by Willard Michlin, CPA

Being able to trouble-shooting a problem is an art that must be developed, though there are those who think they are naturally good at it. There are a very small number of business schools that actually train you in the art of doing this, I only know of one-The Hubbard School of Business Administration in Hollywood California.

Trouble-shooting means to find. "What is really causing the trouble, of some problem or situation?" Another way of looking at this is "Why does the problem exist?" "What is the source of the problem?" When you find the basic cause of a problem, it usually can be corrected with a step-by-step plan of attack.

The most interesting thing about trouble-shooting is that it is almost impossible to do when you are too close to the problem. That is because when you are very close to a problem you are emotionally involved with it and cannot see the obvious. This causes the problem to continue despite all your best efforts to solve it.

Willard Michlin  is a CPA and the founder of Evaluate A Business.com. He learned his craft from 20 years as a California Business Broker and, 35 years as a California Real Estate Broker.

Due Diligence Defined: The phrase is composed of two words.  Due, which the dictionary defines as "proper or adequate", and Diligence, which is defined as "Degree of care or caution expected of a person. Especially as a party to an agreement." Caution: is the watchword in this definition.