When you extend credit to a customer you are assuming they will pay the amount owed in the agreed upon time, which is commonly 30 days. If payments do not arrive you should not hesitate to immediately follow up either via phone or email sending a reminder that payment is due. Late payment is likely caused by deliberately stalling or … Continue reading
When you have a business partner, that person is an integral part of your business and while we don’t like to think about it, what would happen if your business partner died tomorrow? Of course, it would be personally devastating, but it could also destroy your business. Most of us think about life insurance as something we buy to protect … Continue reading
Business partners have been around almost as long as businesses have. Choosing a business partner has never been an easy task. It’s about bringing together two or more people that can each bring something to a business. Today it is actually quite easy to find a business partner, thanks to the many online business partner networks that exist. If you … Continue reading
Most of us are creatures of habit, and that includes entrepreneurs. If a business is running smoothly, we stick with what we’ve been doing. That may not be the best plan of attack if you want to expand. Offering new products or services is one way to grow your business, but you need to be creative about how you introduce … Continue reading
Competition makes the economic world go round. In fact, competition is healthy, because the fittest will survive and the rest will go by the wayside. You need to stay one-step ahead of the competition and when you do your business will enjoy great success. Today’s marketplace is much different from even a decade ago when ones competition was in the … Continue reading
My friends and I went to San Francisco this weekend. We rode on the cable car, and went to the Fisherman’s Wharf. On the way to Pier 39 we saw this small jewelry shop, with an awning and table underneath it. There were few people standing around and it seemed like there was some kind of demo going on. We … Continue reading
If you have just invented a product, created a work of art or have developed a new process, you probably know that you need to protect your creation. But what is it to be – patents, copyrights or trademarks? You will not know how to patent an idea, how to patent an invention or what is trademarks and so on … Continue reading
It’s interesting to see just how many entrepreneurs will throw their hands up in defeat when competition comes their way. Many are ready to throw everything they’ve worked for out the door for fear they won’t be able to compete. It may not be advantageous to get yourself involved in a market that’s already highly competitive because it can be … Continue reading
As a business, it is important to know where your customers come from. You will need to research where your potential customers and current customers live to make sure your business is in the best location. This should always be undertaken before choosing a location or before expanding into a new geographic area. The last thing you want to do … Continue reading
There’s a lot and lot of buzz in the business world about geographic segmentation and geographic market, but what is it and what does it mean to your business? Glad you asked. When a market is classified by geographical segmentation it is said to be a geographic market. Geographical segmentation will seek to determine effective marketing strategies that will work … Continue reading
