7 Tips for Starting a Successful Small Business
Getting a small business off the ground is challenging to say the least. Here are some tips that will help set a strong foundation for running a successful small business. 1. Have Goals This is where it all starts – goals are the foundation of success. Knowing exactly where you are heading is critical. What will your business ‘look’ like in the future? How will you know when it is a ‘success’? Develop a solid business plan that establishes your goals and maps out the action steps you’ll need to follow to run a profitable...
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read moreIdentifying a Competitive Advantage for your Business
Many firms believe modeling successful competitors’ strategies are the key to profitability. This can be a great approach as long as modeling is not confused with direct copying. What is the incentive for a rival’s customer to switch to you if you are exactly the same? Advantages over competitors and differentiation support success. As a new small or mid-size business, you need to identify the skills, products, and resources that attract your customers to the product or service you offer. This information allows you to develop a...
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read more4 Tips to Increase Your Sales in the New Economy
Small and mid-size businesses continue to face an uncertain economic environment. It seems that you continue to struggle, while other companies around you experience continued sales growth. There’s no denying: Selling today is more difficult than it was. It’s even more difficult to increase sales; Competition is increasing; The decision makers are higher up the corporate ladder; and Buying decisions take longer. Leading entrepreneurs get new customers no matter what the economic environment. Take a leaf from the successful companies’...
read moreHow to differentiate your business from your competitors
To stay ahead of your competition you need to adopt strategies that will differentiate your business from others with the same prospects. Successful businesses stand out from the crowd in these key ways: 1. They speak to a niche market Many businesses are afraid to narrow their target market for fear of limiting their customer base. However the truth is when you serve everyone, you actually serve no one. People are looking for service providers who specialize in solving their specific problem. For example you don’t want to be the...
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