In the business world, minimizing the competition may seem like a good idea. Yet research and reality have found that competition actually may strengthen a market for the competing business owners. Studies have found that as competing businesses move closer together, both increase their returns. Think about it: Wal-Mart and Target often will be closer…
Successful business owners understand the market they are in and who they are competing against. Have you taken the time to figure this out for your business? Understanding this and then developing your business to respond are crucial for long-term viability. Yet research suggests that often the business owner takes too narrow of a view…
July 1-7, 2014, will be Independents Week, “to engage your local independent businesses and community members in celebrating the spirit of entrepreneurism and community.” Independents Week is sponsored by the AMIBA. The American Independent Business Alliance is a non-profit organization helping communities sustain their local independent businesses and keep opportunities alive for local entrepreneurs. Notice that…
I am a farm boy. Grew up on a what today would be a small farm. My summers and after-school hours were spent working on the farm. Days were long and there was always something to do. Putting up hay always happened around July 4th. For most of my farming friends, this was a way…
Michael Shuman Interview Economist and Author Michael Shuman knows a heck of a lot about why we have a local movement. He’s also the author of the books Small Mart Revolution and Local Dollars, Local Sense. In this interview, he goes all economist on durable and nondurable goods right at the start, but hang on,…
We have been celebrating Small Business Week in the U.S this week. It is a time to recognize what small businesses mean for us and for our communities. In small towns, they form the mainstay of where we shop and eat. Our everyday lives depend on them. Yet, we often don’t think of what these…
For small town businesses, email is one of the most effective marketing tools available. Customers already like you, right? So they are more likely to open your emails than those from anonymous big brands. Emma Wilhelm, with Mad Mimi email marketing, presented these tips on building up your list of customer email addresses at the…
Next week, May 12th through the 16th, is National Small Business Week, recognizing “the critical contributions of America’s entrepreneurs and small business owners.” The Small Business Administration has lead this effort since 1963. It applauds this group of businesses. More than half of Americans either own or work for a small business and they create…
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