Key Small Business Tips for Success

Small business tips for starting your own business can put you on the path to financial success.

The SBA says that the term small business includes concerns that are organized to make a profit and have fewer than 500 employees. In this post, small business includes work at home, affiliate marketing, network marketing and online home based businesses, and I will explore small business tips to help you achieve your business goals. These tips will help you get customers and generate more sales quickly.

Here are key small business tips and questions to consider:

1. Why do you want to start a small business? Starting your own business requires commitment. So, don’t proceed to do so unless you are prepared for long hours and frustration while you are establishing your business. For many, enduring this is well worth the potential of financial security.

2. Will you market a product or service? A service business is one where you offer your expertise to clients. For a product business, you will need to offer a tangible product. Typically, a product business is more expensive to launch than a service business.

3. Do you have a simplified business plan? The thought of writing a business plan is intimidating to most aspiring entrepreneurs. However, it is possible to write a one-page plan that tells the what, who, how and where of your business. You should keep it simple. You can add details as you go. Just get it started.

4. Who is your customer? Describe your target customer in as much detail as possible. Know their needs and wants. Know how you can provide a solution to their problem. This profile will help you create a targeted marketing message and save you time and money in reaching prospects.

5. What is your pricing? Pricing is an art and a science. You need to cover your costs and generate a reasonable profit. Doing research to see what your competitors are charging can help.

6. Are you watching your costs? Many entrepreneurs tend to underestimate how long it will take for their small business to turn a profit. Don’t burden your business with too many costs too quickly. To keep costs to a minimum, hire interns and outsource or barter for services.

7. What’s your plan for getting customers? One of my coaches says the secret to business success is spending 85% of your time doing things that will lead to sales and 15% of your time doing everything else. You’ll need a marketing plan. How do you plan on attracting prospects and converting them to paying customers? Design your advertising to generate sales. Your advertising should always include an offer and an easy way for prospects to respond.

8. Are you using social media? More and more businesses are moving to social media because their prospects are on social media. Only about 25% of small businesses are using social media to build their business. So, creating a presence on social media will give you an edge. This typically means building a fan page on Facebook. There are many resources you can use to build a fan page.

Here are some small business tips to attract more customers online:

1. Be sure to add local content targeted for your specific area.
2. Make sure prospects can find you online and offline.
3. Be very clear about what your business offers.
4. Participate on social media consistently.
5. Watch what your competitors are doing. See what is working and what is not working.

These small business tips require you to be consistent. It takes persistence to establish a social media presence.

If you act on the small business tips above, you will increase your chances of success, you will effectively leverage your time, and promote your business profitably.

Best Business Bank Account

Most people that have a business need a business bank account. You may be wondering with all the choices between banks which account is best for you. Some offer services that you need while other services are only “nice to have”, you may be looking for a free business checking account or a full service operating line of credit.

Regardless of what type of account you are looking for we know fore sure that banks love small businesses. Just look at the kinds of offers they have

  • Free for the first year
  • 0 rate APR on credit transfers
  • Free checking account

The reason many of these offers are only introductory offers is because banks are aware that if a small business owner begins working with 1 bank then they are unlikely to switch when they begin to grow. Even IBM had to open a business bank account when it was very small!

what bank account will be best for you, consider…

  1. Are you always carrying a positive balance. If you are always going to be carrying a positive balance than look for banks where you will be able to get a high interest rate on your deposit
  2. Are you often requiring a line of credit to make payroll? If this is the case look into accounts which have the lowest interest rate and no overdraft penalty.
  3. If you make a lot of cash withdrawals be sure to drive around your area and identify where the bank machines are for that bank.
  4. Online banking is becoming a default free option on most business banks but make sure that the bank you are going with offers a free online banking option as this is the best way to keep your costs down.
  5. Business advice – Some banks pride themselves on being partners in your business and will offer free business consultation. Depending on you and your business this may be useful. However, if you run a high tech niche business don’t expect your banker to be able to help forecast cash flow demand through product development. Don’t forget they work for the bank!
  6. Most likely you will want a credit card for your business and it makes sense to attach it to your business bank account. Make sure to understand the terms of the credit card and take that into consideration when selecting a bank. Some banks will give credit cards terrible terms and conditions because they know the entrepreneur will be putting more emphasis on the bank account compared to the credit card.

Online Printers for Businesses: Five Great Uses

Businesses have many printing needs. While they used to have to rely on the print shop down the street, online printing companies now offer many of those services quickly and at affordable rates.

Here are five great ways to take advantage of the service of online printers for your business:

1. Stationary printing – Stationary and letterhead is, perhaps, the most prominent representation of your business. Everyone you have correspondence with will see your stationary, so having one that is well designed and printed in a high quality way will make your business appear professional and successful. Choose from text-only designs to those with multi-colored graphics.

2. Envelope printing – When mailing or delivering correspondence, envelopes are the first thing people see. These can also be professionally printed with your company name and, if you like, your logo so that your branding is immediately established to potential customers.

3. Business card printing – Inevitably, nearly everyone who interacts outside your company will need business cards. Online printers have a lot of experience with business card printing. There are hundreds of templates available online that can be used or customized to match your business needs. Plain white cards with text online, multi-colored cards, cards with logos, or those decorated with dramatic all-over graphics on both sides are all available. You can also upload your own graphical design and have it printed on cards of your choice.

4. Flyer printing and Brochure printing – When your business relies on flyers or brochures to highlight different services or products that you offer, having them produced online is quick and affordable option. Create your designs in house and then upload them to be printed. All the same printing choices, including special finishing treatments, are available.

5. Gift certificate printing – If your company offers gift certificates, having them printed professionally can make a much better impression that using stock certificates that do not identify your business. As with other materials, you can create your own design or choose from templates that can be customized to meet your needs.

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