Free daily tips, information, advice, and ideas
to help you better manage your small business.
No matter your business, pets can help you promote. You don't have to own a pet shop. Pictures of cuddly kittens and playful puppies can attract attention and get people talking about you and your operation on social media.
Example: Ted is a chiropractor. He regularly posts on Facebook, LinkedIn, and Instagram--and all of these show pictures of his big dog. The dog is very active and the pictures show the dog running, jumping, chasing a ball, carrying a stick, or curled up by Ted's fireplace. Ted is getting across his message showing an active, pain-free life style. He doesn't talk about bones and muscles--that information is on his website for people who want more chiropractic information. The dog is the message. It is upfront, attention-getting, and draws in the viewer.
Example: Jan runs a consignment shop. Her big tabby cat really owns the place. He curls up in his basket on the counter, or in the sunny front window, eyeing all comers and catching cat naps. Jan snaps pictures of him--sleeping or playful. He is shown inspecting all the new items arriving at the shop. Jan posts the pictures on Facebook and other social media, generating continuing interest and referrals. Jan's regulars have developed an attachment to the cat and they refer others to the Facebook pages--bringing more people to the shop.
Example: Tom runs a bar. To punch up interest, he installed two pool tables and a dart board. He brought in craft beers. But the thing that really got the place hopping was something else. Tom cleared off one full wall and had a sign painter emblazon the words "Man's Best Friend" across the top. Underneath, he hung a reproduction of a famous painting of dogs playing cards. Then he invited everyone to post pictures of their dogs all over the rest of the wall. Soon, dozens of pictures of dogs and puppies appeared. Tom takes pictures of the wall and posts on social media. The bar is now affectionately known as Tom's Dog House.
Pets can be used in many ways to promote a business. Put your own creativity to work. Today's social media offers many opportunities that were not available in bygone days.
In the past, promoting meant reaching out with ads. Today's social media is more direct. The key is picture-taking. Everyone today can take pictures and post them easily, inexpensively, and continuously.
Get yourself in the picture-taking groove and don't look back.
Monday, May 4, 2015
Friday, May 1, 2015
Social media tips
Free daily tips, information, advice and ideas
to help you better manage your small business.
Social media has captured the attention of consumers. We are living in the age of Google, Facebook, Twitter, Amazon, Apple, LinkedIn, Instagram--the list goes on.
It is possible for small businesses to reach out far and wide. And it's not just a wider area. Today's social media brings depth to the marketplace.
Example: You are a chiropractor. You post a picture on Facebook showing a close-up of your hands working on someone's back. Add two short sentences and your message gets passed around to many people.
Example: You are a landscaper. You post a picture on LInkedIn showing springtime flowers popping up in someone's yard. Add a "come on" statement, and calls arrive from new prospective clients.
Example: You are an attorney. You post a quick Twitter announcement of an upcoming free seminar you're giving on elder care and social security. People re-tweet your message and reservations come in from others who want to attend.
Example: You run a restaurant. You get an app so your customers can check out your menu specials for the day, make a reservation, place an order while they are on their way to your restaurant. When they arrive, you serve their order immediately.
Example: You are a photographer. You publish samples of your work as a short e-book on Amazon Kindle. You put up tease sample photos on Facebook, LinkedIn and Pinterest--pointing viewers to your e-book. The word spreads.
Example: You are a hair stylist. You post pictures on social media showing the latest stylings done at your shop. You mention that appointments can be made through your website and the bill can be paid with the client's Apple phone.
Placing ads in newspapers and specialty publications can still be very effective. Social media represents additional opportunities. Get that camera clicking and take pictures that can be posted. Keep all write-ups short--a phrase, a short sentence does the trick.
If you don't know how to use social media, go to the sites for Facebook, LinkedIn, and others. These people will gladly lead you through the process--it can take less than 5 minutes for you to be up and running. Then get in the habit of posting frequently. Once you get the hang of it, your free advertising can be accomplished literally on the run.
Social media is a godsend for small business. You can reach out to the world with the click of a button. Your elderly customers might still appreciate a post card. But tomorrow's world belongs to social media.
to help you better manage your small business.
