Make Your Small Business Big

How Can Your Small Business Beat the Big Guys? Look at Finding a Niche

2010-04-06T23:40:00.001+02:00

How do you as a small business survive in a world of giant competitors? We know that the number of small businesses is increasing almost daily, but we also hear that the giants in every industry do all that they can to squeeze the small guy out of existence. The large corporations are able to get better pricing from their suppliers through huge bulk orders. They are then able to pass on these discounts onto their customers and thereby undercut any of their competition. The large corporations are also able to get really good terms from their suppliers because of the size of their orders. So how can a small business thrive in the face of such seemingly powerful competition?

The answer is really not that difficult. Find or create a niche. A niche is defined as a distinct segment of the market. A niche is filled with customers already ready and willing to buy. The big advantage that a small business has over a lumbering giant of a corporation is speed, flexibility and being that much more nimble and adaptable.

The niche that you may be looking for may be an existing one, but one that is not serviced very well by the big guys. Perhaps it is too much trouble for the giants to spend that much effort in chasing that niche. Here is an opportunity to get into a niche that the bigger corporations do not want to enter. Perhaps they are not geared up to service such a niche. For example - Home Depot, the large DIY and hardware store chain sells lawn mowers and spares for lawn mowers, but does not repair and service lawn mowers. Lawn Mower servicing is not their primary business. Making the initial sale is their business, but repair work on mowers may be too small a niche for them to tackle. So this is a niche that is known, but not serviced by them.

Another opportunity is where the niche exists but is serviced really badly by the large corporations. Their focus is too broad to do a great job and so the door is open to someone who can become known as an expert and specialist in that area. The larger corporations who serve so many niches at the same time cannot afford to be anything but generalists. The specialist can easily compete on delivering better service even if the price is slightly higher. Also larger corporations are perceived as being very impersonal and unfriendly. This also plays into the hands of the specialist who the customer can interact with face to face. Computer services and consulting is a good example of this.

The third type of niche is one that does not exist at all, one that the large corporations have no knowledge of and one that you create yourself. Naturally the competition in this niche does not exist, so you have nothing to fear from the giants there. You may have to be concerned if the large corporations see your small business start to really take off when they realize that they had overlooked that niche and decide to get into it. However the chances are that they would not be very good at it once they get into this new niche!

The small business owner already spends time always on the lookout for new business opportunities. Locating or creating niches is a great way of finding new opportunities.

author: Mark Bergman

A Few Advertising Ideas to Make Your Small Business Stand Out

2010-04-06T15:20:00.001+02:00

Business leaders of every variety agree that one of essential building blocks of a successful business is its marketing campaign. At one time, things may have been different, but as it stands today in America, there is overwhelming competition in almost every business market, and everyone is working to advertise their products and services. Consumers are bombarded daily with more information than their minds can hold, and only that which is most important or most interesting is retained by day's end, so every business' goal is to make their name that bit of retained information.

As you begin your own small business, advertising will be key to your success as well. Almost all franchises come with a pre-established marketing system, but going above and beyond the advertising schemes provided is seldom frowned upon. Here are 10 creative ideas you can bring to your local marketing campaign to boost sales and put your franchise business ahead in the market.

#1) Online Ads

This has rapidly become the most popular and lucrative method of advertising available today. There are two reasons for this: first, it's the cheapest means of advertising, and second, consumers today are doing more research and shopping online than they are in stores.

Because this is such a ripe advertising idea, though, many businesses are already exploiting it, which means that your advertising has to stand out, so be creative. One viable option for advertising creatively is incorporating a game into your advertisement. Interactivity goes a long way in promoting your franchise.

#2) Business Cards

The term "grassroots" has amassed something of a cultural following in the wake of mass advertising, and for good reason. Meeting people, passing out business cards, and advertising by word of mouth isn't capable of reaching as many hearers at one time as larger marketing methods, but people trust a flesh-and-bones person and the positive words of a friend more than any amount of billboards. Particularly in a business like interior painting, the Fresh Coat Painters franchisee would do well to invest in a truckload of business cards, so that he and his clients can advertise for him.

#3) Community Involvement

People love a company with a conscience. Not to say that community service should be done solely as an advertising scheme, but if you, as a home based business owner, are naturally interested in giving back to the community, don't hesitate to let people know that your business is involved in serving the people of the area.

#4) Drawings & Contests

As stated in #1, people like interactive advertising (just think of the success of the McDonalds Monopoly game). A good way of reeling old clients back into your business is by giving them opportunity to participate in some kind of game and potentially win something.

#5) Yellow Pages

It's commonly overlooked today, but the yellow pages still offer a viable advertising platform, and many people do still use it to find services that they need. It is important, however, that your Club Z In-Home Tutoring ad be as big as you can afford, as people are far more likely to call the more visible ads when looking for a tutor for their children.

#6) Direct Mail Ads

Everyone gets ads in the mail, and sometimes they're worth getting: providing a coupon or another handy discount on something necessary. Direct mail is often downplayed, but how many major food chains keep sending them out and keep profiting from them? Let's assume they know what they're doing. And direct mail ads are certainly better than email ads and phone calls, which most people have come to have a deep distaste for.

#7) Advertising with Invoices

Definitely winning creativity points, this method of advertising is great for bringing back current clients by giving discounts to people who you already know want your products. And if you make the advertisement something interesting, like a bring-a-friend promo, then you are effectively doubling your clients.

#8) Newspaper and Magazine Ads

These are about as classic as advertising can get. Though many companies are turning away from magazine ads because they're more expensive than online advertising, finding the right local magazine or paper to advertise in can be both profitable and relatively inexpensive. For instance, advertising a Doody Calls pet cleanup franchise in nearby neighborhood magazines and the local humane society newspaper/flyer puts your business in the eyes of just the people you want without costing an arm and a leg.

#9) Radio Ads

Radio can be a rather inexpensive way to advertise your work from home business. Local radio stations offer a great way to put your services in the public eye without all the production work (and therefore cost) that goes into graphic and video ads.

#10) Trade Show Participation

There are trade shows out there for everything, and they're a great business opportunity. The best part about being involved in one is that it puts your business in contact with the people who are most interested in using your services. Take your Racing Limos business to an auto industry show, and you get instant attention from the gear-heads that are most likely to be interested in renting your racecar-inspired limos. Plus, you get the added bonus of meeting other auto business owners with whom you can establish mutually beneficial professional relationships.

When you purchase a business for sale, one of the features you need to give the most consideration to is their marketing system. And even if you find one that is already strong, don't hesitate to get creative to advance your local advertising even further than the root plan provides for. Business opportunities are everywhere; it's just a matter of putting your name out there as much as possible and drawing those opportunities to yourself.

author: Candice Clem

Grow Your Small Business With Email - Top Five Tips

2010-04-06T11:00:00.001+02:00

Did you know that 80% of all sales are made after the 5th contact?

The biggest mistake we make is not following up with our clients regularly. We not only lose the chance to offer other services and products, we lose the chance for satisfied clients' referrals. Grow your small business with email strategies that make sales and increase profits.

Building your practice needs consistent bi-monthly follow-ups.

If you think this takes too much time, follow my lead and delegate some of it where you will spend only 6-8 hours a week. Remember, only marketing and promotion builds income and business, the rest are expenses.

Here's the top five ways:

1. Keep track of every one who contacts you, in person or by email about coaching or other service.

Treat email addresses like gold. These are already qualified, targeted future clients. Copy and paste their email note, date, and question into Textpad or notepad under the name "potential clients." Print it out and keep in a hard file named the same.

2. Don't throw away email addresses.

When someone connects with you, copy and paste their address into your computer folder called "eLists." Place the address where you think it belongs. Name one file "potential clients." If they are past clients, create another list and call it "past clients." If present clients, make a file for them too. Categorized into groups, you can personalize your note to each one. Every month you'll want contact one of these groups and offer them something special.

3. Keep track of your ezine subscribers' emails separately.

While you may use a company to send out your ezine, you may also want to have that list handy in your own office. My assistant uses textpad.com shareware program to manage all of my different email lists. Since I only send out my ezine on book coaching and business tip monthly, I follow up in between with a thank you or special offer. It takes less than 3 minutes to send out through text pad.

4. Choose the appropriate follow up message for each group.

For your monthly ezine, you may want to send out a mini "marketing survey." You ask 4-8 questions. For any who takes the time to respond, you offer them a free eBook or report. In one follow up I asked, "What are the 3 top questions you want answered about writing and publishing a book?" My subscribers knew I was thinking about them and appreciated it by signing up for the follow up teleclass.

People love freebies, so when your follow up offers a fre.e tip or question and answer, your potential clients will see your value.

5. Leverage big results from just a little effort.

Don't waste any information that helps you promote. After you get responses to your mini survey, use them again and again. After you answer the questions, keep them in a folder called Q and A. Create a new web site link and post them as new content for your hungry web site visitors.

Don't think you are bothering your contacts. If they don't want your news, they can opt-out. Thank you's and free gifts keep your name in front of your buyers. It tells them you appreciate them and let's them know what new things you can offer them. Follow up is good business.

author: Judy Cullins

Don't "Fool" Yourself Into Targeting Non-Productive Target Markets

2010-03-06T23:40:00.001+01:00

One of the most frustrating and self defeating behaviors small business people commit is spending their marketing efforts and resources on those who have neither the budget nor desire for our products and services. Of course, this sounds obvious but it's still a "trap" that most of us fall into at one time or another. Our motivation may be "they need us", a desire to be of service, or having such conviction that we can improve their situation whether or not they know it now.

Our sympathy and compassion get us hooked into a rescue effort that typically has little chance of enriching us financially or psychically. Another reason we spend time on non-productive prospects is our over enthusiasm for what we provide and paying little or no attention to information coming from the prospect. We miss signals. We don't "receive" information. We are completely distracted by and busy with our own fantasy of what is happening.

The primary mistake we make when we do this is not maintaining clarity on our target market. We believe that EVERYONE is our target. It's a big mistake if you haven't defined and refined your target market in exquisite detail. Without this, how would you know when you're in front of exactly the right prospects for you?

Instead, you'll be spending your time and energy on those who are unlikely to buy your services. What sense does it make to do all the work you do in your business, then waste your marketing resources? If you think you may have this tendency, here are a few things for you to consider.

1. Become crystal clear on your target market and focus your efforts there in laser beam fashion. Often, getting clarity on your target market may be an area where you would benefit from some professional help. Hire a marketing coach, or consultant for a session or two on target market. Once you are extremely clear on who you are targeting, how to recognize them. and where to locate them, your marketing efforts immediately become more focused and more productive.

2. Become very skillful at recognizing your target market and recognizing your non-target market. Go a leap beyond and decide not to allow yourself to be distracted by your non-target market. Notice when you feel pulled to rescue (with or without being asked). Recognize that you are not willing to continue to make non-productive choices here. This does not mean that you are rude or rejecting to your non-target market. They are simply not the focus of your business efforts.

3. Learn to ask the questions and obtain the information you need to ascertain correctly whether or not a prospect belongs to your target market. This requires finesse and skillful social skills. Again, none of this is blunt or rude or obvious. You treat others the way you want to be treated. It's simply a matter of using your business time on those prospects that have the greatest potential for your business.

4. Take a look at any of your personal characteristics and tendencies that cause you to spend your marketing efforts on "prospects" who have neither interest nor attention in your services. What is it about you that causes you to need to misspend your efforts? Is there something going on in your own ability to assess or do you need to "do something"--even if it will not be productive? You need to figure out how to correct these tendencies and move beyond such unproductive marketing efforts.

Give up being fooled (fooling yourself actually) and no longer allow yourself to pursue non-productive target markets.

author: Suzi Elton

7 Reasons to Think Big With Your Small Business Marketing

2010-03-06T11:00:00.000+01:00

A small business can be perfectly formed. It should be small in size, but not in mind. Although large scale businesses often have inbuilt waste, thinking too small in your marketing will not let your business grow and develop. Here are some of the reasons to continually think big:

1. You get a better price when you buy more. Whether you are buying leaflets, business cards, or number of pages on your website the incremental extra will cost less and has the potential to give you a better return.

2. Think bigger to get better results. If you decide to go for something go for it. If you join twitter join twitter properly, if you have a new blog post every day, if you are doing a leaflet drop don't just walk round one or two roads. There is something about doing more that creates the energy for more to come back to you.

3. Being bigger as a person wins you more business. Nobody likes to be sold to, but we all like to buy from someone we know like and trust. If you are the head of a small business you are not doing yourself or your potential clients any favours by staying in the background and not speaking out. You may have to force yourself the first time, but once you get a favourable reaction - and you will - the response may surprise you.

4. Know the big point of it all. Not only the point of your business, but why you are doing it, personally. Thinking big and keeps you out of the million small details that can erode your life and work. If you know the point of it all, it will be easier to know what to do along the way. How long you want to have the business, for example, will guide how quickly you want to achieve guru status. Or if you want to sell the business in three years time that decision will shape how your approach to the market, your products and how much PR coverage you want right now.

5. Make your message fit with something bigger than just your product or service. Appeal to big picture values and be in service of something that has the potential to change the world. When you have spark and inspiration working for you it all becomes more enjoyable, and you are very attractive to the right audience. In fact you will have a lot less "work" to do!

6. Have a bigger product in mind. People will want to buy from you when they gain from your approach, so don't short-change them and send them to a competitor. Have the next big product lined up and ready..and the one after that .. and the one after that.

7. Be bigger than your business. You are a human being with a life. Giving yourself the freedom to have time off, and not do things related to the business pays dividends. It ensures that you are enjoying yourself (which will attract clients to you), and improves the quality of your experiences, and of what you bring to your own business. It also helps you to understand others better.

