Posts Tagged ‘advice’
by Steve Strauss on September 9th, 2009
Q: Fall always feels like the new year to me with the kids going back to school and all. Do you think this year will be better than last?
Emile
A: It couldn’t be much worse, could it? Like many others, I do indeed see things continuing to improve as this calendar year winds down, and getting better next year especially.
I think the real question is – what are you going to do to make it better?
By now, you know the drill. I don’t need to tell you to work smarter, or market more, or increase your networking,... Read more »
by Steve Strauss on May 21st, 2009
Q: With business slow, it seems like it might be a good idea to lower prices and cut our fees. However, I am also worried about eating into my profit margin, which is already pretty thin. What do we do?
TJ
A: I love this quote from the late, great Paul Harvey: “In times like these, it is good to know . . . that there have always been times like these!”
Sure, we have all heard that this Great Recession is the worst economy in 50 years, and it is, but that does not mean that there have not... Read more »
by Veronica Stone on May 15th, 2009
With e-retailers expected to buy less holiday season merchandise this year because of the economic downturn, they need to sharpen their strategies in coordinating pricing promotions with available inventory, says Paula Rosenblum, managing director at research and advisory firm Retail Systems Research LLC.
“Plan a pricing strategy, plan your inventory strategy, and make sure the two are in synch,” Rosenblum says.
She adds that retailers this year, worried about overbuying merchandise in an off economic year, may experience unusually high levels of inventory out-of-stock. If that turns out to be the case, it will be even more important for... Read more »
by Steve Strauss on May 8th, 2009
Q: My manager tasked me with analyzing our using mass media – radio and TV – for our business (5 stores.) Any insights you could give me to get started would be appreciated.
Linda
A: There’s an old maxim about advertising and dogs which that is pretty true, and I once I had the dog to prove it. Her name was Gert. Like most dogs, Gert hated it when she had to swallow a pill. She would spit that pill out as fast as she could.
I learned that the only way to get Gert to swallow a pill was... Read more »
by Steve Strauss on May 7th, 2009
Q: I am pretty sure that I will lose my job. I don’t want to start a business from scratch, so what do you think of buying a pre-existing business? And if that is a good idea, like I think it is, what are the possibilities of getting the owner to finance the purchase? My credit isn’t great.
Mike
A: As a general rule, buying a business can be a very good idea, but as with everything else in this economy, to make sure it will be a successful venture, you have to proceed with caution and do your due... Read more »
by Steve Strauss on May 5th, 2009
Q: Steve – I would like to make our business greener, but especially in this economy, I can’t do it if it is going to cost us money. It is, isn’t it?
Jim
A: I know you will be happy when I say, no, it isn’t. In fact, not only should “Going Green” not entail any major expense, it can actually save your small business money. After all, the whole idea is to reduce, reuse, and recycle.
There are any number of small steps any small businesses can take to help reduce their carbon footprint. Here are some of my... Read more »
by Steve Strauss on May 4th, 2009
Q: Steve, I appreciate all of the low-cost marketing methods you have been sharing lately. For my business, we have found that doing a lot of online social networking makes a big difference. But most of my friends who are self-employed are not doing this. I think it’s a mistake.
(Part 2 of 2)
Mike
A: Last week, I wrote about how critical it is today to have, not just an online presence, but a professional, robust, powerful Internet presence; how you need to embrace social networking, and how your website is as “important today as a business card was... Read more »
by Steve Strauss on May 1st, 2009
Q: Steve, I appreciate all of the low-cost marketing methods you have been sharing lately. For my business, we have found that doing a lot of online social networking makes a big difference. But most of my friends who are self-employed are not doing this. I think it’s a mistake.
(Part 1 of 2)
Mike
A: I couldn’t agree with you more. Did you know that more than half of all small businesses in this country do not even have a website? (Maybe the only thing worse than no website is having a bad one, since instead of leaving no... Read more »
by Steve Strauss on April 30th, 2009
Q: I have a meeting with a corporate manager soon and I will be pitching my services to them. Selling to big business is new to me. Do you have any suggestions?
Kelly
A: There is no doubt that big business needs small business. Not only do they sell to us, but they also buy a lot of goods and services from us. But big business is much different than small business. If you are going to try and crack the corporate market, I think you need to keep these tips in mind:
1. You have to solve a problem:... Read more »
by Steve Strauss on April 24th, 2009
Q: I am on the hunt for any new ideas that can help me through this rough economy. It seems like the same old advice doesn’t really apply in this market. Suggestions?
Ann
A: I do agree that we are in extra-ordinary times and it makes sense to be on the lookout for cutting edge ideas and strategies. You never know which one might make a big difference.
Let me give you an example:
We have all heard about R.O.I. – Return on Investment. It’s a useful way to analyze whether you are receiving sufficient bang for your buck for... Read more »