Business

A successful family business can provide long-term financial security for you as its owner, as well as for your loved ones. To improve the chances that your company will continue to benefit your heirs after you’re gone, take steps now to keep it in the family. Staying in-house Careful estate planning can ensure that a […]

Turning receivables into cash is among the most important things a business must do. Of course, it’s easier said than done. Here are five ways to speed up collections: Streamline the billing process. You can’t collect what you don’t bill. Invoice customers promptly — as soon as the product ships, if possible. Or, if your […]

We hate people. People we don’t know, people in big groups; we’re introverts. We appreciate the quiet, dread large networking events and consider our words carefully before we speak. We research a subject before offering an opinion, we’re willing to thoughtfully consider the opinions of others, and we develop long-term relationships. Can an introvert be […]

In Part 1 of this topic, we covered the definitions of leadership and entrepreneurial leadership, and listed qualities that business leaders share. In this post, we’ll explore how those skills help leaders to build their organization. How entrepreneurial leaders build an organization: As leaders are building an organization, these 3 questions may provide clarity: What am […]

What is Leadership? There are many definitions provided by leading experts. The dictionary.com definition is very simply the action of leading a group of people or organization. One of our local business leaders in Detroit, Nancy Schlichtling, CEO of one of the largest hospital organizations in the country, Henry Ford Health System, defines leadership like […]

My previous post discussed the advantages of working for a small firm vs. a large company – now let’s address the advantages of hiring a smaller firm. My experience is the the accounting world, but these points are true of most industries: You’ll likely have direct access to the owner or President of the company. […]

In the process of interviewing candidates for an open position at our firm, we encountered some misconceptions about working for a smaller firm, namely perceived limited opportunities, less structured training and uncertainty about the stability of a smaller organization.  We thought the advantages of working for a smaller firm were obvious (!) but here are just a few: You’ll […]

If your company is a corporation, you’re probably aware that your shareholders and Board of Directors must meet at least annually. For many entrepreneurs, the board and shareholders may only consist of a couple of people and this meeting requirement is regarded as an annoying formality. The main purpose of the meeting is to ensure […]