You may only have a small business but it will be the perfect size if you think big. Focus on customers when marketing your small business.

author: Jean Wolfe

Small Business Credit Card Processing - Accepting Credit Cards Will Boost Your Sales

2010-02-06T23:40:00.001+01:00

Sometimes a small business owner may be under impression that he or she does not need to involve credit card payment option. However, small business credit card processing can provide countless opportunities to increase the income, as lots of customers nowadays prefer shopping with a card to any other method of payment. Regardless the focus of your business and the way you run it, accepting credit cards will definitely boost your sales.

Besides, it is a great economy of time, as the transactions are conducted instantly, and there is no need to bother about calculating the change. Your staff does not have to handle big amounts of cash anymore, even if you arrange the sales on the go. With card processing equipment you can collect the payments from your clients while providing the services on their site or perhaps in a taxicab.

Also, small business credit card processing enables you to send and receive payment from any part of the globe. There is no need to wait for eternity until the payment from your foreign clients arrives. Payment transactions are quick and easy nowadays, and it would not be wise to deprive yourself of this option.

As far as administrative work is concerned, credit card processing makes it possible to get lots of bookkeeping procedures automated, which means you can pay dedicate your time to promotional campaigns and marketing strategies instead of handling the data. Not every company is lucky enough to have devoted employees, in this case the more secure and automated the process of transaction is, the better it is for the profit of your business.

For small business credit card processing you will need a merchant account. There are lots of merchant account providers, and after comparing their fees and terms of cooperation you can choose the most appropriate variant. There are several types of card processors who can handle all the payment procedures. Among them there are providers of financial services, banks, independent sales companies, just to name a few.

And of course it is extremely important to consider the type of credit card processing equipment your company requires. Your choice can vary according to the characteristics and focus of your business. A terminal can be attached to computer: this option works the best for restaurants and retail stores, as they are mostly run statically and do not involve remote sales.

However, small business credit card processing on the go will require a wireless device, which works similarly to mobile phones. Even if your business does not need mobility as such, a portable card machine will be very useful during occasional participation in a trade show or exhibition. In this case it is highly recommended to rent the equipment. Having a portable machine is also highly beneficial if you have a home-based business, as there will be no need to bother about second telephone line.

In case you do not have a personal contact with your clients, a virtual credit card machine would be acceptable, small business credit card processing online is possible nowadays thanks to the special software.

Generally speaking, a small business has all the chances to turn into a big one if it is progressive enough to use the benefits of card processing.

author: Brantley Graham

Internet Brand Marketing - How to Create Your Own Powerful Brand on the Internet

2010-02-06T15:20:00.000+01:00

Learning internet brand marketing is crucial to differentiate your business from others in your niche market. Many of us have this belief that small businesses, and small online businesses for that matter, don't need any branding. We are all too focused on the strategies and the direct response stuff to care about branding. Well, the reality is branding matters.

Let's look at the biggest businesses in the world. They all have a distinct brand. Mercedes is associated with luxury, McDonalds is associated with Ronald McDonald and FedEx is known for popularizing overnight delivery. These are all big, successful businesses, but that doesn't mean small businesses can't brand themselves to gain a competitive advantage as well.

The first step is to find or create something that makes our business different from others. Find out what is your core benefit that other businesses cannot provide or will find it difficult to provide. Be a specialist in something rather than a generalist. When a customer is looking for specific information or solutions, they would often prefer to go to a specialist for the answers rather than to a generalist. Someone who specializes in a craft is perceived to know more about it.

The other step you can take is to brand your business aesthetically. By this, I mean making your graphics and logo stand out. If most of your competitors in your industry are using red as their main color for their product, you can try blue, orange or purple to differentiate your business. The trick is to follow what successful businesses online have done (with regards to how they drive their traffic, their customer service, their product quality etc) but do the things better. Find out key areas where you can differentiate yourself from your competitors.

author: Fabian Tan

Understanding Brand Recognition For Business Success

2010-02-06T11:00:00.000+01:00

A brand is a business as customers see it. What a company sells is also part of a brand. It is not just the business name. It is also any logos or other cues that aid in business recognition. Brand recognition is a marketing basic. In fact, there is nothing more basic.

Brand is all the big and little things a person thinks about a brand. From small businesses to large conglomerates, the goal is to stick around. That means marketing. A strategic marketing campaign includes branding.

A strong brand is recognizable and includes positive associations. Brand recognition has achieved new importance in today's business world. Savvy proprietors are always seeking new ways to improve upon their brand. Companies with an Internet identity are more able to stay alive in today's increasingly competitive markets. It can be overwhelming for new businesses, but it's vital to success. No matter how well a company is currently doing, the future is always uncertain.

Coming up with new ways to distinguish itself from similar companies is a battle every business hopes to win. Customers want to be treated like the princes and queens they think they are, so roll up your sleeves and get ready to roll out the red carpet. Consider untapped markets or expansion into niches. Asking the question of where do you see your brand in five, ten, or twenty years is another practical way to look to path ahead. Looking down the road is a smart move.

While bigger businesses have likely already achieved brand awareness, new business owners may not have come to realize the importance of this concept. Whether or not it's being considered, daily business practices have a huge impact on brand recognition. From how you treat your customers to how they feel about your product or service, customers start thinking about a brand the minute it makes its way into their lives. Making a good impression at this early point is important.

Finding ways to maximize brand recognition is an important goal for all companies. If consumers want whatever it is you're selling, you will stay in business. On the flip side, if they don't have any use or desire for your products or services, your chance of survival is grim. The more cues a business uses, the more memorable its brand will become. People have millions of thoughts every day. Coming up with an idea that will attach to something they are already thinking is one way to get to brand recognition.

Brand preference and brand loyalty are the next components once a company has achieved basic recognition. Brand preference is gained when customers who have used a product or service would pick it over all the other options available. There are numerous reasons for a consumer's product preference. People like products that make them feel good, that they use regularly, and that offer something extra. The psychology of consumerism is deeply ingrained in their preferences. Brand loyalty occurs after a customer has used a product or service for enough time to result in their becoming a customer for life. Now, that is the ultimate goal.

author: Ben Pate

Your Small Business Opportunity - Will You Make it?

2010-01-06T23:40:00.003+01:00

To make your small business opportunity succeed, you need success traits - do you have them? Can you ignore a ringing phone? Or better yet, can you answer the phone just as you plan to leave for vacation? I've outlined 5 of these required traits below. Take a look and see how you measure up.

Essential Traits to Small Business Opportunity Success

1. Persistence

How many months of failure can you handle? If you didn't like that word, failure, congratulations - neither do I. You may spend months working and not see any appreciable gains, but I don't call that failure.

Call it experience, or farming, perhaps. If you can keep working even when you don't see any return, you are definitely persistent.

Make sure your cause makes sense, and that you can still keep food in your cupboards and a roof overhead. Then keep working.

2. Tenacity

When you work on your business, you have interruptions, right? Maybe the kids need lunch, or you need to fix a dishwasher. Where do you draw the line with these interruptions?

I call this tenacity. Finding a way to handle reasonable interruptions, like the kids, but to sidestep or rearrange the others. Maybe someone else would be a better choice for appliance repair, especially if you have a big project underway.

3. Integrity

How much do you want success? Will you do anything to get it? Think about this - anything? Of course not.

Success in your small business opportunity, in MLM, a franchise, whatever, should never compromise your integrity. Don't get desperate and lose everything by taking the low road to what looks like success.

Trust me. You will want to have your integrity intact when you arrive at any success. It will feel better, you'll enjoy it more, and you won't have to hide how you achieved your place.

4. Prioritization & Balance

All right, look back at persistence and tenacity. Notice, I said the kids are a reasonable interruption. I call this prioritization. Remember to prioritize your work, and don't always put work ahead of other areas of life.

One day you'll achieve your success. You'll have thousands in the bank, you'll have a yacht, a ski cabin, a monster truck or whatever you want. But if you have lost all the people in your life to share it with, maybe the price was too high.

Make room to succeed, while also keeping an eye on the joy life brings. Bounce the kids or grandkids on your knee. Take an afternoon and go to a movie or picnic with someone special.

Then get back in the office and crush it until you need another break, or until the kids need lunch.

5. Vision

At this point, you know have the first 4 wrapped up. But do you know where you are going? DO you have your next goal defined and figured out? Do you have any kind of a plan to get you there?

You must have vision or you'll never get to an end point, a finish line. Granted, you will need to keep setting goals, but you still need to know that you have reached a goal now and then.

Write out what you want to achieve, and make sure that your small business opportunity still matches that and vice versa.

Master Traits

If you master these traits, you'll find you have what it takes to succeed in almost any circumstance. If you feel you need more of one or another of them, get started. Start practicing, and you'll improve. Take time to track your progress, and to learn more about the traits you need to work on.

author: Kevin Ihrig

Make a Big Bang with Your Small Business

2010-01-06T15:20:00.000+01:00

Just because your business is small does not mean it can’t be powerful. You can make a big bang with your small business by making smart decisions that will maximize the effectiveness of your limited resources and create a cosmic explosion worth talking about. Accept the challenge of working with a limited budget and decide to go dense and concentrated with a narrowed focus rather than trying to spread yourself too thin. Everything you do can improve your chances for success. Starting a business, given its rewards and risks, is a serious endeavor and requires considerable preparation. Work the following tips into your business plan and your business is sure to flourish.

1. Focus on your strengths. Successful entrepreneurs know that they can’t be everything to everybody. Each of us has our own strengths and weaknesses. To be effective, you need to identify your strengths and concentrate on them. You can do this by taking any of a myriad of personality and skills tests. The DISC profile is one of the most well known of these. Once you have identified your strengths you will be able to channel your efforts to areas that you are best at. In business, for example, if you know you have good marketing instincts, then harness this strength and make full use of it. Outsource or get help in areas that you may be poor at, such as accounting or bookkeeping or IT. You started a business to get the business to succeed not so you could learn how to keep the books and fix the fax machine. Advancing the business is done best when the entrepreneur is out in the world furthering the business, talking to customers, coming up with new ideas for products or improvements, not when he is bogged down in the minutia or doing the tasks that he is not very adept at.

2. Work hard and work smart. I know you are not expecting to achieve success just by sitting and staring at the wall every single day, you are probably planning to work hard. However you must understand the value of working smart as well. Every successful entrepreneur works hard and smart. Like I mentioned before you should work hard on your strengths and when possible let others work on the minutia and the things that are not your strong suit. The life of a successful entrepreneur doesn’t start out with breakfast and TV. Almost all successful entrepreneurs work more than 60 hours per week at the start. Lazing around can come after your business best processes and/or exit strategy come into effect. You should be prepared to sacrifice purely social events for some time. If you are in a start-up phase, you will have to breathe, eat and drink your business until it can stand on its own. Working hard will be easy if you have a vision, clear goals and are passionate with what you do. Then you are an entrepreneur on the path to success.

3. Planning, planning, and more planning. Successful entrepreneurs have a vision, and they have enough faith in themselves to believe that they can achieve their vision. They also know how to get to their vision. They create concrete goals that will provide the stepping-stones towards their ultimate vision. Putting goals in writing in the form of business plans and strategies is the first step towards becoming successful. Plan each day in such a way that every action contributes to the attainment of your business vision. Intense goal orientation is the characteristic of every successful entrepreneur. They have a vision, and they figure out how get there. Your ability to set goals and make plans for your accomplishments is the skill that is required for success. Plan, plan and plan - because without plans failure is almost guaranteed.

4. Improve who you know through networking. In business, you are judged by the company you keep including your management team, board of directors and strategic partners. Businesses always need more clients and more alliances. You never know what connections will lead to work or to vital partners in the future. Let go of relationships that are not working for you. Never burn bridges or hurt people, but realize that you can only feasibility retain so many relationships, spend your time in the good ones, create more good ones and let the bad ones go. No matter what your office hours are, always have your business in the back of your mind. Not the stressful and tactical part, but your business vision. Your subconscious mind should see it all the time. Don’t think that a connection is not an important one because you made it at a grocery store on weekend and don’t think that who you hang out with socially has no bearing on your success in the business world. It is important to form alliances with people who can help you, and who you can help in return. Scratching someone else’s back because you are able to will pay off in the future. Successful entrepreneurs know this and they are constantly cultivating new and existing relationships.

To be a successful entrepreneur you have to put in hard workdays. You have to network, plan and focus on your strengths constantly. Doing all these things takes time and effort and surviving the pitfalls of the cutthroat business world, but the endeavor can be one of the most rewarding and best things you do in life.

author: Elizabeth W. Gordon

Going Big With Your Small Business

2010-01-06T11:00:00.000+01:00

Your little business is growing up! You've weathered the tough years well and now the time is right to expand. Your reasons for doing this could be to increase profits, carve out some time to enjoy your life, or even simply because you can. Take care though, as the path to turn your small business into a big business contains many pitfalls that could seriously injure, or even kill all of your hard work.

First, examine your motivations for the expansion. Has it become difficult to keep up with orders? Do you find that your employees -- or yourself! - are constantly swamped? Have you spotted areas where it would be easy to increase production to raise profits? If the answer to any of these questions is "Yes!" then growth is a sensible choice. Some not so good reasons are:

* The space next door has become available for purchase
* You have had a financial windfall and it's burning a hole in your spreadsheet
* You like the idea of owning more equipment with your name on it, or more employees calling you "Boss."

These not so good reasons could accompany a sensible growth plan, but are bad motivators in of themselves.

You are going ahead with the expansion, what should you do first? Mapping out the changes you envision is the best place to start. Are you simply adding machines to your manufacturing line? Are you moving into a bigger building with more employees? Perhaps you are opening a branch or franchise in a completely separate location. Once you know how your business will look at the end of this growth period, you can specify exactly what needs to be done, built, purchased, hired, etc. to make it all happen. Now inspect this list and fill in the financial blanks. How much will the new machinery cost? If you hire more people, what kind of a hit will payroll take, or how much more money will supplies be for these new employees? When you have the financials in detail, take a really good, hard look at it. If you really cannot sustain what you want to do, this is the perfect opportunity to walk away unscathed.

