You are here: Home / Archives for Small business

Using Social Networking Sites to Further Your Brand

July 9, 2011 By
Communal Conference Room 2

Image by DustyReagan via Flickr

Small business owners typically find their days jam-packed with things that need to be done. One important aspect of growth in any business is learning to increase your staying power in your industry. Consumers are wired and online. Social networking sites offer the small owner a window of opportunity to further their brand.

Here’s an enormous number: 750 Million. In July 2011, Facebook racked up 750 million active users and counting. This social networking giant, launched in 2004, is one of the most visited websites globally. Chances are good that a number of your target consumers are avid users of this site. Small business owners can create or join groups geared to attract potential and current clients, or network with other small business owners.  Customers may even tag you in a post to express what a good experience they’ve had with your business.

Starting a blog for your company is another way to reach consumers on the internet. Sites such as Tumblr, WordPress, and Blogger allow you to set up free blog space to add an extra element to your business networking. Most sites let you post pictures and videos, which you can use to your advantage. Alerting followers of upcoming sales, specials or events is simple to do.

Social networking sites are the way people stay connected. They share their experiences, likes, and dislikes. By adding social networking to your marketing plan, you are able to reach people. Besides finding local consumers, you can introduce your brand to the world-at-large.

Filed Under: Business, Marketing Tagged With: , ,

One Step at a Time: Business Expansion

June 27, 2011 By

increaseImage: entrepreneurshipsecret.com

So you’ve established a business and it is successful.  Now what? While some small business owners may relish in the achievement of their company and be satisfied with merely maintaining it, economic experts and business people agree that expansion is the best method of increasing profits and influence of your work.

There are numerous approaches in expanding one’s business. However, before you consider this, go over a basic checklist to ensure that your business is adequately equipped to handle such a development. There are hundreds of websites that give advice on the business market and everything from trading strategies, when to save and when to splurge on your business, and the most plausible ways to magnify your business.

These websites are in accordance on the topic of business expansion: be prepared to make a renewed investment in both finances and time in your business, and do not attempt to make your organization bigger on a whim.  You must know that your profits have been steadily increasing over the years, that your employees are not only enthusiastic about expansion, but also trained and prepared for it, and that you have a ground plan and several backup plans should things not go as intended, which often happens.  You have to be ready to think on your feet and not be easily discouraged.

Most importantly, keep your customers in mind: they are your buyers and the best gauge of what you should be selling, and how much of that particular product you should be manufacturing.  Maintaining a clear understanding of the fluctuations in customer wants and fulfilling those wants will uphold your company’s success.

Filed Under: Business Tagged With: , ,

Efficiently Managing Your Small Business

June 19, 2011 By

businessImage courtesy of runningasmallbusiness.com

Once you have designed prospectuses, obtained funding, hired workers, designed and launched your small business, the crucial issue of management takes the forefront.  Management is a balancing act that demands you observe the basic directives you have established for your business while maintaining its progression and profitability.

Do not underestimate the weight of management in a small business; although your organization may seem so small that true administration feels time consuming and impractical, studies have proven that small businesses that institute management modeled on bigger businesses are more likely to get ahead.  Consider reading up on small business management for more in-depth tips you can apply to your company.  Basic advice includes the following: have a handout or even a handbook that directs employees on specifics of the companies, including rules and regulations, schedules, standards of behavior, safety policies, information on benefits and time off, and basic company policies regarding non-prejudice releases and such.  Having such information on file and in the hands of your employees will make it clear what you expect from them and will give you the information you need should there be any concerns.  It is also crucial to treat all employee matters the same, and advising them to refer to their handbook can alleviate minute problems.

Your leadership as a small business owner is irreplaceable.  Never allow yourself to be undermined and do not fear taking charge; after all, you did start the company for a reason.  And remember to enjoy yourself—operating a small business can be a bit demanding, but at the end of the day it must remain rewarding.

