Lets Grow Together

Managing a business and planning during an economic landscape of rising interest rates, inflation, and a possible recession is challenging. Patrick Novack, VP, Relationship Manager at Coastal Community Bank, talks to his customers regularly about the current economy and how to plan for the present and the future in the current uncertain climate.

“I talk to my customers regularly about their concerns about the economy,” Novack said. “It’s a real concern. I think that more business owners are just thinking, OK, how can I strategically position my business to weather events that may happen down the road.”

When having these discussions, Novack regularly recommends they think about liquidity, and their network of trusted professionals and reminds them the economy is cyclical and constantly evolves.

Liquidity

Novack explained that liquidity is a topic he regularly discusses with clients. “If you’re able to have more cash in the bank, you’re able to

“Leadership is not the ability to tell people what to do,” according to Cameron DeBoer of McLean & Company. Leadership is influence and empathy. Leadership doesn’t always entail having a title. It has more to do with actions. So what are the qualities of a leader?

Integrity: Integrity in leaders refers to being honest, trustworthy and reliable. Leaders with integrity act in accordance with their words — in other words, they practice what they preach — and own up to their mistakes, as opposed to hiding them, blaming their team or making excuses. They are transparent in their communications presenting an authentic, believable individual who generates enthusiasm and loyalty. They take the “high road” when addressing values-based decisions and therefore set the example for their team.

Having and sharing a vision: Leadership vision is the ability to concentrate on the most important aspects of self or business,

Some small businesses require a team. But it is possible to start your own company and run it as a solo operation. If you’re ready to start your own business and want the freedom and cost savings of a solopreneur, here are some ideas.

What is a Solopreneur?

Solopreneurs are small business owners who operate without additional employees. Some solo business ideas can be done with only one person, and other solopreneurs may outsource certain operations rather than hiring.

Solopreneur Opportunities in 2022

Becoming a solo business owner is an increasing popular option thanks to the popularity of remote work, outsourcing, and automation. Many solopreneurs take a business idea they’re passionate about and simply work on it in their spare time. Other businesses do require lots of time and planning, but entrepreneurs often rely on technology and outside contractors to handle any extra workload.

Why You Should Start Your Own

“We are grateful for this opportunity to scale up our support for young entrepreneurs,” said Elaine Chen, director of the Derby Entrepreneurship Center at Tufts and Cummings Family Professor of the Practice in Entrepreneurship. “This gift will help the center empower a new generation of entrepreneurs to realize their dreams, and their impact in society, through new venture creation.”

Tina Weber, program director for the Tufts Venture Accelerator and a lecturer at the Derby Entrepreneurship Center, said strategic investments will include broadening the array of experts who are central to the program’s success; she especially looks forward to bringing on board diverse mentors and instructors who will help reinforce equity and inclusion goals. Another impact of the gift is increasing the size of the grants awarded to students as part of seeding their ideas.

“Our job is to help nurture ideas,” Weber said. “With this new funding, we enrich all

If you’re a business owner, your primary goal (aside from providing your customers with quality service) may be to see your company grow. There are various ways you can potentially accomplish this goal.

In some cases, one way to help a business grow is by merging with another business. However, this can be a challenging process if you don’t have much experience with mergers and acquisitions.

Thus, if you anticipate merging with another company in the near future, you can ensure the process runs as smoothly as possible by keeping certain basic tips in mind. They include the following:

Define Your Goals

A merger can be difficult not only for a business owner, but for numerous other employees. People are often very protective of their brands and businesses. Some fear that merging with another business will have unanticipated negative side effects.

This is one of many reasons it’s critical