You've made your lists and checked them twice, it's now time to move on to the next step. How you do business day to day will be one of the most important aspects of this process. Look at your procedures. Can they be simplified or duplicated? With some investment in technology, could they become faster or obsolete? What about consolidation? One object of this exercise is to get your operations set up so that they can be done by new employees or easily added to existing employee's workloads. Another reason is to make sure operations can be accomplished at a new location or department. If your business cannot run well with the new setup, perhaps your processes need some serious revamping, or again, expansion may not be the answer. This is another opportunity to abandon growth before it's too late.

Let's go into detail with second locations, or franchising. How does the work get done? Is it one employee? Is it one machine? Is it just you? Maybe it's a few employees with your guiding hand? Only two of the preceding four scenarios would survive a franchise. Your procedures and processes MUST be able to be duplicated - as in a second machine - or run by themselves without you to oversee - as in with a manager. Look at the Blue Man Group. In the beginning, they were a small business (performance group) that was becoming too popular for the three of them to keep up. Realizing this, they locked themselves in a hotel room for a weekend and hammered out all that it meant to be a Blue Man. Once they had their list, they hired people that fit their needs and franchised. Now they have multiple, independent groups that provide the same product, but without any of the original Blue Men needing to be there. Your franchise should be like that.

The Blue Man Group leads us to the next important point: People. With expansion comes more work, more activity, more balls to juggle. If you have done your homework well, you will have identified each aspect of work to be accomplished and hired accordingly. The most vital hire that you do, however, will be your general manager. This is the person who will oversee the day to day operations for you, or run the other location. This person will be there when you won't be, will handle problems and tell you about the solutions afterwards, will make your growth successful. This person needs to be competent, respected, NOT micro-managed, and paid extremely well. Your general manager is the keystone for your business's survival.

All of these points are necessary for making your small business turn into a big business, but there is a major, possibly THE major pitfall of any expansion: the owner yourself. To put things into perspective, you started with nothing and after years of hard work, sleepless nights, and so much spent money your small business is thriving and ready to take off. You know everything about your business, what it needs, the best way to do things - you've even said the phrase, "If you want something done right..." many times. How can anyone possibly do anything better than you? To grow your business however, you cannot do it yourself anymore. You will have to let someone else do it, all by themselves. Let's make the point clear:

The number one company killer, lurking over your expanding small business is: You not letting go.

Is this what you envision, that you let go and the company is running smoothly, you are not needed to solve problems, you go home early... it's almost like they don't need you? If anything like that happens to you after you expand, don't be despondent, REJOICE! You made it! You are in a shockingly small percentage of owners that took their small business big. You have planned well, organized well, hired the right people, trained them well, purchased all they need, and got out of the way. Not only have you done a fantastic job growing your business, you have also grown as an owner alongside your company.

author: Amy Linley

A Beginner's Guide to Marketing Your Small Business

2009-12-18T16:54:00.000+01:00

So, you've decided to start a small business...good for you! Despite all we hear about these giant corporations in the news, it really is the small businesses that make the world go 'round. The problem that many small business owner's face is with their marketing. In short, they have absolutely no idea where to begin, how to begin, or what to do once they do begin. And if you own a small business, you know that the banks aren't good for much when it comes to marketing guidance.

Aside from actually going through the steps to start the business itself and getting financing, marketing is the single most important element of your small business. If you make too many mistakes here, you're screwed. As you read through this entire article, you'll discover some very useful concepts and strategies that will put you on the right track when it comes to small business marketing. Think of it as a beginner's guide to marketing your small business.

The first and most important element to any marketing, especially small business marketing is to always, always keep your prospect in mind when creating any marketing material. By prospect I mean prospective customer, the person you want to pay for your product or service. So many small business owners litter their ads and websites with 'I' and 'We' type copy. All this does is cause your prospect to disconnect from what you are saying and go look somewhere else. You must always keep in mind that people are most interested in themselves, so when you start by talking about you, they're going to lose interest fast. Speak to your prospect's ego, not your own.

Another big mistake made in small business's marketing is to copy big business marketing. Creating image based ads that are designed to have your prospect think of you six months down the road is pure suicide for a small business. You must remember that these big corporations have millions of dollars to throw at ad campaigns and can afford to wait if they have to. You can combat this problem by using a more direct response style of advertising. Include an offer in all of your ads that has an expiry date to entice people to act now. You can't afford to wait till later.

If you can remember these tips when crafting your small business marketing campaigns, you'll be well on your way to a long and successful business life.

author: Cara McCarron

Why Your Small Business Needs a Corporate Identity Package

2009-12-18T16:45:00.000+01:00

If you’re like many small business owners, you might be wondering just what a corporate identity package is. And if you already know what it is, you might be wondering why your small business would need one. After all, you’re just a small business, not one of those big corporations. What’s in it for you?

Just as the name implies, a corporate identity package identifies your company to potential clients, suppliers and the general public. It includes your business name, small business logo, your logotype (just a fancy way of saying how things are placed, which font you use, spacing, and other things like that) your motto or company slogan, and associated printed material-- your business card, and letterhead, envelope and forms.

When you started your small business, you might have dreamed of becoming more than just another small business. Maybe you even dreamed about becoming a big business some time in the future. And even if you’re a completely practical entrepreneur and didn’t have those dreams, you need to attract customers in order to keep your small business open. A corporate identity package can help you do that.

Write a couple of big corporations, ask a question and request a business card. They’ll send your answer on their letterhead, in their company envelopes, and include a company business card. If you take a moment or two to look at big corporations’ identity packages, you’ll soon notice a few important things in common.

Their corporate identity package looks professional. What makes a big corporation look professional? I think one key is simplicity. Generally, a large corporation has a simple symbol or even just graphically represents their name as their logo. Take the Coca-cola logo for example. Or Toyota. Or Cameco Corporation. They’re all very simple.

When you look at their corporate identity package, you see quality. They use only high quality printing services and paper. Sure, that’s going to cost a little more, but it’ll be worth it in the end because its an integral representation of your small business’ image. You could print your corporate identity package yourself using your home printer, lightweight paper and business card templates, but how is that going to look? Will that produce the professional image you’re after?

Their logotype is consistent. Big businesses use exactly the same color for their logo and their background every time. They use consistent fonts. Their slogan for example, would consistently be in Times New Roman, never a different font or even a similar font, but exactly the same font, and always in the same proportion to the logo. Spacing is consistent. Spacing between letters and between lines is also always exactly the same proportion. Their secret is designing in vector form so their logo can be enlarged or reduced without changing proportion.

Their corporate identity package matches exactly. Their letterhead, envelopes, business cards all match. And if you ordered something from them, the invoice and the statement you’d get at the end of the month would match too. Perfectly.

Here’s another reason to take a little time to look at big corporations’ identity packages: you can use what they do to create an identity for your own small business. What they do works, and they do big business, so if you want to do big business too, why reinvent the wheel? Copy what they’ve done. No, I don’t mean you should copy another company’s logo. Just copy the way they’ve done things. Take their ideas and use them.
You probably don’t have the luxury of spending the amount of dollars a big corporation does on their identity. In fact, they sometimes spend millions on their corporate identity. So how do you get a professional look at a small business price?

You can do it yourself or you can hire a design professional to do it for you, sometimes at minimal cost, or even free. Here’s one idea. You can sometimes find good student graphic designers who’ll design your logo for you in exchange for allowing them to put it in their portfolio. In any case, if they do charge you a fee, it will be a whole lot less than what a professional graphic designer would charge. Besides it’ll feel good to be helping a “poor student”.

So, why should you have a small business identity package? What’s in it for you? If you do it right; if you have a corporate identity package that looks professional, is of high quality, has a consistent logotype, and matches perfectly, you’re going to look just like the big guys even if you’re the smallest business in town.

And if you look like the big guys, you just might have a chance to play with the big guys. And what if, just what if, your corporate identity package helped you, even just a little, to realize the dream you had of someday owning a big business when you started your small business?

author: Eve Jackson

Make Your Small Business Look Big With Virtual PBX

2009-12-18T16:36:00.000+01:00

Virtual PBX phone systems give you an advantage as a small business. They can make your start up or established small business look much bigger than it really might be. This can be key to gaining client's and customer's confidence and trust.

A virtual PBX telephone system gives you many advantages that big companies spend big bucks to have. First, the virtual PBX phone makes having a toll-free phone number so easy to incorporate into marketing campaigns. Customers looking for your kind of services may be more willing to dial up a phone number that does not cost them anything. They can also infer that you are a solid business based on the fact you maintain a toll-free number for the convenience of callers. Toll-free numbers can be used for all of your company's promotional efforts. You can even employ more than one toll free number to better manage promotional and marketing campaigns. For instance, you can use a separate toll free phone number to handle all calls from different territories where you sell your products. This can help you track results for your different advertising practices. You will soon know what is working and what is not. This is vital for those companies working on a tight marketing budget.

Toll free numbers are also likely going to increase your incoming call load. Utilizing a virtual PBX phone system will help handle all of the incoming calls as they come in, even if they are simultaneous. Callers will never receive a busy signal, which in some cases can lose business for a company. Customers can feel that if a company is too busy to answer the phone then customer service probably will not be consistent. Even if you are out of the office and someone calls into your toll free phone number, you can set the system to forward all incoming calls to your phone extension right to your mobile phone. Callers will never know you are away from your desk but will happy you are always available to answer questions or make a sale.

As small businesses grow, the virtual PBX phone system will grow along with it. The features that come standard will allow for more growth opportunities without added expense of extra equipment or increased pricing plans or contracts. Your presence in advertising never has to change just because the company is growing. Added staff can easily have access to phone extensions, even if they telecommute to work. If you are using third-party contractors, you can also link them to your communications system so you can offer a one-call option to customers and clients to satisfy all of their needs through one toll free phone number.

Small businesses have many opportunities to create an image of a big company using a virtual PBX communication system. From the automated features to the toll-free number, small business owners and entrepreneurs can quickly let customers know they are reliable and will also provide effective means of communication, which is very important during the initial stages of establishing new business relationships as your company grows into a big business of it's own.

author: Lee Percival

Forget About A Marketing Plan For Your Small Business

2009-12-10T10:04:00.000+01:00

Even as a small business owner, you probably invested a great deal of time and energy into creating a business plan. Most banks require a pretty thorough business plan before they will offer financing to you. Even if you didn't need financing, writing up a business plan is a good way to make sure you stay grounded and on track.

You are probably also planning on writing - or are already writing - a strategic marketing plan for your small business. But let me tell you right now, doing so will be a major waste of your time.

Unless you are already selling on a large scale; unless you already have a large staff; unless you have a marketing budget at least six digits wide, you will not benefit from having an in-depth marketing plan.

Marketing plans are for big-budget operations. They are for the big boys; the companies that you see on the news and in the papers. They are not for small businesses.

Small businesses almost never have the type of marketing budget that makes a marketing plan necessary. If you wrote up a marketing plan, most of it would end up being pipe dreams; pages full of things that you would like to do, but are not yet able to do. So why even bother?

Instead, be more focused and, most importantly, simple when it comes to your marketing strategy. By this, I mean that you should determine 2 or 3 (yes, just two or three) targets that you will go after with your advertising.

Put these 2 or 3 targets on a big poster-sized sheet of paper, or on a poster board. Also on this board, put your overall marketing proposition. This is the concise way in which you are presenting your business to your customers. Brainstorm until you know what it is about your product or service that is valuable to customers. Then decide how you are going to present that benefit to your targets. Put this into a short sentence or two, and put it on your board.

Now, keep your marketing "board" in a place where you will see it every day. And refer to it whenever you make an advertising decision. Whenever you design a new ad, before you send it to the commercial color printing company, make sure that it presents your marketing proposition, and that it effectively goes after one of your targets. Do not go through with any advertising campaign that does not live up to the board test.

That is it! Just a simple poster board with your overall marketing proposition and a few marketing targets. That is a whole lot easier than writing a marketing plan, isn't it? Plus, for a small business, it will be a lot more effective, too.

author: Charen Smith

Make Your Small Business Goals Count

2009-12-10T10:01:00.000+01:00

All small home based business owners must set goals if they plan to succeed. Success by chance is not duplicable; it’s just a happy accident. The process of setting goals on purpose can be duplicated over and over again to perpetuate growth and profitability. One way to ensure that your small business goals count is to make sure they are measurable, memorable and monetary.

Measurable goals are quantifiable.

Measurable goals focus on the numbers that tell you where you are right now in your small business development plan and where you want to be by a certain date. When a goal is too fuzzy or targets a result with no starting point to be measured you’ll never really know if it was accomplished. Goals that count must literally be based on something your can "count". Don’t count on goals you can’t measure to create your small business success.

Memorable goals are meaningful.

Memorable goals have a tangible impact on you and your small business. Because they make a big difference they count. These types of goals are often made up of a series of smaller steps whose impact is minor but once the goal is accomplished you feel great and it shows in your business. Don’t set goals whose impact is not felt by you or your small business.

Monetary goals are profitable.

Monetary goals show up as a positive increase on your bottom line. Every small business is accountable for how it uses money and the money it makes. When you set goals it’s critical to calculate the cost of implementing the goal and the return on the investment for achieving the goal. Everything you do in your small business should either make or save money. Set goals capable of bringing a positive change to your bottom line. That’s what really counts.

They are a lot of steps to setting small business goals. But, to achieve success you must make sure each of the goals you set count.

- Do your goals start and end with a measurable number?

- Do your goals have enough impact to be memorable?

- Do your goals increase your bottom line?

