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The EPIC Blog

An ongoing series of informational entries designed to enlighten, challenge, inspire and equip. #BeTheChange

EPIC Mission: Guiding the heroes of change.

Encased by Contentment

March 27, 2017

When the going gets tough, the tough gets going. This is a familiar battle cry for times when we are entrenched in the myriad of difficulties that can stop us in our tracks. We marinate on these words, or on some semblance of them, and we find the intestinal fortitude to persevere. We pull ourselves up from the floor one more time, dust ourselves off, refocus on our dreams and goals and let the inner passion that was the impetus for beginning our journey be the driving force behind our forward motion towards overcoming obstacles and turning our dreams into reality.


But what about when things are going well? Maybe we aren’t completely crushing it (or maybe we are), but everything is pretty good and nothing is falling apart. How can we stay charged up and continue to innovate and revolutionize? How do we overlook our current successes and see that we HAVE to continue to do the things that got us to this point or else we will most assuredly begin backsliding? If it ain’t broke, don’t fix it….right? Why risk breaking stride and disrupting momentum, slow as it may be, when all is well? These are all great questions.


Too often we can become encased by contentment. Sure, everything seems like it’s humming along nicely, but as soon as we begin to settle for good enough, we have taken the first steps towards our inevitable demise. Good becomes the enemy of great when we forget what has gotten us to this point, namely a dogged determination to fiercely attack the status quo. Yes, we should absolutely take a moment to celebrate our minor victories, but we cannot rest in yesterday’s accomplishments if we truly intend to cast out mediocrity in ourselves and in the world around us.


When you feel yourself getting settled and you begin catching yourself believing that you’ve done all you can do, ask yourself these 6 questions.

1. Why did I begin this journey in the first place?

2. If I do not continue, who will?

3. If now is now the time, then when?

4. What will happen if I do continue?

5. What will happen if I don’t?

6. What is the legacy I wish to leave after I’m gone?


By virtue of honestly contemplating these few queries, my hope is that the spell will be broken and you will, once again, rise up and challenge yourself and those around you to disavow business as usual and rejoin the army of those of us who will be the change we wish to see in the world around us.

EPIC Mission: Guiding the heroes of change.

What to do When "Never" Comes True

4/10/2017

“Never” is a very big word, far larger than its five little letters. It communicates that there is zero chance of something ever happening under any circumstances, no matter what. We often use the word for special emphasis for how steadfast is our resolve in ensuring a particular outcome. Unfortunately, there are many things that we have absolutely no control over and, as such, the end result of a given situation may be far different than we had originally envisioned. Therefore, no matter how much we may want something to happen (or not happen, as the case may be), we must have a plan in place to accommodate the outside chance that “never” may come true. Let’s take a closer look at this concept by working through an example.


As a very proud small business owner, you might declare with all your heart that you will never seek outside funding because you don’t want to surrender any of your control over your business. While this may be a very noble idea, what if your business begins to take off and the only way to take it to the next level is by gaining an influx of fresh capital? Maybe you need to go on a massive hiring spree, or perhaps you need new equipment. You’ve checked with the bank and you’ve been denied. You simply don’t have that amount of cash in the bank and your friends and family can’t help. You can choose to either stay where you are and possibly miss the upswing and allow your business to stagnate, or you can adjust your sails and accept that 80% of something is much better than 100% of nothing (or of something much smaller). If you’ve ever watched Shark Tank on TV, this is something that many of the contestants seem to have never considered before their appearance. This is mind boggling! Make sure that you and your team have worked through this scenario and will be able to act decisively should you encounter this fork in the road. Otherwise, paralysis by analysis may set in and you could find yourself on the outside looking in, having missed your window of opportunity altogether.


The thing to keep in mind is that all sorts of “never”s happen every single day. Contingency planning is a vital part of ensuring that your small business or nonprofit is able to remain vital and viable as conditions change. No one can ever think of all of the possible outcomes and plan for all of the variables, but don’t let that keep you from trying. Our economy and our society depend on you keeping your train on the tracks and headed towards success, however you define it. Take the time to plan your work, and then work your plan. Remember: the only shortcut is to do it right the first time. Good luck in all your endeavors and let us know if we can help you along the way.

