Business expansion can be achieved through a variety of strategies. On the one hand, there’s organic growth, which refers to the gradual process of building sales and profits with minimal outside financing. On the other hand is a more vigorous, debt-driven strategy that relies on rapid growth and intensive competition. Both paths are suited to specific scenarios, and startups should understand their unique market conditions when developing their own growth strategies.
Somewhere along the way, however, ...

read post »

The year is winding down and small businesses are looking for ways to bring in the new year with a bang. With so much turmoil in 2011, it’s understandable that people are looking for a bit more tranquility in the new year. But as much as you may try, 2012 is shaping up to be similarly demanding.
However, that doesn’t mean economic conditions won’t improve. In fact, most analysts expect markets to mend considerably in 2012. ...

read post »

Establishing goals is an important process for any organization. Without a realistic set of objectives to strive for, companies are merely at the whim of the moment and have no real dream to guide them in their decision-making. Without goals, everything is reduced to a slew of rigid financial considerations.
With that in mind, now is the best time of year to set some goals for yourself. The new year is an opportunity to start fresh ...

read post »

Whether you’re in retail, technology or marketing, quality customer service is rapidly becoming a top imperative for any venture. Especially in highly competitive environments, such as the holiday shopping season, the customer experience can be what sets your organizations apart from your rivals.
More importantly, consumers demand good service, knowledgeable staff and timely handling of requests. In fact, roughly 60 percent of customers claim they are willing to pay more for quality customer service and experience, ...

read post »

For some, the holiday season marks a period of rest and relaxation after a long year of hard work. For others, it’s the busiest time of year. As a small business owner, you need to find a balance between these two extremes. On the one hand, you have your over-worked employees who will no doubt appreciate some time off at the end of the year, or a bonus at the very least. On the other ...

read post »

Times are tough, and you don’t need to turn on the news to see it. If you’re a business owner you can feel it. It’s in your bottom line, your payrolls, the engagement level of your employees, your debt, perhaps even your own degree of happiness.
However, entrepreneurs and small business owners tend to have an inherent strength when it comes to dealing with crises – be they financial or personal. And that involves their level ...

read post »

Business is one giant competition, so don’t be surprised when you see a rival enterprise open up down the street or right next to you. This the nature of the beast, and embracing it will only strengthen your operations. That being said, it’s not location but how you manage the arrival of a competitor that determines the winner – or at least who’s successful.
Depending on your industry, a rival venture may herald the demise of ...

read post »

The holiday shopping season is well under way. If your business does not have a strong marketing and customer service strategy in place, do so immediately. This is the busiest time of the year for consumer activity, and this year in particular poses a series of unique challenges – and advantages.
For one, with the economy trudging along toward recovery, Americans are increasingly tired of being frugal and debt conscious – they want to spend like ...

read post »

Now is the perfect time to set a budget for the new year. Yes, some business owners think they don’t need to set a budget – they’re either too spontaneous to adhere to a strict spending plan or believe they simply don’t need one.
Either way, business owners should recognize that budgeting is planning, and every successful organization has plans. What’s key is aligning those seemingly distinct objectives. And budgets don’t have to be strict, all-encompassing ...

read post »

In the age of social media, online shopping and mobile commerce, it’s no surprise some people feel that brick-and-mortar retailers may soon become obsolete. However, these new technologies have recently been utilized to encourage shoppers to head back into stores.
WSL/Strategic Retail explains that a number of new mobile technologies, social media campaigns and shopping apps are hoping to use consumers’ behaviors and communication preferences to get them to shop at physical store locations. Retailers have ...

read post »