If all your answers to the questions above were "yes" your goals are measurable, meaningful and monetary. You’ve learned how to make your small business goals count.

author: Don Osborne

How To Destroy Your Competition

2009-12-10T09:57:00.000+01:00

Don't ever let those big companies bully you into conceiving that they are greater in excellence in some manner than your small business. They will make an effort to, but never let them get the best of you because the business world is entirely different now than it was 20 years ago. The launching of internet marketing has changed the whole game and the big guys should be filled with fear.

Gone are the days when it was all about how much money you could bring to the table. It used to be that small businesses couldn't afford to get in the same playing field with the big boys. Now it's not like that.

Yes it does take some money to market online, but it is now more about the tactics that you use and not the money that you have. It doesn't require an extravagant amount of money to competently market on the internet and get your website ranked right next to that of a large business competitor.

As a small business owner you just have to believe that you are in the same league with these big companies. If you spend the money that you do have wisely it can grow your small business to heights that you never imagined.

The essential task that you can complete for your business is to learn all that you can about search engines and page rankings. Research what you need to accomplish in order to increase your rankings and then get started. Write the articles, do the blogging, form the relationships necessary, learn effective SEO; anything to help you market your business.

I'm not saying that it is going to be easy, but what I really want to get across to you is that it is possible to grow your small business and compete with the big boys. Find your niche, know what your target market is and stick to it. Work with what you can manage and not with what you feel you can't handle. As a small business owner there is such an opportunity for you to grow.

Look for the weaknesses in the large companies because they are there and will end up being pretty obvious to you. If a larger company in your niche is falling short in one area then you can boost that area of your business. This will allow you to furnish something to the customer that the big guys can't. It may be that final piece to the puzzle to give you the advantage that you need to get ahead.

As a small business owner you are empowered and ready to take on the big companies. With the state of the online business industry right now it really is possible to make your mark and experience exponential growth in your small business.

This is especially true if you can find a proven automated marketing system that you can employ from the the comforts of your own home to create a six-figure income all online.

author: Don Downes

Big Business Marketing System - Discover the Secrets for Your Small Business

2009-11-28T08:33:00.001+01:00

It is a fact that all large companies use a marketing system to successfully market their products and services. They follow the marketing system because they know it works and as a small business, marketing your product or service you can also discover the secrets and be even more successful. The secrets of the marketing system will save you time and money and will allow you to focus on retaining your key customers, rather than always looking for new customers which you know costs your business a lot more.

As a small business you will have a system you follow to produce your product or service for your customers and by following each step of the system it makes your business run smoothly. The secrets of big business marketing do not mean you have to have a large marketing budget; in fact you can use the marketing system with any size marketing budget.

The 4 steps of the big business marketing system are:

Step 1- Review Your Market and Business
This simply means you need to know what is happening in your market, whether it is growing or declining, are there seasonality factors etc. Understanding your key point of difference to your competitors is crucial so you can take advantage of their weaknesses and defend against their strengths. Knowing what your customers think, feel and how they behave towards your product or service mean it will be easier to retain them as long term customers. Finally having a good understanding of your business's results in sales and previous marketing activities will mean that you can focus on areas that have worked for you. Big businesses do this review and analysis throughout the year so they can be more proactive with the marketing of their products and services.

Step 2 - Develop a Marketing Plan Each Year
Without a simple and practical marketing plan, as the saying goes it is like sailing a boat without a rudder. In other words if you do not know what you want to achieve for your small business each year how will you know if you have been successful. What is more, you could be wasting your money and time on marketing tactics that just do not achieve anything and in a worst case lose you customers. By completing step 1 you will have a lot of information that makes it very easy to develop a marketing plan.

Step 3 - Implement Your Marketing Plan
This means implementing the marketing tactics you have selected in your marketing plan, which allows you to be more proactive throughout the year as they are pre-planned.

Step 4 - Track Your Results
This is an important step because you must know what is working for your business and want is not working. By tracking your sales results and your marketing activities on a regular basis means that you can be proactive with your marketing throughout the year. Also the key learning you gain will assist you with future business decisions and of course will make developing a marketing plan for the next year so much easier.

Four easy steps to follow throughout the year are the secrets of the big business marketing system and as it has worked for them over decades it can work for your small business as well.

author: Susan Oakes

7 Reasons to Think Big With Your Small Business Marketing

2009-11-28T08:27:00.000+01:00

A small business can be perfectly formed. It should be small in size, but not in mind. Although large scale businesses often have inbuilt waste, thinking too small in your marketing will not let your business grow and develop. Here are some of the reasons to continually think big:

1. You get a better price when you buy more. Whether you are buying leaflets, business cards, or number of pages on your website the incremental extra will cost less and has the potential to give you a better return.

2. Think bigger to get better results. If you decide to go for something go for it. If you join twitter join twitter properly, if you have a new blog post every day, if you are doing a leaflet drop don't just walk round one or two roads. There is something about doing more that creates the energy for more to come back to you.

3. Being bigger as a person wins you more business. Nobody likes to be sold to, but we all like to buy from someone we know like and trust. If you are the head of a small business you are not doing yourself or your potential clients any favours by staying in the background and not speaking out. You may have to force yourself the first time, but once you get a favourable reaction - and you will - the response may surprise you.

4. Know the big point of it all. Not only the point of your business, but why you are doing it, personally. Thinking big and keeps you out of the million small details that can erode your life and work. If you know the point of it all, it will be easier to know what to do along the way. How long you want to have the business, for example, will guide how quickly you want to achieve guru status. Or if you want to sell the business in three years time that decision will shape how your approach to the market, your products and how much PR coverage you want right now.

5. Make your message fit with something bigger than just your product or service. Appeal to big picture values and be in service of something that has the potential to change the world. When you have spark and inspiration working for you it all becomes more enjoyable, and you are very attractive to the right audience. In fact you will have a lot less "work" to do!

6. Have a bigger product in mind. People will want to buy from you when they gain from your approach, so don't short-change them and send them to a competitor. Have the next big product lined up and ready..and the one after that .. and the one after that.

7. Be bigger than your business. You are a human being with a life. Giving yourself the freedom to have time off, and not do things related to the business pays dividends. It ensures that you are enjoying yourself (which will attract clients to you), and improves the quality of your experiences, and of what you bring to your own business. It also helps you to understand others better.

You may only have a small business but it will be the perfect size if you think big. Focus on customers when marketing your small business.

author: Jean Wolfe

How to Make Your Small Business Survive in the Dynamic Business World

2009-11-28T08:19:00.000+01:00

When you see the names of famous entrepreneurs being published in newspapers and magazines, you cannot help but imagine yourself in their place. You also probably ask yourself how they succeeded.

Many successful internet entrepreneurs started out small. So if you are thinking of starting out your own small business, then brace yourself for the following tips:

A small business is more likely to survive against a dynamic business world if there is focus. This means focus in the services or products to be introduced as well as focus in the market. Premature expansion of a small business can lead to failure.

Small business owners must have tactical and strategic plans about the business. Be able to look for long-term goals yet be able to handle what's at hand.

Be capital smart. Of course, when it comes to capital, you cannot yet compete with big and established businesses. Have sufficient capital plus additional funds available for changes and adjustments.

Have a dependable team. Human resources are one of the most important components of a small business. Whether your team is composed of two persons or ten, they must be reliable and must share the same goals and attitude.

Have sufficient market and competition knowledge to be able to survive as an internet entrepreneur. Test the market first and be flexible with whatever is needed.

Have a product or service that will stand out eventually. Market and a product or service that makes your business unique. Slowly but surely, you will belong to the list of names of famous entrepreneurs.

Practically anyone can be an online businessman but the more difficult part is on how you become successful with your chosen field. There are certain facts you need to know in order to become a successful internet entrepreneur.

author: J.J. Yong

Five Big Mistakes that Could Ruin Your Small Business and How to Avoid Them

2009-11-22T21:02:00.000+01:00

Many small businesses are stuck in limbo. Sales are sluggish or stagnant, and many small business owners have worn themselves out trying to be all things to their businesses. There are five big mistakes that small businesses often make that hamper growth and hinder business success. But, by taking some time to develop your small business, you can avoid these common mistakes. Even if you have made some of them, you can rebound and get your business back on track.

1. Focusing on getting the big customer. According author Rhonda Abrams who penned the book “The Successful Business Plan: Secrets & Strategies”, small businesses focus on getting that one big client instead of many little ones. But, what happens if you don’t get the big customer? Are you taking care of your smaller ones? They can make or break your business. It could be worse if your neglected smaller customers left you than if the one big customer left. Together, your small clients pack a powerful punch.

2. Not diversifying products and services. Today’s customers look for products and services that offer them more value - both in the wallet and in the product or service offered. If you don’t diversify, your competitors will. They will entice your customers away with sweet deals and aggressive sales. Consider repackaging products and offering incentives like coupons and discounts. Bundle services to create a more comprehensive, packaged service offering.

3. Poor pricing models. Your pricing must be competitive with the market you are serving. Price your products and services too low and customers won’t buy because the perceived value is low. Price them too high and you could knock yourself out of the market.

4. Not creating a unique selling proposition. Web accessibility has fueled a shop around mentality in consumers. Every competitor out there is touting service and price. And, that’s okay. But, you can’t jump in there with the same thing. You’ve got to give prospective customers a compelling reason to choose your products or services over the competition’s.

5. Trying to go it alone. Big businesses aren’t created from one person handling everything in the business. They are created by partnering, hiring and relying on the expertise of others. You can’t be successful trying to be all things to your business. There is just too much to do and not enough time for one person to do it. Get help by adding staff or outsourcing.

So how do you overcome these obstacles to your businesses success or fix mistakes you’ve made? Take stock in your business and focus on business development.

Business development is not just for large businesses. Small business owners can benefit from business development, too. Whether your business issue is ineffective pricing, inefficient processes or poor marketing strategy, business development can put your business on the fast track to success by helping you get organized, fill your pipeline with customers, increase profits and avoid or rebound from mistakes.

Every decision about your business rests squarely on your shoulders. One wrong move could put you out of business. Are you willing to make the move necessary to make yours succeed? Have you considered hiring a business development consultant? This is the time to do that.

author: Guy Madison

10 Financial Yardsticks for Your Small Business

2009-11-22T20:51:00.000+01:00

Time and again, accountants and consultants who specialise in small businesses say that such enterprises don't pay enough attention to cash flow. That's the measure of how much money you really have in the business.

Be Wary of Big Contracts

"Small entrepreneurs wind up taking big orders that get them in trouble," says Ronald Lowy, who heads a college business administration department. "They want the big contract, but they're not getting enough money at the front end of it and they don't have the cash reserves to pay workers and other bills while they're waiting to get paid themselves. They might show a profit on an accrual basis, but from a cash-flow standpoint, they don't."

Judith Dacey, a certified public accountant, calls a cash-flow statement "probably the most important thing in telling you if your business is on or off target." As an example she describes how board members of a non-profit group were not examining their cash-flow statements.

"They were hiring people and spending money on membership campaigns, and doing all of these things based on money they thought they had from looking at the profit-and-loss (P&L) statements," Dacey says. "They didn't realise that the profit-and-loss statement was an accrual statement, which basically means you are including paper promises of payments to come, not money that you have in the bank."

The non-profit board became aware of the difficulty only when the organisation bounced a check. Employees had to be laid off, and belts were tightened. "That could have been avoided if they'd seen the cash-flow statements," Dacey says. "A cash-flow statement tells you here's the cash that has actually come in and that you can work with."

A statement of cash flow starts with the bottom of your profit and loss statement — the line that shows your net income. Several adjustments are made to that number. The details are a little complex but a good accounting program that does a P&L and a balance sheet will also calculate this statement for you.

Tracking the Big 10

If you've established a way to track cash flow, then you can go on to organise and track 10 financials for your small business. That's a big list, but don't panic: As with profit and loss statements, you can take advantage of software programs to automate tracking for many of the following:

• Your Assets

Tracking your equipment, furniture, real estate and other holdings should be easy. But to have a true idea of the value of your business, you also have to track changes in the value of those assets. More than one small business has found itself located on a piece of land that's worth more than the business itself. Similarly, you also will want to track the declining value of assets such as computers and office furniture.

• Your Liabilities

On the face of it, this is easy — liabilities are what you owe. But what you owe isn't always as obvious as a bill from your landlord. Payroll taxes are a liability that depend on the size of your payroll. Loans are a clear liability, but in repaying them you'll want to be able to track how much of a payment is applied against principal and interest.

•What does it Cost You to Produce What You Sell?

If you're buying a finished item for resale, this is relatively easy. It's trickier if you have to calculate all the factors, such as labour, that go into manufacturing a product. .

•What's it Costing You to Sell What You Sell?

Advertising, marketing, labour, storage and the catch-all category of overhead — it's useful to know how much it costs you to get a product sold as well as what it costs you to create it.

•What's Your Gross Profit Margin?

This is calculated by dividing your total sales into your gross profit. If your gross profit margin is staying consistent or trending upward, you're probably on track.

Being able to track a declining margin can give you a heads-up that you must adjust your prices or your costs. In the worst cases your gross profit and profit margin disappear altogether. At that point, you'll be like the fellow who lost money on every sale but figured he could make it up in volume. Don't do it.

•What's Your Debt-to-asset Ratio?

This ratio can let you know how much of the stuff you have in your company is actually owned by someone else — your lender. Having this ratio climb can be a bad sign. It can happen as part of a major expansion, but it can also indicate that you're getting in over your head.

•What's the Value of Your Accounts Receivable?

This is the money you are owed. If accounts receivable are on the rise, you may be getting a warning that the folks you sell to are starting to stumble.

•What's Your Average Collection Time on Accounts Receivable?

This is probably one of the most aggravating pieces of information for cash-strapped businesses, because it tells you how many days you're acting as 'banker' for the people who owe you money.

•What Are Your Accounts Payable?

The flip side of accounts receivable. An increase in your accounts payable may merely reflect a larger amount of purchases overall. But an increase that hasn't been planned or managed can be an internal warning that your company's financial strength is waning.

