2007 July
Published July 31st, 2007
It is very essential to understand the importing basics if you plan to begin international trade that requires importing something from foreign countries to your country. History of importing goes as far back as the beginning of trading because you have to get those goods and materials that are not available in the country where we are doing business. You may need to import a particular material, even if it is available in the country, when you can get it from another country at a cheaper price. Whatever may be the reason for importing, you must understand some practical aspects... Read more
Tags: Doing Business Internationally, import, International Market, shipping, Small Business Consulting
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Published July 31st, 2007
Randal Pinkett is best known for surviving Donald Trump’s scathing boardroom criticism on season four of NBC’s "The Apprentice" and impressing the billionaire real-estate mogul enough to hire him. But before that, Pinkett was known around his college campus at Rutgers as a student entrepreneur who juggled business classes with running a thriving CD business out of his dorm.
Now as CEO of BCT Partners, a Newark, N.J.-based consulting firm, the "Apprentice" winner hopes to use his experience to help other aspiring young entrepreneurs start and grow their own companies. We talked with Pinkett about his new book, Campus CEO:... Read more
Tags: advice, campus CEOs, National Federation of Independent Business, NFIB.com, Starting a Business, startups, student entrepreneurs, tips
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Published July 31st, 2007
Q: I am planning on opening my first business in the fall. Do you have any words of wisdom to share?
Elena
A: Let me share a story: I have a friend named Robin who studied dance for years and dreamed of opening up her own shop, selling ballet shoes, leotards, that sort of thing. Though she knew little about business, that didn’t deter her, and after raising some money, she finally became an entrepreneur.
At first, Robin stumbled, and had a very difficult time getting customers in the door. Then one day, she noticed that the large consumer electronics... Read more
Tags: advice, MrAllBiz.com, small business expert, Starting a Business, startups, Steve Strauss, tips
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Published July 24th, 2007
What type of Wholesale Business is the best for you? It really depends of many factors including what you like, your capital, abilities, time and more. You should start by deciding the types of products you would like to wholesale and distribute. To do this you can look at business models, pricing structures, and distribution options. Now, to start, you should just "look around" and find products you like.
Think of any product that you might have in your home right now. Chances are good that it went through the wholesale process unless it was made by hand and given... Read more
Tags: jorge olson, learnwholesale.com, Product Sourcing, source, wholesale, wholesale products
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Published July 24th, 2007
Do you have a product or service that you enjoy offering to grateful friends and family members? Perhaps you’ve been thinking lately that going professional would be a great way to earn some extra money, or even start your career as a small-business owner. While many successful businesses have been built on a hobby’s foundation, so have many failed ones. Here are a few precautions–and tips for proceeding if you decide this is the right move for you.
Precautions
Loving what you do isn’t enough
What are your reasons for wanting to turn your hobby into a business? If your... Read more
Tags: career change, National Federation of Independent Business, NFIB.com, Starting a Business, startups
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Published July 24th, 2007
Q: Steve - I always enjoy your inexpensive / innovative marketing ideas. Do you have a favorite?
Sharon
A: What surprises me actually is just how many different ways there are to market yourself or your business today. Whenever I give a speech or workshop that includes a marketing and branding component, I almost always end up learning something new from one of the attendees; something they have tried and used that I had not considered previously.
So while no, I don’t have a favorite per se, I do have a bunch of new favorites, such as:
YouTube: I recently... Read more
Tags: e-newsletters, expert advice, Marketing, marketing ideas, Marketing Your Business, MrAllBiz.com, small business expert, Steve Strauss, tips, youtube
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Published July 17th, 2007
Credit cards are a small-business owner’s best friend. They’re easy to obtain and convenient to use. More than one-third of small businesses use business credit cards (also called "corporate cards" whether or not the business is organized as a corporation) and nearly one half of small-business owners use their personal credit cards for business.
The Uses
Purchasing power. Businesses that are experiencing tight cash flow can obtain the goods and services they need by charging items on a credit card. For instance, say you have outstanding receivables but need to purchase something immediately. You can charge it today with the... Read more
Tags: advice, Barbara Weltman, BarbaraWeltman.com, credit cards, tips
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Published July 17th, 2007
It is prudent to avail of business plan advice from known experts than to present a shoddy document that fails to fulfill its purpose. Since the plan will evaluate every aspect of your business, it necessitates detailed knowledge of every facet.
The most commonly given business plan advice relates to its length. All the experts agree that long and cumbersome business plans fail to retain the interest of the readers. The relevant information should be presented in a simple and concise fashion for maximum impact.
Start by identifying the intent and target of your business plan so that the written... Read more
Tags: advice, business plan, Growthink, Small Business Resources, Starting a Business, startups, tips
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Published July 17th, 2007
One of the most effective ways to improve the gross margin you earn on each sale is to focus on gross margin rather than markup on cost.
As I have written many times, it’s easy to get into a markup rut; that is, into the habit of using the same old markups over and over again to arrive at your sell prices. While this is certainly a convenient way to price merchandise, it is not healthy for yours or your company’s gross margin.
One of the most effective ways to optimize gross margin when pricing is to "think gross margin."... Read more
Tags: billleeonline.com, cost, ezinearticles.com, Generating More Sales, gross profit margin, Growing Your Business, pricing products, Sales
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For e-commerce start-ups the realities of product sourcing often come as a shock to the system. With so many online "wholesalers" to choose from these days, it’s common to assume that the process will be easy. If your store is to be profitable, however, your sourcing methods will require just a little more effort and creativity than you think.
1. Search clever.
Avoid using general terms when sourcing products online. Googling "wholesale widgets" may bring up a huge number of results, but you’re unlikely to find a worthwhile supplier among them. Most will be non specialist companies that act as... Read more
Tags: E-Commerce and E-Business, e-merchants, ezinearticles.com, Mal Davies, Product Sourcing, source, tips
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