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Saavy cash management can boost your bottom line

April 1, 2018

Learn the basics of savvy cash management to boost your bottom line. Cash flow—the amount of money flowing into and out of your shop—is an easy concept to understand, yet not always well managed. Not every owner is aware of the impact skillful cash management has on net income, probably because the importance of managing …

Why millennials don’t want to work for your business, and how to change their minds

December 1, 2017

The year was 2000. The start-up had outgrown the garage, relocating to a nondescript building in an office park. Outside that building, on an asphalt parking lot, employees played roller hockey. The games were full contact. Employees wore pads and would come back inside drenched in sweat and sometimes bloodied and bruised. Inside the building, …

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Attract and hire exceptional workers

October 1, 2017

In today’s improving job market, the very best job candidates—the ones who satisfy your strictest requirements—can afford to be picky when it comes to applying for a job. That’s why you need to be at your best when it comes to recruiting and screening candidates. There are a number of techniques that can help establish …

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Basics of job costing

August 1, 2017

Unlock your company’s growth potential by knowing the basics of job costing. The growth of the tent and event industry is truly inspiring. I’m in awe at some of the projects that get bigger and flashier as time has gone by. Not only is this a good thing—it’s a GREAT thing, as long as we …

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Don’t skip background checks before hiring

June 1, 2017

These days every new employee brings a possible threat to your business. The threats include theft, sexual harassment, physical violence, identity theft, fraud and drug use. The potential for ruinous legal actions is clearly higher today than ever before. That’s why a background check before you hire an applicant could save your business. However, it’s …

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Good people, bad choices

April 1, 2017

Even the most well-intentioned employees are vulnerable to slipping into unethical choices when their lives lack balance. Ask an average person, “Would you voluntarily do something that is unethical or illegal?” Generally, he or she will reply something like, “Heavens, no!” People naturally prefer to do the right thing. However, when faced with enough pressure, …

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When to say yes—and no—to new inventory

December 1, 2016

The economy is improving, tented events are on the upswing, and customers are spending more on decor and accessories such as sidewalls, doors, liners and drapes. This is good news for tent rental companies, because these items can bring a very good return on investment, says Scott Sutherland, president of Olympic Tent, a tent manufacturer …

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Hosting a showcase during the slow season

Everyone appreciates the time of year when things start to slow down. But after a recuperation stage, tent rental companies may find themselves twiddling their thumbs, waiting for clients to call. What do you do to drive business at these times? Many facilities host a showcase or an open house. This one event can offer …

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A succession solution in employee stock ownership

October 1, 2016

How to determine if an employee stock ownership plan is right for your company. An exit plan is generally not at the forefront of a company owner’s mind, especially at the height of career success, but it’s no less important than any other business strategy. When the time comes to step down, a comprehensive exit …

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Case study: Expanding from one location to two

July 13, 2016

Expanding a party and event rental business from one location to two ideally results in higher revenue, a bigger market share and more opportunities for the business and its employees. But every so often, the unexpected happens. Consider Jill Redmon, president of Montana Party Rentals in Bozeman and Wyoming Party Rentals in Jackson Hole. Redmon, …