Free daily tips, information, advice and ideas
to help you better manage your small business.
Technology moves at an incredible speed. Getting a website for your small business was an early concern. But we've moved far beyond that first website.
Today's technology offers many alternatives to finding and keeping clients and customers. There are many choices. Facebook, LinkedIn, Instagram, Pinterest, Twitter, and more--all these represent paths to growing a business.
Then came the app. Many big companies try to reel us in with apps. But the big boys are still learning the ropes. Some do a good job, others not so much.
Apps differ drastically from the older website. Content on websites is usually lengthy and requires some navigation. Content on apps is very brief and to the point.
Example: Justine runs a restaurant serving people from a wide area. Many of these customers come from local corporations, businesses, and professional offices. In the past, Justine sent out faxes to regulars showing the special of the day. This brought in diners for lunch who otherwise might have gone elsewhere. But faxes are so, well, yesterday. Justine discontinued the fax in favor of an app for mobile phones. This has taken ordering to a whole new level. Customers now order ahead and their meal is ready when they arrive. Justine still posts on Facebook her mouth-watering creations, and the website still shows the entire menu. But the app has captured the attention of many more.
Today's tech-savvy customers do not waste their time trying to find you. Today, it's more and more about them, not you. They lose interest with anything that's hard to navigate, that takes multiple steps to get what they are looking for, or that lose track of where they were when they interrupt the experience.
Examples: Apps have exploded in popularity. If you are not quite ready to have your own app, consider the other social media. Facebook offers an easy alternative for small businesses. You can post for free or you can buy ads. The list of users is endless--restaurants, dress shops, cafes and pizza shops, fitness centers, gift shops, chiropractors, holistic practitioners, auto repairers, galleries and artists and artisans. Quick pictures uploaded to your social media pages attract customers and referrals.
Get on board today's galloping technology. If you already have a website, take it to the next level with Facebook. Consider having your own app. Hey! You have to keep up. Apple is changing the way you'll get paid in the future. One day you'll be explaining to tomorrow's kids just what a credit card was.
The marketplace is on the move. Galloping technology provides the horsepower today. Are you still driving a stagecoach? How about slipping behind the wheel of a Lamborghini?
Tuesday, April 14, 2015
Monday, April 13, 2015
Speeding up referrals
Free daily tips, information, advice and ideas
to help you better manage your small business.
Everyone in business knows the value of referrals. Referrals come to you on the wings of another's reputation. Mary mentions you and your work to Janice who calls you.
Referrals happen quite naturally. And they happen all the time. People love to talk to others and your business can come up in their conversations.
You can speed up this process using all sorts of methods. Today's social media can put older advertising methods to shame. Facebook is much quicker and more effective than an ad placed in the local newspaper.
Example: John is a plumber. He did not renew his telephone book ad when it ran out. Instead, he put the word out on Facebook--posting pictures now and then showing leaky faucets. The pictures were reminders that everyone needs a plumber--sooner or later. John got calls as the referrals went around the neighborhood.
Fitness centers, salons, wellness centers, bakeries, garden centers, and others use social media to extend their referral reach these days. But some older methods still work beautifully.
Example: Takisha opened her small neighborhood restaurant offering meals based on her mother's recipes. After the initial grand opening activity, business settled into a ho-hum routine. She knew that, if she could get more people through the door, they would become regulars--and bring even more people. To spread the word, she had some special cards printed. One side showed a colorful picture of a plate overflowing with food. The other side was printed like a coupon--present the card and receive any menu item at half price. The card was not to be used by the customer but passed on to a friend, and there was an expiration date. Soon the cards began to come back in, and Takisha saw faces she had not seen before. For the price of one half-price menu item, she doubled her customer base by putting regulars to work in the field. She continues using this method about 2 or 3 times each year.
