In most small-business startup manuals, you, the owner, are encouraged to define your audience. While a great early step, it often is done incorrectly. The instructions ask you to define your customers or potential customers in terms of: What they like to do Where they gather What they buy What drives them Where they live…
Did you know that: You will find a family business in one out of every 10 households. Family businesses contributed over $10 trillion, by one estimate, into our U.S. economy. Family businesses generate over 50% of U. S. business revenue. Family businesses employ over 50% of the U.S. workforce. Do you get a sense of…
As you probably know, if you are going into business, the odds your business will be around in five years are not good. But they aren’t as bad as you may think, either. Approximately one-third of businesses close within two years. At the five-year mark, about one-half of all businesses have closed. We don’t approach…
Late last year, I did a blog post looking at how clustering of competitors may have positive results (https://smallbizsurvival.com/2016/11/competition-and-clustering.html). Recently I was asked about this idea in terms of small rural town cafes. If any of you have lived in the Great Plains region of the country, you know the towns and the cafes I…
How often aren’t we told to “trust our gut?” You see this comment made often for people starting a small business or when small-business owners need to make an important decision. Yet a recent article from Entrepreneur challenged this and indicated that this idea may be a myth. So who do you believe? Which view…
We are right in the middle of SMALL BUSINESS WEEK! Two of the owners of such endeavors are: I’m a small-business owner. Becky McCray is a small-business owner (here at Small Biz Survival, Allen’s Retail, and a cattle ranch). In the last week, I have needed several small-business owners. For example, I: Got coffee several…
Get out the noise makers. Put on your party hats. Order a cake. It’s time to celebrate the backbone of our economy, the small business. Small Business Week 2017, April 30 through May 6, is a celebration of small businesses across the country. Small businesses mean jobs, dollars and economic growth. Across the U.S., more…
You probably have heard the phrase, “follow the money.” The phrase became popular the book and movie, “All the President’s Men,” by Bob Woodward and Carl Bernstein. These Washington Post reporters uncovered the details of the Watergate scandal, which led to the resignation of President Richard Nixon. Today, this phrase remains valid for small-business owners…
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