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Articles written by Mike Demott

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Learn from the ‘greatest generation’

We watch a lot of old movies in our house. It is more common to see something black and white on the television at times then something in color. I honestly believe that I’ve seen more movies from t...

 

The ‘average’ millionaire’s lifestyle sets good example

I remember the time I met my first multimillionaire. I was working in a financial planning office, and our biggest client was coming in to the office. We had several clients who had a million dollars...

 

Taking care of yourself is good business practice

Running a business can be a hard job. You will often work well over 40 hours a week, deal with customer/employee issues, manage multiple priorities, and be expected to be available for your family...

 

Sound strategies to get the best from employees

Employees and business owners are often times very similar to parents and children. Seldom do we see eye to eye, and often we think the other has no clue what we are trying to get across to the other....

 

The 80/20 rule in business plays out in many ways

Odds are most of you have heard some version of the 80/20 rule. The general concept behind this rule is that 80 percent of your revenue comes from 20 percent of your customers. The actual percentages...

 
 By Mike Demott    Opinion    August 3, 2011

How to properly finance a business

The concept of “proper debt structure” is an important topic for most financial professionals. A business with poor debt structure is often described in lending circles as being “misfinanced...

 
 By Mike DeMott    Opinion    July 27, 2011

What is your business time worth?

Your time is valuable: how much are you worth to your business per hour? How would you figure this out? I was recently working with someone who was trying to decide if they should hire an employee to...

 
 By Mike Demott    Opinion    July 13, 2011

Set your financial GPS with planning

I think most of us know the importance of setting goals and coming up with a plan to achieve those goals. However, in practice most people set some sort of goal but often fail to really plan out how...

 
 By Mike Demott    Opinion    June 15, 2011

Your small business financial resume

Applying for a loan is a lot like applying for a job. Both require that you have adequate history that will give the interviewer/lender a reason to believe you are the right choice over the other appl...

 
 By Mike Demott    Opinion    June 1, 2011

It’s still important to advertise your business

Don’t stop advertising. Most businesses should always be looking to attract new customers and keep existing customers coming back for more. It is pretty hard to accomplish these goals without some...

 
 By Mike Demott    Opinion    May 11, 2011

How many products do you need to sell?

This is a common question I find myself asking both existing businesses and those looking to start a new business. For example, let’s consider starting a new business selling milkshakes. To keep thi...

 
 By Mike Demott    Opinion    April 27, 2011

You’re unique, like everybody

Your business is special—but not that different: there are more similarities among businesses than differences. Hopefully that first sentence gets your attention and peaks your curiosity enough to...

 

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