Example: Robert runs a small construction company. He handles projects small and large. To grow he actively follows up with clients by visiting them, ferreting out any problems they might have, nails down any future work they might be planning, and he asks for referrals. These follow-ups enhance Robert's reputation and keep his construction capabilities fresh in their minds. Many of his customers refer people to Robert, especially since Robert reminds them what he can do by following up.
When you go looking for ways to speed up the referrals, don't ignore methods that have worked in the past. Social media can be very effective, but older methods can still work. The trick is to get the balance in place that works for you and your business.
Asking for referrals still works. If you have a good relationship with your clients and customers, they won't mind being asked to refer others to you. As with anything else, don't become a pest about it.
to help you better manage your small business.
Everyone in business knows the value of referrals. Referrals come to you on the wings of another's reputation. Mary mentions you and your work to Janice who calls you.
Referrals happen quite naturally. And they happen all the time. People love to talk to others and your business can come up in their conversations.
You can speed up this process using all sorts of methods. Today's social media can put older advertising methods to shame. Facebook is much quicker and more effective than an ad placed in the local newspaper.
Example: John is a plumber. He did not renew his telephone book ad when it ran out. Instead, he put the word out on Facebook--posting pictures now and then showing leaky faucets. The pictures were reminders that everyone needs a plumber--sooner or later. John got calls as the referrals went around the neighborhood.
Fitness centers, salons, wellness centers, bakeries, garden centers, and others use social media to extend their referral reach these days. But some older methods still work beautifully.
Example: Takisha opened her small neighborhood restaurant offering meals based on her mother's recipes. After the initial grand opening activity, business settled into a ho-hum routine. She knew that, if she could get more people through the door, they would become regulars--and bring even more people. To spread the word, she had some special cards printed. One side showed a colorful picture of a plate overflowing with food. The other side was printed like a coupon--present the card and receive any menu item at half price. The card was not to be used by the customer but passed on to a friend, and there was an expiration date. Soon the cards began to come back in, and Takisha saw faces she had not seen before. For the price of one half-price menu item, she doubled her customer base by putting regulars to work in the field. She continues using this method about 2 or 3 times each year.
Example: Robert runs a small construction company. He handles projects small and large. To grow he actively follows up with clients by visiting them, ferreting out any problems they might have, nails down any future work they might be planning, and he asks for referrals. These follow-ups enhance Robert's reputation and keep his construction capabilities fresh in their minds. Many of his customers refer people to Robert, especially since Robert reminds them what he can do by following up.
When you go looking for ways to speed up the referrals, don't ignore methods that have worked in the past. Social media can be very effective, but older methods can still work. The trick is to get the balance in place that works for you and your business.
Asking for referrals still works. If you have a good relationship with your clients and customers, they won't mind being asked to refer others to you. As with anything else, don't become a pest about it.
Friday, April 10, 2015
Goodbye corporate
Free daily tips, information, advice and ideas
to help you better manage your small business.
Leaving corporate America to start a small business can be an education in itself. I know, because I did it.
Lucky for me, I grew up in a family of small businesses. Drawing on that past experience, I was prepared for the daily activities of running a small business.
In corporate America, you don't worry so much about absent employees, finding new clients and customers, cash flow shortfalls, and cleaning the place up on a regular basis. In small business America, you are your own back-up.
Example: Catherine had a successful career at a major corporation. When the company offered early retirement packages, she took advantage of it and left with a substantial payout. She took some time off and looked around for a small business. She homed in on a fast food franchise, joined the local chamber, and proudly held a grand opening. Then the hard lessons came--fast and furious. She dealt with kitchen inspectors and signage people, she mopped the floor when the cleaning people didn't show up, she calmed upset customers, she jumped in the cook fell ill. Exhausted, Catherine sold the business. Today, she makes pottery in her garage studio and is building a business she loves.
In corporate America, other departments are at your beck and call. Someone else can handle all the small problems. If there is a big problem, you hold a meeting.
