Learn from My Recent Mistake

Encore entrepreneurs and small business owners must limit their cash flow dependency on factors they cannot control. The sudden reversal of fortunes in the oil industry of late demonstrates how quickly a seemingly robust sector of the economy can suddenly fall upon hard times.

This is why its imperative for encore entrepreneurs and business startups to diversify their customer base, so that they are not excessively dependent on one segment of the economy doing well. Unwittingly I made that mistake myself by allowing too much of my new business to be vulnerable to the downturn in the oil patch.

Continue reading

Why Small Business Owners Burn Out

People start businesses with a dream of the freedom the business will give them. Then they find themselves a few years later frustrated, exhausted, and on the verge of burnout. One of the primary reasons that this happens to small business owners is that they never shed an employee mindset to assume an entrepreneurial mindset. Had they done so, they would have structured their time and their business much differently.

Continue reading