Most small-business owners are not excited about handling the financial recordkeeping for the business, which should come as no surprise. Instead, business owners often put it off until later and, quite often, the “later” means tax time. Not keeping good financial records can result in a multitude of problems. At best, you may not maximize…
“Big data” and “mining big data” are terms that are appearing in business magazines and journals at lot these days. Yet small-business owners often are not sure if and how big data fits into their business. Nor do they know where to get it and how to analyze it, even if they would have it….
Nothing remains constant. Those are words that small-business owners need to remember. Long-term small-business success means constantly changing. This is not new. However, these changes are happening more rapidly than ever. And the odds are, the pace of change only will get faster. Some of the changes that small-business owners have had to adjust to…
If you look back through various writings, these two terms, entrepreneur and small business owner, were once considered the same thing. Yet today business schools and economic/community developers often view them differently. More often the focus is on entrepreneurial development with fewer programs having “small business” in the title. Yet one often wonders are they…
As a business owner, you probably have heard that customers will forget about your business unless you keep your name in front of them. And this thought is partially true. The need to stay visible is an important part of marketing Today, however, with social marketing, “more” is taken to new heights. Everyone is focused…
Marketing makes many small-business owners nervous. They aren’t sure just how to approach it in terms of an overall focus. Nor do they know what to do when bombarded with a constant stream of articles touting the new “must-do” marketing approaches. (See Basic Marketing Tips) The typical response of business owners when facing these issues…
The words “price” and “right” might make you think about the game show “The Price is Right.” However as a business owner, you know, or soon will figure out, that pricing is not a game. The landscape of closed businesses are littered with businesses that failed to get their pricing strategy right. Some owners realized…
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…
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