Small business changed forever once the Internet came on the scene in the early 1990s. The inability to stay competitive with such online shopping giants as Amazon.com forced many small businesses with brick and mortar locations to close for good. While some have panicked and assumed this meant the end of mom-and-pop type stores, that simply isn’t true. However, the businesses that remain must adapt to new ways of…
As a business owner, you put so much thought and energy into mapping out the path for your business to grow. One step you can take to increase your return on investment is to develop a solid marketing strategy. A good marketing strategy will increase your brand recognition, and will take into account all marketing channels which will help to grow your business. By developing a really good marketing strategy,…
There’s no such thing as preparing too much when it comes to selling a business. In fact, lack of preparation for selling a business is the biggest reason that deals fall through or business owners end up losing money. You can even include a clause regarding the sale of the business when you buy it. This is especially important if you go into business with a partner or you plan…
By now, most people know that millennials are the generation of people born between approximately 1980 and 2000. The youngest of this group has just graduated from high school and many are leaving their parents’ home for the first time to attend college. Those in the middle have graduated from college and are either looking for or working at their first full-time job. Marriage may be in the near future,…
When you’re new to running a business, it’s a good idea to take advantage of all the help you can get from those who have been at it a while. Most business owners can use the input of a coach whether they have just launched a start-up or are trying to grow their business to the next level. However, it’s important to carefully evaluate the person you want to act…
When you’re trying to value a business, there really isn’t a set formula for doing so, which means it’s entirely possible that you get it wrong. However, even if you do misfire a bit on the actual worth of a business, what really matters is how much it’s worth to you, and that simply can’t be defined by any system of metrics or finance. Even when you do factor…
When you have an effective system that will allow you to profitably get and keep quality customers that will do business with you over and over again and then actively and enthusiastically refer you to others, your business will produce more profits than you can possibly imagine. And then everything else falls into place. So, how do you get to that level of business? First you have to look at…
Identifying the Basic Motives of Customers or Prospects Although it may sound surprising, customers don’t buy just for the sake of owning a particular product or service. They buy because of the benefits they will receive as a result of owning that product or service. Understanding this concept can help you better focus your selling efforts and place more emphasis on the specific benefits and how those benefits apply directly…
Identifying the Basic Motives of Customers or Prospects Although it may sound surprising, customers don’t buy just for the sake of owning a particular product or service. They buy because of the benefits they will receive as a result of owning that product or service. Understanding this concept can help you better focus your selling efforts and place more emphasis on the specific benefits and how those benefits apply directly…
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