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Tim Knox's Articles in Small Business

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  • What’s Stopping You From Starting Your Own Small Business?
    Some people simply don't have what it takes to start your own business. Others just need a bit of kicking to jumpstart them.
  • Dealing With Contractors Teaches Valuable Lessons About Business
    The experience of dealing with contractors and other entrepreneurs is an interesting one as it highlights some key business issues. Planning, scheduling, customer satisfaction and accurate budgeting are just some of the things that play an important role in ensuring a successfull business.
  • Without Market Research You Could Find Yourself Fishing In An Empty Pond
    Market research is a key ingredient in today's business environment. In this article Tim Knox, an expert on business, gives some sound advice to entrepreneurs about market research that can help make better business decision and make the critical difference between business success and failure.
  • Operator Error Is Why Most Businesses Fail
    This is the column that probably gets me kicked out of the entrepreneurial chapter of the Priory of Scion. I look silly in those long robes anyway, so here goes. A thousand apologies to my entrepreneurial brothers and sisters, but. I think the more important question is: do businesses fail or does the entrepreneur in charge of them fail? I have to be honest and tell you that I think most business failures must be laid at the feet of the person in charge.
  • 6 Ways To Fund Your New Business
    Here are a few of the most common ways to finance a new business. All methods have pros and cons and some (or most) may not work for a specific situation. In any case one must always thoroughly investigate the ups and downs of any new venture before jumping in it with both feet.
  • The Reasons Why Most People Will Never Find Online Success
    There is no such thing as a real get rich quick opportunity. If someone tells you that you can start with no money and no experience and make hundreds of thousands of dollars overnight they are lying to you and you are a fool for believing them. Yes, you can make lots of money in a short period of time as an Internet marketer, but you're not going to get rich this week unless you hit the lottery or your rich uncle dies.
  • 11 Ways To Find Products To Sell On eBay
    I was part of an eBay Roundtable discussion recently with six other experts and we all agreed that the number one question most new (and even old) eBay sellers ask is: "Where do I find things to sell on eBay??" To help answer that question I have compiled 10 ways that anyone can use to find products to sell on eBay.
  • Is Bad Customer Service Killing Your Business?
    It’s time to beat the old bad customer service drum again. I know, I’m sick of beating the drum, too, but as long as bad customer service runs rampant through so many businesses I feel it is my entrepreneurial duty to bring it to your attention. So grab a pew and prepare to listen to the sermon I’ve preached before: bad customer service is the bane of business.
  • The Business Failed, But Did You?
    Q: After years of dreaming about starting my own business, I finally took the plunge a little over a year ago. To say the least, my dream quickly became a nightmare. The business didn't do nearly as well as I had hoped. I ran out of money within six months and had to take out a second mortgage on my house just to keep things going.
  • SWOT Analysis Is No Magic 8 Ball
    Q: A key investor in my business has suggested that I hire a consultant to do a SWOT Analysis to help plan for the future. I try not to argue with my investors, but I'm not so sure I need to have this done. What do you think?
    -- Laurie B.

    A: Laurie, before you call in the SWOT team to deal with this investor (sorry, couldn't resist that one), let me tell you exactly what a SWOT Analysis is and how it can not only help you plan for
  • Protect Your Ideas With Copyrights and Patents
    A patent is a form of protection granted to an inventor that protects his invention in the United States for up to 20 years from the date of application. Patent law states that, "whoever invents or discovers any new and useful process, machine, manufacture, composition of matter, or any new and useful improvements thereof may obtain a patent.
  • Choosing A Business That's Right For You
    Many successful businesses have been built by taking a traditional business and making it better. Domino's Pizza was certainly not the first to offer home delivery of pizza, but they were the first to guarantee it would be delivered piping hot to your door in 30 minutes or less. Amazon.com was not the first company to sell books, but they were one of the first that would let you buy books from the comfort of your own home while sitting in your underwear
  • Business Lessons Learned At The Mall
    No offense to my mall merchant brothers and sisters, but a trip into the deepest jungle is more appealing to me than a trip to the mall. I get no joy out of trudging from store to store, attempting to communicate with salespeople from other planets, browsing discount racks of last season's dollar merchandise and peering into windows at mannequins that seem to be in some sort of inanimate pain (why can't they make a happy mannequin?).
