One of the most challenging tasks when running your own business is finding clients. Given the challenge of finding clients, making the decision to end a relationship with a client can be extremely difficult. After years of experience consulting with small business owners, I’ve found that there are certain situations where continuing a broken relationship … Continue reading Breakup to Makeup: When Firing a Client Is The Best Decision For Your Business
It is not unusual to hear a company’s management team discuss forecasting whether it be about forecasted economic growth, markets, or sales numbers. A forecast is an informed guess and can help with business decision-making. There are two overall approaches to business decision-making, qualitative models and quantitative models. Qualitative models are very successful for short-term … Continue reading What are Forecasting Models and How Often Should You Be Using Them?
Every good business owner knows that your current clients are your best source of future business, both with their repeat business and from the word-of-mouth referrals they provide. Customer referrals are more powerful and less expensive than any other marketing. Regardless of your business size or your industry, you can increase word-of-mouth referrals to drive … Continue reading 3 Strategies to Convert Clients into Referral Powerhouses
Facebook can be an important social media tool for small businesses, but it can be difficult for your business to establish the customer reach it would like to through social media due to its design, complicated systems, and amount of time required. Understanding the way Facebook works for businesses can help you reach your audience. … Continue reading Facebook Changes that Can Kill Small Business Social Media
You may not want to think about small business failure, especially if you are just starting out, but unfortunately it is a reality for many businesses. Research estimates that one-fifth of all small business fail in the first year with less than a third lasting for longer than ten years. These statistics do not have … Continue reading Four Reasons Businesses Fail and How to Avoid Them
As a small business owner, you may be filling many roles within your organization. You probably work well over eight hours per day to fulfill your role as business owner, HR specialist, social media director, accountant, and customer service manager. Keeping your head down in the many day-to-day responsibilities of running your business is necessary … Continue reading How and Why an Entrepreneur Should Take a Break
Many businesses big and small hit a rough patch at some point, but its how you plan for and react to these rough areas that can make or break your business! Here are some areas that can cause rough patches and ways to stay above water as you navigate these issues. 1.Cash Flow Many small … Continue reading Staying Above Water When Your Business is Rapidly Sinking
Credit cards can make people nervous with high interest rates, the fear of racking up a balance you cannot pay off, or having your information stolen. You may be used to handling your personal finances in cash and unsure of using a credit card for your business expenses. It is easy to misuse a credit … Continue reading Can A Credit Card Be a Good Thing For Your Business?
Business owners take on a lot on their own, especially when they are first starting out. You may have handled areas of business that are well outside your area of expertise or comfort, such as marketing, social media, or accounting. As your business grows, it may be helpful to consider ways that you can reduce … Continue reading 5 Signs You Need to Outsource
Business networking is a business activity where entrepreneurs meet to form business relationships, share information, and help one and other build up their businesses. Joining a business network can be a great step for you as an entrepreneur. People like to do business with people they know and trust. A company doesn’t make decisions but … Continue reading Does Networking Work?