Social media has captured the attention of consumers. We are living in the age of Google, Facebook, Twitter, Amazon, Apple, LinkedIn, Instagram--the list goes on.
It is possible for small businesses to reach out far and wide. And it's not just a wider area. Today's social media brings depth to the marketplace.
Example: You are a chiropractor. You post a picture on Facebook showing a close-up of your hands working on someone's back. Add two short sentences and your message gets passed around to many people.
Example: You are a landscaper. You post a picture on LInkedIn showing springtime flowers popping up in someone's yard. Add a "come on" statement, and calls arrive from new prospective clients.
Example: You are an attorney. You post a quick Twitter announcement of an upcoming free seminar you're giving on elder care and social security. People re-tweet your message and reservations come in from others who want to attend.
Example: You run a restaurant. You get an app so your customers can check out your menu specials for the day, make a reservation, place an order while they are on their way to your restaurant. When they arrive, you serve their order immediately.
Example: You are a photographer. You publish samples of your work as a short e-book on Amazon Kindle. You put up tease sample photos on Facebook, LinkedIn and Pinterest--pointing viewers to your e-book. The word spreads.
Example: You are a hair stylist. You post pictures on social media showing the latest stylings done at your shop. You mention that appointments can be made through your website and the bill can be paid with the client's Apple phone.
Placing ads in newspapers and specialty publications can still be very effective. Social media represents additional opportunities. Get that camera clicking and take pictures that can be posted. Keep all write-ups short--a phrase, a short sentence does the trick.
If you don't know how to use social media, go to the sites for Facebook, LinkedIn, and others. These people will gladly lead you through the process--it can take less than 5 minutes for you to be up and running. Then get in the habit of posting frequently. Once you get the hang of it, your free advertising can be accomplished literally on the run.
Social media is a godsend for small business. You can reach out to the world with the click of a button. Your elderly customers might still appreciate a post card. But tomorrow's world belongs to social media.
Thursday, April 30, 2015
Marketing tips
Free daily tips, information, advice and ideas
to help you better manage your small business.
Markets continually change. Keeping up with what's going on in the marketplace is part of running your small business. In today's fast-paced world, it ain't easy.
The key is simple. Always give the market what it wants. Customers and clients give you the clues. It's up to you to find ways to be successful.
Example: Alex is a struggling artist. His large abstract paintings have attracted attention, and he has made sales. But buyers are few and far between. He is confident that in the long run he will be successful. The problem for Alex was how to get through the time it will take until he sells enough of his work to support his family. The answer came unexpectedly at a show he was attending. He overheard several people saying that there was nothing inexpensive enough to be considered as gifts for friends. It was a clue to a market segment Alex had not considered. He began turning out small paintings, quickly done, framed, and at reasonable prices. These began selling on his website, at shows, and to gift shops. Now he doesn't worry about income while he concentrates on his larger, more expensive, abstracts--still his long-term goal.
Example: Nicole is a Pilates expert. She has her own studio where she sees clients. To exploit people's growing interest in fitness and wellness, she got her instructor's certification. She now teaches Pilates to others interested in the field while still seeing private clients. It is an extension of what she was already doing, but the teaching sessions bring in additional income and have resulted in referrals of more private clients.
Example: Mary inherited her mother's small consignment shop. It was long-established and filled with vintage collectibles, games and toys, jewelry and small antiques--no clothing. Mary expanded the shop's market reach by using eBay and Etsy to sell long distance. With an eye to the marketplace, Mary turned a local destination consignment shop into a healthier business. Consignments still come from a wide, but local, area. But sales are to customers far and near. The marketplace Mary now serves is very different from her mother's pre-Internet days.
A big part of managing your small business is staying on top of the ever-changing marketplace. The market is not stagnant. Sometimes, the change is in what people want. Other times, it's technology that is changing the marketplace.
Your clients and customers move with the times. To keep up, to stay on top of it, to get ahead, you must be willing to take a step beyond today.
Your clients and customers tell you where the market is headed. They usually do not say it outright. You must read between the lines. Watch. Listen. The clues are there.
to help you better manage your small business.
