Issue: # 26October 2010
BusinessTalk Newsletter

Managing A New Business and How To It Right

An Interview with N. Michael Miller 

Successful Businessman, Venture Capitalist and Published Author Answers Our Questions in the Third Part of a Four Part Interview About Managing A New Business.


Business Talk Newsletter is conducting a four part interview with N. Michael Miller.  Mr. Miller is a business owner, venture capitalist and published author.  Mr. Miller can be contacted at which advises new business owners with consulting, business plan preparation and other services.


Mike w/glasses casual
Mr. N. Michael Miller

This interview will consist of four parts:

(1)    Start a new business now in this economy and the outlook for starting a business in early 2011 (in the Oct 14th Edition),

(2)    Funding the startup of a new business (In the Oct 21st Edition),

(3)    Managing a new business and how to do it right (In this Edition), and

(4)    Understanding how to keep a new business financially healthy (coming on Nov 4th).


Here is Part Three of our Interview with N. Michael Miller.


BTN: To recap the previous two interviews, we first talked about whether or not this is a good time to start a new business and you concluded that it is a great time to start a new business with the right pre-startup planning process.  We also discussed funding a new business.  You described several funding options along with the important emphasis that a new business must be well funded from the very beginning and some ways to make sure that happens.


Now let's discuss how to properly manage a new business.  Give us your overview of how a new owner should operate the business.


NMM:  How you manage a new business is entirely different if we are talking about a retail business or a service business or a professional type business.  So I will give you a general overview of what every new business owner should do in managing a new business.


I would break down what a business owner should do into these three topics:

1.  Always look to improve

2.  Record keeping

3.  Grow sensibly



BTN: I would guess that most business owners are looking for ways to improve.  How is this important to the new business owner?


NMM:  The basic idea behind continuous improvement is that there's always a better way, and never a best way.


By seeking out the better way, the small business owner can make significant improvements to quality, efficiency, employee satisfaction, customer service and ultimately the bottom line.


Whether you are in a retail, service or manufacturing industry, the cost of materials and labor used in your operation is likely to increase over time. As a result, any improvements that can be made in your process will result in savings necessary to offset increasing material costs. If your small business is to stay viable in the long run, you are going to need to embrace continuous improvement.





Earning More From Your Website

Clicks For Cash

By Michael Fitzgerald

Sure, your company's website brings in business, but it can also become a revenue generator in its own right. Using these free services, you paste a little code into your website and pick up revenue when people stop by. It's easy money, but proceed cautiously.  


Read The Rest Of This Article By Clicking Here

 Thomas G. Stemberg

Thomas G. Stemberg is an entrepreneur, venture capitalist and executive, most notable for founding office supply retail chain Staples Inc. with Leo Kahn.


In 1986 Stemberg and Kahn came up with the idea for Staples Inc. in response to frustration with small retailers that provided critical supplies. Stemberg previously had worked in the grocery store business at Star Markets. Stemberg noticed many retailers on Main Street selling ball point pens at $2 - $3 with a wholesale cost of just 30 cents and determined that the business could be profitable and reduce customer costs.


Read The Rest Of This Article By Clicking Here

For help in starting a new business or turning a business around, view the services offered by or call them Toll Free 877-211-6577
In This Issue
Managing a New Business and How To Do It Right
Earn More From Your Website
Tips from the Founder of Staples
Understanding the Economy
Quick Links for
Featured Website Article


the Economy

People worry that a recession is coming. But by the time one arrives, most economic harm has already happened.


Click Here To Read The Featured Website Article 


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