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…
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…
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…
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…
Your new business has opened its doors. It has been a challenge finding a good idea, obtaining funding, and getting the necessary permits in order. You have also had to find suppliers, get your facility ready, whether a brick and mortar store or an ecommerce site, and maybe hire some employees. So now that you’ve…
Where do we get answers to our questions? I suspect that often we connect with our network. For business owners doing that is hard. Taking time away from the business takes planning and is costly. With that in mind, we want invite you to a new program: Friday 15 – Live Chats Your opportunity to…
Any business owner will tell you that starting and running a business requires thinking ahead while also staying on top of lots of details. Innovation and vision are great. But what really allows a business to succeed is paying attention to details. Keeping track of everything that needs to be done and then making sure…
People going into business want to be successful. Lots of tips about success can be found online and in writing. Yet one tip is consistently seen and offers a great track record – Make good decisions, and do it consistently. It may seem obvious that successful business owners are good decision makers. In reality,…
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