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,…
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…
Whether or not your small business sells directly to consumers, negotiating is part of being an entrepreneur. One thing entrepreneurs tell us often is that they want to brush up on their negotiation skills and tactics – so here are 7 of the factors that make a competent negotiator. 1) Planning skills Negotiating a sale means being preparation – as much as possible. Being prepared…
These days, it can feel harder than ever to help your small business stand out from your competitors. However, it doesn’t have to be! Try these 3 tips to help your small business stand out from your competitors. 1) Identify a specific niche Understanding your business’ overall industry is important, since it’s home to many factors that can influence your business decisions. However, “niching down”…
Many things about your business are hard to communicate in marketing materials because they’re intangible. For example, value and customer experience are largely subjective. So how can you go about communicating your small business’ trustworthiness in your marketing and social media? Our GoForth Expert Rob Campbell has some tips and considerations for showing why potential customers can trust your business. Check out Rob’s advice here!…