What small business owners can learn from Angelina Jolie about making tough decisions

English: Angelina Jolie at the Cannes film fes...
English: Angelina Jolie at the Cannes film festival. (Photo credit: Wikipedia)

When Angelina Jolie found out how high the risk of breast cancer was to her personally she decided to be proactive and minimise the risk by having a preventative double mastectomy.

Jolie did her homework. She got the facts to make an informed decision. Consulting her doctors she confirmed that she carries a “faulty” gene, BRCA1 and her risk was 87 percent for breast cancer and 50 percent for ovarian cancer.

She did not backpedal on making her decision. She did not play it safe. She demonstrated courage by making a difficult decision.

Small business owners are faced with tough decisions in this uncertain and difficult economy. Tough decisions have to be made to ensure small business survival whether yours is a retail store or you act as an independent consultant.

Here are 10 tough business decisions that small business owners face in these rough times: Continue reading “What small business owners can learn from Angelina Jolie about making tough decisions”

5 ways your small business needs to tackle inflation – unless you’re the Great Gatsby

MV5BMTkxNTk1ODcxNl5BMl5BanBnXkFtZTcwMDI1OTMzOQ@@._V1_SX214_The Great Gatsby, or Jay Gatsby, the lead character in F Scott-Fitzgerald‘s novel, was a bootlegger. The new movie shows the millionaire protagonist living a lavish lifestyle but behind-the-scenes he made his wealth from selling illegal liquor during the Prohibition period.

Jay Gatsby would have made even more money in our present inflationary times. But commentators who have examined his criminal past say that bootlegging was a fairly low-margin business. The reason: he had to pay for bribes, lawyers and mob protection. It is also doubtful that he would have raised prices above all his many competitors.

Warnings of high inflation are coming from economists, business owners and consumer unions as the Rand got beaten to smithereens by the US dollar. It’s difficult always to make predictions about how fast inflation will grow but it’s best to take precautionary measures now than wait until your small business gets a kick in the stomach from inflation. Continue reading “5 ways your small business needs to tackle inflation – unless you’re the Great Gatsby”