Marketing people love to say that products don’t sell themselves. But priority number one should be on making a great product—and then using marketing to bring people to a product that is already great. If you do things in the right order, you’ll maximize your returns.
Small business entrepreneurs must have a plan. Too many small business people, however, don’t make enough time for strategic thinking and planning. Here are 5 simple tips to make sure you’re making the plans you need for your business’s future.
Customer acquisition is a major cost for any business, and there are a number of strategies you can use to tackle this problem. One alternative is the classic “Loss Leader” approach, getting customers in the door to buy your entry-level product.
For any business to succeed, it must offer value to its customers. A great value is what will bring customers back, and drive growth. An important factor in value is relevant benefits, which is how your product or service meets the needs and wants of customers.
The Small Business Administration fills a number of different roles for small business, with a wide range of programs for entrepreneurs. These include financing help, training opportunities, help obtaining government contracts, and general small business advocacy.
Selecting a business entity is one of the most important decisions you will make when you start your business. Each of the options you have will have their own strengths and weaknesses, and this guide will prepare you to make the right decision.
The difference between an ordinary business plan and a strategic business plan is a SWOT Analysis. This breaks down the Strengths, Weaknesses, Opportunities, and Threats for your business, and shows that you have fully researched your idea.
Is your business really a business? It might sound like a silly question, but it’s an important one, especially around tax time. There are guidelines to help you determine whether your activities are considered a business or a hobby under the law.
The part of your business plan that investors will be most interested in is the executive summary—the one-to-two page summary of your overall business plan. A strong executive summary will grab an investor’s attention and get him or her interested in learning more about your business.
A well designed business plan is an important tool for a business, helping in the search for investors and lenders and in every management. Each company will have a different business plan, but there are a few common core elements that will make any plan more effective.