In small business America, you are it. You handle whatever comes up. The hands you depend on are at the ends of your own arms. And there's no time for meetings.
Example: John also took an early retirement package from a major company. He had long experience as a company sales representative, and he had built up a substantial list of satisfied clients. John invested his payout in municipal bonds. Then he started a one-man business as an independent manufacturer's representative. He was careful not to compete with his former employer, but the clients knew him and he knew them and they needed other products and services. John used these relationships to quickly build a business of his own.
Most of the people I ever knew in corporate America have thought about leaving. There is something about being your own boss that is very appealing.
When you decide to leave, look in the mirror. Are you up to running your own operation? Do you know the business you are considering getting into? Do you have enough money to last at least a year with no paycheck? And, most importantly, what is the market for what you are considering? Where is that market headed? What is the competition? With the marketplace in mind, can you see your way clearly ahead?
The market for your products/services forms the basis for a business plan. All the pieces of your business plan come down to the bottom line. Numbers don't lie.
Corporate America and small business America live on different planets. They speak different languages. The culture is completely different. Before you jump, consider it carefully.
If you leave corporate America to establish your own small business, make certain that it is something you love. You must be passionate about the business you go into. That way, you won't mind all those dirty little details--like mopping the floor.
to help you better manage your small business.
Leaving corporate America to start a small business can be an education in itself. I know, because I did it.
Lucky for me, I grew up in a family of small businesses. Drawing on that past experience, I was prepared for the daily activities of running a small business.
In corporate America, you don't worry so much about absent employees, finding new clients and customers, cash flow shortfalls, and cleaning the place up on a regular basis. In small business America, you are your own back-up.
Example: Catherine had a successful career at a major corporation. When the company offered early retirement packages, she took advantage of it and left with a substantial payout. She took some time off and looked around for a small business. She homed in on a fast food franchise, joined the local chamber, and proudly held a grand opening. Then the hard lessons came--fast and furious. She dealt with kitchen inspectors and signage people, she mopped the floor when the cleaning people didn't show up, she calmed upset customers, she jumped in the cook fell ill. Exhausted, Catherine sold the business. Today, she makes pottery in her garage studio and is building a business she loves.
In corporate America, other departments are at your beck and call. Someone else can handle all the small problems. If there is a big problem, you hold a meeting.
In small business America, you are it. You handle whatever comes up. The hands you depend on are at the ends of your own arms. And there's no time for meetings.
Example: John also took an early retirement package from a major company. He had long experience as a company sales representative, and he had built up a substantial list of satisfied clients. John invested his payout in municipal bonds. Then he started a one-man business as an independent manufacturer's representative. He was careful not to compete with his former employer, but the clients knew him and he knew them and they needed other products and services. John used these relationships to quickly build a business of his own.
Most of the people I ever knew in corporate America have thought about leaving. There is something about being your own boss that is very appealing.
When you decide to leave, look in the mirror. Are you up to running your own operation? Do you know the business you are considering getting into? Do you have enough money to last at least a year with no paycheck? And, most importantly, what is the market for what you are considering? Where is that market headed? What is the competition? With the marketplace in mind, can you see your way clearly ahead?
The market for your products/services forms the basis for a business plan. All the pieces of your business plan come down to the bottom line. Numbers don't lie.
Corporate America and small business America live on different planets. They speak different languages. The culture is completely different. Before you jump, consider it carefully.
If you leave corporate America to establish your own small business, make certain that it is something you love. You must be passionate about the business you go into. That way, you won't mind all those dirty little details--like mopping the floor.
Thursday, April 9, 2015
Exploiting trends
Free daily tips, information, advice, and ideas
to help you better manage your small business.
The marketplace and the economy, regulations and competition, galloping technology--you're sailing your small business boat on an ocean full of sharks. But the biggest and badest shark is the marketplace.
