Is it Time to Change Your Business Model?
Change is inevitable, and your business model needs to be flexible enough to adapt as your market changes. As the business environment shifts, so too must your business. Many variables can affect the market, such as introduction of new technology, government regulations, competitors, and more. In response, you should adapt your business model to reflect the changing world in which your business exists. There are three main signs that it is time to change your business model: 1. Your clients have shifted their business to your competitors 2....
read moreTips on Starting a new Small Business
When building anything, you always want to start with a strong foundation. Creating a new business is similar to building a new house; it’s wise to start from the ground up. Research the need Before you can launch a successful business, you must make sure that what you are selling is in demand. Whether you’re offering a product or a service, there must be a need for what you have to supply in order for you to profit. Research is key for any new business, as it is the only way for you to determine if and where the market for your business...
read moreYour Website Is One of Your Most Important Business Tools
Most successful businesses these days have a website, even those that service only certain geographic areas. On the web, where the marketplace is global, localized businesses can actually be at a great advantage. Let’s use a car cleaning business as an example. The company only cleans cars in a specific city, yet wants to use their website to generate more business. Time and money is invested in marketing the site in the search engines, paying particular attention to marketing the site for the specific geographic region that the service...
read moreWhat’s a niche and how do I find one?
According to Wikipedia, a niche is “a special place within the scheme of things.” Niche marketing is defined as “the process of finding and serving small but potentially profitable market segments and designing custom-made products or services for them.” So it’s all about finding your special place – and the products and services that fit. Right from the start, you should understand that your goal in discovering a niche is to concentrate on the most precise, concise, and focused concept possible. The more you narrow your focus...
read more4 tips for creating small business success
Owning and maintaining a successful small business has its challenges, but if you are open to learning, personal growth and hard work you can create an amazing business that ensures the stability of your future. Here are 4 key elements to consider: 1. As a small business owner you have to wear many hats, especially when you are first getting established. When you’re first starting out, you are not only chief executive officer but also your own accounting, marketing, human resources, and information technology departments. For...
read moreWill Your Small Business Story Have a Happy Ending?
There is no question that as a small business owner you have persevered and worked hard, dedicating your life to the success of your company. That being said, don’t you think that a company you put so much energy into deserves the chance at a happy ending? Have you considered the impact your death, disability, retirement, or even divorce could have on your small business? If you are the owner of a small business it is time for you to start thinking about what could happen in the future and protect yourself and your business with a succession...
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