15 tips for picking a good name for your small business

Getting your small business’ name right is important – it creates a first impression of your business, and you won’t get many chances to change it later. Here are 15 of our top guidelines for choosing a strong small business name. Keep the small business name memorable. Keep the business name as short as possible. Be creative, but not so wacky that your audience will…

Small business blog posts we liked this week

Here are some small business articles and blog posts we found interesting this week – what have you come across lately? “Imperfect Picks” And “Uglies”: Beauty Brands Are Salvaging Damaged And Abandoned Packaging And Products at Beauty Independent Ottawa plans to forgive up to 50 per cent of COVID-19 pandemic loans to Indigenous businesses at the Globe and Mail Here’s how much of an impact…

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What are the warning signs of a franchise scam?

In the Ask a GoForth Expert section of our website, an entrepreneur wisely wanted to know about the warning signs of franchise fraud. There are all kinds of franchise opportunities available, and some seem to promise instant wealth with almost zero effort. Franchises do have a high rate of success compared to other types of small businesses, but that doesn’t mean they’re a direct path to…

Why you should diversify your small business

Now that you’ve proven your great small business idea is a great small business, what’s next? Your business plan may already account for diversification, or it may have never occurred to you. Either way, consider ways to diversify your business to stay ahead of the game. Diversification is a buffer against slowdowns You may have perfected a certain product or service that your customers love,…

Why is customer research so important?

Many entrepreneurs go into business because they have a great idea. But it’s important to consider the needs and wants of your customers. Want proof? Take the story of the Mustang. In the sixties, Ford Motor Company noticed a drop in sales of their Ford Falcon. They also noticed that two other major American car companies weren’t seeing success with similar small car models. Based…