The marketplace can put the wind at your back or it can rip your sails apart. The marketplace can change directions with the slightest breeze. Fads and fashions come and go, but longer term marketplace trends give you more time for success.
Some marketplace trends are more stable than others. They last longer. While last year's phone can suddenly appear dated, other trends take years to develop, peak, and decline.
Example: Doris saw a business opportunity long before others did. Many years ago, she noticed that people were increasingly concerned with the foods they ate. She investigated the beginnings of a market for healthy foods, and she decided to take the plunge. She established a small health foods store, carrying natural and organic foods. As the market caught up with her, she added gluten-free, lactose-free, sugar-free and other specialties. She offered foods imported from Europe where they seemed to be ahead of this market curve. Her customer stream was thin in the beginning, but her regulars spread the word for Doris. When she added non-GMO foods, she held an open house and brought in a nutritionist to explain and answer questions. Today, Doris promotes her operation on social media and regularly schedules talks at the store.
Example: Tom was interested in farming. Not the traditional farming like his father pursued, but the newer technology of hydroponics. When his father died, Tom inherited the family farm, sold it, and bought the empty building that once housed a factory on the edge of town. Here, Tom began installing hydroponic equipment and set up his beginning farming operation on the first floor of the building. Today, he grows many types of green leafy vegetables including a dozen different lettuces. He is adding tomatoes, peppers and cucumbers on the second floor. In the basement, he has a mushroom operation underway. His farming operation is immune to changes in the weather.
Examples of marketplace trends are everywhere around you. Some are short-term while others are longer-term.
If you are starting out, catch the longer-term wave and ride it to success. If you are already in business, use the short-term trends to increase your customer/client base and grow your operation. Either way, you are exploiting trends in the marketplace.
The marketplace is made up of customers and clients, a restless bunch. They are always on the move. Keep up with them. Better yet, get ahead of the curve.
to help you better manage your small business.
The marketplace and the economy, regulations and competition, galloping technology--you're sailing your small business boat on an ocean full of sharks. But the biggest and badest shark is the marketplace.
The marketplace can put the wind at your back or it can rip your sails apart. The marketplace can change directions with the slightest breeze. Fads and fashions come and go, but longer term marketplace trends give you more time for success.
Some marketplace trends are more stable than others. They last longer. While last year's phone can suddenly appear dated, other trends take years to develop, peak, and decline.
Example: Doris saw a business opportunity long before others did. Many years ago, she noticed that people were increasingly concerned with the foods they ate. She investigated the beginnings of a market for healthy foods, and she decided to take the plunge. She established a small health foods store, carrying natural and organic foods. As the market caught up with her, she added gluten-free, lactose-free, sugar-free and other specialties. She offered foods imported from Europe where they seemed to be ahead of this market curve. Her customer stream was thin in the beginning, but her regulars spread the word for Doris. When she added non-GMO foods, she held an open house and brought in a nutritionist to explain and answer questions. Today, Doris promotes her operation on social media and regularly schedules talks at the store.
Example: Tom was interested in farming. Not the traditional farming like his father pursued, but the newer technology of hydroponics. When his father died, Tom inherited the family farm, sold it, and bought the empty building that once housed a factory on the edge of town. Here, Tom began installing hydroponic equipment and set up his beginning farming operation on the first floor of the building. Today, he grows many types of green leafy vegetables including a dozen different lettuces. He is adding tomatoes, peppers and cucumbers on the second floor. In the basement, he has a mushroom operation underway. His farming operation is immune to changes in the weather.
Examples of marketplace trends are everywhere around you. Some are short-term while others are longer-term.
If you are starting out, catch the longer-term wave and ride it to success. If you are already in business, use the short-term trends to increase your customer/client base and grow your operation. Either way, you are exploiting trends in the marketplace.
The marketplace is made up of customers and clients, a restless bunch. They are always on the move. Keep up with them. Better yet, get ahead of the curve.