EPIC Mission: Guiding the heroes of change.

Five Strategies for Protecting Business Assets

4/24/2017

Starting your own business can be a rewarding and amazing adventure that offers you the freedom and financial compensation that you've always wanted as part of your career. Running your own show or being part of a team of like-minded entrepreneurs is for some people what the American dream is all about. Finding your way in the business world has a lot of details that will need your attention, and if you're in a brick and mortar environment, security is one that will be on the top of your list. Here are some tips on getting a system that works for you set up right.


Think Like Goldilocks

When you're first getting started, being budget conscious will be second nature. Be sure that the security system you install is the right size for your space. You might think you can never be too secure but your bottom line will tell you differently. Whether you have one big space or several smaller rooms will impact how many cameras and other sensors you need. Choosing what you need covered before you contact providers will help you and them get the technical specifications right.


Pricing and Flexibility

One of your goals is most certainly for your business to grow, and that means the space you work in might be expanded or even moved to a different location. Check out the flexibility of any contracts before you sign them so that you know your security system and the coverage your provider offers can grow with you. A scalable contract is what you want. Compare any other security vendors' quotes to the ADT pricing model to give yourself a point of reference from a well-known security industry provider.


Mobile Functions and Alerts

Just because you're based out of a physical building doesn't mean as the business owner you're going to be there 24 hours a day. Having a system that has mobile options and alerts will give you the peace of mind to leave your workplace and go out and get more business. Make sure you set up alerts that are important but not a nuisance that you tune out because you get so many.You don't need to know the back door is ajar in the middle of the day while your staff is doing inventory.


Owners and executives work hard to build their businesses, their teams, and their assets. In some ways the modern age has given us more access to more markets with fewer barriers to entry than ever before. Still, serious security concerns exist. Don’t allow security shortcuts to leave you exposed to theft or property destruction. To protect what you’ve built, take time to evaluate the exposure of your various assets - especially capital assets and inventory. Identify gaps in your current security strategy. Make a plan to close those gaps, then evaluate your options. Given the right tools, strategies, and resources, you can protect what you’ve built, and ensure the survival of your business interests for years to come.

EPIC Mission: Guiding the heroes of change.

What Hiring Managers Should Know During the Interview Process 

4/28/2017

A company's hiring manager is the driving force behind the entire employment process, from beginning to end. As the key individual who both initiates and concludes the act of hiring a new employee, a hiring manager needs to be informed all along the way. Your job is to make sure the company is doing its best and working through the best people for the job. Here are some tips for hiring right the first time around.


Competence is Only Part of the Puzzle

Every hiring manager needs to determine whether a candidate is able to perform the job's duties. This is usually the primary piece of information that human resource teams want to learn about a prospective employee. Fortunately, an applicant's resume usually tells the story clearly enough, but follow-up questioning by the hiring team is crucial. If, based on education and prior experience, the team determines that a candidate is able to perform all job duties, it's time to move on to the next step.


Candidate Likeability Plays an Important Role

Personality plays a much larger role in the hiring process than many people think. Young job applicants tend to believe that the process is all about skills and education. However, hiring managers work hard to find out whether an applicant will be a good fit within the company culture. That means things like manners, conversational ability, friendliness, and the ability to get along with a diverse team are of the utmost importance during the interview process.

Hiring managers will often scan a candidate's social media sites to gather clues about personality and likeability. Blogs, websites, and popular social sites offer a wealth of data to the savvy hiring manager.


Motivation is of Paramount Importance

Even when personality and competence are checked off the list of successes, hiring managers still need to find out whether a candidate is motivated to succeed in the job. If there are clues that the applicant might lose interest in the position, human resource teams want to learn about them sooner rather than later. There is nothing worse for a hiring manager than bringing someone on board only to have that person resign two or three months down the road. Make sure you provide resources for immigrants and veterans. People who you might not first consider could be the best fit, and become the most loyal.


A hiring manager's job includes a wide array of activities, some of which are technical and some of which are not. From the initial staffing meeting to the actual hiring of a new employee, anyone who holds the job title of "hiring manager" is invested with multiple responsibilities.

