Many small-business owners fear that an increase in prices will drive customers away. This idea made the headlines in 2016 when New Jersey implemented a substantial gas tax increase making prices jump 10% or more overnight. Gas station owners were concerned that people will go somewhere else for cheaper prices or to other transportation alternatives. […]
Competition and Clustering
Do you steer away from the competition? Or do you embrace the opportunity and locate beside your competitors? Often small-business owners will tell you that they would be happy if they had no competition. Yet having no competition may mean you are selling something that no one wants. Given that thought, the same owner may […]
Your Small Business Needs a Sign
“If you build it, they will come” may work in the movies. But for small businesses, it is a myth. People will only come if they know you exist and they know where and how to find you. You would think that finding a business today is pretty easy given the mapping apps available and […]
