Some businesses are able to grow and prosper by outperforming their competition in a local niche market, or within a specific region. But the majority of businesses look to expand into new markets to grow their business and one of the most common ways of doing that is to expand geographically. If you decide you want to grow your business … Continue reading
A common mistake of some business owners is to not recognize the value there is in building a relationship with vendors. Some entrepreneurs believe their relationship with the vendor ends when they pay the invoice. Experts believe you are missing out on a valuable business strategy if you don’t turn good vendors into your business partners. These uncertain economic times … Continue reading
Your blood, sweat, and tears went into building a successful online business. But the time has come to sell your baby. Every day there are thousands of businesses that change hands, but online businesses are more difficult to sell because there are limited channels available to ensure you get the exposure you need to get the best price. If you … Continue reading
Every business at one time or another decides it needs to reduce the operating costs. In these tough economic times, doing more for less seems to be the motto of most companies. However, it’s a balancing act. On one hand, you want to grow your company. On the other hand, the demand to reduce costs is ongoing. You need to … Continue reading
Anyone can build a team, but the difference between success and failure can be in building the right team. A team is made up of people who bring the necessary skills to the business. Don’t confuse the team with partners. The team is made up of employees, contractors, and sub-contractors, whereas partners are owners who are financially tied to the … Continue reading
Today’s business environment is highly competitive, especially when it comes to your online business. The e-commerce site has taken the internet by storm, but too many entrepreneurs are under the impression “if you build it they will come.” Nothing could be further from the truth. Here’s what you need to know to build a successful online business. 1. It Takes … Continue reading
One of the best ways to increase your revenue for your online business is to increase your advertising. But the advertising you choose need to be effective otherwise you are simply wasting money. Here are just a few online advertising techniques that work well, bringing targeted traffic to your website for little to no money. Social Networking – MySpace, Facebook, … Continue reading
Over time, businesses grow and change. Part of that growth often involves entering into a new market. If you’ve decided to go from serving a local market to serving a global market, you’ll find yourself in amongst cutthroat competition. On the other hand, perhaps you’re just expanding into another city or state. Regardless, if you don’t know how to find … Continue reading
If you’ve been thinking about expanding your business into a new market you may be trying to decide whether to go abroad or stay domestic. This can be a complex decision with much to weigh out. Most companies would rather stay domestic if the market share is large enough. After all, it’s far less complicated and less costly to do … Continue reading
No one would argue about just how tough the economic front is. During these sluggish times businesses attempt to compensate by reducing operating costs or changing their pricing. Let’s look at 5 pricing strategies for small business. Strategy #1 – Don’t Slash Prices Except to Move Obsolete Inventory When economic times hit, the most common mistake small business makes to … Continue reading