Markets continually change. Keeping up with what's going on in the marketplace is part of running your small business. In today's fast-paced world, it ain't easy.
The key is simple. Always give the market what it wants. Customers and clients give you the clues. It's up to you to find ways to be successful.
Example: Alex is a struggling artist. His large abstract paintings have attracted attention, and he has made sales. But buyers are few and far between. He is confident that in the long run he will be successful. The problem for Alex was how to get through the time it will take until he sells enough of his work to support his family. The answer came unexpectedly at a show he was attending. He overheard several people saying that there was nothing inexpensive enough to be considered as gifts for friends. It was a clue to a market segment Alex had not considered. He began turning out small paintings, quickly done, framed, and at reasonable prices. These began selling on his website, at shows, and to gift shops. Now he doesn't worry about income while he concentrates on his larger, more expensive, abstracts--still his long-term goal.
Example: Nicole is a Pilates expert. She has her own studio where she sees clients. To exploit people's growing interest in fitness and wellness, she got her instructor's certification. She now teaches Pilates to others interested in the field while still seeing private clients. It is an extension of what she was already doing, but the teaching sessions bring in additional income and have resulted in referrals of more private clients.
Example: Mary inherited her mother's small consignment shop. It was long-established and filled with vintage collectibles, games and toys, jewelry and small antiques--no clothing. Mary expanded the shop's market reach by using eBay and Etsy to sell long distance. With an eye to the marketplace, Mary turned a local destination consignment shop into a healthier business. Consignments still come from a wide, but local, area. But sales are to customers far and near. The marketplace Mary now serves is very different from her mother's pre-Internet days.
A big part of managing your small business is staying on top of the ever-changing marketplace. The market is not stagnant. Sometimes, the change is in what people want. Other times, it's technology that is changing the marketplace.
Your clients and customers move with the times. To keep up, to stay on top of it, to get ahead, you must be willing to take a step beyond today.
Your clients and customers tell you where the market is headed. They usually do not say it outright. You must read between the lines. Watch. Listen. The clues are there.
Wednesday, April 29, 2015
Disaster planning
Free daily tips, information, advice and ideas
to help you better manage your small business.
Disasters happen. Fires, floods, burglaries can strike at any time. A key employee can fall down stairs at home and be laid up for weeks.
Running your own small business means that you are your own back-up. It will pay off to think about disasters ahead of time. Before the electric goes out for a week, how will your business survive? If your landlord serves you notice to vacate the building, where will you go? If Facebook changes the rules, how will you promote?
Anything can happen. Big companies have deep pockets and other resources to ride out disasters. But your small business depends on your ingenuity in facing the unthinkable.
Example: Jim runs a small computing services firm. The main component of his business is to continually monitor the operating systems of larger firms, assuring them of uninterrupted and problem-free service. He is set up to electronically repair computing problems remotely. He has three employees. One morning, the husband of a key employee called Jim with bad news. The wife had fallen and broken her back--she would not be coming to work for several weeks. Now, with only two employees, Jim was left with a major problem on his hands. He had to scramble to cover the work she would no longer be doing. Her technical knowledge meant that Jim had to substitute himself during her absence. It was a valuable lesson--when she came back to work, Jim set about cross-training his small staff so that each of them could jump in on a moment's notice.
Example: Mary is an expert in massage. Over several years, Mary built up her client base and went looking for bigger space. She was careful not to consider ground-floor space because the river sometimes flooded the Main Street. She didn't want stairs involved because some of her clients could not manage stairs. She found suitable space accessible by a ramp in a building with offices that were several feet above ground level. Mary's careful planning paid off. When the river suddenly flooded, Mary's offices were high and dry.
Example: Ella runs a small graphic arts firm. The business was going well when suddenly the landlord informed her that she had 60 days to vacate the space. The lease gave the landlord that option. It also provided that the landlord would buy out the remaining months of the lease--a clause Ella had insisted on when she signed the original lease. Since there were two years remaining in the lease, Ella received a sizable cash payment from the landlord. She used the money to move, buy new equipment, and add an employee. The disruption in on-going work was significant, but Ella turned disaster into a positive growth option.
