February 2016 Archives

Making sure a business idea is a good one

When Illinois entrepreneurs decide to start new ventures, they may have an idea of the type of business and product or service they believe they will be trying to sell. While it might appear to be easy to come up with an initial idea, it is important for people to make certain their idea is one that is actually viable.

Commercial real estate growth projected for 2016

Illinois investors who want to try their hands in the commercial real estate market should be interested to know that some commercial property financiers believe 2016 is set to be a promising year. According to Walker & Dunlop, an alternative lender known for going head-to-head with bigger financial institutions, its investors can expect growth due to gains in mortgage banking activities and the steady value of its own stock.

Entrepreneurs should not act solely based on projections

A common error made by Illinois entrepreneurs involves them getting ahead of themselves and acting according to the growth projections they have made in their business plans rather than on the actual business realities they are currently experiencing. While making projections is an important part of the business planning process, immediately acting upon them without waiting to see the direction in which the company is going can be very problematic.

Disaster contingency plans for entrepreneurs

Illinois entrepreneurs are sometimes called upon to deal with natural disasters and weather events such as flooding, winter blizzards and even earthquakes, and having an effective disaster recovery plan in place could make the difference between remaining in business and folding. Many business owners have contingency plans designed to contend with temporary power outages or unexpected weather issues, but they sometimes fail to adequately prepare for problems with technology and digital information.

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