If you have product flying off the shelves, congratulations! Establishing demand is one of the most challenging aspects of business. But if you have products flying off the shelves, and you're not replenishing them, you could be in trouble. Today we're going to talk about how...
Retail business is one of the oldest types of business on Earth. Anytime you buy wholesale and sell at a profit, you have a retail business. There are, generally speaking, seven different types of retail business: Department store Supermarket Warehouse retailer Specialty retailer E-commerce Convenience...
Two entrepreneurs, let’s call them Mark and Luis, went to their local Business Development Center back when each of them was soon to launch a new business. In one of the workshops they attended there, they heard: “A revolving line of credit is a flexible method...
For consumers who don’t happen to have a law degree – i.e., most people – the language of contracts is typically a lot of mumbo jumbo mixed in with a sprinkling of “wherefores” and “whereases.” And all of it can be as confusing as it...
Getting financing can be a challenge for a business owner, man or woman. But more so, if you’re a woman. And that’s not just a perceived inequity; it’s an undeniable fact. “In 2014 the House Subcommittee on Small Business and Entrepreneurism published a report that said...
In the world of banks today, small business owners often feel like the Rodney Dangerfields of loan applicants. They “get no respect,” to borrow that comedian’s old catch phrase. Since the Great Recession especially, banks have pretty much bowed out of funding small businesses. Too...
If there were a version of TV’s Price Is Right for small business owners -- one that involved setting the right prices, not guessing them -- the winners of that game would be the businesses with pricing strategies that managed to find the sweet spot....
“Do what you love, and you will find a way to get it out to the world.” --Judy Collins That quotation wouldn’t be at all out of place on the wall above the home computer of any of the thousands of sellers on Etsy, the popular...
Happy customers come back. Disgruntled ones take their business elsewhere. Who among us hasn’t experienced a rude clerk or waitress, and as a result vowed, “I’m never going back there”? Or the opposite – smiled all the way home from a store or a restaurant...
Let’s pretend for the next few minutes that you’re a lender. One afternoon, three business-loan applications land on your desk. One’s from Pope Francis. Another’s from Martha Stewart. And the third is from a local woman hoping to expand her day-spa business. Like many lenders, when...