EPIC Mission: Guiding the heroes of change.

​What Every Startup Needs in the Beginning Stages

5/3/2017

Many people dream about owning their own business. However, only a handful take the next step and turn their business concept into a real startup venture. If you have decided to move forward with launching your business concept, you may be wondering what initial steps you need to focus on to improve your chances for success. When you turn your attention to these essential factors, you can more easily launch your startup and gain success.


A Budget

All businesses need to have a functional and realistic budget. It can be difficult to accurately determine all aspects of your budget before you get started. However, the more realistic and accurate your budget is from the get-go, the more easily you will be able to manage your finances. You can list out all anticipated expenses, including one-time and recurring fees. Then, get quotes for each line item in your budget. When your budget is complete, you will be able to determine how much income you need to generate to break even as well as to produce enough income to support yourself personally. You will also determine how many months you may realistically operate before you generate a sufficient level of income to support the business and yourself.


Access to Capital

Most businesses will need access to a significant amount of startup capital. You may need to invest in products, equipment, technology, marketing, and more. You may also need to find a way to supplement your own income and pay your bills for a few months until the venture starts to turn a profit for you. When you create your budget and project income growth for your business, you can better determine how much money you will need to get your business going. Then, you can explore financing options available to get the money you need, such as small business loans, the personal injection of capital from your own bank accounts, crowd funding, and more.


The Right Technology Services

Technology is a critical aspect of running a business today. At the most basic level, you will need access to business internet and phone service. Focus on finding a service that is reliable and meets your need for speed and bandwidth. You may also need to upgrade your technology devices, such as your laptop, desktop, tablets, and smartphone. Explore related accessories, such as adapters that turn your smartphone into a credit card payment terminal. By upgrading your access to technology, you can more easily begin serving your customers.


A Marketing Plan

Some business owners don’t start thinking about marketing until they have launched a website and started actively trying to solicit business or sell goods. This can easily backfire on you. You need a detailed and well-thought out marketing plan to properly budget for expenses in the coming months. You also need to know who your target audience is and what the most cost-effective ways to reach them are. Your marketing plan should focus on what aspects of your products or services may appeal to your target audience and how to position your marketing efforts to be successful in this effort. It takes a bit of research, but is well-worth the effort.


Before you formally launch your business, you should complete a considerable amount of planning and research in the areas mentioned. Formally preparing a detailed business plan will cover your bases on many of the points described here, and this step can also help you to seek financing, to guide your business decisions and more. In addition, you should think about preparing your work environment from a technological standpoint so you can better perform business-related tasks and serve your customers. While there are many steps to take to launch your startup, completing these important steps will get you started on the right foot. 

EPIC Mission: Guiding the heroes of change.

Tips for Financially Supporting Your Startup on a Budget

5/16/2017

Becoming an entrepreneur can be an exciting time, but is also a little stressful. It gives you a chance to live your dreams and be your own boss, but funding a startup business can be a challenge. The good news is, there are several things you can do to fund any kind of business on a budget.


Be a Minimalist

There are certain things every business owner needs to have. Fees for permits, licenses, and safety equipment are just a few you will have to spend money on up front. However, there are some ways you can cut costs on other things. For example, instead of buying state-of-the-art equipment, you can get pre-owned office supplies like desks and chairs. Get the bare minimum at first and see how you can stretch your budget with unnecessary items you’ll only need later on.


Get a Grant

A grant is the best type of financing you can get because you do not have to pay it back. There are a number of local and federal agencies that provide certain businesses and nonprofits with funding. It is important to research the different opportunities, find out about the requirements for the grant, and submit the application on time. A good agency can even help you craft funding applications to help this process become even smoother for you.


Partner Up

If you are a solo business owner, you may want to consider teaming up with another colleague. This will not only benefit you financially, but also allows you to expand your existing market. However, there are a couple of things you need to take into consideration. First and foremost, you will need to make sure this person is a good fit for your company. This person should also have to be willing to commit to a partnership and be willing to grow with you.


Crowdfunding

Crowdfunding is when a business, individual, or organization asks the general public for monetary support. One does not have to repay the funds that are donated with the expectation that your organization will pay back with products, events, and amenities. Most people who use crowdfunding to raise money will provide perks to donors as well. For example, people who donate money can get a free product or service.