Wednesday, April 8, 2015
Party promotions
Free daily tips, information, advice and ideas
to help you better manage your small business.
A big splash draws more attention than a private conversation. Bringing many people together creates excitement. It gets people talking and it sets a new base line for attitudes and outlooks.
Gatherings can be an important activity to promote business. They can be small and intimate or they can be large and expansive.
Example: Jason runs an upscale salon. His regular clients keep him busy, but he wanted more. He trudged up and down the sidewalks in the town, talking to other shop owners and office managers. He engaged everyone, talking them into participating in a town wide event. Business owners bought into Jason's idea--every shop agreed to hold demonstrations, have drawings for merchandise, offer gift certificates, give out free samples, or provide children's activities, and more. Jason also arranged for sidewalk musicians who would perform for free, and craftspeople agreed to set up on the sidewalks demonstrating their crafts. The big day came and the event attracted widespread attention, bringing new people into the town where they discovered shops new to their shopping experience.
Example: Anna runs a small bakery. Her bakery attracts people with health concerns. She offers all sorts of items--gluten-free, nut-free, sugar-free, egg-free, lactose-free, and more. She met Susan the nutritionist at a MeetUp networking event. Anna and Susan put together an event of their own at Anna's bakery. She set out a big table of goodies and Susan talked about nutrition and answered questions from the attendees. The event attracted new customers for each of the women. They plan to hold a similar event every couple of months.
Events can be held by two businesses working together. Or they can involve a whole community. By partnering with others, you can attract much more attention than you can by acting alone.
Fun happenings bring people together. Informational sessions get people thinking about their problems and realizing that your business and expertise can help them. At the same time, events help you promote your particular business.
Many businesses hold events acting alone. You don't need to partner with others to hold a successful event. Think about passing out information and answering the general public's questions. Get the word out on social media to attract the attention of new customers for your products and services.
to help you better manage your small business.
A big splash draws more attention than a private conversation. Bringing many people together creates excitement. It gets people talking and it sets a new base line for attitudes and outlooks.
Gatherings can be an important activity to promote business. They can be small and intimate or they can be large and expansive.
Example: Jason runs an upscale salon. His regular clients keep him busy, but he wanted more. He trudged up and down the sidewalks in the town, talking to other shop owners and office managers. He engaged everyone, talking them into participating in a town wide event. Business owners bought into Jason's idea--every shop agreed to hold demonstrations, have drawings for merchandise, offer gift certificates, give out free samples, or provide children's activities, and more. Jason also arranged for sidewalk musicians who would perform for free, and craftspeople agreed to set up on the sidewalks demonstrating their crafts. The big day came and the event attracted widespread attention, bringing new people into the town where they discovered shops new to their shopping experience.
Example: Anna runs a small bakery. Her bakery attracts people with health concerns. She offers all sorts of items--gluten-free, nut-free, sugar-free, egg-free, lactose-free, and more. She met Susan the nutritionist at a MeetUp networking event. Anna and Susan put together an event of their own at Anna's bakery. She set out a big table of goodies and Susan talked about nutrition and answered questions from the attendees. The event attracted new customers for each of the women. They plan to hold a similar event every couple of months.
Events can be held by two businesses working together. Or they can involve a whole community. By partnering with others, you can attract much more attention than you can by acting alone.
Fun happenings bring people together. Informational sessions get people thinking about their problems and realizing that your business and expertise can help them. At the same time, events help you promote your particular business.
Many businesses hold events acting alone. You don't need to partner with others to hold a successful event. Think about passing out information and answering the general public's questions. Get the word out on social media to attract the attention of new customers for your products and services.
Tuesday, April 7, 2015
Handling emergencies
Free daily tips, information, advice, and ideas
to help you better manage your small business.
Bakeries, gift shops, lawyers, landscapers, salons, repair shops, therapists, restaurants, caterers and every other business can suddenly have a disaster on their hands. Every business person deserves to have thought about the possibility ahead of time--and planned for it.
