business knowledge

Our last blog was on regulations in business, in the ,"what to do when looking to start a business”. Today , we are going to talk about ,knowing business. I owned a cabinet shop in the early 80's, had 40 employees, some left to start their own companies, they failed, came back. Why? Knowing your trade is just part of running a business.( and by the way, i cannot build a cabinet!)You can build cabinets, but can you figure out how to sell them for a profit? Do you know how to figure out the overhead of your company? Do you know how to buy raw materials at a good price, and establish credit with the wholesaler? Do know how to negotiate a rent lease on your factory. Building the cabinets in just a small part of owning a cabinet company. This works for any type of business.Manufacturing,retail, service,etc.

Ask yourself these questions before you spend any money. Not sure what to do? email me. I will help with general questions, need more, We can work out a consultant agreement, this will be the best money you ever spent!

see you next time

Your Business Guru

John