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Staying solvent at your current level is the key to taking your business to the next level. 4-17-2017, Entrepreneur.com -- Your clients are not paying on time, computer problems need attention, and your most productive employee is giving signals that they need a raise. Late paying clients can be handled. Computer issues can be fixed. An employee who deserves a raise should receive it. You just need a plan. A great receivables employee can coax the slow-paying clients to deliver. Your IT manager can figure out what to do. The employee can be rewarded, sometimes in ways that don’t require large amounts of funding. How do you cope with all of these issues? Think about it. All of the concerns are really stemming from one problem that has multiple aspects. That’s right. You need more cash flow, but don't let urgency tempt you to consider plans that might be financially risky.   Find the backup plan you need. What you really need is money. Money really can solve most business problems. But, you don’t want to jump into something that can ultimately cause further angst. Consider a business line of credit. Although you may have thought of it and never applied for one, a business line…
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Forbes, 4-17-2017 -- Imagine driving through toll booths, drive thru restaurants and gas stations without having to fiddle around with cash and coins. The future is calling for a world in which payments are seamless and with the experimentation and the introduction of self-driving cars, your car being in sync with your bank account is where technology is heading. Imagine if your car was your wallet. Elon Musk’s Tesla has recently overtaken General Motors to become the most valuable car company in the US. According to Reuters, Tesla ended yesterday with a stock market value of nearly $51 billion which was $1 million more than GM. At the end of 2015, Juniper Research predicted that self-driving cars will take off by the year 2021 and there will be approximately 20 million vehicles on the road by 2025. With the emergence and rapid success of Tesla, these predictions could become a reality. However, Juniper ranked Tesla as the third most promising player in the driverless car market, below Google and Volvo, after being in development for the longest and having logged the most autonomous miles. I spoke to representatives from FIS and SAP to find out what technology they are working on…
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4-9-2017 -- Thanks to the growing popularity of the event, and great weather, the turnouts for the seminars on the opening day of KnowledgeFest were high, with many rooms filled nearly to capacity. Retailers, installers and sales staff were in high spirits, eager to make the most of this year's spring training experience.   This was showcased particularly well in Eric Carter's "Word of 'Mouse': Dealing with Social Media & Online Reviews" course when, due to a computer delay, he took questions from the audience, creating an instant rapport with the audience where the air of positivity and excitement was palpable. The course tackled the best ways to enhance and maintain your store's social media presence with humorous anecdotes and situational-based how-to's like how to handle a bad review when it was accidentally clicked by a happy customer.    Marcel Newell took retailers in a more serious direction by emphasizing how critical it is to budget every facet of your business to prevent unforeseen losses. The course, called "Budgeting Without Balding," took attendees through the specifics of creating and maintaining a budget, using it to measure their business performance and as a planning tool. One stand-out moment of the presentation…
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4-6-2017, Entrepreneur.com -- When talking about your business, it’s likely that at some point you’ve referred to it as your baby. But do you really love your business as if it were your own child? Researchers from Aalto University in Helsinki, Finland, decided to put this question to the test in a recent study. When examining the brain activity of the study participants, the scientists found that  “entrepreneurial love is strikingly similar to paternal love,” and that the parts of the brain that come alive when processing emotions, rewards and social understanding occurred with both.   The researchers scanned the brains of 42 men divided into two groups. Twenty-one participants were fathers ranging in age from 27 to 43 and 21 were entrepreneurs ranging in age from 24 to 45. Read the rest of the story HERE.
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4-5-2017, Mobile Electronics -- For any retailer, knowing the ins and outs of product can be the difference between making a large sale and watching their revenue walk out the door. Since its inception, KnowledgeFest has been an event that offers retailers a chance to brush up on product and service knowledge, for both the novice and veteran. Aside from the workshops, networking and Mobile Electronics Show booth reveals, anyone's 12-volt IQ can be enhanced even further with manufacturer trainings, which are taught by some of the biggest names in the industry.  Not to mention, there are plenty of goodie bags handed out. Companies offering training this year include Voxx Electronics, DD Audio, Omega Research & Development, Compustar and Alpine Electronics, among others. While most of the companies maintain a focus on specific products, there are some surprises mixed in, such as how products work with different vehicle models, bettering the customer experience with specific products or how to make installing certain products easier on the installer. New Innovations In an effort to promote the latest and greatest products that 12-volt has to offer, vendors will be going in-depth on the inner workings of their 2017 offerings. One such company…
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Find your groove with these habits that build courage and personal strength. 3-22-2017, Entrepreneur -- Anyone who has ever started a business has faced fear. A little bit actually can be a very positive catalyst. But when fear overwhelms your ability to make decisions, it can become paralyzing and leave you feeling stuck. That’s a sign you need to take action and restore the sense of confidence you once had. When we're young, we think we're invincible. We can do anything (just ask my teenagers!). Yet for many of us, that confidence and self-assurance erodes over time as we get older. We wake up one day confronted by thoughts we can't shake: “I can’t. I shouldn’t. I couldn’t possibly.” We start to question our choices and ourselves. We second-guess our gut instincts and overthink things. The stories we tell ourselves limit or enhance potential. Fear and self-limiting beliefs create imaginary boundaries that can keep us from acting in our own best interests. There's a reason: Our brains are wired to resist change. They will process anything we repeatedly think, say or do and formalize it into a habit. It’s easier for our brains to depend on habits because they don’t have to work as…
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