STREET SMARTS  

"Street Smarts" columnist and senior contributing editor Norm Brodsky is a veteran entrepreneur who has founded and grown six businesses. In 2008 he sold CitiStorage, a document-archive business based in Brooklyn, New York, for $110 million. Along with Bo Burlingham, Norm has chronicled his entrepreneurial journey in his column in Inc. and in the book The Knack: How Street-Smart Entrepreneurs Learn to Handle Whatever Comes Up@NormBrodsky


The Rule of Three

Anticipating the torpedoes that can sink a deal  Read story


Selling My Company (Again)

I thought I cashed out. But then the credit squeeze changed my plans  Read story


Management Advice from Entrepreneur Norm Brodsky

Veteran entrepreneur Norm Brodsky answers readers questions about retirement, selling a business, and more.  Read story


Don't Let Outside Investment Threaten Your Success

Outside money is never "no strings." Some advice on how to expand your business without compromising what you've already built.  Read story

Sidestepping the Needy-Customer Trap

Company founders cultivate their customer base with great care. But there comes a point when it's best to delegate.  Read story

Do You Even Need to Form a Partnership?

Before you get into the nitty-gritty of contracts and cost sharing, ask yourself if you actually need a partner.  Read story

Let's Expand the Definition of 'Great Salesperson'

Entrepreneurs gripe that great salespeople are scarce. But the real problem is that most companies' concept of a great salesperson is too narrow.  Read story

Never Rush a Business Decision

If a potential partner pressures you to hurry up and decide, don't.  Read story

Why Job Creators Don't Like Creating Jobs

The bottom line is, well, the bottom line. Job creation will always be secondary to profit and the overall health of a business.  Read story

The Right Way to Hand Over the Reins

Bringing in new leadership can foster growth--when it's done with wisdom and discipline.  Read story

How Fast Is Too Fast?

To determine the right growth rate for your business, ask yourself some key questions.  Read story

The Right Way to Approach a Start-up

No start-up works out exactly as imagined. So it's important to go into it understanding that you're there to learn.  Read story

Can I Afford Another Employee?

It depends on your Cost of Goods Sold. Here's how to calculate it.  Read story

The Wholesaler's Dilemma

Should I start selling directly to consumers?  Read story

The Problem With Your Accountant

Tens of thousands of CPAs make a living doing returns for small-business clients. They're missing a great opportunity.  Read story

When to Cut a Customer

How much leeway should you give a client who's not paying his bills?  Read story

Partnership or S Corp?

One concern is taxes; another is protecting assets. What's the best way to set up your business?  Read story

The Difference Between a Mentor and a Consultant

How to find a mentor and what to expect from the relationship.  Read story

Knowing When to End a Partnership

Unfortunately it can take some time before you realize that a business partnership isn't built to last, and hopefully you have documents in place to mitigate...  Read story

The Upside of Having Setbacks

Every business has problems. To build a business, you need to learn how to love the process of solving them.  Read story

The Single Most Important Rule of Business

Entrepreneurs are great at meeting challenges with optimism--but sometimes that's not what the business needs.  Read story

How to Find the Perfect Acquisition Target

You know your business better than anyone else. So skip the broker--and do the homework yourself.  Read story

How to Stay Alive When Business Shrinks

You've used everything you had to keep going, but it may not be enough. Norm Brodsky weighs in on what to do next.  Read story

How to Handle Employee Sabotage

Not all employees resign gracefully. Some try to sabotage your company on their way out. Here's how veteran entrepreneur Norm Brodsky deals with it.  Read story

Buying a Business? Expect the Unexpected

If you're considering buying a business, consider veteran entrepreneur Norm Brodsky's advice first.  Read story

How to Deal with Late Payments

When times are tough, customers take longer to pay their bills. You can count on it. Veteran entrepreneur Norm Brodsky says that's the wrong time to start th...  Read story

The Commodity-Pricing Trap

Norm Brodsky advises on how to avoid the race to the bottom.  Read story

Do You Need a Business Broker?

When buying a business, what's the going rate for hiring a broker, and who is responsible for paying it?  Read story

When Is It Time to Throw in the Towel?

Giving up isn't something that comes easy to entrepreneurs, but sometimes, giving up might just be the best move.  Read story

Norm Brodsky on Weighing Prospective Clients

How much time is too much time for a small-but-growing company to spend talking to and preparing estimates for prospective clients?  Read story

Norm Brodsky on the Right Way to Reward Top Employees

When you have a stand-out employee, is increasing pay and benefits enough?  Read story

Norm Brodsky on the New Breed of Entrepreneur

If nine out of 10 entrepreneurs are starting Web-based businesses. Is that trouble?  Read story

No Vacancy at the Hotel Brodsky

By the time Norm's new hotel opens, it will have been booked for the next three years, and therein lies an important lesson for any entrepreneur.  Read story

Keeping Peace in the Family

The best way to avoid bickering over family ownership of a company is to put everything in writing early on.  Read story

Making a Smooth Transition When Buying a Business

How can you retain a great company culture when forcing an ownership transition?  Read story

Entrepreneurs: Leash Your Optimism

Even in tough times, entrepreneurs are incurable optimists. But too much optimism can blind you to the obstacles ahead.  Read story

Norm Brodsky on Overcoming Your Fear of Competition

Norm Brodsky says that buying a business to stifle competition is never a good move. Spend the time and money improving your own business.  Read story

Norm Brodsky on Dealing With Picky Customers

What should you do when customers insist on working only with you?  Read story

Norm Brodsky on Identifying Outstanding Salespeople

Good salespeople focus on the particular feature the customer cares about.  Read story

Being Prepared When Things Go Wrong

What’s the best policy for raising prices to offset the cost of materials?  Read story

When to Change Your Business Model

If a competitor offers its product for free, should you do the same in hopes of increasing market share?  Read story

Keeping Your Company Healthy

A balance sheet is like a thermometer that provides a reading on the health of your business. Ignoring it could be fatal.  Read story

Prospecting for Black Gold

Norm’s next big move: opening a hotel in North Dakota  Read story