Schuh: Addressing issues key for emerging markets
By Lee Schuh There are a number of books and articles covering business issues for dealing with emerging economies in other nations. However, I tried very hard, without success, to find a textbook or even a good article on emerging markets in our own country. There are areas in the Appalachian Mountains and inner cities Read More →
Update business plan often to increase success
By Lee Schuh It seems like a day doesn’t go by without a businessperson asking me, “Why do I need a business plan if I am hitting industry benchmarks?” I tell them the standards are mediocracy and ask them how long they can exist being just like the other companies. Even matching yourself against the Read More →
Profits should not be considered a dirty word
By Lee Schuh My wife and I recently overheard a boisterous group of 20-something women bemoan the evils of profit while we ate an early dinner at our favorite restaurant. They blamed their poor-paying jobs on those who get the profits. They complained that these profit-takers are the only ones benefiting in this society. The Read More →
Don’t let overhead kill your business
By Lee Schuh Many businesses consider overhead to be the No. 1 impediment to reaching their business goals. However, it isn’t overhead that is the problem but rather the results of poor planning for the future growth of the business. This is certainly true for companies growing relatively fast. We will use the term overhead Read More →
Entrepreneurs should plan for retirement
By Lee Schuh Few entrepreneurs really think about preparing financially for retirement. Too many are depending on Social Security. Frankly, Social Security is only a safety net and not intended to be anything else. You are not going to have a very satisfactory retirement if Social Security is the major financial contributor. When asked Read More →
Succession planning critical for business
Entrepreneurs know that businesses are like children. You know they will leave you at some point in the future, but you really don’t want to think about it. Small-business entrepreneurs who think of a business as their favorite child too often avoid the important task of exit planning. It is never too early to plan Read More →
