As a small business owner, you are a natural optimist and risk-taker. But, have you crossed the line that separates optimism from delusion?
Being hopeful is easy—in the short-term. Wishing for less demanding customers, more motivated employees, and more cash in the bank requires far less intellectual work and emotional effort than making an honest assessment of your business.
Social media has many applications for personal and business use, but the most important thing to remember is collaboration. When utilizing social media for business, engage customers and be transparent; these are core features of social media and customers will expect both. Social media is a powerful platform for consumers and businesses and in this new era of online business it must be embraced.
March 17, 2007 – Going too low or high can backfire in long run. Deciding how much to charge for a product or service is a common question among small-business owners. Developing a pricing strategy depends on several factors: the type of product or service, the costs to provide it, your anticipated profit and the average rate for your industry
Getting and keeping these customers requires research to gain insights into the industry, competition, customers, product, and the marketplace. Research is required to support fact-based business forecasts and plans; without the proper research your business plan is fictional, based on hope and wishful thinking.