You have heard that a competitor is coming to your community. Now what do you do? This is the typical response of most business owners. And, of course, the bigger the competitor, the greater the fear of the new competition. When such rumors start circulating, and after the initial shock, business owners start to wonder…
Will you make plans and set goals for your business in 2014? Or not? If you are typical of most people, you start the new year by making some resolutions or set some goals that you want to achieve in the next 12 months. And typically those resolutions are forgotten in a very short time….
For a business to exist for the long term, it must make money. Yet other values also can influence whether a business stays in business. It is surprising by the number of business owners who never have taken the time to determine if they are profitable at a basic level. There is money in the…
The fact that small businesses are at the core of our economic system probably does not come as a surprise. Estimates on the number of small businesses suggest that they make up 90 percent or more of the total number of businesses in the U.S. In small communities, the number and importance of small businesses…
You want to start a business but you just can’t find that one great idea. This dilemma is often a major stumbling block for many aspiring small-business owners. They just keep waiting for that one big idea that will guarantee a successful business. The reality is that more often, a good idea, rather than a…
You can have the greatest product or service, but if no one knows you’re there, your business will fail. That’s a harsh statement to make, but it is true. The business world is littered with great ideas that did not succeed because the businesses had no buyers. A common reason for the lack of buying…
In many communities, the small-business owner is the cornerstone of support for various charitable functions and events. Small-business owners don’t just provide dollars, products and services; they often take on leadership and volunteer roles that allow the community to maintain itself and grow. The support of small-business owners to their community should be applauded. Their…
The idea that providing good customer service is important to your business should come as no surprise. But can that be translated into dollars and cents? The value of customer service is hard to quantify because it is part of a store’s brand and reputation. There are, though, some indications of what it can mean…
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