Businesses tend to focus on driving website traffic as the primary way to grow their online revenue. However, although visitor volume is essential to success, making minor site changes to increase conversions — the number of visitors turned into leads or buyers — can be a more effective means of…
Starting a business requires a ton of money, right? Sometimes it does. If, say, opening the next McDonald’s in town is your heart’s desire, you’re going to have to downsize your dream unless you have some serious cash ($750,000 minimum). But it’s also quite possible to be your own boss with…
Although many investors claim they fund fewer than one percent of the deals they consider, they obviously must say “yes” to some, right? To improve your odds of getting funding for your small business, follow these simple guidelines. Honestly Value Your Company Investors are not easily swayed by…
From hammering out a contract to securing a lease for office space, negotiation is essential to the success of nearly every small-business owner. Need some advice? The longtime best-seller Getting to Yes: Negotiating Agreement Without Giving In, first published in 1981, offers a step-by-step strategy…
Have you mapped out a strategy for your business in 2013? If not, take a cue from Larah Ritchie: Turn the task into a party. Ritchie (pictured), a business adviser and e-learning designer based in Knoxville, Tenn., has made planning an annual ritual for the past 10 years. Every November, she sits…
With Google’s recent algorithm updates and Facebook’s integration with Bing, social networks have become a critical component of every company’s search placements. Despite this, and the staggering amount of time people spend using social media, many small-business owners still neglect these sites…
Mom-and-pop shop owners may not realize the impact that a retail store’s layout can have on sales. But studies show that a less-than-ideal arrangement of product displays, check-out and service counters, or aisles influences consumer behavior in subtle but powerful ways. For example, when a customer…
As a competitive small-business owner, it’s easy to get so caught up in the latest trends that you lose sight of your company’s goals. This can, of course, lead to disaster. One way to make sure that you stick with your own marketing strategy is to steer clear of some common pitfalls. Here are…
Keeping opening lines of communication in any office can be a challenge. As the U.S. workforce becomes increasingly diverse and multilingual, the task can prove even more difficult. However, by taking steps to ensure that your business is competent, if not fluent, in the languages spoken by your staff…
If your small business isn’t in the cloud, it probably should be. The cloud not only protects your data against unexpected computer failures and stolen devices, but also allows you to access the information anywhere, from any computer, tablet, or smartphone. Even better, various free services can…
You already know that the most valuable feedback about your company comes from your customers. But do you know how to effectively solicit their input? If your usual survey-response rates are low, consider these four new strategies for obtaining quality information. 1. Enable text messaging. Give customers…
How ‘Sellable’ Is Your Business? (via Intuit Small Business Blog)Ever dream of selling your business for a profit? Or maybe you’d like to know what prospective buyers think of your company’s potential? Entrepreneur and angel investor John Warrillow developed the Sellability Score to quantify the “sellability” of a company based on eight factors. Warrillow…
It’s a conundrum for just about every entrepreneur: How do you set the right price for a product or a service? If you charge too much, you could inhibit sales. If you charge too little, you run the risk of creating unsustainable margins. Obviously, the best practices for setting and maintaining prices…
Ever feel like an ant crawling through a landscape of giant big-box competitors? If so, consider this: The average anthill packs plenty of collective power, and when its residents gather in large numbers, they can send even the largest beast running. Trade associations can give small businesses similar…
“Choosing your company’s method of transportation is extremely important,” notes Inc. magazine. “The right mode of transport can lead to quick and efficient shipping and delivering, and happy customers, to boot; conversely, the wrong mode of transportation can be extremely costly and damaging…
Ask any small business owner what the hardest aspects of running a company are, and you’ll likely get a wide range of answers. Some people aren’t good at money matters, for example, while others don’t know how to delegate. But just about every business owner has, at one time or another, experienced…
It’s an all too common dilemma for small-business owners: How much time do you give customers to pay overdue bills before writing off your losses as bad debt? Deciding when it’s time to cease collection efforts can be a hard call to make. How do you separate the laggards who will eventually…
Etsy, OpenTable, Airbnb, and other successful startups in recent memory have at least one thing in common: They don’t sell their own products or services. These online marketplaces facilitate transactions between merchants and buyers. In short, they act as middlemen. Are you looking to do the same…
Nine out of 10 businesses in the United States are family-owned, according to the Small Business Administration. That’s an impressive statistic, considering all of the minefields associated with keeping things in the family. The hiring process may involve some degree of nepotism. Emotional concerns…
Reputation. It’s a concept you hear about from a young age but probably give little thought to — until negative words are spoken about you. Then, suddenly, you’re all too aware of how important your reputation can be. With the internet serving as today’s water cooler, or the place where people…
Before customers buy anything from your small business, they may want to know more about it and you — perhaps so they can determine whether or not they think your operation is trustworthy. This gives the About page on your company’s website a whole new level of importance. Here’s how to rework…
Kicking off the new year the right way, U.S. small businesses added 20,000 new jobs in January, equating to a 0.11 percent increase from December, according to Intuit’s Small Business Employment and Revenue Indexes. Construction, a strong indicator of the health of U.S. small businesses, was the…
Whether you handle sales yourself or have a sales team in place, prospects will only buy your product if they trust you. As Allan Himmelstein, president of Sales Coach AZ, notes: “I think most sales are lost because the rapport and trust were not well-established, not because of price or other excuses…
A small-business credit card can be a valuable tool, but it can also be a source of financial pain (or even ruin) if used irresponsibly. Rosemarie Clancy is editor-in-chief of Credit-Land.com, a website that specializes in helping people find the best credit cards for their specific needs. The Intuit…
Research shows that giving back to your community is good for business. Some 85 percent of U.S. consumers have a more positive image of a company when they know it contributes to a cause that they, too, care about. In a recent post, we looked at how entrepreneurs can be more charitable. Here are five…
The federal government recently revised its rules for doing business with independent contractors, making it easier for small companies to compete with corporate giants and win bids. While it still isn’t a walk in the park to nab one of these contracts, it should now be a little easier. According…
Price matching at retail isn’t what it used to be. Gone are the days when consumers scoured newspaper ads for the latest deals. Today, shoppers are comparing prices on their smartphones while browsing stores — and may even bring their devices directly to the customer-service desk to negotiate a…
Is It Actually Important to Have a Business Plan? (via Intuit Small Business Blog)
Everyone’s heard the story of the overnight success, a business that made it without so much as a second thought, much less a business plan. Those extreame rarities aside, taking the time to actually plan your new business in advance can provide a range of significant advantages. Here are the key…