Self-Funding

There are many ways you can self-fund your business. For example, if you have a valuable asset such as a boat or second home, then you can sell it in order to get cash back. You can also use your personal savings to fund your business. Additionally, if an attorney helped you get a settlement after an accident or suit you can also use that money as a baseline. These options will allow you to fund your business without going into debt.


Starting a business can be an expensive endeavor. Crowdfunding, grants, and self-funding are just a few of the many ways you can fund your startup. You should also cut expenses wherever you can and look into better ways to budget as you go along. Talk with a consultant and see where you can get started funding your new business. All it takes is a little direction and creativity, and your financing will go far. 

EPIC Mission: Guiding the heroes of change.

5 HR Policies Your Startup Needs Immediately

5/18/2017

In recent years, major human resources scandals have rocked Silicon Valley giants such as Palantir, Uber and Zenefits. These companies have more in common than scandalous HR incidents; all three started as audacious startups that quickly became the darlings of the tech world.


Tech analysts and venture capital firms are paying close attention to the aforementioned HR scandals because they believe that there are valuable lessons that can be learned from each situation. With this mind, here are five policies that every startup company should adopt as early as possible:


Focus on Employees

This should go without saying, but it is ruefully ignored by tech startups: a business enterprise can only be as successful as its employees can make it, and they need to feel comfortable as they seek success. This should be more than just a policy; it should be adopted as a company philosophy.


Employee Handbook

Venture capital firms often require their target investments to write an employee handbook as one of the conditions that they should meet prior to funding. The two most important policies to be stated in this handbook should be discrimination, as well as sexual harassment or sexual assault. All it takes is one complaint related to one of these issues to prevent a startup from making it past the planning stage.


Employee Agreements

The sexual harassment or sexual assault policies spelled out in the manual should also be incorporated in the employee agreement along with other expectations such as salary, days off, vacation, grievances process, responsibilities, expectations, and duties. The last thing a startup founder wants to do is rely on handshake agreements when hiring new employees. Written agreements should be refreshed and modified as needed; for example, when an associate is promoted or when she is given stock options as an incentive.


Secure HR Files

Personnel files should be stored and managed with the utmost security for a few reasons. First of all, they are highly sought after by identity thieves; second, a data breach involving HR records could result in a devastating lawsuit. Employees have very high expectations of privacy and security from their HR departments, and they truly deserve them.


Management Style

Entrepreneurs seldom make references to their preferred management styles until they have already hired managers. The desired style of management can only be enforced if it is actually spelled out as an HR policy that appears in the employee agreement.


In the end, it is important to remember that startup companies that do not establish HR policies are twice more likely to fail within their first few months of operation. Take the time to plan things out and create the policy-based infrastructure that will keep your organization out of trouble so it can focus on ongoing growth and viability. 

EPIC Mission: Guiding the heroes of change.

What Business Owners Should Know When Considering Company Vehicles

5/20/2017

You’re thinking of investing in a few vehicles for your company. The question on the table now is how to go about choosing the right ones. Selecting the right company vehicles does not have to be a tiresome or anxiety-inducing chore. By keeping a few basics in mind, you can come up with choices that will serve the business well for a long time.


What Function Will the Vehicles Serve?

Before setting out to look at any vehicles, take the time to decide how they will fit in with your business model. Many business owners find that they need two or three different kinds of vehicles to cover all the practical applications.

For example, perhaps you are thinking of investing in a great-looking sedan. Its function will be mainly to transport important guests to and from the airport. With this vehicle choice, the emphasis is on presenting a professional appearance, a sense of style, and providing your guests with a comfortable ride. If you are searching for options to transport things rather than people. The emphasis should be on space and compactness. Make sure all your materials you will transport will fit inside.


Lease or Buy?

Another point to ponder is whether leasing versus buying would provide access to the kinds of vehicle you want. There is no one-size-fits-all answer to this question. Depending on the type of business you operate and the intended purpose of each vehicle, you could find that leasing one type while buying another works best.


