“I have an egg production business. Lots of eggs are broken every day at the time of collection. What should I do with the broken eggs? How do I use these broken eggs to start a new business and what business should I start?” — I’ve never met a business owner who doesn’t hate losing money. With all the time and effort you put into getting your final product, losing potential earnings at any stage can be annoying at best and ruinous at worst. Egg production is especially prone to these kinds of losses with…

“I want to start a mobile barbershop. But the cost is too high without a loan. And even if I am able to start one, I will have too much overhead cost. Should I abandon this idea?” — Starting a business can be a pretty difficult task. Aside from the legalities associated with registration, there are other requirements that naturally need to be met before you start operations. These can include anything from the purchasing of equipment to the hiring of staff, or sourcing of raw materials —…

“When should I fire a problem customer and how do I stop them from badmouthing my business online?” — This is an interesting and important question that many business owners don’t take the time to consider. As with any relationship, there are situations in which parting ways may be the best step forward. Even in business where it’s assumed that the first priority is always to acquire and retain…

“How do I continue to connect with customers if my business has to remain temporarily closed during this pandemic?” — The COVID-19 pandemic has changed a lot about our way of life in a very short time, and few have struggled with this adjustment more than small businesses. Though we are well into the technology age where online shopping is the norm, in the United States, brick and mortar sales…

“I am entering the book publishing industry. All of my potential clients will be multinationals, how should that change my startup and its approach to intellectual property?” — Intellectual property and the laws that govern it are about giving creators of intellectual work an incentive to be creative by protecting their creation from infringement or imitation. This is the basis of copyright, trademarks, and patents, but also extends to general confidential information and trade secrets. The publishing industry…

“My business needs to grow drastically in order to become competitive. We were recently given the opportunity to acquire a smaller rival, but we do not have the necessary capital. Should I take a loan?” — The question of if you should take a loan depends on many factors. Loans can be very useful tools when the need for new capital is immediate. Especially in times of economic downturn like the one we’re currently experiencing, small business loans are not just offered but encouraged in order…

“How do you best generate awareness and grow users organically for B2C startups?” — The question of how to generate awareness and grow users is as old as business itself. Just as converting your first customer can be a difficult task for any budding entrepreneur, maintaining growth may require significant effort even with established businesses. In business, the sales funnel is used to describe…

“How can I improve my value proposition statement for a fruit and vegetables dehydrating business? It currently says ‘High quality shelf-stable nutritious ready to eat dried fruits with no sugar added’?” — You’ve got a good start, but this isn’t a value proposition statement quite yet. A VPS is, in essence, a quick statement describing the unique value that your business offers.¹ For example, Uber describes itself as “the smartest way to get around. One tap and a car comes directly to…

“How can I get new business ideas in a small or medium-sized enterprise?” — Idea generation can be a difficult task for any entrepreneur. It often seems like every profitable idea and business opportunity has already been thought of, and the truth is that it’s quite possible. However, we live in a constantly changing world, and an opportunity that may not have existed a…