ND Small Business Development Centers
ND Small Business Development Centers

Powering the creation, growth, and success of small business in North Dakota.

Posts Categorized
Advisor Knowledge Base

Conducting a Mid-year Business Performance Review

Categories: Advisor Knowledge Base

Conducting a Mid-year Business Performance Review Conducting a mid-year business performance review is a great way to assess your company’s progress, identify areas for improvement, and make any necessary adjustments to achieve your annual goals. Here’s a step-by-step roadmap on how to do it: Define your objectives: Clearly outline the purpose and goals of the […]

Understanding Financing Options

Categories: Advisor Knowledge Base

Understanding Financing Options Understanding the lending process and program options is overwhelming and often unfamiliar for entrepreneurs. Even those more aware of the process can forget or ignore traditional funding sources. Setting a business up to be able to cash flow and build financial success often takes a multi-program approach. These considerations are relevant for […]

Time Management

Categories: Advisor Knowledge Base

I attended a presentation regarding Time Management. The presenter mentioned that there is no possibility that a person can and does multitask. The presenter goes on to say that a person does not do two things simultaneously. You don’t fold laundry while doing the dishes. You don’t read all computer screens at the same time. […]

Where have all the Employees Gone?

Categories: Advisor Knowledge Base

The best part of my job is speaking one-on-one with hundreds of business owners and employers about the hurdles they face. At the top of that list, the workforce continues to be a hot topic. Business owners are worried, and rightly so, because they are struggling to find qualified candidates. So where have all the […]

The Business Life Cycle

Categories: Advisor Knowledge Base

There are four phases in a business life cycle, and each phase presents excitement and challenges. As a small business owner, awareness of where their business is in the life cycle provides key insight into keeping the business healthy and avoiding detrimental decisions. Phase 1 – Start-Up This is the “Wonder Phase” due to a […]

Why Is Bookkeeping So Important in Your Business?

Categories: Advisor Knowledge Base

When becoming a business owner, many different areas will need to be focused on. The financial side is one of them, and an important one at that! Bookkeeping tracks and records your business’s financial transactions and is recorded based on your company’s accounting principles and documentation. Some of this documentation will consist of receipts, invoices, […]

The Importance of Developing Business Skills

Categories: Advisor Knowledge Base

Running a small business can be tricky. Owners often get caught up in running the day-to-day business and don’t prioritize time to work on the business as well. This is never a good idea. Spending time looking at how the business is functioning internally and externally is an important task that key decision-makers should routinely […]

Asking Difficult Questions

Categories: Advisor Knowledge Base

Business can be exciting and edifying but often challenging when getting into the details of starting, maintaining, and expanding. That’s why, in business, asking the right questions is paramount. Business owners are often so close to their ideas and passions that they lose focus on what drives their success. All businesses need creativity and enthusiasm […]

Workforce and Your Business

Categories: Advisor Knowledge Base

“How will I make my business operate if I can’t find employees?” is a challenge small business owners and entrepreneurs face as they build and sustain their businesses. In addition, how will they compete as small or new businesses in a very tight labor market? The United States had 10.1 million job openings as of […]

The Four Intangible Capitals

Categories: Advisor Knowledge Base

As we talk about business succession, there is, more often than not, a bank involved and is typically working with the buyer to obtain financing. We often hear about the 5 C’s of credit and how that impacts the buyer’s ability to obtain funding. However, there is also 4’C of Capital that the business has, […]