9 Questions to teach entrepreneurs to do more than dream

I recently read in The Wall Street Journal an article authored by Ken Kuan, Founder and President of Torrey Hills Technologies LLC in San Diego, ‘Teaching entrepreneurs to do more than dream”. Kuan was pondering on the closing of the University of California, San Diego’s Moxie Center for Student Entrepreneurship. He pointed out that, although the UCSD Moxie Center was promoting entrepreneurship spirit, it was run like a charity. Not really a good example for startups! His analysis concluded that the UCSD Moxie Center had failed to teach the most basic survival skills for business: – understanding the concept of win-win – understanding how to forecast profits and losses Per Kuan, many U.S. business school graduates can’t create a realistic profit-and-loss statement. Sadly, the same failure to execute or teach these basics concepts also spread across small businesses, incubators, and other city and county resources. Many entrepreneurs start a business based on a trade or skill that they are expert at. However great their idea may be, the real art to building a sustainable prominent business lies less in the idea itself than in the process to make your idea relevant! The two basic principles referenced by Kuan are the foundation upon which this process is being built in order to yield exponential growth. Understand the concept of win-win A win-win situation is an instance in which both parties that participated in the transaction come out feeling satisfied that they got a fair shake, says Kuan. So how relevant is your idea? Why should anyone care about it? Entrepreneurs too often have a narrow focus on their own perception...

4 Major Reasons to Refinance Small Business Debt

One in five businesses are drowning in high-interest credit card or business debt. As an entrepreneur you often have to make decisions that satisfy the short term need, but sacrifice long term benefits.  After The Great Recession, we have seen a substantially low risk tolerance from the banking industry towards small businesses. What do you do?  You become creative in how you fund your business in order to keep your business moving forward.  Why should you consider refinancing your debt? Convenience: If you have multiple debtors you probably have multiple due dates. Simply consolidating them to one will relieve mental, operational and cash-flow pressures. Save Money: One interest rate that is less than a blended rate (the average rate between multiple loans) means less money in payments and the ability to pay it off faster. Increase Cash-Flow: With multiple lenders comes various rates. One payment, one rate, means more money stays in your business. Get a jump in your credit score: Credit scores still matter both in business and personal. By consolidating debt you will create satisfied accounts, thereby; improving your risk factor. I need help now Author: André Wilson “Money Man”, Managing Partner, Altima Business Solutions “Empowering you to...

How to easily customize your Facebook news feed?

Haven’t seen posts from your favorite pages lately? Facebook allows you now to customize your news feed to prioritize the updates from specific pages (or friends). The easiest way to ensure you won’t miss anymore posts from your favorite page is to go directly to the Facebook page, select Like (1) and See First (2).   You may also choose the full customization option. From your desktop computer, choose the down arrow on the far right of the menu bar (1) and select News Preference (2).   Next select Pages (3) and organize them alphabetically (4). To ensure your news feed contained the updates you want, click the Following button for each one of your favorite pages and select the See First (5) option.   And voila! (6) You will never miss again news from your preferred pages. You can use these options for groups and people. Want more simple tips to ease your social media experience? Like and See First our Facebook page Altima Business Solutions, and simply leave your request in the comment section. Author: Carine Dieudé, Strategy Director, Altima Business Solutions “Empowering you to focus”...