•What's Happening With Your Inventory?

There are occasions, even in this just-in-time business world, when building up a significant inventory can be a good thing.

If prices for items you sell or use in production are relatively low, putting some of your money into inventory may make sense.

Being able to track your inventory can tell you whether business is increasing or slowing down. It also tells you how much money is tied up in this unproductive asset.

Knowing what's up with your cash flow is essential to your business. But sometimes the figures can be difficult to understand. Don't ever be afraid to turn to professionals for some help.

author: Joseph Anthony

How to Avoid Failure in Your Small Business Advertising

2009-11-22T20:43:00.000+01:00

Small business advertising shouldn’t be done like most of the advertising you see on T.V. … or hear on the radio. There ARE exceptions, of course. But for the most part, small businesses shouldn’t do much of the following:

1) Institutional advertising (a.k.a. “Madison Avenue” type advertising).

2) Public relations or simply publicity seeking.

3) Any type of response advertising that's non-measurable.

The kind of advertising you SHOULD be doing is measurable. By this I mean you can …

a) … control costs.

b) … measure results.

Small business advertising that doesn't fit these criteria is mostly like throwing money down a hole. (Like I said, there are exceptions. But if you try to promote your business using public relations you’d better have a business that can benefit from that …plus get the help of a professional who specializes in it.)

Institutional … Madison Avenue type stuff … doesn’t work in small business advertising any more than it effectively works for big companies using it. It’s just that big companies typically have big budgets they can spend on bad advertising without going under financially.

That’s a luxury most of us don’t have.

Direct marketing is different. You can control its costs. Taylor it to your ad budget. And measure its effectiveness based on response to the offer in the ad or sales letter.

Examples of response triggers used in effective small business advertising include:

* Phone calls asking for a direct response … like a sales appointment … or a purchase … or an invitation to come into the store with a certain customer “code” one can use to receive a gift or purchase discount.

* A TV or radio commercial that asks for a direct response … like having the customer write or call in and tell what station they heard the ad on to get a free gift or special discount.

* Any type of media that asks for a direct response … like redeemable coupons sent through the mail … a sales letter send through the post or Email, with an invitation attached for a special “after hours” sale … a postcard offering a 2 for 1 restaurant special … or an invitation to call in and ask for free information.

Your small business advertising is going to be very wasteful unless you make the right offers to the right people. Being in tune with the needs, desires and motivations of your potential customers is crucial.

For example … if Jack’s Sporting Goods store advertises a 30% discount sale on all golf equipment by sending 5,000 brochures through the mail to nearby residents the waste-factor is going to be extremely high.

After all, how many of those residents are golfers? Probably only a small percentage. And of those who are golfers, how many of them will come in for Jack’s sale?

In this case, most of his small business advertising dollars are wasted.

However … if Jack takes that same offer … and sends it directly to 500 golfers in his area the response will be much higher. He’s able to get the names and addresses of likely golfers from a list broker by renting the names of people in his area who receive golf magazines.

See the difference?

Jack doesn’t even have to mail out all 500 letters at once. If his budget is a little tight, he can stagger his mailing over a period of days. Or even limit the sale to those bringing in a coupon received through his mailing to test the effectiveness of his direct mail campaign.

Any small business advertising failing to …

* offer a free gift(s)

* give a time limit on the offer so buyers will be motivated to act quickly

* award a bonus or premium of some sort just for coming into the store

* present a sale or discounted pricing

* announce something new (i.e., product, service, price)

… should be avoided. As a matter of fact … the more of these elements in your advertising the better.

An ad containing each of the above ingredients … targeting prospects known to be interested in the product/service… stands a very good chance of being a winner.

Your small business advertising doesn’t have to fail. Once you learn the key ingredients you’ll never again worry about throwing advertising dollars away.

author: Joe Farinaccio

Boost Your Reputation As a Small Business Owner

2009-11-15T20:52:00.000+01:00

Starting a small business can be one of the most challenging and rewarding experiences for an entrepreneur. The most vital time is when your business is in the developing stages. Unfortunately for many small businesses, they are often drown out by larger firms. As big firms soak up a majority of the clientele, smaller businesses must fight to acquire the few customers that remain.

The first important step is to understand why this happens. Oftentimes, customers are discouraged from requesting services from small businesses. Taboo notions about small businesses such as inferior performance, high prices, or untimely completion of a task can send customers looking elsewhere for a service. Your goal is to create a company image that makes your company look like its larger counterparts.

Dress the Part. First impressions are always important. You want your customers to know that you take care of yourself and care about the way you present yourself. Make sure that the employees who work for your company always look presentable. It is imperative to point out that this is not a 'on size fits all' standard. You must determine what clothing choices are right for you and your company. It would be silly for a plumber to show up at a customer's house in a shirt and tie. While a t-shirt and jeans may be appropriate for this type of work, you should make sure that your pants and shirt are free of stains and holes.

Consider Your Company Name. You should also take the name of your company into consideration. Customers can often judge the size of a company by the name. This may sound silly, but unfortunately it is sometimes true. Think about it. What sounds more professional - 'Computech Solutions' or 'Bill's Computer Repair'? If you are already fairly well established, a name change probably would not be the wisest decision. Let the reputation that you have established with your customers speak for itself. On the other hand, if you are just starting out or are in a position where a name change is feasible, take the time to consider your company name thoroughly.

Personalize Your Materials. If you want to roll with the big companies, you need to cover all of your bases in transforming your image. Invest in creating a letterhead, envelopes, invoices, and other documents with your company name and logo. These items can make your small business look very sophisticated and professional.

Encourage your Customers to Refer You. The reputation of many companies is influenced by the opinions of other consumers. A company that performs poorly will develop a poor reputation based on what consumers say. The same is true for a business that performs well. For example, if you are looking for a mechanic to work on your car, you will most likely choose one that has a good reputation among your peers. Encourage your customers to refer your small business by offering incentives such as discounts or free services.

Stick to Your Specialty. While this seems like common sense, many small business owners and entrepreneurs make this mistake. When a business is starting up, it is sometimes hard to keep your customer schedule full. Oftentimes, small business owners will take on a job that they know they shouldn't because it is an opportunity to make some much needed cash. If this job isn't your specialty, you may end up hurting your company's reputation due to unacceptable performance. Just because an entrepreneur operates a lawn care business doesn't mean that he knows how to install a sprinkler system. Sure the extra money may be nice, but it isn't worth the risk of potentially losing business from this customer and his friends in the future.

Operating your own company can come with its struggles. For this reason, it is very important that you don't make these common mistakes. The reputation that you make for you and your business can and will determine its success in the future.

author: Brandon Miller

Promoting Your Small Business

2009-11-15T20:44:00.000+01:00

As all small business owners know, promoting their business is not an option—it’s a prerequisite to any successful business plan. And successful small businesses look for the most cost-effective ways to reach their target market.

How does a small business compete against the big guys out there who can possibly offer more for less? What are some key promotional principles guaranteed to gain the attention of the public and generate sales? In today’s world of high technology, how does a small business get a potential client’s attention?

Big Business Versus Your Business

As we’ve all seen over the years, big businesses are buying out many of the small ones. Large corporations are merging, sometimes making it difficult for small businesses to thrive. Large bookstores, for example, can offer huge discounts to the public, while the little bookstores strive just to make a buck. But we’ve also seen many companies downsize, resulting in employee lay-offs. Many people who have lost their jobs have started their own businesses and are quite successful. But the question remains, how does a small business compete against the big guys?

There are certain advantages to owning and operating a small business. The fact is you can get to know your clients and customers more personally. If you give them special benefits, bonuses, discounts and other incentives, your customers will sense that they are not just a number. A personalized letter or newsletter, an invitation to a special function, a coupon book—all these are tools that can help you compete against the big guys. Take advantage of the fact that you can cater to your individual customers. Custom-designing your product or service to your individual customers can go a long way toward providing satisfaction and earning long-term loyalty. Learn your customers’ names and keep up with any personal or business information they’ve shared with you. Friendliness can make the difference between repeated sales or no sales.

Promoting Your Business

When it comes to promoting the small business, there are some important things to keep in mind. Each year, as you plan your budget, make sure to put aside a nice chunk toward advertising and promotions. Create a month-by-month promotional plan. In that plan, keep in mind special sales and incentives you can offer your customers.

Keep in mind, too, that a month-to-month promotional plan doesn’t mean you have to spend money each month to get attention. Take advantage of free publicity. For example, send out a press release announcing a special sale, new product or service, or a change in the organization. Well-written and timely press releases get the attention of the media. News and feature articles that highlight businesses are written by assigned reporters.

Another way to save money and stay within your advertising budget is to participate in co-op advertising. Co-op advertising simply means teaming up with another company to promote a cause, product or service. Also, consider bartering your services with other companies. For example, some radio stations will let you run radio ads in exchange for whatever product or service you provide.

Newsletters are another good way to promote your business. They not only serve as a general public relations tool to promote good will, they also remind customers of the advantage of owning your company’s product, provide ideas about different ways to use that product, and introduce new concepts and models. Including interesting feature stories unrelated to the product can be a nice way to keep your readers’ attention. Including fun tidbits of information can make good fillers, too.

Other simple ways to promote your business include:

Creating a website
Creating brochures about your company and/or specific product brochures
Developing a series of ads to run in a magazine, newspaper or other publication
Originating creative ideas for radio, television, direct mail or billboard advertising
Hosting in-store or office open-house events
Developing a packet with photos, fact sheets, articles, brochures and other information to distribute at trade shows and other special community events

Internet Advertising

Selling via the Internet has become a more viable and therefore increasingly popular alternative for small businesses. Some open a shopping cart or sell on Ebay. Others create Google ads that bring hundreds and even thousands of dollars of business to their company.

Could your business benefit from advertising on the net? Do you provide a product or service that has mass appeal?

Promoting your small business can be exciting as you watch your promotional ideas generate leads that turn to sales. Most rewarding is the satisfaction of running a successful and productive small business that provides for the needs of your community.

author: Patricia Williams

How to Land a Large Contract as a Small Business

2009-11-15T20:35:00.000+01:00

Landing a large client can be very difficult for small businesses to do, especially in certain industries. However, there are steps that you can take that will make your small business more appealing to a large client. Below you will find five steps that you can take that will help make your business proposal outshine those offered by larger companies.

Step #1 - Define What Makes You Special

The first thing that you need to do to attract a large client is to define what makes your company special. What makes your company special can be related to your company in general or to specific assets that your company owns. For example, you can highlight the awards that you have won for customer services, quality service, quality products, product innovations or product designs. You can also highlight your company's assets such as employee talent, patents, trademarks and business relationships.

Step #2 - Demonstrate Your Ability To Delivery

The next step is to demonstrate your company's ability to deliver on your promises. Large clients need to know that you have the assets to complete their orders on time and to deliver on time. You can demonstrate your abilities to delivery in several ways including presenting your sales figures from past years and presenting productivity reports from the last several quarters. You can also present a proposal that your company will use to increase staff and equipment to meet the contract requirements if you are awarded the contract.

Step #3 - Highlight Incentives of Working With Your Company

There are many incentives that can be used to entice a large company to do business with your small business. For example, you may want to point out government grant programs and tax incentives given to large companies that do business with small businesses, or that work with minority owned businesses. You can also highlight job creation grant programs that could help cover the cost of a portion of their contract.

Step #4 - Know What Your Clients Want

When you submit a proposal to a large client you need to format the proposal so that it appeals to the client. This means using terminology that they are familiar with, implementing strategies and technologies that fit with the potential client's corporate culture and that highlights how your company will work to help the client meet their mission goals and objectives.

Step #5 - Remain Professional

Professionalism is key when approaching a large company for a contract. You need to look as if you know what you are doing and that you will be able to handle a large contract. If you are trying for an international contract, then you will also need to learn business strategies and philosophies held by the home country of the company you are dealing with.

author: Eisla Sebastian

Boost Your Reputation as a Small Business Owner

2009-10-23T22:47:00.000+02:00

How to Make Sure Your Small Business Succeeds

2009-10-12T12:21:00.000+02:00

With the majority of small business owners cutting costs and trying to find the most cost effective way to keep in the game, it's time for innovative business owners to get creative and grasp this opportunity to grab market share.

Instructions

Step 1

Confirm that your business will end up stronger when the economy starts its rise to strength: As business owners, when money starts getting tight, sales are down and costs are going up our first instinct is to cut costs. But knowing which cost cuts are actually going to help is an art, not an instinct. We are all familiar with the terms COGS (Costs Of Goods Sold,) Operating Costs, Gross Profit and Net Profit but if you don't really know if your Gross Profit and Net Profit can be improved with your current sales volume you don't know if cutting costs will help or hurt your business. Take a couple of hours with your current financial statements, your bookkeeper or your box of bills but don't get too caught up in yesterday. Today is here and Tomorrow is coming quick so cut you're "known" fat and move forward with confidence in your ability to boost sales and keep or reduce your marketing budget.
Step 2

Know your customer as-well-as if not better than your product: We're all just as confused about who still has disposable earnings as President Elect Obama but if we don't know who needs and or wants what we sell we are not in the right business. Identifying our target customer is key in marketing and achieving or exceeding our market share. We may not have thought about our best customers, the people who already bought from us. There are thousands of ways to get to know our customers, we just have to choose the best one for us and follow up.
Step 3

Never leave money on the table: In order to succeed and grow in an unstable economy we need to be able to read our customer successfully enough to know that the sale is complete. And by complete I really mean maxed out. Once we learn how to diversify our products and services to our customer's needs we have learned how to leave the table with that comfortably full feeling.
Step 4

Know how to keep customer leads from drying up: Now that we know how to keep our operating costs consistently lean, we know our target customer better than we know our 18 year old sons and we know how to max each and every sale we have to be able to increase our possible customer bas with a constant flow of good qualified leads. Getting these leads will assure us of a never ending supply of sales.
Step 5

Get help form the Effective Marketing Experts: We've all seen the 1,356,000 search results when we search Marketing ideas, Marketing Help, Sales Help, some of us may have even spent a few thousand dollars getting a Salesman to teach us to Sell but the fact-of-the-matter is that the majority of business owners are not born marketers. There are very few born marketers in this world but there is no reason why we can not learn from their expertise without spending more than our businesses can afford. There are proven sales methods that can be adapted to our products and services that will give us the ability to increase our sales and thrive in any economy. I have even listed an eBook in the reference section that covers all of these steps in detail and gives all small business owners a way to exceed even their own expectations. I listed it specifically because it has proven to me that even a Bookkeeper can sell and that was a hard sale for me.

