Guest Opinion: Mistakes are the best teacher

Recently an old friend I had not seen for a couple of decades told me about some troubles she had and how she had overcome them.

Later I thought about how much more useful her story was than all those holiday letters I get every year chronicling the new house, junior’s new doctorate degree or the round-the-world trip my friends just finished.

The same is true in business.

Guest Opinion: A GPS for business

The views expressed in Guest Opinions are those of the author and do not represent BizSense or BizSense reporters. Have you ever started out on a long trip using a set of directions from Google or MapQuest and found yourself off the path or found that the road was closed? Once that happens, your only choices are to retrace your steps or stumble along, hoping to get back on track. Many growing businesses face the same situation in today’s uncertain economy. They know where they are, and they know where they want to be, so they develop a business plan that provides great directions to their destination. But somewhere along the way, they run into a roadblock or take a detour, and their business plan is no longer as useful.

Guest Opinion: Let’s make a deal

Buyers and sellers seemed to have swapped scripts. When the economy was growing, it was the seller who wanted to focus on the last year and use trends to project future performance. Today, the tables are turned and the buyer is more likely to point to the last 12 months and to expect a “haircut” on price. They may also mention the economic uncertainty and use that to lower their offering price. And for all sorts of companies, that means there’s a real emphasis on flexibility right now. Fortunately, both buyers and sellers seem to have gotten the memo, and deals are still getting inked, which means businesses are still growing.

Guest Opinion: How full is your glass?

We all know people who see the glass as half-empty and others who see it as half-full. In today’s small business lending environment, the business owners and financial officers  looking for funding seem to fall into the first category, while bankers and other lenders have the latter view. But they agree on one thing: No one is happy.

Guest Column: The late-payer dilemma

Collecting accounts receivable is a challenge for businesses even when the economy is booming. Today, it has become a matter of life and death for some businesses. The other day, a business owner told me, “In this economy, the only choice you have is to cut them off!” But it is a lot more complex than that. One business might have three large customers. Another might have 4,000 small ones. One has to buy and pay for raw materials months before they sell a product. Another receives payment for a product before having to pay for it.

Op/Ed Six reasons it’s a good time to sell a business – and why you shouldn’t care

A question I often hear from business owners: “Will 2009 be a good time to sell my business?” They are wondering whether the market for business acquisitions has suffered the same pummeling that the real estate market has experienced.  Are things so bad that they shouldn’t even consider selling their business this year?

Op/Ed The Outlook Calendar Index is Improving

It might not be the kind of economic indicator that is quoted in the Wall Street Journal, but I think my appointment calendar for the past few months suggests some interesting trends.

Op/Ed: Boomer businesses blindsided by recession ask, “What’s next?”

Editor's note: The views expressed in Friday Op/Eds are those of the writer and are not RBS. Last summer I met with the owners of a local business to discuss ways to grow. They had just finished their 15th year of modest but steady growth in sales and income. Some recent successes had given them confidence in their business model, and they were considering investing in a full-time marketing person.