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Categories: Advisor Knowledge Base
By: Paul Smith, Fargo & SE Center Director Most business owners I’ve worked with know it’s vital to keep a pulse on the financial health of their business. However, many simply don’t have time to spend hours analyzing and interpreting numbers or haven’t developed a regular routine. Here’s a simple framework to help you track […]
By: Paul Smith, Fargo/SE Region Center Director The expression “cash is king” underscores the importance of having sufficient cash in a business to maintain financial stability. In fact, more than 80% of small business failures are attributed to cash flow problems. Without cash, a business can’t continue to pay employees, purchase inventory, cover recurring monthly […]
Categories: Advisor Knowledge Base
AI Tools Like ChatGPT and DALL-E Are Revolutionizing Business—Here’s How By: Paul Smith, Fargo Center Director Digital transformation was the theme of the recent America’s SBDC 2024 Annual Conference focusing on AI for small businesses. ChatGPT and DALL-E are among the most widely used AI tools today, and they represent just a fraction of the […]
By: Paul Smith, Fargo Center Director 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 […]
By: Paul Smith, Fargo Center Director No matter how much you enjoy working in your business, inevitably, there will come a time when you want to retire and/or sell your business. With baby boomers marching into retirement by the thousands, up to 70% of small businesses in ND are expected to change hands during the […]