Maybe purchasing utility vehicles makes a lot of sense since they will see quite a bit of use. Leasing might still be the right option for a company car that will only be used for things like trips to and from the airport, taking clients out to dinner, and similar tasks.


Reliable Service

No matter what type of vehicles you have in mind, they must be well built. Even if you are leasing, go for makes and models that have an established reputation for requiring little more than basic maintenance. Knowing the vehicle is always ready to go when you are ensures you and your team can take care of errands and other tasks on time. That will mean a lot in terms of maintaining positive rapport with your customers.


Safety Matters

The range of safety features included on any vehicle make and model must also be taken into consideration. As any truck accident attorney can tell you, having the right combination of safety features is just as important as proper maintenance. The right features minimize the potential for being involved in an accident. At the least, those safety measures will increase the odds of your employees making it through an accident without serious injuries.


Sit down today and make a list of what you need in the way of company vehicles. Consider your options carefully before making any selections. The right choices will save the company money over the next few years and ensure the right type of transportation is always on hand.

EPIC Mission: Guiding the heroes of change.

How POS Systems Are Hacked

5/25/2017

Most people in the modern world have been in the vicinity of a Point of Sale System -- or a simple cash register. In a world dominated by technology and transactions, there are not very many places where a business is run without one. They keep track of how much money is in the register, calculate totals, and can sometimes record personal information such as credit card numbers. However, companies with a P.O.S. system from the smallest corner store to the largest franchise in the world are susceptible to hackers who have the skill to retrieve private information.


RATs

Using Remote Administration Tools, a hacker has the ability to take control of a server computer from anywhere in the world. The only information they need is the type of software that the target company uses to monitor their cash registers, the IP address of the main/server computer at the target location, and a password. Usually, the passwords that are used are not very complex, and may even have it written down somewhere. That means success for anyone pursuing to hack the company. From there, they can place viruses into the network, replace sensitive information, or steal valuable assets.


Keyloggers

Sometimes, hackers are not people outside of the system attempting to hack into a company. They are usually people who have access to the main computer in a grocery store, restaurant, or business, and can simply insert a small external drive to any of the computers at will. They have the ability to upload what is known as a Keylogger to the computer their boss uses, leave it there for a few days, and take it back once it collects information. Basically, it will record keystrokes -- every click on the keyboard. Just by using the tool of time, the password of the company will be recorded onto the device, and the hacker can use them to do anything they want to their cash registers.


There will always be ways of exploiting the system to retrieve data, avoid paying fees, or to steal from companies without them knowing who committed the crime. Companies all across the globe pay over thousands of dollars each year to prevent hackers from circumventing their securities, and some hold competitions with cash prizes to see if anyone can actually make their way past their security. The best way to prevent these attacks is to be aware of their methods and to utilize security software that is kept current. 

EPIC Mission: Guiding the heroes of change.

5 Ways to Grow Yourself as a Leader

6/2/2017

Becoming a business leader is not about having a title. In fact, many times the ​​true leader in any group is not always the person with the most senior rank, title or position. Not only is it never too early to start developing good leadership skills, it's also never too late. Some of the most established business leaders are still learning and growing on a daily basis. Here are 5 ways to grow yourself as a business leader.


1. Never stop learning

Whether you call it sharpening the saw or lifetime learning, the best leaders never stop pursuing their own personal education. There are very few great leaders that are not conversant on a wide variety of topics and educated in a broad number of fields. This may take the form of traditional or online formal education, or nanodegrees focused on specific skills. In addition to developing skills that can propel your business forward, actively learn about yourself as a person and as a leader so you can better play from your own strengths. Find a coach and a mentor who can give you honest feedback about your personality and leadership style.


2. Take the jobs that no one wants

As Simon Sinek says in his book Leaders Eat Last, “It is not the genius at the top giving directions that makes people great. It is great people that make the guy at the top look like a genius.” Too often, people think one of the perks of being boss is being able to take on the most cherry assignments and delegate all the less desirable tasks to their underlings. You don't have to always save all the worst jobs for yourself, but assigning plum tasks to your subordinates and taking less desirable tasks for yourself on a regular basis will gain you a far more loyal following. Lead by example, and be a servant leader.