  • Achievements Outweigh Education and Experience
    Even on the best of days running a business can be incredibly stressful, not to mention overwhelming and exhausting. It's only natural that there will be times when you wonder if it's really worth it. Asking yourself the "should I just get a real job" question simply means that your human side is showing. And as a human you have a limited tolerance for things you can not control. And that's really where the stress of being an entrepreneur comes from
  • How To Handle The Occasional Oop-See!
    First off, it's important that you understand that the magnitude of your mistake will determine the course of action you take to make amends. If your company's error was such that it caused your customer a significant amount of lost time or revenue, embarrassed them publicly, caused damage to their reputation, or otherwise negatively affected their bottom line, you may face legal repercussions that saying "I'm sorry" will not deter.
  • If It Was Easy Everybody Would Do It
    Even on the best of days running a business can be incredibly stressful, not to mention overwhelming and exhausting. It's only natural that there will
  • Navigating The Internet Sales Tax Laws
    Internet sales taxation has always been a hot topic for those of us who make our living selling goods and services online. One of the more controversial points is that no one, including our own government, has a clue how to implement a fair and logical Internet taxation process.
  • SBA's 8(a) Program Can Help Some Companies Compete
    The 8(a) Program (named after the section of the Small Business Act from which it comes) is an SBA program created to help small disadvantaged businesses better compete in the U.S. marketplace and within the arena of government procurement. The SBA provides business development, technical assistance and other services to the small businesses that are accepted into the 8(a) program.
  • Starting Your Business By The Book
    To begin, here's the best legal advice I can give you as a new business person: find yourself a good lawyer and make him or her your very best friend. Granted, your new best friend will charge you an hourly fee for chatting on the phone or talking business over lunch, but you'll find it to be money well spent. A good attorney can save you far more than the cost of his services. I rarely make any decision that has the potential to impact my business without first consulting my attorney.
  • The Joy and Hazards Of Finding Your First Office
    Putting your name on a commercial lease is one of the first tangible commitments an entrepreneur makes to his or her business and searching for that first office or retail space can be a truly invigorating experience.
  • Turnkey Dropship Websites Save You Time, Trouble and Money
    Lucky for you and me there are now a number of companies on the Web that can help folks like us set up a turnkey dropship website without ever breaking a sweat
  • Use Noncompete Agreements To Help Protect Your Business From
    Renegade former employees riding the free enterprise wave is one reason noncompete agreements are gaining in popularity among employers who hope to use them to help protect their business from competitive threats launched by former employees. Many employers are now demanding that key employees sign noncompetes as a stipulation of employment.
  • Website Design Considerations
    If you want to be a web designer, be a web designer. However, if the key focus of your business is building widgets, it doesn't take a rocket scientist to figure out that your time would be better spent building widgets, not Web sites.
  • Is Selling On eBay Just A Hobby Or A Real Business?
    With so many people selling on eBay these days this is a question I get all the time. To many eBay sellers the thought of running an actual business is about as appealing as getting negative feedback, so they go out of their way to convince themselves that selling on eBay is really "just a hobby" and therefore, should not be susceptible to income tax laws
  • How To Create Your Own Info Product
    In the last article we talked about why informational products are the best type of products to sell online. An informational product can be a digital book (known as an e-book), a digital report or a white paper, a piece of software, audio or video files, a web site, an ezine (electronic magazine), or a newsletter.
  • Don't Fall For The Latest Internet Identity Theft Scam
    The shear number of PayPal customers is one reason it has become a popular target of scam artists trying to steal personal information from individuals and businesses alike. Identify theft is on the rise. Thanks to the Internet stealing someone's identity has never been easier.
