Businesses often branch out to some other segments or niches, and small businesses are no exception. Similar to independent retailers, many are involved in far more areas than just retailing. Sometimes it can get pretty complicated. And with revenues off, sometimes those complications, and the decisions they now require, can become pretty daunting. Here are some examples of … [Read more...] about Branching Out Your Business: Lessons from Independent Retailers
Business Challenges
How to Deal with Business Failure
Try as we might, we sometimes find our businesses at the brink of failure. Debts are starting to pile up, collectors are starting to call, and all credit cards have been maxed out – and income is simply not enough to cover all expenses. It’s depressing and it’s hard. You can seriously be in a deep funk after your business failed, and you are dealing with the consequences of … [Read more...] about How to Deal with Business Failure
Managing Fear: How to Reduce Stress and Make Your Business Succeed
It is very tough to own and manage a business in today’s times. Many businesses are going bankrupt and others are struggling just to survive. How can you, the business owner deal with the stresses and anxieties of managing a business? Here are six tips on what to do to help your business succeed and help to reduce your anxieties. Take it one day at a time and try to focus on … [Read more...] about Managing Fear: How to Reduce Stress and Make Your Business Succeed
9 Killer Mistakes to Avoid When Starting a Business
When starting a business, you are bound to make mistakes. The key is to make sure that the mistakes you commit are not fatal to your business. From the book So, You Want to Start a Business?: 8 Steps to Take Before Making the Leapby Ed Hess and Charles Goetz, here are nine killer mistakes to avoid when starting a business: 1. Choosing a bad business opportunity. The … [Read more...] about 9 Killer Mistakes to Avoid When Starting a Business
Achieving Success: Faith Versus Fear Mindset
Several years ago, I went skydiving. Obviously falling out of a plane 10,000+ feet above ground isn't the safest thing you can do. To limit their liability and make sure everyone understood the waiver we were required to sign, skydiving companies have participants sit through an hour long presentation that details the things that can go wrong with your parachute and possible … [Read more...] about Achieving Success: Faith Versus Fear Mindset
7 Priorities for Your Startup’s First Year in Business
Based on the latest statistics from the Small Business Administration, a new startup has about a 50/50 chance of surviving for five years or more. To increase your startup's odds of not only surviving but growing and prospering for decades, you need to establish a strong foundation in the very beginning. "Your priorities, your commitment to the business, during the first year … [Read more...] about 7 Priorities for Your Startup’s First Year in Business
Starting a Business You Know Nothing About
Every business guru will tell you: start with what you know. You will have a greater chance of success if you know what you are getting into. But what if you want to try out something new that is drastically different from your present career or your realm of experience? Should having no knowledge of the business stop you from pursuing it? The answer is a resounding … [Read more...] about Starting a Business You Know Nothing About
8 Deadly Mistakes of Small Businesses
If you are going to survive and be a long-term success in business, then you need to be aware of the most common mistakes and pitfalls that can ruin your best-laid plans. Here are the biggest mistakes to really watch out for: 1. Inability to reach desired sales goals If you are not making the kind of sales that you need, your losses multiply as you find it difficult to … [Read more...] about 8 Deadly Mistakes of Small Businesses
Challenges Facing Small Businesses
Small businesses face a number of challenges. From the startup phase to maintaining the business to growing the business, entrepreneurs need to constantly face a number of challenges, some of which are unique to small businesses. Foremost of course of these challenges is ensuring that the business survives. According to the Small Business Administration About half of all new … [Read more...] about Challenges Facing Small Businesses
Four Common Mistakes of Business Start-Ups
There is no sure thing in business, and a lot of things could go wrong. It is important for entrepreneurs to be aware of the common pitfalls in business and take extra precautions. Here are some common mistakes that entrepreneurs make: Insufficient Market The leading cause of the collapse of a small business is its failure to determine early on if the market is … [Read more...] about Four Common Mistakes of Business Start-Ups
