Getting a bank loan for your business may be more difficult than usual in today’s economy. However, if you give your bank a thorough, organized, and well-supported loan proposal, you’ll increase your chances of getting the money your business needs.
Both political parties are doing a lot of talking about jobs — talk about creating more jobs, bringing outsourced jobs back to the U.S., and beefing up the manufacturing sector so America once again makes products.
Delegating (giving someone authority to act and react to situations without referring back to you) is an important management tool. But many small business owners prefer to take on almost everything and find it difficult to divvy up tasks to staff members for fear of losing control.
It seems that the challenge of building a team has been with us forever. People are the essential ingredient in all businesses however many business owners struggle to harness and develop the huge opportunity that a motivated and committed team of people can bring to a business.
In any client-based business, reputation is everything. The power of simple word of mouth can make or break your firm. Positive reviews not only improve customer retention but they can be also used in your marketing efforts to generate referrals and more business.
Business owners focus a lot of attention on building better products. When their products are hot, the company does well, despite other shortcomings. Certainly, new and better products are essential, but focusing on building a better business – one that readily adapts to change and quickly responds to crisis may be even more important.
As the summertime school vacation season approaches, young family members may be looking for a job — and having a hard time finding one. Hire them in your family business, and you get a double benefit: helping the kids gain valuable experience and garnering tax breaks for your company.
Taking a much-needed break? Ensure that you will enjoy the peace and quiet by tying up loose ends before ditching your desk.
It is not likely that you will receive any notification before a customer decides to terminate your relationship- they will simply stop coming back. Learn to recognize some of the warning signs early and you may save you and your team members the headache of losing a customer.
Don’t just boast about your awesome customer service- create a system and take the steps to really mean it.