  • When It Comes To eBay, Don't Follow The Herd
    While it's true that selling products on eBay can be a quick, low cost way to launch an online business, following the herd by selling the "hot product" of the moment, is not a great idea. To the contrary, chances are you will be stomped in the ground by the herd and left lying in the dust with your unsold inventory in hand.
  • Perceived Value Is In The Eye Of The Beholder
    Pricing is an important aspect of every business because price is used to create financial projections, establish a break even point, and calculate profit and loss. It's also important to establish a good price point from the beginning because it is much easier to lower prices than to raise them.
  • The "Other" New Year's Resolution
    "This year I will start my own business!" I call it "The American Dream Resolution," and like most New Year's resolutions it is a proclamation of intent that is often made, but seldom carried out (at least in an effective manner).
  • The Business Autopsy: A Fact Of Life
    Last week we discussed the importance of performing an autopsy on a dead business. No, I haven't been watching too many of those wonderfully graphic, TV forensic investigation shows. The reason I recommend you do a business autopsy is to uncover the exact reasons why the business died
  • The Thick Line Between Buddy and Boss
    I have made just about every business blunder you can imagine. I am like the Evel Knievel of the small business world, if Evel Knievel wrote a weekly column on motorcycle safety. One of the more unpleasant things I've had to do is fire a good friend who was not doing the job I hired him to do. He needed a job, I needed an employee, so I thought I would give him a shot
  • There Are No Dumb Business Questions, Not!
    I've gotten a few head-scratchers in response to this column. You know who you are, but don't worry, your secret is safe with me. I have a confession to make. Writing an advice column, whether it be advice for love or money or business, is often hard to do with a straight face. Occasionally a question comes over the digital transom that just makes me go, "Huh?"
  • Entrepreneurs Just Get Better With Age
    According to recent studies 22 percent of men and 14 percent of women over 65 are self-employed. That's compared to just 7 percent for other age groups. According to a Vanderbilt University study the number of entrepreneurs age 45 to 64 will grow by 15 million by 2006.
  • How To Handle Customer Billing Snafus
    Seriously, whether the client owes you the money or not is a moot point. Yes, you made an accounting mistake, but if the client agreed to pay you a certain amount each month in exchange for certain services rendered, and you have been under-billing that client for delivering those certain services, the client owes you the money, period.
  • How To Create Multiple Streams of Online Income E-course
    I love the E-course concept because it gives you the opportunity to learn from the comfort of home. There are no heavy books to lug around, no rushing off to class, no smelly dorm roommates :o)
  • Do You Have What It Taks To Be An Entrepreneur
    There are a variety of skills you'll need to succeed as an entrepreneur and chances are do not possess them all. One of the great things about being an entrepreneur is that if you lack certain skills you can always hire people with those skills to help round out your company skill set.
  • Taxing Your eBay Profits
    As a small business person-slash-advice columnist I dread the first quarter of the new year. Not because in my mind my own business fortunes start at zero again every January or because I have already dismissed every New Year’s resolution I made when the clock rang out the New Year. No, the reason I dread the first quarter of the new year is that my email box floods with questions about business taxes and the IRS, my two least favorite subjects on earth.
  • If You Build It, Will They Come?
    Assuming that a website will automatically attract customers is the single biggest mistake that many business owners make. It is this mistake that eventually leads them to dismiss their website as a failure and abandon their online sales efforts.
  • The Business of Identity Theft
    The allure of PayPal is that it does not require the seller to have a bank merchant account through which to process credit cards. Anyone with a verifiable email address and bank account can use PayPal and the service can be implemented almost immediately after registering.
  • What's In A Name? When It Comes To Your Business, Plenty!
    In fact, deciding on a business name is one of the most important decisions you will ever make. The right business name can help you rise above the crowd while the wrong business name can leave you trampled in the rush.
