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Small Business Matters
Do you know how you are going to exit your business? You may have a dream of going public, selling to the highest bidder, or retiring and handing over your business legacy to your family. Big dreams aside, the truth is that 66% of small business owners have no exit strategy for their businesses in the event of their disability, retirement, or death (*source). Given the current economy this statistic isn't too surprising as small business owners focus their energies on business survival, future growth, and even remaining active in business...
According to the most recent U.S. Census Bureau data, Hispanics are opening businesses at a rate three times faster than the national average. And, what was once regarded as a minority group now represents the fastest-growing segment of the natio;s economy. This is a fact that is not lost on the government. Speaking to Hispanic News*, Ying Lowrey, senior economist at the Small Business Administration's advocacy office, has this to say:-the contribution of minorities to the economy is tremendou'. The corollary of this is that more and more...
Whether you are on a trade show floor, making a sales pitch, or seeking investment, perfecting your elevator pitch can be one of the most important things your business can do. From the moment you start-up (when no one has ever heard of you), having a well rehearsed and compelling elevator pitch can help buyers, clients and potential investors get to know you quickly. More than simply explaining your product, industry, or "big idea" a business elevator pitch is essentially how you speak about your business to others in a way that...
Re-locating a business to a new state is no easy feat. In some ways, can generate almost as much stress as starting out did in the first place - there is a location to be selected, a new local market to understand, business plans to be written, and regulatory mazes to be navigated, not to mention the actual business of moving. All that said, done properly and with prior planning, the process of re-locating your business needn't be quite the headache you might anticipate. Here is a small business checklist that should shed some light on...
In business, we all struggle with highs and lows, but for seasonal businesses - those that make the bulk of their profits at certain times of the year - knowing how to optimize the lows while riding the highs requires a particularlyinnovative and diligent entrepreneur at the helm. Seasonal businesses are all around - from garden centers and snow removal firms to summer camps and beach stores. Some will choose to remain open for business throughout the year, while others will close during the slow months. If you operate or are looking...
Take a walk down any supermarket aisle and you'll notice that more and more organic food products have found their rightful place alongside "conventionally" produced foods - testament to the fact that organic food production is now the fastest growing and most profitable segment of American agriculture. In fact, approximately 2% of the U.S. food supply is grown using organic methods. Over the past decade, sales of organic products have shown an annual increase of at least 20%, the fastest growing sector of agriculture (Source: *...
It's quite a staggering fact that in the last few years home-based businesses have grown to represent 52% of all small businesses and 10 percent of the total receipts of the economy (approximately $314 billion), according to the Small Business Administration (SBA). At the root of this trending is the fact that of all the forms of business ownership, starting a home-based business is low cost, low risk and for the long-haul (less than five percent actually ever move out of the home). This isn't to say that it's easy. You'll need...
During one of the worst recessions in U.S. history, a little sugary confection - the great American cupcake - is proving to be an unexpected fast food market opportunity for many entrepreneurs. One city where the cupcake sector is booming at a rate faster than your average coffee shop is Washington, D.C., where an investigatory article by The Washington Post found that at least half a dozen cup cake eateries - or "cupcakeries" - have opened in the past 20 months, with more on the way. ("Cupcakeries Emerge as Washington's...
Whether your business depends on the fall/winter holiday season for a substantial part of your annual revenues or you find it to be a slow time of year - remaining engaged and connected with your prospect and customer base is never more critical than now. And that means embracing the holiday season as part of your marketing strategy. While sending holiday greetings are important, you may want to consider diversifying your online and offline marketing tactics to ensure your business or non-profit remains relevant and top of mind throughout the...
Whether you are in the business of making money, running governments, or organizing communities - teamwork is essential. It is the basis of engagement, innovation and success. To quote Laurie Benson, CEO of Wisconsin-based Inacom Information Systems and 2009 "SBA National Women in Business" Champion: "Very few people are ever successful or a failure by themselves, and probably, one of the most powerful elements in creating success - is a powerful team." In business, powerful teams not only drive results, they empower,...
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by Caron_Beesley, Community Moderator on Tuesday, March 23, 2010 - 23:03