Loss Leaders
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.
6 C’s of Relevant Benefits
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.
Getting Help from SBA Programs
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.
Types of Business Entities
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.
How to Create an Effective SWOT Analysis
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?
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.
Executive Summary
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.
Elements of a Business Plan
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.
What Does It Mean to “Qualify as a Foreign Corporation”?
If your business conducts business in one state but is officially incorporated in another, then it is considered a foreign corporation. This article details the steps you must take to qualify as a foreign corporation in order to legally do business in that state.
Separating the “Business Entity” from the “Business Owner”
If you want to do business using a business name, as opposed to your personal legal name, then you’ll need to file a DBA. This article discusses the purposes of a DBA, and how their use might differ if your business is a sole proprietorship, LLC, or corporation.
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