Inventory Planning
This clip looks at ways to plan inventory levels so that there's not too much or too little inventory on hand at any given time. The ideal balance provides enough to satisfy customers, but not so much that there's an undo financial strain on the org...
Financial Statements
Study the two most basic financial statements of any business -- the income statement and the balance sheet
Finding the Right Supplier
This clip talks about the importance of an efficient purchasing and inventory control system. It also explores the relationship between entrepreneurs and suppliers, noting that there are several ways a supplier can help a new business owner, includi...
Buying a Firm: Due Diligence
This clip explains that, while purchasing a business can be a great opportunity, there may be problems lurking beneath the surface. For any prospective buyer, it's a good idea to do a thorough analysis of the company's financial and legal records, i...
Long Hours and Personal Sacrifice
This clip talks about the long hours and personal sacrifice that are often part of running a small business. It's not uncommon for the business owner to miss important family events because the demands of the business are so great.