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When it comes to purchasing products as consumers, our buying behavior typically falls into two buckets: 1. Impulse purchases (e.g., that garment that caught your eye at the store) 2. Planned purchases (TVs, cars, cell phones, tablets, vacations, home renovations, etc.) The key difference between these two purchasing models is the length of the sales cycle – and it’s an important distinction for business owners to know. Why? The sales cycle for impulse purchases is obviously the shortest. While branding, marketing,...
by Caron_Beesley, Community Moderator on Thursday, September 13, 2012 - 04:19
According to Kauffman Foundation, young entrepreneurship in the U.S. is on the rise, with the 20-34 age group comprising 29 percent of the total new entrepreneurship activity in 2011. Entrepreneurship can be an exciting adventure, and for the young it can be easier than you might think. The barriers – including cost of entry –are low, (working at home, online, etc.), and younger people are often unconstrained by the commitments of family and marriage. And of course, there are inspiring role models from big names like Facebook...
by Caron_Beesley, Community Moderator on Thursday, September 6, 2012 - 07:44
Does your business ebb and flow with the seasons? Looking to hire extra staff for the up and coming holiday season, or find that you wished you’d hired temporary workers this past summer? Whatever your plans, hiring seasonal workers involves following a few rules of the road. Many of the laws and regulations that apply to full-time employees also apply to seasonal or part-time employees. Here’s what you need to know as you plan your seasonal workforce: Labor Laws Still Apply Laws that cover harassment, discrimination, and...
by Carol Chastang, Community Moderator on Thursday, August 30, 2012 - 15:39
If you run a small business, you understand the benefits of “business continuity” and the need to get a plan together to protect your company from being shut down by a disaster. As a business owner, you also depend on the well-being of your employees, clients, customers and neighbors to stay in business. So it makes good business sense to do what you can to help them prepare for any kind of disaster. The same basic preparedness tips that work for businesses – storing important records offsite, having...
by Caron_Beesley, Community Moderator on Thursday, August 30, 2012 - 07:02
Do you know where your company is headed? How do you know when it’s time to grow? How can you manage that growth so it doesn’t run away with you? In this five-minute video – Strategies for Growth – SBA, in partnership with Dell, talked to Carey Wilson of the Maryland Small Business and Technology Development Center. He offers the following five valuable tips for preparing your small business for growth. 1. When is it time to grow your business? You can only grow when business indicators show that you are ready for...
by Caron_Beesley, Community Moderator on Thursday, August 23, 2012 - 07:43
Thinking of exporting your products or services? Want to expand your existing exporting business? The U.S. government can help. The SBA, for example, is making it a priority to help small business owners develop or expand their exporting activities through initiatives such as its Export Loan Programs and free online informational videos. What else does Uncle Sam offer? Well, did you know the U.S. government can help target and facilitate meetings with potential international partners and buyers? Or that it provides U.S....
by Caron_Beesley, Community Moderator on Thursday, August 16, 2012 - 07:20
If you have a business blog, then you are probably aware of the challenges of coming up with topic ideas, finding time to write, and – let’s face it – keeping that blog alive. This explains why blogs on the subject of blogging are ranked as the most popular articles here on the SBA.gov Community. Here are just a few: Thinking of Starting a Blog? Tips to Help You Start, Maintain & Grow a Small Business Blog! Never Run Out of Blog Topic Ideas: Here are 36 8 Tips for Keeping your Business Blog Current, Relevant and...
by Caron_Beesley, Community Moderator on Thursday, August 9, 2012 - 07:29
Selling to the federal government can seem daunting for many small business owners. However, the market is lucrative – approximately $100 billion in contracts are awarded annually to small businesses – and once you have your foot in the door, it can be a profitable, long-term revenue source. SBA has numerous resources and programs to help small businesses get established in this space, including the Government Contracting Guide and the Government Contracting Classroom. If you’re new to this market, you can also check out...
by Caron_Beesley, Community Moderator on Wednesday, August 1, 2012 - 19:06
One of the more perplexing questions small business owners ask is, “Why did I lose that deal?” or even more worrying, “Why do I keep losing deals?” Whether you sell to other businesses or directly to consumers, you’re not going to win them all. But there are always going to be times when a sale that looks like a sure thing goes cold – for no apparent reason. If these times worry you and you’re looking for a better win rate, here are five things you can do about it. 1. Be First and Be Prepared to...
by Caron_Beesley, Community Moderator on Thursday, July 26, 2012 - 07:35
Hiring new employees is an opportunity, but it’s also a huge risk. So perfecting your interviewing skills is critical. But what kind of interview questions are most effective at helping you find an employee with the right skills and experience, and the best fit for your company culture? The most successful interviews are based on facts, and these are usually best gleaned via the behavioral interview technique. As in life, actions and (in this case) past actions, speak louder than words. You can get a pretty good sense of how anyone is...
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by Caron_Beesley, Community Moderator on Thursday, September 20, 2012 - 07:24