The development of a business plan. The plan itself and the issues that affect it.
Most of the small business owners that I had as clients when I had the consulting business were expert on the technical side of their business. They were the inovators and the idea folks. However, very few had a workimg knowledge of the financial side of the business and how to manage the business from … Read more
Market research is all about gathering information to help you understand your market better. It’s the backbone of any successful business strategy. By knowing more about your customers and competition, you can make smarter decisions and avoid costly mistakes. Primary research is information you collect firsthand. This can be through surveys, interviews, or focus groups. … Read more
Alright folks, here we go. Running a small business is a thrilling ride, right? But to keep those wheels turning, you need some cash flow. I have written several articles on this site about cash flow. It is a very critical point for business success so I believe it merits it. Funding is absolutely critical … Read more
Business debt can be tricky territory, but getting a grip on the basics can make it way easier to navigate. Debt, in essence, means borrowing money that you’ll need to pay back over time, often with interest. Simply put, it’s the money your business owes to external sources, and it’s a tool to manage growth. … Read more
Financial planning isn’t just a fancy term thrown around by big corporations; it’s a lifeline, especially for small businesses. Without a solid financial plan, it’s like trying to navigate a ship without a map. You might end up somewhere, but who knows where that ‘somewhere’ will be? So, understanding the basics is the first step … Read more
Crowdfunding is like rallying a community around your business idea. Platforms like Kickstarter, Indiegogo, and GoFundMe make it easier than ever to pitch your dreams to the world, and sometimes, that’s exactly what your small business needs to get off the ground. Let’s break down these platforms and how to make the most of them. … Read more
Guerrilla marketing is all about creativity and unconventional techniques to promote your business. It’s a refreshing way to create buzz and leave a lasting impression without spending a fortune. The beauty of guerrilla marketing lies in its cost-effectiveness. Small businesses often have limited budgets, so finding innovative ways to attract attention can be a game-changer. … Read more
Entrepreneurship is the art of starting and managing your own business. It’s about having a vision and the guts to chase it. But before diving in, it’s crucial to understand what entrepreneurship actually entails. An entrepreneurial mindset is like your secret weapon. It’s all about being resilient, adaptable, and always ready to learn, unlearn, and … Read more
Running a small business feels like juggling, doesn’t it? From marketing to finance to customer service, there are a lot of balls in the air. So, let’s talk about the hurdles that small business owners face when it’s decision-making time. First up, recognizing what the real challenges are is crucial. You often deal with a … Read more
Kicking things off, a solid business plan is like your roadmap to success. Without it, you’re just wandering aimlessly. Lay out your goals, strategies, and a clear pathway to reach them. Think of it as your business’s GPS. Keep it updated, too! Budgeting mistakes are all too common. It’s easy to get carried away with … Read more