Filed Under: Business Tagged With: , ,

How to Hire Smart for Small Business

June 8, 2011 By
Employ00 08

Image via Wikipedia

Small business does not possess the same capacity for widespread hiring practices that big business does.  Small businesses also depend on the quality and company proficiency much more than big businesses do, making hiring a crucial factor in the success of a littler company.  Hiring your first employees is demanding process, but remember that who you hire will determine the character of your organization and its potential accomplishments.

Many business websites have plenty of advice to offer in the hiring arena, specifically in regards to small business.  Based on the advice from these websites, it is important to hire someone that is accustomed to the atmosphere of a smaller business.  Employees at smaller businesses often have to work more intensely on specific projects, as there are not as many workers as a bigger company to spread the work thinner.  Small businesses also demand better charisma and customer service to keep clients returning to your business again and again, rather than shopping at a larger chain.

Employees at a smaller business must also come into the job capable and able to learn quickly, as on the job training does not work as well at a smaller business than a larger company, where there are more people to pick up the slack.  A remarkable bit of advice on hiring for a small business is to hire individuals for their own qualities and talent, rather than seeking to merely fill an open spot.  With the right employees, your small business can successfully establish itself in the business world and flourish in the years to come.

 

Filed Under: Business Tagged With: , ,

Small Business during Tight Economic Times

May 23, 2011 By

http://www.flickr.com/photos/54400117@N03/

Small Business during Tight Economic Times

Managing a small business can be a real challenge especially when you are trying to do so in a tight economy. Keeping a handle on your expenses is vital to success and to wearing through tough times. Taking a bit of time to review your current financial status is an excellent way to make some decisions regarding current and future spending habits. You may find that you are spending money in areas that you certainly could manage without and the funds might be better spent keeping your business afloat through the difficult days. You may even want to ensure that you have funds set aside in the event of a turn for the worse during these times. This could get you through to the next level.

When taking stock in current expenses and future expenses it is important to remember that there are many aspects of your spending that can be easily curbed for the better of your business as well as any employees you might have. While you may be supplying some wonderful extras such as bagels on Friday or lunch once a month it is far more important to keep your business thriving and affording you the ability to keep your employees with a job.

You will find them to be most accommodating given the current state of economics. Most would rather the business continued to flourish rather than having the extras that you might provide to them. Taking time to really assess your current situation is vital surviving difficult times.

Filed Under: Business, General Tagged With: , ,

Saving Time and Money with Cloud Computing

May 19, 2011 By
Cloud computing icon 

Image via Wikipedia

Cloud computing has recently gained immense attention from small business owners and corporate executives alike. While corporate executives enjoy the mobility of cloud services, small business owners often use the cloud to save money. Cloud technology is an excellent alternative for individuals looking to save time and money.

A central advantage of cloud computing is its ability to be mobile. An executive or business owner can upload files and address clientele issues without having to return to the office. Such mobility saves an individual a thirty minute drive to the office and associated gasoline expenses. The mobility of the cloud allows companies to be more proactive without investing additional funds and resources.

Another benefit associated with cloud technology is the possibility of easily expanding. As a company grows and more technological involvement becomes necessary, businesses can simply invest in another cloud plan. Such option to upgrade eliminates the need to purchase additional computers and software technology that heavily weighon a company’s budget. A simple upgrade also saves an immeasurable amount of time on software installation and equipment maintenance; this leads to increased productivity and gains in revenue.

In addition to installation costs, fewer computers also means fewer utility costs. Instead of paying $3,000 per month for electricity, cloud computing may reduce this utility bill to $300. Reduced utility bills also help save the environment, which eliminates the need to hire new staff to brainstorm new ways to “Go Green.” Cloud technology helps the environment and companies preserve resources.

Filed Under: Business, Marketing Tagged With: , ,

Managing a Small Business on a Budget

May 15, 2011 By

http://www.flickr.com/photos/o5com/

Managing a Small Business on a Budget

While there are many who have tacked managing a small business on the small business budget, times are even tighter and it can be a large undertaking. It is vital that you have a good handle on your current business expenses and income in order to manage what comes your way. You will need to try to keep the business well within the budget and not overspend or over indulge on the many things that come along for a small business. Taking some time to assess where you need the business to go and where it is now is the first step to managing during times of a tight economy.

