Start contemplating the right business structure for your business. You’ve probably heard corporations generally demand more administrative time and resources than other entities. For example, it takes more time and money to meet all your compliance requirements as a corporation than as an LLC. And sole proprietors fall into that easier to manage class of…
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A reader from Anchorage, Alaska asks: “I am thinking of becoming an entrepreneur and starting a small business. But my current job is so uninspiring – I don’t want to get stuck in another boring career. Can you tell me, what does an entrepreneur business owner do all day?” – Susie M. from Anchorage Fantastic…
Good business leaders constantly look for ways to help their employees perform at their best. They monitor their employees’ performance regularly to see if anyone is lagging behind. They know these underperformers not only have a direct negative effect on the business. But they also exert an indirect effect by lowering the morale of the…
What drives people to do what they do? The answer to that question is as varied as there are things to do. However, having and living with purpose will determine if you are going to thrive in all aspects of your life. And according to an infographic from Online College Plan, you will fare much…
Think direct mail as a form of business marketing and communication is dead and buried? Well, think again. Research shows direct mail campaigns generate five times more purchases than email campaigns. As a result, small businesses, sending direct mail to customers and prospects get results. For example, postcards to catalogs have become a cost-effective way to…
Upselling is about getting the same customer to buy something else after an initial purchase. Here’s why you need to know how it works. Research says you’ve got a 60-70% better chance to make a second sale to an existing customer. Upselling Techniques Here are 10 proven upselling techniques you can use right away. Offer…
Many popular retailers are going out of business these days which can make it seem even riskier to have a brick and mortar business. With so many stores moving online, I still believe that small local businesses can survive and even thrive. It all comes down to how you market it and manage profit. Running a…
Are you not clear about your job as a small business owner? Are you frequently having work-family conflict? If your answer is yes, then you need to take a paradigm shift for your own good. According to research conducted by The Institute for Entrepreneurship and Free Enterprise, Ball State University, “Emotional exhaustion caused by role…
When most people think about office lighting, they picture old, washed out fluorescents. But don’t settle for this solution. Today, you’ll find plenty of different lighting options that can help you create a stylish and practical office space. Office Lighting Ideas Whether you work out of a home office or a traditional office building with…
As trade negotiations between the U.S. and China continue to intensify, the talk of recession is on the front burner. However, the U.S. economy still has strong fundamentals, and anxiety about money by consumers is considerably lower than the 50-year average. But no matter how likely or unlikely a recession is about to hit the…
Has your retail business kept pace with the way consumers prefer to buy today? Shopping habits are changing faster than ever. And there are a myriad of options for shoppers to choose from. So it’s a good idea for every small retailer to regularly consider. What are the latest developments in consumer buying habits? 2019…
Sponsored Post Traditional small businesses may be hesitant to dip their toe into new technology. But for 5P Consulting, a small consulting firm founded in San Diego, technology is the very business of their business. 5P Consulting’s mission is to optimize organizations and drive them to improve business productivity through process and technology. After investing in…
Clothes shopping has been largely the same for decades. But online customized clothing marketplace Balodana wants to change all of that. The online clothing marketplace offers customized sizes and tailoring options that allow shoppers to find the perfect fit. And people can find options from creators around the world. To learn more about this unique…
The manufacturing industry has changed quite a bit through the decades. As a result, today there are still more than 12.8 million manufacturing workers in the U.S. And the majority of domestic manufacturing firms remain small businesses. Vintage Factories But the scope of the manufacturing industry, the technology and equipment used and the overall experience…
Not all the advice that a budding business leader hears on a podcast will be particularly actionable or beneficial. There is, however, some very good information and perspectives out there. To help newer leaders be more aware of things they can and should do in regards to their business, we asked members of Young Entrepreneur…
No matter how much your company makes, you can’t grow if you fritter away your revenue. Small businesses, especially startups running lean, must make the most of every dollar. Businesses don’t waste money the same way consumers do. While irresponsible consumers might eat out every night or drain their savings accounts, companies lose cash in…
Most small business owners start with a vision. The vision in their mind tells them what success is. And predicts what it will be like when they get there. For most people, achieving success always involves working harder, faster, taking more risks. It also requires making more personal sacrifices. Unfortunately when we finally get there…
The U.S. economy is driven by consumer spending, which makes up close to 70% of the Gross Domestic Product (GDP). Even though the economic indicators are solid at the moment, the slightest apprehension by a small number of consumers can dramatically change the economic outlook. Dr. Dan Geller, a behavioral economist and the developer of…
Constant improvements to chatbot technology allow more accurate bot interactions. As a result, chatbots have changed the customer service game. This shouldn’t surprise anyone. Consider that chatbots allow quicker response time to customer queries and faster resolutions. In fact, a HubSpot study found 71% of people are willing to get assistance from messaging apps. So…
Background checks are par for the course when it comes to applying for a new job. In the past, this meant checking references, criminal records and even drug use. But with the advent of social media, companies are now trying to check every post from a candidate. So, it is not surprising 82% of people…
Small businesses employ 58.9 million people and account for 44% of U.S. economic activity. For B2SMB brands, this segment represents a $500 billion market. Recognizing these brands allows small businesses across the country to identify the top performers. And this is what the BEST2 SMB AWARDS 2019 looks to do. The award will recognize the…
