New Mexico is moving up in the ranks of states for millennials to live, according to WalletHub—all the way from last place to second to last place! The penultimate spot does not tell the whole story, though. Albuquerque is a pretty great place for millennials, in fact. The low cost of living, proximity to gorgeous outdoor scenery and recreation, and rich culture contribute to a high quality of life. The burgeoning film and tech industries are...
Santa Fe and local hospitality businesses are basking in love this week thanks to the voters in Condé Nast Traveler’s 32nd annual Readers’ Choice Awards. Based on survey responses by 600,000 people, The City Different is Number 2 on the list of Best Small Cities in the U.S. (after Charleston, S.C.). Inn of the Five Graces and La Fonda on the Plaza were Numbers 1 and 2 on the list of Best Hotels in the West,...
Millennial Retirement Plans (Hashtag!) Last week, the trending hashtag #MillennialRetirementPlans shone a darkly funny light on the despair many millennials feel regarding their financial futures. This generation (born from around 1981 to 1996 depending on the definition) has faced its share of economic challenges. The 2008 crash hit many millennials with the triple whammy of skyrocketed healthcare, student loan debt, and a dearth of paying jobs and wage stagnation. Their average net worth is less than...
Albuquerque was recently ranked America’s ninth most affordable city by Move.org. The comparison of 75 major U.S. cities considered the following factors: Rent for a 1-bedroom apartment Utilities (electricity, water, etc.) Internet Gasoline Food (groceries plus occasional restaurant meals Rounding out the top ten were El Paso, TX; Lincoln, NE; Toldeo, OH; Wichita, KS; Louisville, KY; Tulsa, OK; Memphis, TN; Lexington, KY; Albuquerque, NM; and Mesa, AZ. The top five most expensive cities were San Francisco, CA; New...
In more #AlbuquerqueAscending news, economic development and media company Livability lists 11 reasons why ABQ is the perfect place to do business. "The Southwestern city is witnessing an entrepreneurial renaissance with the help of startup-friendly culture, excellent universities and a great cultural scene for that ever elusive work-life balance. Albuquerque’s tech scene is so vibrant that even Facebook is setting up an outpost in the area, and the city has seen a nearly 10% increase in...
Tumbleweeds, an early and mid-childhood development magazine loved by parents and educators, is now on the market. Long-time owner Claudette Sutton is ready to move onto her next projects after decades of growing the publication into a staple resource for northern New Mexico families. Listed at $95,000 with a cash flow of $50,000, this home-based business allows for a flexible, part time schedule and engagement with a passionate, grateful community. The publication enjoys an established advertising...
Albuquerque ranks in the top ten large-size metro areas in the country for economic development potential, according to site selector publication Business Facilities. It’s a great time to buy a business in Albuquerque—or sell a business and move on to the next Big Thing! Albuquerque was ranked ninth. Topping the list were Atlanta, GA and San Antonio, TX. In a recent Albuquerque Business First article, reporter Collin Krabbe writes: "'Albuquerque has a foothold in very high-tech industries,’...
If you are preparing your business for sale, you need to start to think like a buyer. Customer concentration is a red flag to potential buyers. A company with more than 15 percent of its revenue dependent on one client is vulnerable. That client might leave shortly after you sell your business. A buyer will recognize this risk. Follow these tips to minimize risk for the potential buyer and better position your business to sell...
Leadership Santa Fe helps up-and-coming leaders develop high-level management skills and connects them to key players in Santa Fe’s business and policy spheres. Participants delve into challenges facing the city and actively engage in the process of creating solutions. The program takes place every year between September and May and consists of 12 sessions, about two per month. Alumni include Santa Fe City Manager Erik Litzenberg, Police Chief Andrew Padilla, and multiple City Council members...
Do You Need a Business Valuation? Whether you’re buying or selling a business, a business valuation is a necessary step in the process. You might be more familiar with the term "business appraisal." These two interchangeable terms describe a complicated process used to determine what a business is worth. There is no "cookie cutter" way to do this. There are different types of business valuations for different circumstances. There are some circumstances where a formal valuation is needed. In other...
A lot of people know the symptoms: feeling overwhelmed, unworthy, overly lucky, terror at being “found out.” If you’ve wrestled with Impostor Syndrome, you know the struggle is real—even when your lack of qualifications isn’t! Impostor Syndrome is a pervasive sense of self-doubt, a belief that one’s successes have not been earned. While this insecurity can strike at any level of professional experience, research indicates that it is more common when starting a new endeavor, such...
Strong showing, New Mexico! Santa Fe ranked 14 in Travel + Leisure’s 24th reader survey of Top 15 Cities in the World and got second place for Best Cities in the United States. Taos ranks 12 on the Best of the U.S. list. “Readers rated cities on their sights and landmarks, culture, cuisine, friendliness, shopping, and overall value,” T+L explains. New Mexico also got three of ten Top Destination Spas, and Santa Fe’s Inn of the Five Graces...
Finding the money to start your own small business can be a challenge. Over the decades, countless people have turned to the Small Business Administration (SBA) for help. A recent Inc. Magazine article, “Kickstart Your Business Dreams with SBA Lending,” by BizBuySell President, Bob House, explored how SBA lending can be used to the buyer’s advantage. The article covers the basics of an SBA loan and who should try to get one. House notes that the...
It’s normal to think about interview etiquette when you’re going up for a position, but what about when you’re making the hiring decisions? In a recent Wall Street Journal article, reporter Sue Shellenbarger points out the significance of employer conduct during the selection process. It is important to think about how you treat potential employees. We all know the feeling that there aren’t enough hours in a day. With a small business, you can't put everything...
“I can’t get good employees.” How often have you heard this from small business owners? Cultivating a good team is an essential challenge. Here are some tips for attracting and retaining good employees: Model integrity. Say what you’ll do, then do what you say. Always be respectful to employees and customers, even when you’re angry. People hear how you talk about others in moments of frustration and assume that's how you'll talk about them when they...