Tips & Warnings

Have Confidence
Identify Your Customer
Never Leave a Sale Half Complete
Qualified Leads are Still out There
Never spend Money on Help that Doesn't have a Guarantee

author: Cheryl Hinkson

How to Act Big while Behaving Small

2009-10-12T12:11:00.000+02:00

Acting Big is different then Behaving Small. This is something very important for smaller companies to do. In today's world it is so easy to appear like a big corporation and thus, get clientele. This is Acting Big. However, you must realize that you aren't. This is behaving small.

Instructions

Step 1

Looking Good

In today's world a website is a must if you have a business. The good news is that a small company can look just as good as, if not better, than a large corporation if they have a great website. The trick is being able to sound intelligent and come off looking professional.
Step 2

Acting Right

Act like you're a real business. If someone wants to use your services you don't say something like, "I'm so glad you picked me. You see I work in my basement right now but I'm sure I'll get bigger eventually." Act like you are competent and have control. Be confident in your abilities.
Step 3

Admins

Your Administrative Assistant is a great way to make your company look big. They are a gateway to the business. If someone comes into the office they have to go through the admin. If they call the admin will usually answer. They make your company look really good! They also help you do all the difficult Administrative tasks. However, while your admin may seem to do menial tasks like typing or filing, realize they are not menial. These tasks are hugely important to they companies success. Never treat your admin small. They are your most important hire!
Step 4

Leave A Message

A phone system can be a life-saver. However, it can also be a common pitfall. Too many small businesses give away their size to potential clients by giving them direct access to the decision makers. If you have different "departments" to forward to you will seem bigger and more professional.
Step 5

Escalation

Even if you don't have a defined "ladder of authority" in you business you should not always allow direct access to the boss, whether you or another individual. If you do your clients may get too comfortable with your company and take advantage of you. Maintain a level of professionalism and create the needed buffer between you and the clientele.
Step 6

Do Without

Because you are a small business you can do without things that large corporations have. A large staff, a huge building, loads of lawyers, planes, etc. Because of this you can run a leaner, meaner company than many large businesses can. Their girth seems to slow them down a bit.

Tips & Warnings

See a pattern? If you want to come off as a big-time company you MUST be professional. No wonder it's Step One!

Resources

by: spacebrown

Can a Small Business Be a Big Brand?

2009-10-08T09:01:00.000+02:00

Do you think of your business as a brand? Because it is one, whether you view it that way or not. Even if it's just you, a solo-professional, working out of your home. Even if yours is a small local business marketing to customers in your own hometown.

It's still a brand.

The question is, is it a strong brand?

Does it stand for something?

Does it have an image?

Does it create a perception in your prospects' and clients' minds?

Either way again, the answer to these questions is yes.

But if you haven't taken steps to create your own brand, your brand may not stand for what YOU want it to stand for. Instead, you've left if up to your audience to create that meaning.

When I started my business, my brand started with an idea. The idea that marketing doesn't have to be complicated. And everything that I've done in building my business, from naming the business, to getting a logo, to writing my tagline, to building my website, to creating my products and services, to writing my blog have been focused on supporting that one central idea.

It's all been focused on creating a brand that stands for simple, step-by-step marketing.

Every decision I make, all the marketing I do, is focused on staying true to my brand.

I've never let the fact that I am a company of one, or the fact I don't have a big marketing budget stop me from focusing everyday on creating my brand.

I encourage you to take a look at your business.

Have you created a strong brand?

Or, have you just been doing business?

It's never too late to start developing your brand. And when you do, you might just be surprised to find out that you're building your business at the same time.

author: Debbie Lachusa

Benefits of Transforming Your Small Business to a Big Company

2009-10-08T08:56:00.000+02:00

In the formation of a business, an ideal entrepreneur always has to be a future oriented business person. He should project of how his small business unit will evolve and grow to become a big corporation. With time and strategic planning, he should replace himself as the sole manager and install a board of directors to take up his functions.

The commonest way to increase the size of a firm is by increasing its capital base. Some methods to achieve this could be, plough back profits, taking loans or engaging in financial partnership. More capital means more funds will be available to increase factors of production like labor and hence increase scale of operation. A firm with a strong financial base will also enjoy certain advantages, for example, they can obtain loans at low interest rates and their assets can act as collateral.

Availability of funds will enable a business to employ qualified staff. This will lead to division of labor and specialization hence increase output. Qualified staffs are able to make viable decisions that can go a long way to necessitate a company's growth. It will also enable the business put in place better organizational structures which will allow departmentalization and subsequently division of labor.

As the scale of operation increase, the company is able to buy and sell goods in large quantities. Such a company is likely to get trade discounts. It is also likely to incur less cost per unit in transport, advertisement and distribution.

With effective planning, coordination and directing initiatives by the management of a company, economies of scale will increase. Once a firm turns large-scale, it will further be able to enjoy such benefits as research in new production techniques, new market and new products are being introduced.

author: Belsheba Nyabwa

9 Tips on How to Make a Small Business Successful

2009-10-08T08:51:00.000+02:00

1.Develop a thorough business plan.

The kind of cash flow analysis you do upfront will determine -- to a large extent -- how well you can weather variations in sales, inventory, and customer interest. You can compile a business plan yourself or outsource the job to a professional company.

With a profit and loss statement, a budget, and a projection of cash flow in place, you can figure out precisely how much money to allocate to various strategies and systems, and buffer yourself against new competitors and industry changes.

2. Concentrate on your core competency.

According to the book “Good to Great” by world renowned analyst Jim Collins, the most successful businesses -- large and small -- focus on doing one thing extremely well as opposed to many different things moderately well. Collins describes this competency as the business’s “hedgehog concept." This comes from a famous Aesop’s fable about the Hedgehog and the Fox. As the story goes, every morning, the Fox attacks the Hedgehog in a different way. And every morning, the Hedgehog defends himself by rolling into a tight ball. The Fox never actually succeeds in hunting the Hedgehog. The moral of the fable is: “the Fox knows many little things -- the Hedgehog knows one big thing.” Statistics bear out that enterprises that focus on a single Hedgehog concept tend to succeed more often.

3. Get the right people on your team and the wrong people off of your team.

As a small business owner, you work intimately with your employees. It can be difficult to let go of people who have served you loyally for years. However, if you have inadequate, inexperienced, or otherwise incompetent people working for you, your business will inevitably suffer. Conversely, if you have great employees who understand what your business is about, how you intend to optimize strategic opportunities, and what your end-goal for company is, you are much more likely to do well over the long-term.

4. Shield your personal cash and assets.

If you start a business from home, for instance, consider incorporating. If you are going to be outlaying your cash upfront for start up costs and the like, going corporate will help shield your assets if your business fails, if your company gets sued, or if your business incurs other significant liabilities.

5. Generally, keep things small until you can prove concept.

Even if you have a big loan to jump-start your business, work to keep things as frugal as possible -- particularly in the first six months. The vast majority of small businesses fail at start up. Even the most insightful and well-prepared entrepreneurs fall flat on their faces now and again. Give yourself room to fail, and you will be far less likely to get stressed out about the day-to-day numbers coming in and far more likely to take the smart but necessary risks you need to bootstrap your way to success.

6. Get critical contracts in writing.

Sure, you can do some business based on a handshake. However, your company will likely (hopefully!) expand in the near-term. Contracts worth just a few hundred dollars today could easily balloon to 20-50 times that much within a year or two. Getting in the habit of creating a sound paper trail will protect you against liability down the line and help you make a more organized transition to a medium sized corporation.

7. When it comes to customer service, under promise and over deliver.

When canvassing for new clients, it is tempting to make grandiose promises of low costs, fast delivery, and super high quality. But if you break your back (or your company’s bank) meeting these promises, you are not doing yourself any favors. Set modest expectations for your customers, and then strive to beat those.

8. Treat your employees as well as or better than your customers.

This may sound counterintuitive. But some studies suggest that putting the employee, rather than the customer, first actually makes businesses operate smoother. Ironically, this also appears to contribute to better customer service. The reason is that employees who feel like that they have some ownership in a company tend to take more responsibility for their behavior, pass along good “word of mouth” advertising about your brand, and forge more personal relationships with your customers. The In-N-Out burger chain in Southern California has succeeded for decades by pursuing this classically counterintuitive customer relations formula.

9. Stay out of debt, and keep all financial maneuvering above board.

By keeping up good credit, paying your state, local, and federal taxes on time, staying up to speed on payroll, paying your insurance and mortgage payments precisely when they are due, and otherwise successfully juggling your assets and liabilities, you’ll have a much easier time adapting to vacillations in the market.

source: articlebase

How to Start a Small Business and Make Big Money

2009-10-02T03:21:00.000+02:00

If you want to be in business for yourself, avoid the most common mistakes many people make to increase your profit margin and make big money. Decrease your overhead.

Step by Step Instructions

Step 1

Rent is a huge expense. Can you operate your business without renting a commercial space? Can you see clients at their location or use some portion of your home for your business?
Step 2

Equipment can eat up your start up money in no time. Can you make do with your home computer, and tools that you already have or buy second hand?
Step 3

Do you really need employees? I know plenty of electricians, plumbers, carpenters and other service people who carry a cellphone and answer it themselves. Even when they're busy, their cell phone is taking messages. That eliminates the need for a person to answer your phone. How about hiring a book keeper to come in once a week for a couple of hours instead of hiring a full time accountant. If you must hire employees, hire in your own family or from the teens and kids in your community. They cost less and you'll be giving them a head start.
Step 4

Advertising is expensive! Think about how you can utilize some other promotional ways to get the word out.

- Put a sign on your car or truck and leave it parked in a public parking lot in a busy area. Move it after a few days to another busy spot so you expose the maximum number of people.
- Put fliers up on bulletin boards.
- Contact the Chamber of Commerce and see if any up coming events need gifts or prizes donated and then donate your product or service - make a nice coupon for them to give the winner.
- Create a contest sponsored by your business and advertise it on your local Craig's List section.
Step 5

Don't borrow money or buy on credit or use a credit card if you possibly help it. When you buy on credit you're throwing a big percentage of your hard earned money to the wind as interest for that loan.

Tips & Warnings

Start small, grow slow, and even though your gross income might not be so big, more of it will be YOURS.

source: eHow

Three Small Ways to Make a Big Difference in Your Business

2009-10-02T03:15:00.000+02:00

We often think of change as BIG things. But changes don't always have to be big; in fact if we make those changes into smaller, more manageable chunks, the likelihood of succeeding in them will be much greater.

Here are three small ways you can begin to make a BIG difference in your business.

1. Break all tasks down into small pieces. I just started working on my first book; however, I found myself procrastinating. I kept saying "write a book, that seems hard." So I would put it off and put it off. Finally, I decided to just write a chapter, someone if suggested to just write a sentence. That felt so much easier, you mean I can just write a chapter, not a book? See the difference. Look at your big tasks and break them down. What if you wrote one page a day for a year? That's 365 pages, that's definitely a book. You can do this with anything that you are working on.

2. Schedule focused, uninterrupted time. Turn off the email, turn off the phone and just get it done. One hour of uninterrupted time could equal hours of frantic, unorganized multi-tasking. Block some time off into your calendar to get things done (even if it's just a small chunk of the bigger task) and do it.

3. Set deadlines. For me deadlines work better when I have someone to report to, I use my mastermind partners and coaches to keep me accountable. All during my masters program I had no trouble managing to get a twenty-page paper done for a school project, but when it came to writing my own web content it took me much longer than anticipated and when I didn't have anyone to be accountable to procrastination would get the best of me. Whether the deadlines are self-imposed or not, be specific about when you want to complete and do everything you can to meet that timeline.

Overall, do small tasks in focused amounts of time with a deadline. These three small changes to the way you work could dramatically increase your workflow and productivity.

author: Andrea Constantine

How to Make it Big on Small Ideas

2009-10-02T03:07:00.000+02:00

When trying to be successful in this world, a lot of people give advice that for most people is not only unrealistic, but actually the wrong strategy for them.

The vast majority of regular people aren't wired to make it big with a huge idea, and so the endless pursuit of it results in failure as nothing ever gets off of the ground because of waiting for the 'big' one to arrive. This paralyzes people into inaction probably more than any other factor I can think of or have seen.

Why that is so is the means to get something that is huge off the ground in the vast majority of cases forces you to give up part of the idea in return for financing, consulting or helping you get it off the ground. Smaller ideas don't have that attached to them, and thus are able to be started on your own, as well as ownership retained.

Here are the secrets to becoming successful with a series of small ideas properly executed over the years.

Step by Step Instructions

Step 1

The first step is to understand why small ideas work better for the average person: you fly under the radar and can successfully work in obscurity while building a solid, successful business and/or income.
Step 2

A Small idea doesn't mean it won't get big returns, it means it's the type of idea that doesn't attract all the attention that inevitably draws those that will easily drive you out of business through availability of funds and knowing how to take it bigger than you can.
Step 3

Now concerning when I said small ideas, I didn't mean by that every idea would be a new idea, I mean by that you take an idea you experiment with and test to see if it works, and once you work the kinks out of it and have it working and profitable, reapply it over and over again over a period of years.

