Posts Tagged ‘strategy’
by Leeia Ladipoh on May 9th, 2008
When you see how effective word of mouth advertising can be, you should begin to look for more people to tell about your business.
The more people you tell, the better your chance of having a successful business. But there are things to do, and there are things not to do.
Don’t Plug Where You Aren’t Supposed to
When you’re online in a chat room, notice that no one is saying anything about their business. You may think, “what can a small plug here hurt?”, so you say something about your company.
This can be harmful because it is called... Read more »
by Carrie Hinkel on April 25th, 2008
If you’ve been dreaming about starting your own business, but just can’t take yourself away from the security and steady paycheck of your current job, don’t fret. Many successful business owners started their company with just a few spare hours in the evenings and on weekends – and you can too! Here are some tips for getting your business idea out of your head and in front of customers.
Make an “after hours” schedule – Getting serious about your new business means making certain time commitments in order to get it off the ground. Whether it’s getting up a couple... Read more »
by Carrie Hinkel on April 4th, 2008
Any business, new or seasoned, can benefit from flacking. If you’re unfamiliar with the term, it just means using PR to generate publicity and buzz for your company. But, just because we’re talking about PR doesn’t mean you have to hire a fancy Madison Avenue firm and spend thousands for them to launch a campaign for you. Believe it or not, if you are a small business owner, you can do your own flacking – and you might just be surprised at all the attention you’re able to generate! Here’s how:
Start a company blog – You can either add... Read more »
by Leeia Ladipoh on February 14th, 2008
While it may still be bundle-up weather outside, if you want to be on the ball for your business, you need to prepare for spring selling – even in the dead of winter.
While it may seem like it’s too cold to worry about things warming up right now, spring is closer than you think. If you don’t get moving now, you’re going to be behind when the winter clearances should be giving way to spring arrivals.
Out With the Old
Winter may not be over quite yet, but that doesn’t mean you need to keep the shelves stocked with... Read more »
by Carrie Hinkel on February 13th, 2008
If your small business is growing rapidly and you have visions of multiple locations and franchises, that’s terrific. However, take a lesson from corner coffee shop turned corporate giant Starbucks, and don’t forget what made your company so popular in the first place.
Less than a month ago, after showing the weakest sales period in the company’s history, Starbucks announced that it will close 100 stores. This was shocking news considering in the 1990s the company was opening a new shop every workday – and the rapid growth continued well into the 2000s.
So what happened? Where did Starbucks go... Read more »
by Carrie Hinkel on February 1st, 2008
The difference between a good and bad business plan could mean getting a loan and not getting a loan, or a successful expansion and an early closing. A business plan is a powerful tool and the opportunity to create one that is detailed and guiding shouldn’t be wasted.
But what makes a business plan good? Well, it’s not measured by the number of pages or creative graphics used. A good business plan is informative, factual and detailed – able to accurately forecast sales, growth, and expenses. A good business plan should leave readers – whether a banker, venture capitalist, private... Read more »
by Carrie Hinkel on January 31st, 2008
Do you find that in your business you are overly concerned with the everyday details? Perhaps you spend your day trying to please every customer’s request or trying to solve each individual problem that arises. If that’s the case, then like many small business owners, you’re having trouble seeing the big picture. If you focus too much on each individual circumstance, you’ll have trouble stepping back and assessing the entire situation and seeing what can be improved or solved.
Take the example of Anna and her party supplies rental company. She had a customer come in and ask if she... Read more »
by Carrie Hinkel on January 29th, 2008
Whether your business is a start-up or a quickly-expanding enterprise, creating a business plan is a great way to see exactly where your business is, where you’d like it to go or how you can get it off the ground. Whether the purpose is to obtain funding, organize growth patterns or to test the feasibility of a venture, a business plan is the best way to put your ideas down on paper with the factual numbers to back them up. However, there is no one-size-fits-all business plan. Different purposes require different information and formats – and therefore a different type... Read more »
by Carrie Hinkel on January 23rd, 2008
Whether you’re starting a business or have an established company, the time may come when you need to borrow money -either for starting or expansion costs. Most business owners will end up turning to a conventional bank for a business loan. Knowing what’s expected from the lender can help to prepare you and your business before meeting with a loan agent and filling out a loan application. It just might increase your chances of getting a loan.
When deciding to give a company a business loan, most banks (big and small) will refer to what is commonly called the "Six... Read more »
by Carrie Hinkel on January 16th, 2008
Creating a business plan is absolutely essential for any entrepreneur who is thinking of starting a new business. The best thing about a business plan is that it forces you to create a detailed analysis of your business. In doing so, you might find out that you need a bigger start-up loan than originally anticipated, or that your proposed retail price gives you too small of a profit margin, etc.
A business plan can also help convince banks, businesses or individuals to invest in your idea or to give you a loan. So, it’s important that your business plan is... Read more »