One of the most common reasons that small businesses fail within the first two to three years is that owners fail to set aside enough money for startup costs because they underestimate how much they will need. When you add this to the fact that it can take a while to turn a profit, it’s easy to see just how starting a small business can…
If your business brand is not performing well or you simply feel bored with it, you may assume that it’s time for a complete rebranding. While that may be true, sometimes the brand simply needs some refreshing. Below are some tips to help you pinpoint the problem areas so you can determine exactly how much change your brand really needs. Discover the Pros and Cons…
As an entrepreneur, has it ever felt like you’re just wired differently than other people? While your peers seem satisfied with their full-time job and even seem to revel in the security it brings, you long for something more. You may be an excellent employee but your heart just isn’t in it and you would prefer to be your own boss. The only problem is…
Customer success and customer support are two key services that businesses strive to provide. Although each has similar goals and employees use similar skills when helping customers, each typically requires a different approach. The purpose of a customer support team is to educate customers about how to use a product and troubleshoot any issues they encounter with it. Customer success teams work closely with existing…
Dealing with limited capital isn’t easy, but it’s a reality for many new and small businesses. When faced with this problem, you must cut costs, increase revenue, or both. However, it isn’t enough just to cut back on expenses in certain categories. You need to take a strategic approach to ensure that your reduced expenditures solve the problem of limited capital in a tangible and…
Business people often have high hopes of a productive meeting before it starts, yet feel frustration and boredom set in within just the first few minutes. With a little planning, it doesn’t have to be this way. For starters, keep the meeting attendee list as short as possible. It should contain only those who have a vested interest in anything discussed in the meeting or…
A new employee must know how to use a certain operating system, have strong accounting skills, or have other technical skills to get the job done. While employers recognize this, they are also placing a strong emphasis on so-called soft skills when choosing the best person for the job. All other things being equal, it has become increasingly common for employers to select the candidate…
Social media can be a highly effective way to promote your business in today’s always-connected, digital world. People enjoy engaging with brands they know and trust when it’s convenient for them to do so. However, your company can also turn away the very people it’s hoping to attract by making one of several annoying social media marketing mistakes. Unfortunately, it doesn’t take much for a…
Making an appointment with a loan officer for a business loan is a big step in the life of any new business owner. While you’re naturally excited, it’s also important to understand that the business banker expects you to arrive fully prepared and to provide any information that he or she requests. A Banker’s Business Plan Looks Different from Your Own Even though you spent…
As a new small business owner, it’s an intimidating thought to realize that more new companies fail than succeed within the first two years. The fear can become so paralyzing that you end up making the same common mistakes of small business owners that ended up costing them the company. However, we encourage you to study these mistakes and vow to learn from them rather…
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