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Archives for May 2018

Remember America’s militia on Memorial Day

May 28, 2018 by Jim Blasingame

Reasonable people disagree on the exact origins of what is now called Memorial Day. But most accept that the practice of decorating the graves of Americans who died defending their country began in earnest by women of the South during and following the Civil War.

On May 5, 1868, General John A. Logan, National Commander of the Army of the Republic, was the first to make Memorial Day official with General Order No. 11, which stated in part that, “the 30th day of May, 1868 is designated for the purpose of strewing with flowers or otherwise decorating the graves of comrades who died in defense of their country.”

Since then, other than Congress making it a national holiday and changing the date to the last Monday in May, America has honored its fallen heroes from all conflicts in pretty much the manner that General Logan anticipated with the language of his order, whereby “posts and comrades will in their own way arrange such fitting services and testimonials of respect as circumstances may permit.”  

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Filed Under: Leadership

I know what I was feeling, but what was I thinking?

May 20, 2018 by Jim Blasingame

“I know what I was feeling, but what was I thinking?”  

This title lyric of a country song by Dierks Bentley is about a boy letting a pretty girl get him into a whole lot of trouble on their first date. Of course, there’s often no accounting for the unintended consequences of affairs of the heart. 

But when those words are in the head of a small business owner, it’s due to an ill-advised decision that causes the proverbial winged sack of money to fly away.  

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Filed Under: Entrepreneurship

Should Mamas let their babies grow up to be entrepreneurs?

May 10, 2018 by Jim Blasingame

“Mamas don’t let your babies grow up to be cowboys.”

Country music fans recognize this title and opening passage from the Ed and Patsy Bruce song made famous by Waylon Jennings and Willie Nelson. If there ever was a honky-tonk anthem, this is it. 

Every good anthem has a hook lyric and in this song, it goes like this: “He ain’t wrong, he’s just different, and his pride won’t make him do things to make you think that he’s right.”

Wish I had a nickel for every time someone watched an entrepreneur doing what entrepreneurs do, and asked, “What’s wrong with him?” Well, entrepreneurs are a lot like cowboys—they’re not wrong they’re just different. For example:

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Filed Under: Entrepreneurship

Four business buying factors to keep in mind

May 6, 2018 by Jim Blasingame

Continuing my series on buying a business, here are summaries of four critical factors to consider when acquiring a small business.  

Old sellers are the best sellers 

One of the best opportunities to acquire an existing business is when you can buy one from an owner who wants to retire from a business that’s still viable. Two good reasons are: They’re less likely to change their mind before the transaction is complete, and they’re more likely to finance a larger part of the sale price to get monthly income. 

Notice I said, “still viable.” Sometimes the end of the current owner’s career coincides with the end of the life of the business. Don’t buy a business that should retire with its owner.

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Filed Under: Business Planning

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