Fire, flood, wind, blackouts and robbers can shut you down--whether you have a shop or an office or work at home. When the unthinkable happens, go into action with that plan you've already thought about.
Example: Phil runs a small auto repair shop. When the electric suddenly went down, he had to close operations and lost some repair jobs. There was no power for three days. Phil quickly installed a generator to supply power to part of the shop and this salvaged some jobs. He also made arrangements for a larger, more powerful generator to have on hand in case of future power outages. Some customers were understanding, others not so much--they moved on.
Example: Diane runs a small neighborhood convenience store. After she was robbed twice, she decided that it was up to her to defend herself. She bought a handgun, went through the proper licensing and training, and now keeps the firearm handy. She hasn't shot anyone yet, but she did send a knife-wielding robber on his way when she pointed the firearm at him. In the past, Diane was terrified of guns, but today she has the means to defend herself while awaiting the arrival of the police. She is much more confident--especially when she is in the store alone.
Example: Jill runs a gift shop located on Main Street in her town. The river is blocks away, but it flooded one night in November. With little warning, Jill rushed to her shop to get things off the floor as water began seeping in. The next day, she sloshed her way through several inches of muddy water to survey the damage. Everything the water touched was ruined, and it took two weeks to clean up the mess. Customers and townspeople were generous with their time helping Jill get the gift shop back in operation for at least part of the holiday shopping season. Jill had flood insurance which paid for much of the clean-up, ruined stock and fixtures. But the lost sales were gone forever, and the shoppers who came had to put up with flooring contractors and sheet rock installers.
Emergencies are not unusual in business. Power outages, flooding and storms can come with little if any warning. And robbers can show up anytime. Be prepared.
With some forethought and a little preparation, you can ride out just about any emergency. In business, you are your own back-up. How will you manage your business if you fall and break your leg?
to help you better manage your small business.
Bakeries, gift shops, lawyers, landscapers, salons, repair shops, therapists, restaurants, caterers and every other business can suddenly have a disaster on their hands. Every business person deserves to have thought about the possibility ahead of time--and planned for it.
Fire, flood, wind, blackouts and robbers can shut you down--whether you have a shop or an office or work at home. When the unthinkable happens, go into action with that plan you've already thought about.
Example: Phil runs a small auto repair shop. When the electric suddenly went down, he had to close operations and lost some repair jobs. There was no power for three days. Phil quickly installed a generator to supply power to part of the shop and this salvaged some jobs. He also made arrangements for a larger, more powerful generator to have on hand in case of future power outages. Some customers were understanding, others not so much--they moved on.
Example: Diane runs a small neighborhood convenience store. After she was robbed twice, she decided that it was up to her to defend herself. She bought a handgun, went through the proper licensing and training, and now keeps the firearm handy. She hasn't shot anyone yet, but she did send a knife-wielding robber on his way when she pointed the firearm at him. In the past, Diane was terrified of guns, but today she has the means to defend herself while awaiting the arrival of the police. She is much more confident--especially when she is in the store alone.
Example: Jill runs a gift shop located on Main Street in her town. The river is blocks away, but it flooded one night in November. With little warning, Jill rushed to her shop to get things off the floor as water began seeping in. The next day, she sloshed her way through several inches of muddy water to survey the damage. Everything the water touched was ruined, and it took two weeks to clean up the mess. Customers and townspeople were generous with their time helping Jill get the gift shop back in operation for at least part of the holiday shopping season. Jill had flood insurance which paid for much of the clean-up, ruined stock and fixtures. But the lost sales were gone forever, and the shoppers who came had to put up with flooring contractors and sheet rock installers.
Emergencies are not unusual in business. Power outages, flooding and storms can come with little if any warning. And robbers can show up anytime. Be prepared.
With some forethought and a little preparation, you can ride out just about any emergency. In business, you are your own back-up. How will you manage your business if you fall and break your leg?