For example, with eHow - once you experiment and find out some things that work, break it down into steps you understand as to why, and repeat over and over again, occasionally making small adjustments as the situation demands and requires.
Step 4

Eventually your series of small ideas adapted and honed as you practice them become a big idea, in the sense that repetition and adaptation over a period of time has built it up to significant proportions.

That's the real secret many wealthy people employ to build up their capital.
Step 5

Once you have the idea operationally down and working, from there it's simply a matter of expanding and growing it to the level of your goals or where it ends up taking you.
Step 6

The truth is a small idea that works is reality is a big idea. It's just starts from a seed you plant and then take care of by pruning and watering it over a season of time, while fertilizing it with the right nutrients.
Step 7

Once you have a successful formula down, don't go and tell everyone about it, but quietly run with it as fast and as far as you want to.

by: ehow

Making your Small Business Large Through Recruiting

2009-09-23T14:03:00.000+02:00

For the millions of amateur inventors, entrepreneurs, and small business owners looking to make it big in the world economy, there are a number of obstacles in their way. As soon as someone turns an idea into a business model, they face competition from a variety of sources. There are usually small businesses that pop up to provide a cheaper alternative to a business owner’s product. Corporations will also recognize the success of a small business and market a similar product with their considerable advertising money. As well, the online marketplace means that a small business owner faces an uphill battle for attention in their specific corner of the market.

The competition is only one aspect of how difficult it can be to turn a small business into a success. The odds are not in the favor of a small businessman, with most small businesses faltering within a few years of opening. The narrow margins of profit and the various financial obligations that a small business has makes it difficult for an owner to feel comfortable with their financial situation for years on end. However, small business people should not let this information stop them from realizing their dream.

Successful small businesses have a number of factors working in their favor. The most important aspect of success early in a business’ life is the quality of product that is being produced. As well, the unique nature, the necessity, and the cost of a product can contribute to the success or failure of a small business. Small business owners who are successful often have a strong set of short, medium, and long term goals which push the company toward the top within their industry. Finally, a business model that ensures financial stability while producing a great product or products for years to come is the backbone of any successful business.

Perhaps the most overlooked aspect of small business is the recruitment of high quality professionals. These professionals can make or break a business, depending on their reliability, creativity, and commitment to the business. Small business owners should work with a recruiting agency in order to develop a strong set of personnel. Agencies can help owners target specific skill sets in their employees while saving them the expenses of excessive advertising and promotions. Small businesses can grow into big corporations or industry leaders through the use of creative recruiting methods and a commitment to excellence.

author: Richard Taylor Edwards

How Can I Make My Small Business Look Big?

2009-09-23T13:52:00.000+02:00

You may have the skill set, services and products that earn you a right to be recognized in the industry you're in, but the truth remains that competition is fierce out there. You're swimming with the sharks and they're out to bite. Those other companies have more money, more personnel, recognition and therefore, more pull. Good thing the only thing standing between you and more business coming in are the proper attitude, proper technology and proper presentation. Below are some ways you can make your small business/home office take on a bigger feel. While some suggestions might require spending, the others need only your commitment to professionalism.

1. Phone system. "When it comes to telephones, associated equipment, and services, it's time to splurge," says Debra Koontz Traverso, author of Outsmarting Goliath: How to Achieve Equal Footing with Companies That are Bigger, Richer, Older and Better Known. "Buy or lease the best system or service you can justify." You don't need to drop several thousand dollars for this as there are more affordable options out there, you just need to look. The main thing is that you need to get a separate phone line for your home and for your business. When people call you on the telephone, the impression you want to give is that they are calling an actual company even if you are the only employee so far. A residential line is cheaper but getting a business line will get you in the business listings in the phone book.

2. Presentation. Whether it's your website or your business cards, you should aim for a polished, sleek look that doesn't scream "home-made." Your packaging is what makes a great first impression next to your service, so make it a memorable one as well. It's tempting to knock off a web or card design from a template you can find on the Internet, but there's nothing like having a personalized look and feel that is unique to your company.

3. Think and speak "We." Always use "we" when referring to yourself in discussions with your clients or prospects, says Tanya F. Hilleary, president of Virginia-based Riverbyte Communications. And never make on-the-spot decisions but instead say that you will need to consult with your executive committee on the matter.

4. Accept credit cards. People won't expect that from a sole proprietor and if you're doing business online anyway, then you'd be a dead duck to not accept card transactions.

5. Exceed expectations. The only thing better than a company who can answer a client's questions is one that can answer them before they are even asked. Cover all bases and offer the necessary information and guarantees before it is even brought up. This way your company will sound prepared, competent and experienced.

source: BidMyServices

Small Business Bookkeeping: Make your Small Business Big

2009-09-23T13:47:00.000+02:00

Bookkeeping is such a task that requires accuracy and extra attention of the person who is performing it. Being a small business owner you need to be extra cautious for accuracy and management of accounting and financial records as growth of your business somehow depends on the financial record management. A slight mistake can become a big hurdle in the way of success of your sapling business. Small business bookkeeping is an answer to all big bookkeeping problems of your small business.

When someone starts his/her business as a small business it becomes necessary to keep the budget in mind while hiring accounting professionals. On the contrary qualification of accounting and bookkeeping professionals is essential to lessen the chances of mistake. Hiring such professionals can go out of budget as their cost to the company will be high. In such a situation when both qualification and budget are equally important small business bookkeeping is the best option. Small business bookkeeping as its name refers is especially for those small business that can not hire much manpower to manage accounting details. It offers a cost effective but accurate and expertise bookkeeping service to small businesses.

Small business bookkeeping understands the requirement of your small business and provides you complete bookkeeping services right from managing day to day transactions to preparing monthly and annual financial statements. Small business bookkeeping manages your records in such a manner so that you may retrieve, access or update accounts easily when needed. Small business bookkeeping have such qualified professionals that can make your business flourish by not leaving a single chance for mistake. They understand that you can not afford to miss even a single entry so they fully concentrate in managing your accounts properly. At the time of tax filing you will never need to worry with small business bookkeeping as they keep every record updated that you may need while tax calculating and filing. During the period of taxation you may be busy somewhere else but you will find everything up-to-date and managed.

For small businesses owners it is necessary to understand the value of time so they never need to band their head in financial matters. Once you have hired a small business bookkeeping services, you are free from all accounting and bookkeeping hassles. You can better utilize your precious time in making new strategies for the growth of your business. The first thing that you should remember before hiring small business bookkeeping service provider that you should fix the charges and quantity of work at the time of hiring. That will save you from wasting your hard earned and important money. Business owners from all over the globe are getting advantage from small business bookkeeping service providers. A good accountant gives you advice for enhancement in business and sets you free for other important works so that you may give sufficient time for making new development plans. That is all what small business bookkeeping service provider does and makes your small business big.

author: Alvis Brazma

Making Your Small Business Look Big

2009-09-15T04:06:00.000+02:00

As a small business, your budget is tight and your time is even tighter. But you still have to compete with larger organizations that have big budgets and even bigger staff. Let’s face it image is everything and if you can’t look big, prospective customers will go elsewhere.

How can you make your small business look big without breaking the bank? Start with these five time and budget friendly ideas. In no time you’ll be competing head-to-head with the larger organizations in your market.

1. Powerful Logo – the logo of your company is often the first thing that someone sees. It doesn’t have to be expensive, but don’t take it for granted. It should communicate the values of your company – strong, dedicated, customer focused, etc – and be on all of your marketing materials

2. Business Cards - Don’t underestimate the power of the business card. It’s often the first thing someone sees when you meet them for the first time and they are you when you aren’t there. Make sure your business cards are high-quality, full-color and make an immediate impact. Distribute them freely to ensure that your name gets out there often. Give a stack of cards to colleagues who will pass them along to potential customers.

3. Professional Materials—Produce high-quality, professional materials for all of your branding and marketing initiatives. All of your collateral materials - business cards, letterhead, brochures, note cards, post cards, giveaways and even return address labels - should all match and make a strong impression. And don’t forget note cards for hand written thank you notes. Because prospects and customers like to review information from home, clear and easy-to-read brochures with product or service information are important. Skip photo-copied fliers on colored paper and shoot for full color glossy materials. Hand them out when you meet with clients or prospects at shows and conferences.

4. Reinforce Your Brand With Great Giveaways—Stay in front of your customers every day. Look for cost-effective options that have staying power. If it makes sense for your business, items like calendar magnets with seasonal professional sports calendars are a great way to ensure your customers will place your business and contact information in a frequently viewed location like the refrigerator or file cabinet. Also consider holiday cards and holiday promotional giveaways with your name and messaging.

5. High Impact, High Frequency Mailings—Promotional mailings are one of the most cost-effective ways to keep you top of mind with your customers. Look for high-impact, full-color postcards that inform customers of your latest successes or upcoming sales. The frequency of the communication is almost as important as what you say. Mail your customer base twice a month for the best response. If you can segment your database, send smaller print runs of mailings to targeted audiences. You’d be surprised how appropriate mailings can impact the bottom line.

No matter your budget, these simple tips will enable you to look professional and will keep your company’s name in front of your customers.

by Mary in entrepreneurship

Make Your small Business BIG with Business Incubators

2009-09-15T03:52:00.000+02:00

As a small business entrepreneur, your biggest concern is surviving the start-up period. It is relatively easy to set up a small business but sustaining it over the long haul poses several setbacks.

The two most common problems of small businesses are:

1.Lack of financing

2.Lack of business expertise in the field of marketing, finance, strategic planning or operations.

Luckily, there different groups or agencies established to assist your small business in this excruciating phase. One of these groups is the so called Business Incubators.

Business Incubators?

An organization created to nurture passion for entrepreneurship, help start up businesses survive, and grow to be a powerful force in the market.

Their main reason for being: make your small business BIG and financially stable by providing the following:

Free consultation in developing business plans to gain financing from interested parties.
Management consultation on compensation and prioritization of business activities
Business and technology support/services
Flexible office space leases and access to office equipment
Network with other entrepreneurs

More than 4,000 business incubators operate worldwide ranging from different specialties. In US, about 1,400 business incubators are actively helping entrepreneurs and startup businesses in generating profits and sustaining performance.

Majority of business incubators are categorized as nonprofit organizations and they are primarily interested on economic development. Some incubators are called “mixed use” since they partner with startup companies in multiple industries.

Other business incubators specialize in different fields – manufacturing firms, community-revitalization projects, technology groups, and even service businesses.

In terms of geography, about half of the business incubators’ clients are situated in the urban areas while the other half is scattered in rural and suburban sites. In addition, business incubators expand their operations in other countries with promising business concepts.

Why Help?

Business Incubators help fledgling businesses because they believe in the spirit of entrepreneurship and its impact in the economy.

By helping these small companies with great potential, Business Incubators expect to achieve the following:

Additional employment opportunities
Transfer of cutting edge technologies between universities and companies
Expansion of business base
Revitalize neighborhood
Fuel growth of local and national economies

Choosing the Right Business Incubator

With thousands of business incubators established in diverse markets, small business owners are sometimes confused when it comes to choosing the right partner.

As a guide when dealing with business incubators, it helps to know the following beforehand:

Success rate or proven track record of the business incubator
Check if services offered are aligned to your business needs
Duration of partnership
Comparative rates of different business incubators in your area
Network and affiliation of the business incubator with community, government, and business agencies
References and experiences of current tenants regarding management style of the incubator

So, if you want to make your business more profitable and competitive amidst competition then check our some business incubators in your area. or try to visit our site www.dharmaconsult.com to check out how good is our service.

source: hubPages
by Leo Blanco

Make Your Small Business BIG with Web Marketing

2009-09-15T03:46:00.000+02:00

Whether you want to sell to the masses to live with the classes or get riches by serving niches, the web is a must-have marketing tool to help you grow and support your business.

Having a website does not mean that you are engaged in web marketing. The true meaning of web marketing is maximizing exchanges…exchanges can be in the form of leads, connections, information sharing, awareness and referrals…and maximizing connections leads to maximizing sales! (We are in business to raise funds, right?!)

There’s no better time than now to put the web to work to help you grow and support your business! Web marketing is a powerful marketing tool, but steps need to be taken in a logical order (great site first, traffic driven to it second) so your time and money is spent where it counts. There are four main areas that must be used together to help you make your small business BIG with the web:

1. Design. You never have a second chance to make a great first impression online…with your competition only a click or two away, you need to make every website visit count. Good design solidifies your brand, establishes credibility, evokes trust, makes navigation clear, establishes your brand, appeals to your target customer and makes them feel good about doing business with you.

2. Usability. Just because you know how to use your site, does not mean that your visitors do. Make sure your site has a clear purpose, is easy to navigate, clickable items look clickable and that you have clear call to actions to engage action. Show your visitors what you want them to do when they get to your website – we all need guidance!

3. Salability. Make is crystal clear in your content and site design who you are, what you do, who you serve and communicate the value of what you do (if you don’t toot your own horn, nobody else will!). Good site design is key, easy to read information is key, showcasing case studies, testimonials, what makes you different/better from the competition are all imperative for success. Make sure your contact information is easy to find. People still like to pick up the phone and talk to a real person.

4. Visibility. Just because you built a website, does not guarantee that people will flock to it! Web marketing has so many tools (beyond the website itself) that can be tapped to increase awareness. Make sure your site is designed to attract search engines, consider creating community with blogs and social media, try online advertising and offer value on your site via good content. Email, search engine optimization, paid search ads and affiliate marketing can all be tested as potential ways to increase visibility. Find ways to connect, communicate and collaborate!