  • Credit Cards, Merchant Accounts, and Your Bottomline
    The decision to accept credit cards is a wise one for any retailer. I agree with financial guru Dave Ramsey's teachings regarding the use and abuse of credit cards. Many people dig deep holes with credit cards that are hard to climb out of. But, from a practical business point of view, any retail business that does not accept credit cards is leaving money on the table.
  • Business Is No Guarantee of Riches
    We have all had customers who expected far more than was their due: customers who were unreasonable, overly-demanding, condescending, hard to please and sometimes, even dishonest in their dealings with you. When a customer's reasonable expectations become unreasonable demands you must decide whether or not that customer is doing more harm to your business than good.
  • Cut Start-Up Costs By Using a Dropshipper
    Dropshippers, as they're called
    --are an excellent way to start your e-business and, if done properly, don't have to be a costly endeavor. There are literally hundreds of companies out there that will dropship products for you, everything from gifts and housewares to power tools and furniture.
  • Don't Be Afraid To Give Problem Customers The Boot
    We have all had customers who expected far more than was their due: customers who were unreasonable, overly-demanding, condescending, hard to please and sometimes, even dishonest in their dealings with you. When a customer's reasonable expectations become unreasonable demands you must decide whether or not that customer is doing more harm to your business than good.
  • Teaching Large Companies To Think Like The Little Guys
    The fact that innovation and entrepreneurship run rampant in smaller companies, but is often suppressed in larger companies is nothing new. Management guru Peter Drucker first addressed the issue in his 1985 book, Innovation and Entrepreneurship. Drucker wrote that one of the most often-asked questions in many a 1985 boardroom was, “How can we overcome the resistance to innovation that plagues most organizations?”
  • Teaching The Big Boys To Think Small
    Last week I told you about a recent report from The Conference Board that has a lot of big company CEOs concerned about competition from smaller, more innovative and entrepreneurially-minded companies. To refresh your memory, The Conference Board's CEO Challenge 2004 reported that 87% of the 540 global businesses surveyed cited innovation and enabling entrepreneurship as priorities for their companies, and 31% considered these issues of "greatest concern.”
  • Opportunity Does Not Knock
    I can tell you that as a breed, entrepreneurs are an impatient lot and many jump on the first business bandwagon that comes along just for the sake of being in business. That’s a big mistake that usually comes back to bite them in their entrepreneurial behinds.
  • Veteran Entrepreneurs Are Growing In Ranks
    What my eldest offspring doesn’t understand is I have a great life. In fact, I am living the life I have always dreamed of living. My life just happens to revolve around Planet Business. I am an entrepreneurial addict, a business junkie. Business is my chocolate, my Krispy Kreme donut, my nicotine, my caffeine, my crack. Maybe I’ll start a 12 step program for entrepreneurs who want to kick the habit and charge a cover to get in.
  • How Good Is Your Big Idea
    Every business idea, no matter how good it sounds while bouncing around inside your head, should be put to the test before you invest time and money into its execution. Success lies not in what you think of your idea, but what the buying public will think. Many entrepreneurs find out too late that the public’s opinion of their idea differs greatly from their own.
  • To Go or No Go, That Is The Question
    Many entrepreneurs would rather have their front teeth pulled without anesthetic than go to the time and trouble of creating a feasibility plan; often because they are afraid of what it will reveal
  • For Entrepreneurs A SIMPLE Plan May Be Best
    Let me give you a quick overview of a few of the retirement plans available to small businesses so you at least have an idea of what’s out there before you start your search for a good financial advisor.
  • Is Brick and Mortar A Passing Fad?
    During the dot-com boom the mantra was “Brick and mortar is dead!” Then when most of the dot-com’s crashed like an elephant sitting on a wicker chair, the mantra suddenly changed back to “The Internet is dead! Long live brick and mortar!”