Monday, April 6, 2015
Riding the waves
Free daily tips, information, advice and ideas
to help you better manage your small business.
In business, it's you. You roll with the punch. You ride out the storms.
Economic downturns, endless regulations, employees who do you a favor by just showing up, cash flow problems--it's enough to get you depressed. But depression is not an option. You keep going.
Example: Ella runs a yoga studio. She holds classes and offers private sessions. When her lease was almost up, the landlord notified Ella that the rent would be doubling. She had sixty days to solve the problem. Her alternatives were slim--pay the new rent amount, find another space, or find a compatible business partner. Ella proposed sharing her space with a massage therapist who worked from home and was building a client base. Together, they found a new space, large enough to accommodate both. By splitting the space and the rent, Ella's half was less than she had been paying before the move.
Non-competing small businesses can hold down expenses by sharing space. Artists and artisans, holistic practitioners, chiropractors, medical specialists and others frequently make use of this. Sometimes it is a formal partnership. At other times it is just an informal arrangement.
Example: Ed began his small baking operation by renting a local restaurant's licensed kitchen on days when the restaurant was closed. Here, he baked brownies, cookies and other goodies. Over time Ed built up his business by selling his bakery goods to local corporations, organizations, and other businesses. Suddenly, the restaurant owner announced that he was planning to retire and move away. Ed had six months to make other arrangements. He scrambled to find a suitable place, negotiate a lease, locate and buy used baking equipment, get it installed and inspected, and transition to the new place. Today, Ed's bakery offers a wide variety of bakery items to local restaurants, caterers and others. He built his customer base first, only then worrying about establishing a place of his own.
Finding ways to grow and expand takes creative planning. And time. When the road ahead goes dark, get busy. When storms roll across the ocean you're sailing, ride it out. Never give up. There is always another way.
Unexpected disasters and economic downturns test the metal you're made of. Sudden loss of a major client or a valuable employee means getting busy, not giving up. Plan ahead and roll with the punch.
to help you better manage your small business.
In business, it's you. You roll with the punch. You ride out the storms.
Economic downturns, endless regulations, employees who do you a favor by just showing up, cash flow problems--it's enough to get you depressed. But depression is not an option. You keep going.
Example: Ella runs a yoga studio. She holds classes and offers private sessions. When her lease was almost up, the landlord notified Ella that the rent would be doubling. She had sixty days to solve the problem. Her alternatives were slim--pay the new rent amount, find another space, or find a compatible business partner. Ella proposed sharing her space with a massage therapist who worked from home and was building a client base. Together, they found a new space, large enough to accommodate both. By splitting the space and the rent, Ella's half was less than she had been paying before the move.
Non-competing small businesses can hold down expenses by sharing space. Artists and artisans, holistic practitioners, chiropractors, medical specialists and others frequently make use of this. Sometimes it is a formal partnership. At other times it is just an informal arrangement.
Example: Ed began his small baking operation by renting a local restaurant's licensed kitchen on days when the restaurant was closed. Here, he baked brownies, cookies and other goodies. Over time Ed built up his business by selling his bakery goods to local corporations, organizations, and other businesses. Suddenly, the restaurant owner announced that he was planning to retire and move away. Ed had six months to make other arrangements. He scrambled to find a suitable place, negotiate a lease, locate and buy used baking equipment, get it installed and inspected, and transition to the new place. Today, Ed's bakery offers a wide variety of bakery items to local restaurants, caterers and others. He built his customer base first, only then worrying about establishing a place of his own.
Finding ways to grow and expand takes creative planning. And time. When the road ahead goes dark, get busy. When storms roll across the ocean you're sailing, ride it out. Never give up. There is always another way.
Unexpected disasters and economic downturns test the metal you're made of. Sudden loss of a major client or a valuable employee means getting busy, not giving up. Plan ahead and roll with the punch.
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