3. Understand every job in the company

Too often, businesses are compartmentalized with one department having no idea what the other one does. This makes it very hard to function efficiently as one unit. As a leader, it's important to have a firm grasp on what the job of every individual in the company is, how that job contributes to the overarching task of each individual department and how each department contributes to the company as a whole. If possible, learn which personality profiles correspond to success in different roles, so you can better profile candidates for those jobs. Of course, you will only be able to answer that question if your business has a unified mission at the core of its operations.


4. Put People First

Leaders don't lead companies they lead people. Meeting the needs of employees can often seem to cut into profits. Conversely, however, employees that are well compensated often far outperform employees that are under compensated. Treat your employees well and they will treat your customers well. Nothing is better for business than happy customers.


5. Stay Humble

Most businesses are hierarchical and while this does have some advantages, it can also lead to some people feeling they are better than others, or don’t need to listen to others, because they have a better title or higher rank or position. Always keep a firm grasp on the fact that being above someone in the organizational pyramid doesn't actually make you a better or more important person than them. As you rise through the ranks, your intellect should swell but not your head. 


Like the old saying goes, if you think you're a leader but no one is following you, you're just out taking a walk. Anyone can give you a title - including yourself - but only the people you seek to lead can actually make you a leader. Sitting behind a desk issuing commands doesn't make you a leader. Setting an example, growing yourself, and growing your team are the essential elements that truly makes you a leader.

EPIC Mission: Guiding the heroes of change.

How to Hire the Best Employees for Your Startup

6/5/2017

As far as business management is concerned, learning to hire the right people for your startup is one of the most important things you need to do. Unless you plan to run your business alone, the people you hire will play a major role in the results that you can expect from your effort. As long as you hire the right people for the job, your team will take your business to the next level, and you will know that you are moving along the right path. The following information will show you how to get started with confidence and peace of mind.


Write Detailed Job Descriptions

When people launch startups and start looking for employees, they often make the mistake of not writing detailed job descriptions to let potential employees know the job expectations. Falling into this trap will make the hiring process more difficult than it needs to be, because you will have to let people go and repeat the process until you find a good fit for the position. To avoid that situation, list the requirements and nature of each position as clearly as possible.


Consider the Whole Person

Make sure that the people you hire fit in with those already on the staff or team. One way you can do this is by adding a personality assessment, like the DiSC profile, to your hiring process. It could be part of the application or you could place it as one of the final steps of the interview process, to weed out the last few candidates who don’t quite fit. StrengthsFinder is another useful assessment that finds the strengths of your applicants or employees. Knowing this can help you place your employees to benefit your business the most. By using these types of skills and personality assessments, you can build strong, cohesive teams.


Leverage Social Media

Social media platforms like Facebook and LinkedIn are great resources for those looking to bring the right people on board. You can create ads, targeting them to people employed and/or looking for jobs in your business’ industry. You can also reach out through your network of contacts (like on LinkedIn) to look for potential recruits.


Sell the Position

If you want people interested in your positions, it's important that you highlight the main benefits people will enjoy by joining your team, like paid time off, employer contribution matches to health savings accounts, relaxed dress code, or the culture of the team/company. Take some time to consider what you have to offer to your employees and pitch those attributes to potential applicants. This will entice more candidates to fill out applications.


Encourage Candidates to Ask Questions

Finding people who will enjoy working for your startup and stick around for years is one of the best ways to succeed. Unfortunately, not every entrepreneur knows how to find that drive in their applicants. When you interview candidates, don't just ask them questions about their qualifications and why they want to work for you. Those things are important, but by inviting your candidates to ask questions about the position and the company, you’ll learn how interested they are in the position and can assess your candidates better.


Final Thoughts

Hiring people who will contribute to your bottom line and want to put in their best effort is not always easy, but following a proven plan will improve your odds of success. Finding the perfect candidates is the foundation on which you will grow your startup and optimize your profitability.

EPIC Mission: Guiding the heroes of change.

5 Options for a Struggling Business

6/6/2017

Many businesses run into rough patches, but some financial issues are easier to overcome than others. There are various resources and options available for business owners to use when they run into money issues. Because each situation is unique, the business owner should carefully analyze the situation to determine the best course of action.