  • An Entrepreneur and a Life To Be Remembered
    Most of you who read this column probably have no idea who Corey Rudl was or what he accomplished during his short life, and that’s OK. You also have no idea of the imprint he made on me and millions of others who make our living (at least in part) as online marketers. Again, that’s OK. For all his accomplishments, those who knew him well have said that Corey was more concerned about building his businesses than being a public figure.
  • You Get To Ask The Questions For Upcoming eBay Teleseminar
    Remember way back in November of last year when I invited you to go to my website and submit your most burning question about starting, running, and prospering from your own eBay or online business?
  • How To Profit Using eBay's Saved Search Feature
    Did you know that eBay will help you locate products you can buy cheap, then flip for a quick profit? No? Then listen up, because I am about to let you in on a little known feature of eBay that can literally stuff wads of cash in your wallet in less than 24 hours.
  • How To Boost Your Bottom Line With Just Two Little Words
    I hate to sound like one of those cheesy get-rich-quick commercials, but this week I am going to let you in on a little secret that is so powerful that it will immediately change the way you do business. In fact, this little secret is so powerful that you will be amazed at its immediate effect on you, your employees, and your bottom line.
  • How To Make Money As A Self-Improvement Guru
    As you know, I'm always on the look out for new and exciting products that will make you and me money. That's partly what this newsletter is all about: when I find new opportunities that show tremendous promise, I feel obligated to share them with you.
  • Do I Really Need A Business License and Tax ID?
    I've gotten quite a few emails recently from ebusiness owners who seem to think that just because their business is conducted online or from the comfort of home that the rules and regulations that govern brick and mortar businesses do not apply to them. The ebusiness questions I get most often do not involve building websites or conducting ecommerce
  • How To Create Your Own eBay About Me Page
    Regular readers of this newsletter and my newspaper column know that I am a big fan of eBay's About Me Page feature. This is a special page you can create as part of your eBay account that is linked from your eBay ID (with a little About Me icon). You can use your eBay About Me Page as a sales tool.
  • What Makes A Good Leader? Ask Uncle Sam
    In a recent study conducted by the Army War College, subordinates of the major generals who are leading the war efforts in Iraq were asked to rate the performance of their superiors
  • Why A Good Credit Score Is Important To Your Business
    Whether you're in business or an individual, you should have an idea of what your credit score is, even if you're not currently applying for credit. Knowing your credit score and occasionally checking your credit reports also helps you protect yourself from identity theft and credit fraud.
  • The Bad Guys Are Phishing For Your Personal Information
    The latest attempt by phishers (identity thieves) to steal the personal information of eBay members hit my inbox earlier this week and I have to say, this one is pretty convincing. Even this old dog did a double-take before realizing that the identity thieves were phishing for my personal information again.
  • What's Your Company's Email Policy?
    Does your company have an email policy? Did you even know there was such a thing? Well, there is, and if your company doesn't have one you are not only risking the professional image of your firm, but also risking potential liability issues that may arise from the misuse of your company email system.
  • Please Don't Buy Anything From Me
    This week I had one customer threaten to hunt be down and shoot me like a dog. Another said that if she could get her hands around my neck she'd strangle the life out of me. And still another sincerely hoped that I "burn in Hell for all eternity." What did I do to deserve these threats
  • The Entrepreneur's Checklist
    I was asked the other day what personality traits I thought were important to entrepreneurial success. I immediately gave my preprogrammed reply about passion and dedication and hard work. After taking some time later to ponder the question a little deeper (I normally operate in shallow waters), I came up with a more detailed checklist for entrepreneurial success.
  • Santa: The Consummate Entrepreneur
    You've probably never considered the fact that Santa is the CEO of a large organization that not only distributes a vast assortment of products throughout the world, but does so in a single night with just a sleigh and eight tiny reindeer. Sam Walton would have killed to have Santa's logistics manual.
  • It's All Up To YOU
    If you're waiting for Ed McMahon to show up on your doorstep and proclaim, "This is your lucky day!" you are going to have a long, miserable wait. Ed can't make you a success. I can't make you a success. It is all up to YOU.
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