however, finding a place to hang your shingle can be much more difficult. As a new entrepreneur, one of the critical issues you will be faced with is site selection for your business. You will learn that there are two options when looking for a home for your new business; you may lease or purchase commercial property. Which choice is better? Much of this depends on your own situation, comfort level, and future plans.
Poppy Barley is not just another shoe store, and that is exactly what Justine and Kendall Barber wanted when they started their business. The sisters launched into entrepreneurship with the help of Startup Edmonton in 2012. They found a niche in the women’s shoe market and built a successful, multifaceted business for an underserved market.
Whether you don’t yet have a business, or have been running a business for years, market research can be of value to you. But what is market research, you ask? It’s about gathering information on your industry, customers, and competitors so that you’re more aware of what’s going on around you. Once you have this information, you’re in a better position to avoid costly mistakes and make business decisions related to marketing, operations, and the business’ financial situation.
Free rent is just one negotiable factor in a commercial lease, which my business partner and co-author, Jeff Grandfield, and I explain in our new book, Negotiating Commercial Leases & Renewals FOR DUMMIES. Even if you did not receive a rent-free period when you signed your first lease, you may be eligible for one when you renew (although you may have to work harder to get free rent on a renewal).