Starting a small business can be difficult—it takes courage, determination, and a substantial amount of cash. But the labor doesn’t end when you open your doors for the first time; sustaining your company takes hard work. Customers are the key ingredient to a successful business, and devoted, repeat customers—those who would choose you over your [...]
Marketing your small business is about more than just collecting business cards—it’s about creating connections. Savvy networkers know how to build a network of colleagues with similar or complementary interests. True networking does not have short-term actions in mind. Instead, it seeks to establish strong, meaningful relationships. Networking is ongoing and reciprocal; it is a [...]
Being self-employed requires passion and determination. With some hard work and creative thinking, you can turn your favorite hobby into a small business that makes money and helps you achieve your financial goals. Almost 15 years ago, the manager of the gym where I was working as a bookkeeper asked me if I wanted to [...]
Benefit plans can add considerable value to an employee’s overall compensation, and they are a key reason that many employees take—or decline—employment opportunities. That makes it important to evaluate benefit plans before taking a new job. Group health insurance benefits Group health insurance is the most common benefit offered by employers. In 2011, 85.3 percent [...]
Word-of-mouth and customer referrals are an integral part of most small business marketing strategies, and it’s possible that just a few bad reviews can make or break a business. As an entrepreneur and a yoga practitioner, I’ve discovered that yoga has much to teach us about serving customers well and addressing customer complaints satisfactorily. Like yoga, [...]
One of the most basic steps of the payroll process is distinguishing between employees and independent contractors. However, employers are sometimes foggy on what differentiates the two types of workers. Employers should have a solid idea of these concepts because there are significant tax implications. Independent contractors are becoming more and more popular among companies [...]
Small business insurance goes beyond insuring your inventory and office space. All small business owners may, at some point, have a need to protect themselves from lawsuits. These lawsuits don’t just come from employees; they can also come from independent contractors and customers. Discrimination, sexual harassment, wrongful termination—these are just a handful of the claims [...]
Starting a small business can be intimidating, but plenty of people have done it before—and done it successfully. Whether it’s opening your own coffee shop, starting a consultancy firm, or becoming a wedding planner, there are plenty of opportunities for success. Take real estate investor Theresa Bradley-Banta (pictured right), who has created two businesses, one drastically [...]
As a small business owner, it is often difficult to increase brand awareness on a limited budget—so it pays to get creative. The following four tips can jumpstart your business marketing plan and expand your reach. 1. Team up with other small business owners to double your exposure. Possible ideas include co-hosting customer events, co-branding [...]
If you’re a small business owner who has outgrown your spare bedroom or garage, or if you’re looking to expand to a new location, you might want to consider whether to buy or rent your next commercial space. Leasing Commercial Property Let’s start with making the decision to lease a commercial space. In some cases, you [...]