When you are working on keeping a small business flourishing in times of trouble it is important to watch every penny that is spent. Cutting out some of the unnecessary spending such as money that you spend on extras around the business, food supplied to customers and any other extra expenses you do not need. It is important that you are not spending all the profits and that the company is putting something aside for emergency expenses to keep you afloat during the trauma that can come with a stiff economy. You will want to safeguard your employees and your customers by keeping as much money in your business as possible for as long as possible.

Do not under estimate the power of a strong reign on expenses for the success of any business even small business. You can certainly find solutions to the spending problems if you focus on what is needed to keep on going.

Filed Under: Business, General Tagged With: , ,

Small Business Mistakes – Not Using Profits To Help The Business Grow

April 17, 2011 By
National Small Business Week Day 1

Image by ShashiBellamkonda via Flickr

Small business entrepreneurs always complain that they are the worst hit whenever a recession hits economy. Well, that they do not enjoy easy access to funds and earn low profit on volume of production are justifiable areas of concern. However, another factor that one must consider is the low percentage of funds that small businesses entrepreneurs plow back towards expansion and capacity building.

Nine times out of ten, entrepreneurs treat the small businesses as their personal property and withdraw all profits as drawings for their sustenance. A certain amount of remuneration is essential for survival. However, it one must remember that a small business shall grow with time.

Feeding one child all the food in the house and starving the other is obviously going to lead to complications. One cannot complain later that the starved child falls ill frequently. One must balance personal requirements and requirements of business in such a manner that both needs are sated to the maximum extent possible.

At the end of the day, it is your business that is going to benefit in the long run. When a recession hits the economy, you will be in a position to survive and take advantage of the new market conditions.

Saving money or plowing back profits into the business is something more than just building a cash balance. It requires a sensible approach towards long term goals of your business. Having cash in hand or investing the same machine are not two sides of the same coin. Investment in machine is an asset and will offer fantastic returns in the long run.

Filed Under: Business Tagged With: , ,

Train the Trainer

March 16, 2011 By

Expanding a small business means expanding everything from the number of pens ordered during the weekly office supply inventory to profits. It encompasses a wide range of activities as well. Finding bigger office space, understanding the impact on corporate taxes and even hiring. What management as many small companies fails to realize is how important training is during this critical period, especially in the hire of hiring. Implementing a training process for hiring managers is critical for a successful expansion of a small business.

The reasons for this are plainly obvious: a training program will help hiring managers select better potential employees and ensure that the process is legal.

Train employes carefully in areas such as resume review, interviewing techniques and offering a job to a prospect. While this seems like a waste of time, the truth is spending training time on these areas will better prepare a company to hire only the best employees. Other areas to consider training are back ground screening and drug testing.

It is almost as important to understand the impact of rapid expansion to old and new employees alike. Integrating new employee training to include a focus on corporate culture can help minimize this impact. By carefully reviewing, updating and training employees on the hiring process small businesses will have one less concern.

Filed Under: Business Tagged With: , ,

Hiring With A Plan

March 10, 2011 By

One area that many small business owners overlook is the importance of developing hiring practices that can be implemented and used as the business begins to grow. As a small business owner, developing a hiring manual and program is often the last thing they have time for. What they do not realize is that failing to create a solid process can lead to future problems down the road.

Small business owners often find themselves having to hire new employees on the fly – and do so with little regard to policy – if it even exists. By developing a standard for hiring, small business owners can ensure that they are hiring quality employees, following applicable local, state and federal laws and have control over the future of their business.

The truth is there are a large number of laws that govern the hiring process. From carefully noting what questions cannot be asked during the interview process to the legalities of a job offer, ever aspect of the hiring process must be carefully documented. Failing to do so often means more than hiring a ‘dud.’ In many cases, not following good hiring practices can actually open the small business up to legal troubles.

Take the time to develop a hiring manual – it can save your business a lot of time, heartache and money – it just makes sense.

Filed Under: Business, employment Tagged With: , ,
« Older Posts