Stop thinking web site – start thinking web solution. Marketing is about maximizing exchanges, and the future of marketing is online. There are many low-cost web tools to use to get prospective clients in the door. Google Analytics has free web statistics to show small business owners what drives their traffic and sales. Google, Yahoo, MSN, Superpages.com and YellowPages.com all offer free (yes, free!) business listings so your business can be found in local or map searches. Do not underestimate the web as a tool to maximize your awareness – it’s a tool that will pay for itself and become a piece of marketing collateral that will last you the life of your organization.

by Lorrie Thomas

Small Businesses Can Make a Big Difference

2009-09-05T13:27:00.000+02:00

When it comes to small businesses, many companies may have the desire to do right by the planet, but many times they feel they are not capable of doing so because it is far too big of a task. This couldn't be further from the truth. As a small business or even a large corporation, you can actually do big things to help the planet by barely doing anything at all. Solar water heating, HVAC systems and wind turbines aside, here are a few simple tips to get you started toward a more sustainable business.

First and foremost, reduce, reuse and recycle, are three terms your small business should live by if you are interested in becoming a more eco-friendly organization.

Reduce: Reducing your amount of waste is a great way of helping the environment. Using a computer and switching from print or direct mailing to email and digital collateral can be a great way of reducing the amount of paper and ink you use.
Reuse: Instead of throwing things away, why not try to find other ways of utilizing them. For example, the handy note tablets that you write any and everything on. Rather than throwing out the table once all of the front pages are filled, use both sides of the paper.
Recycle: Many of the materials your company uses everyday are made out of material that can be recycled, but because business waste management services can be so expensive, many companies choose not to use them. If this is the case, try to network with other local businesses and purchase the service in conjunction with them. This way you will be splitting the costs between multiple companies and networking at the same time.

Once your company has the three R's (Reduce, Reuse, Recycle) set in motion, the next step is to make an effort to convert to more environmentally friendly office supplies and practices. Both large and small supply stores now carry many green, natural and organic products such as recyclable paper, CFL or LED light bulbs, natural base cleaners and low VOC paints, just to name a few. In addition to purchasing more eco-friendly products, analyze your current practices to see if you are making all efforts possible to reduce harm to the earth. Turning off lights when no one is in the room, shutting down power strips at the end of the day and refilling ink cartridges instead of buying new ones are a few ways to get started. Think about these things on a large scale. When purchasing supplies and changing your attitude it may seem insignificant to your company at first, but the effects can be greatly rewarding in the long run.

You have started following the three R's, converted to eco-friendly office supplies and practices and you feel you are on your way to a more sustainable business. Finally, for all of the things you simply can't control, such as daily commute, business traveling, electricity consumption and more, you can offset their carbon footprint. Services such as Terrapass, Carbon Footprint and Carbon Fund have great tools to calculate your business' carbon emissions. Once calculated, they will offer you tailored solutions to aide your company in becoming carbon neutral.

Running a green business is not only good for the environment, but it is also a benefit for your bottom line. Whether your company's goal is to become a 100% sustainable business or to moderately practice environmental stewardship, taking action is the first step. In the end, doing your part to save the planet may also be saving your company some real green!

Benefits of Transforming Your Small Business to a Big Company

2009-09-05T13:07:00.000+02:00

Availability of funds will enable a business to employ qualified staff. This will lead to division of labor and specialization hence increase output. Qualified staffs are able to make viable decisions that can go a long way to necessitate a company's growth. It will also enable the business put in place better organizational structures. which will allow departmentalization and subsequently division of labor.

How to Make Your Small Business Look Big

2009-09-05T12:58:00.000+02:00

Free web-based email makes you think of dead-giveaway addresses like ninja-girl9378@hotmail.com, which are unsuitable for putting on a business card or resume. But setting up your own email server or paying a hosting provider to do it for your small organization can be costly or time-consuming. The good news is you can get all the benefits of the leading web-based email service out there -- Google's Gmail -- with a yourname@yourdomain.com address for free.

With a Googla apps account, you can look like you've got a full IT team behind your small organization but get the simple setup and access that web-based applications offer. Google Apps (formerly named "Google Apps for Your Domain") includes Gmail, calendar and document sharing, simple web site hosting, and instant messaging to all the people involved at your dot-com for free.

Here's how it works. Say you own a web site domain name like thejonesfamily.com. (That you've got to pay for; prices range from $10 to $60 a year.) With a Google Apps account associated with this domain, you can create up to 50 users (in the free plan) in Google Apps, like jill@thejonesfamily.com, jack@thejonesfamily.com, and sarah@thejonesfamily.com. Each person gets his or her own email account, calendar (for sharing amongst the group), instant messenger account on Google Talk, and Google Docs account for sharing and collaborating on office documents like spreadsheets, Word documents, and slide shows.

I've used Google Apps for two domains (one work-related, and one personal) for over two years now. Here's what the apps domain dashboard looks like inside Google Apps:

The most obvious advantages to using Google Apps is the low cost, zero maintenance, and data storage "in the cloud," which means your email, documents, and events are always available anywhere you can get online with a web browser. You don't need an IT system administrator to create accounts and give users access to services; you can do that all yourself using Google Apps' dashboard. You don't have to worry about data backup (it's all stored on Google's servers), hitting email account storage limits (Gmail's up to 7GB of storage per user now), or futzing with VPNs, firewalls, or specific software. At any time you can choose to switch to another provider and take your domain name with you, which means you don't have to change your email address if you decide Google Apps isn't working for you.

The main disadvantage to using Google Apps' free plan over paying a hosting provider is that if the server goes down or you have problems with your account, you don't have a direct line to tech support. (A $50/year Google Apps account does include phone support for "critical issues." I don't have experience with this, but in general Google is notoriously bad at offering tech support on an individual basis. When you have troubles, you've got to scour mailing lists and blogs to find out what the story is.) Also, some organizations might not feel comfortable storing private information or documents on Google's servers.

But for a family, softball team, side business, small business, or individual who just wants professional-looking email addresses and an easy way to share documents and calendars, Google Apps is a great solution. While I do back up my email to my computer from my Google Apps account periodically just in case the day comes when Gmail's down and no one's home, that day has not come yet.

source: harvard business school

Your Small Business Can Easily Stand Up and Compete With the Big Ones

2009-08-08T02:37:00.001+02:00

There is often a feeling that it’s harder for the small business to compete with the big bisiness. However there are many benefits in choosing a small company. You need to clarify how these benefits are relevant to your business, and use these benefits to gain more business and retain customers and clients.

When a large corporation like Wal-Mart comes to town you will feel a shudder go through the whole business community. It is like a proverbial giant striding into a small village. The first reaction is to run away. Unfortunately this is exactly what many of the local businesses do. They feel that they cannot compete with a giant corporation and just close their doors.

This may be true in part because there is no way that a small business can fight a large business on equal terms. However, small businesses offer some advantages that these corporations can never even think about. These things are what make a small business survive and thrive under the very noses of large corporations like Wal-Mart.

There are many benefits of small businesses for consumers:

Atmosphere: There is nothing like the warm friendly atmosphere of a small “Mom an Pop” style business. The customer is greeted in a genuinely friendly way and is not only made to feel like a VIP but almost like a friend. This personal approach is very appealing to customers and clients, and makes them not only buy more but return and stay loyal to the business.

Over deliver: Small businesses will always have time to help you and will even go out of their way to assist. You know that you will get help when you cannot find something or have a query about an item and you will not be treated like a dollar bill. You know that you can expect warm friendly personal service, which you will never get at big corporate chains like Wal-Mart.

Product and service quality: The product and service quality is often far superior to the big companies. You can get unique items and services at these small businesses that you cannot get elsewhere. It may cost a little more but it is worth it. The quality of the product is also better as it is not just made to sell as a discount item but built to last.

So when you’re faced with the possible competition of a big business, take a long hard look at the uniqueness of your business, how clients benefit from choosing your business and then sell these benefits. If you know the advantages of doing business with you, its much easier to communicate this through your marketing and selling. Big companies can’t easily duplicate the quality products and services that smaller businesses are easily equipped to offer.

9 Tips on How to Make a Small Business Successful

2009-07-27T15:59:00.001+02:00

1.Develop a thorough business plan.

The kind of cash flow analysis you do upfront will determine -- to a large extent -- how well you can weather variations in sales, inventory, and customer interest. You can compile a business plan yourself or outsource the job to a professional company.

With a profit and loss statement, a budget, and a projection of cash flow in place, you can figure out precisely how much money to allocate to various strategies and systems, and buffer yourself against new competitors and industry changes.

2. Concentrate on your core competency.

According to the book “Good to Great” by world renowned analyst Jim Collins, the most successful businesses -- large and small -- focus on doing one thing extremely well as opposed to many different things moderately well. Collins describes this competency as the business’s “hedgehog concept." This comes from a famous Aesop’s fable about the Hedgehog and the Fox. As the story goes, every morning, the Fox attacks the Hedgehog in a different way. And every morning, the Hedgehog defends himself by rolling into a tight ball. The Fox never actually succeeds in hunting the Hedgehog. The moral of the fable is: “the Fox knows many little things -- the Hedgehog knows one big thing.” Statistics bear out that enterprises that focus on a single Hedgehog concept tend to succeed more often.

3. Get the right people on your team and the wrong people off of your team.

As a small business owner, you work intimately with your employees. It can be difficult to let go of people who have served you loyally for years. However, if you have inadequate, inexperienced, or otherwise incompetent people working for you, your business will inevitably suffer. Conversely, if you have great employees who understand what your business is about, how you intend to optimize strategic opportunities, and what your end-goal for company is, you are much more likely to do well over the long-term.

4. Shield your personal cash and assets.

If you start a business from home, for instance, consider incorporating. If you are going to be outlaying your cash upfront for start up costs and the like, going corporate will help shield your assets if your business fails, if your company gets sued, or if your business incurs other significant liabilities.

5. Generally, keep things small until you can prove concept.

Even if you have a big loan to jump-start your business, work to keep things as frugal as possible -- particularly in the first six months. The vast majority of small businesses fail at start up. Even the most insightful and well-prepared enterpreneurs fall flat on their faces now and again. Give yourself room to fail, and you will be far less likely to get stressed out about the day-to-day numbers coming in and far more likely to take the smart but necessary risks you need to bootstrap your way to success.

6. Get critical contracts in writing.

Sure, you can do some business based on a handshake. However, your company will likely (hopefully!) expand in the near-term. Contracts worth just a few hundred dollars today could easily balloon to 20-50 times that much within a year or two. Getting in the habit of creating a sound paper trail will protect you against liability down the line and help you make a more organized transition to a medium sized corporation.

7. When it comes to customer service, under promise and over deliver.

When canvassing for new clients, it is tempting to make grandiose promises of low costs, fast delivery, and super high quality. But if you break your back (or your company’s bank) meeting these promises, you are not doing yourself any favors. Set modest expectations for your customers, and then strive to beat those.

8. Treat your employees as well as or better than your customers.

This may sound counterintuitive. But some studies suggest that putting the employee, rather than the customer, first actually makes businesses operate smoother. Ironically, this also appears to contribute to better customer service. The reason is that employees who feel like that they have some ownership in a company tend to take more responsibility for their behavior, pass along good “word of mouth” advertising about your brand, and forge more personal relationships with your customers. The In-N-Out burger chain in Southern California has succeeded for decades by pursuing this classically counterintuitive customer relations formula.

9. Stay out of debt, and keep all financial maneuvering above board.

By keeping up good credit, paying your state, local, and federal taxes on time, staying up to speed on payroll, paying your insurance and mortgage payments precisely when they are due, and otherwise successfully juggling your assets and liabilities, you’ll have a much easier time adapting to vacillations in the market.

How Can I Make My Small Business Look Big?

2009-07-27T15:54:00.001+02:00

4. Accept credit cards. People won't expect that from a sole proprietor and if you're doing business online anyway, then you'd be a dead duck to not accept card transactions.

Small Business Bookkeeping: Make your Small Business Big

2009-07-27T15:48:00.000+02:00

Bookkeeping is such a task that requires accuracy and extra attention of the person who is performing it. Being a small bussiness owner you need to be extra cautious for accuracy and management of accounting and financial records as growth of your business somehow depends on the financial record management. A slight mistake can become a big hurdle in the way of success of your sapling business. Small business bookkeeping is an answer to all big bookkeeping problems of your small bussiness.

When someone starts his/her business as a small business it becomes necessary to keep the budget in mind while hiring accounting professionals. On the contrary qualification of accounting and bookkeeping professionals is essential to lessen the chances of mistake. Hiring such professionals can go out of budget as their cost to the company will be high. In such a situation when both qualification and budget are equally important small business bookkeeping is the best option. Small business bookkeeping as its name refers is especially for those small business that can not hire much manpower to manage accounting details. It offers a cost effective but accurate and expertise bookkeeping service to small businesses.

Small business bookkeeping understands the requirement of your small business and provides you complete bookkeeping services right from managing day to day transactions to preparing monthly and annual financial statements. Small business bookkeeping manages your records in such a manner so that you may retrieve, access or update accounts easily when needed. Small business bookkeeping have such qualified professionals that can make your business flourish by not leaving a single chance for mistake. They understand that you can not afford to miss even a single entry so they fully concentrate in managing your accounts properly. At the time of tax filing you will never need to worry with small business bookkeeping as they keep every record updated that you may need while tax calculating and filing. During the period of taxation you may be busy somewhere else but you will find everything up-to-date and managed.

For small businesses owners it is necessary to understand the value of time so they never need to band their head in financial matters. Once you have hired a small business bookkeeping services, you are free from all accounting and bookkeeping hassles. You can better utilize your precious time in making new strategies for the growth of your business. The first thing that you should remember before hiring small business bookkeeping service provider that you should fix the charges and quantity of work at the time of hiring. That will save you from wasting your hard earned and important money. Business owners from all over the globe are getting advantage from small business bookkeeping service providers. A good accountant gives you advice for enhancement in business and sets you free for other important works so that you may give sufficient time for making new development plans. That is all what small business bookkeeping service provider does and makes your small business big.

Make Your Small Business Big

2009-07-15T18:38:00.001+02:00