Apply for a Loan

If your financial situation is related to several unexpected expenses that have piled up or to an unexpected slow period, applying for a small business loan may make sense. However, you should reasonably be able to see the slow period improving before you apply for a loan. Keep in mind that a loan requires you to make regular monthly payments, and this means that your total expenditures will increase for several months or years.


Get an Advance on Accounts Receivable

If your business is struggling financially because of slow payments from customers, getting an advance on accounts receivable is a good option to consider. You will need to pay a fee for this benefit, but you can receive funds necessary to pay your own bills in a timely manner. Because this issue likely will continue, you may need to find a way to improve your billing system. Improving your billing system will prevent you from relying on expensive accounts receivable loans.


Take on a Partner

There are some instances when your business is struggling because of your lack of expertise in an area or your inability to handle all of the tasks that need to be done. In some situations, it makes sense to take on a partner or investor. The partner may provide funding to smooth your financial situation as well as knowledge or assistance in specific areas.


File for Bankruptcy

Filing for bankruptcy is a worst-case option for your business to consider. It will clear your debt balances and give you a clean slate to start with. Some businesses will collapse after bankruptcy, but others may thrive. It is wise to speak with a bankruptcy attorney about the pros and cons of this option in detail before making a decision. When determining the fate of your business, consider if wiping debts away will resolve your issues or if you are operating in the red.


Alternative Options

Other options include reviewing expenses to trim the fat, reviewing operations to improve efficiency (time is money), selling off company property, discount prices/ run a sale to generate short term revenue and to increase brand awareness. These are just a few options that are much less drastic than bankruptcy.


Business owners have many financial options to consider when profits take a nosedive. As you can see, some of these solutions are more well-suited for specific situations and events than other. Take time to analyze the cause of your financial challenges, and determine if the issue likely will continue before you decide how to proceed. It might even be in your best interest to hire a business coach to help you figure out the best way to resolve the situation. They provide focus, perspective and the skills necessary to make your business practices more effective.

EPIC Mission: Guiding the heroes of change.

4 Tips to Move Up in Your Field

6/12/2017

There is no doubt that there are certain life lessons that stand us in good stead in every area of our lives. Many times, the qualities that help us maintain stellar business relationships can also help us in our personal lives and vice-versa. In that same way, no matter what field you are in, there are certain habits, disciplines and practices that will almost universally help you succeed. 

Here are 3 tips to help you excel in your given field, no matter what it is:


1. Work hard

No matter how many times our parents, mentors and business gurus emphasize this concept, it still seems to be somewhat revolutionary. Hard work will get you farther in life than talent, privilege, education or any of the other tools or trappings of success. Working hard doesn't have to mean putting in 80 hour weeks or sacrificing your health for the sake of work, but it does mean applying yourself consistently day in, day out, year after year.


2. Play fair

While life may present many opportunities to move up the ladder more quickly by cutting corners, it is almost never a good idea to do so. Those that do often reach the top to find they are standing on a very weak and unsteady foundation. The fall from grace is a long and painful one, make sure as you climb the ladder of success, you are building a firm foundation beneath you as you go.


3. Keep learning

Many people live under the misguided assumption that once they graduate a certain level of schooling, they will know everything they need to know to make it through the rest of their life. In reality, the world around us is constantly changing as new advancements and new discoveries are made. To keep pace, we must keep up - which involves constant learning, study and exploration. Working adults, especially nurses and other careers that involve long hours, it can be hard to imagine returning to school. That’s why schools have begun offering online courses. For example, online courses give anyone wishing to continue their education, the ability to work while pursuing a higher degree.


4. Develop A Relationship With A Mentor

In the employment world, there is the saying that ‘it’s all about who you know.” Developing a relationship with someone who has experience and knowledge that you can apply to your job and career is extremely important. It is a way to establish trust, confidence and work ethic as well as gain a reference. Having a relationship with a mentor is not only beneficial to the employee. It is also beneficial to the employer and the person doing the mentoring.


Success in any area of life is generally dependent on a few key principles. Generally, adherence to these principles will bring about success no matter where you apply them. By working hard, playing fair and always continuing to learn, you will inevitably end up at the top of your field and the top of your game.

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