tips
Published November 27th, 2008
Q: Steve, it is no secret that credit and money are still tight, but what is a secret is where small business should go now. My line of credit has dried up last month and I am at a loss. What are our options?
Michael
A: The good news is that there still are options out there, it’s just that if you want to find the money to start or expand your business, you may need to look in new places and be more creative.
The era of ‘easy credit’ is over, that’s for sure.
In fact, according to Senator... Read more
Tags: advice, banking, credit, credit options, loans, Steve Strauss, tips
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Published October 16th, 2008
Whether you are opening a brick-and-mortar store or creating an online e-commerce site, you’re going to need a variety of products from a multitude of manufacturers. While it may seem overwhelming to set up accounts with so many vendors, there are definitely some easy ways to simplify the process.
First, you will need to decide what types of products you want to carry. It’s best to be flexible with brands, colors and sizes, as that will open up your opportunities when dealing with suppliers.
Wholesale product sources
*Manufacturer: Most times buying direct means a high minimum order. Usually manufacturers will... Read more
Tags: advice, Carrie Hinkel, Product Sourcing, source, tips, vendors, wholesale, wholesale vendors
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Published October 13th, 2008
Whether you own a small brick and mortar business or a business that operates online, one of the greatest tools you can have at your disposal is the ability to act on information given to you by a potential customer and turning it into a conversion.
What Is Immediacy?
This process is generally referred to as immediacy; it means identifying exactly what it is that a customer wants at your point of contact through the correct interaction and then outlining exactly how you can fulfill their need.
The faster you can obtain and analyze information from a prospect, the less... Read more
Tags: brick and mortar, customer conversion, Generating More Sales, immediacy, Leeia Ladipoh, online buisness, small business, tips, what works
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Published September 29th, 2008
When it comes to business and the market, many Americans operate under the illusion that the same rules apply to imports from other countries as apply within America itself; namely, grow your business and realize the American dream.
However, all business owners, and particularly those who are importing, have to remember that while the aspirations of the individual are important (if not central in an oblique way) to the well being of the United States, they do not come before the well being of the nation as a whole.
The Pearl of the Orient
So why is this important in... Read more
Tags: customs, Doing Business Internationally, how to, import, importing products, international business, japan, products, tips
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Published September 24th, 2008
Specialty retailers looking for new ways to source products may want to consider visiting local live auctions on a regular basis. The wares are always changing, and while finding products may seem like a needle-in-the-haystack quest, the rewards can be nothing sort of amazing. From a caseload of unopened mp3 players to valuable antiques whose beauty is hidden under a layer of dust, live auctions can hold a treasure trove of products for retailers.
The types of items that can be found at live auctions
The goods being sold at auctions can make some retailers truly giddy with excitement when... Read more
Tags: advice, auction houses, auctions, Carrie Hinkel, Product Sourcing, source, sourcing products, tips
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Published September 23rd, 2008
As the internet makes contacting and communicating with businesses incredibly easy, more entrepreneurs are considering setting up a wholesaler business. A wholesaler is basically a middleman between manufacturers and retailers. Wholesalers buy products in bulk from manufacturers and then sell them at a markup to retailers. There’s no doubt that wholesaling can be a very lucrative business, especially when you carry a full line of products within the same product category.
Getting started as a wholesaler
Find potential manufacturers - This may sound simple enough but it truly is a time-consuming process, as not all manufacturers are willing to take... Read more
Tags: advice, alibaba.com, Carrie Hinkel, getting started, Starting a Business, tips, wholesale, wholesaler
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Published August 25th, 2008
Q: I own an upper-end shop in New York and we too are being hit by the economic slowdown. With people looking for bargains, how to we compete without hurting our brand?
Jenna
A : There is no doubt everyone is feeling the pinch of the economic downturn these days and woe to the business that doesn’t react in accordance with the times.
Back at the turn of the 20th century, the automobile was a newfangled contraption. But even so, it was apparent almost immediately that it was also a revolutionary item that was here to stay. That is one... Read more
Tags: competing with other businesses, economic downturn, economy, expert advice, MrAllBiz.com, small business expert, Steve Strauss, tips
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Published August 12th, 2008
If you’re looking to create an advertising campaign for your business, you need to make sure you approach it correctly if you want it to make an impact. This is regardless of what form your advertising will take - online, print, television or radio. After all, you’re probably spending quite a bit on the advertising costs, so you need to make sure you’re getting your money’s worth.
Here’s a list of do’s and don’ts when developing your campaign:
Keeping it Clean
Do use simple ideas: Focus your campaign on one image, slogan, or concept.
Don’t have 4-5 images vying for... Read more
Tags: advertising, advice, danny brown, Marketing, marketing campaign, Marketing Your Business, tips
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Published August 6th, 2008
If you’ve decided to sell name brand products in your store, you’re in luck. Because of the popularity of certain brands, they are easy to find and buy at wholesale prices. However, there are some very real risks to look out for when trying to source your products.
Important things to know about brand-name product sourcing
1. Fake “factory authorized” distributors : It is a must that you buy your products from distributors that have been authorized by the manufacturer to wholesale their products. Most brand-name manufacturers will not sell directly to you, so you will need to go through... Read more
Tags: advice, brand name, Carrie Hinkel, Product Sourcing, source, tips, wholesale
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Published July 30th, 2008
In order to maximize your profitability during seasonal changes, specifically with the back-to-school season, you need to remove the guesswork. You need to know exactly how the market is going to behave to make the most money.
Predicting the Future
How can you know when the peak sales are going to drop off? You can’t predict the future can you? Of course we can’t predict the future, but we can learn from our past.
Retailers keep track of what happened previous years to know how to effectively sell this year. Managers order enough calculators not only to get them through... Read more
Tags: advice, back to school, Generating More Sales, HammerTap, product trends, Sales, seasonal trends, tips
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