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Are you eager to start a small business but worry that a lack of resources and/or experience will doom your entrepreneurial dreams? Then consider franchising, an approach that thousands of people from all walks of life have transformed into highly successful enterprises.
Due to the ease and popularity of search engine technology, customers can search for information about products and services instantly. Internet search advertising is now one of the fastest-growing outlets for businesses of all sizes.
Businesses who want added visibility often invest in small, text-only ads that appear atop or alongside the search engine results. Such ads are ideal for small businesses, as they offer tremendous flexibility to control costs and can be tailored to specific search keywords such as geographic area or a specific product/service.
HOW TO MANAGE A FAMILY BUSINESS
A popular American tradition is the family business. It gives spouses, parents, children, and others a chance to share a dream that can continue to grow and prosper generation after generation.
But without proper planning and management, family businesses can also be the source of contention, acrimony, and even irreparable harm to once-loving relationships. That’s why it’s important for aspiring entrepreneurs to fully understand the pros and cons of going into business with relatives and in-laws. The needs of the business may not always be compatible with family harmony, resulting in a situation that handled improperly, can jeopardize the survival of both.
Even in an age of modern and high-tech communication, the most powerful and effective means of generating new business is word-of-mouth. People turn to trusted friends or colleagues for recommendations regarding product or service providers. And because word-of-mouth referrals are free, you can’t be the return on investment that a positive referral can generate.
Small business owners, including those in stable industries, are feeling the heat of the broad economic slowdowns. Individuals tend to curb their frivolous spending while corporations decrease routine activities, delay major purchases, and shelve new initiatives.
For many small businesses with limited resources, these and other factors often combine to pressure bottom lines past the breaking point, creating a domino effect of other dilemmas such as a credit crunch or layoffs.