Thinking ahead and planning for the unthinkable can help you sleep better at night. Now, what will you do when the electric goes down for a week?
Fire and flood, even key employees, can be covered by insurance. But the best insurance will be in your planning ahead for any eventuality.
to help you better manage your small business.
Disasters happen. Fires, floods, burglaries can strike at any time. A key employee can fall down stairs at home and be laid up for weeks.
Running your own small business means that you are your own back-up. It will pay off to think about disasters ahead of time. Before the electric goes out for a week, how will your business survive? If your landlord serves you notice to vacate the building, where will you go? If Facebook changes the rules, how will you promote?
Anything can happen. Big companies have deep pockets and other resources to ride out disasters. But your small business depends on your ingenuity in facing the unthinkable.
Example: Jim runs a small computing services firm. The main component of his business is to continually monitor the operating systems of larger firms, assuring them of uninterrupted and problem-free service. He is set up to electronically repair computing problems remotely. He has three employees. One morning, the husband of a key employee called Jim with bad news. The wife had fallen and broken her back--she would not be coming to work for several weeks. Now, with only two employees, Jim was left with a major problem on his hands. He had to scramble to cover the work she would no longer be doing. Her technical knowledge meant that Jim had to substitute himself during her absence. It was a valuable lesson--when she came back to work, Jim set about cross-training his small staff so that each of them could jump in on a moment's notice.
Example: Mary is an expert in massage. Over several years, Mary built up her client base and went looking for bigger space. She was careful not to consider ground-floor space because the river sometimes flooded the Main Street. She didn't want stairs involved because some of her clients could not manage stairs. She found suitable space accessible by a ramp in a building with offices that were several feet above ground level. Mary's careful planning paid off. When the river suddenly flooded, Mary's offices were high and dry.
Example: Ella runs a small graphic arts firm. The business was going well when suddenly the landlord informed her that she had 60 days to vacate the space. The lease gave the landlord that option. It also provided that the landlord would buy out the remaining months of the lease--a clause Ella had insisted on when she signed the original lease. Since there were two years remaining in the lease, Ella received a sizable cash payment from the landlord. She used the money to move, buy new equipment, and add an employee. The disruption in on-going work was significant, but Ella turned disaster into a positive growth option.
Thinking ahead and planning for the unthinkable can help you sleep better at night. Now, what will you do when the electric goes down for a week?
Fire and flood, even key employees, can be covered by insurance. But the best insurance will be in your planning ahead for any eventuality.
Tuesday, April 28, 2015
Promote, promote
Free daily tips, information, advice and ideas
to help you better manage your small business.
Small business should never be static. Either you're growing or you're in danger of falling behind. Treading water is not a good option.
The business environment, like the weather, is always changing. What worked last year might not work as well this year. Keep your ear to the ground and try new things.
Example: Dale is trained and certified in acupuncture. He set up a place and has a growing list of clients. To grow more, he set aside a large room where several people can lie down, relax in a communal setting. These are short, inexpensive, stress-reducing sessions. It's quiet and no electronics of any kind are allowed. Individuals pay $20 for a short session. To attract more attention, Dale offers discounts to those who bring along a friend. He posts pictures on Facebook and short explanations on LinkedIn. Many of his clients are corporate types looking to relieve the stresses of their work. They spread the word and more referrals come in. Best of all, it's working to bring in more private clients with problems that require longer sessions.
Example: Cheryl runs a fitness center. She tried joining several networking groups with limited results. She knew she could do better. She went on MeetUp.com and formed her own networking group for people looking to lose weight, get in better shape, and deal with post-surgery problems. Her monthly sessions have become a popular community gathering. Regulars look forward to interacting with others, and they bring new attendees. Cheryl spreads the word on Facebook, LinkedIn and MeetUp. The result has been a great deal of publicity for her fitness center, and she has signed up additional private clients.
Example: Vicky runs a small neighborhood restaurant. She serves breakfast, lunch and dinner. She knows that her reputation is spreading because new people are showing up. To speed up the process, Vicky had coupons printed offering one dollar off any meal. These are printed to suggest the size and color of real money. (You cannot print a dollar bill unless you want a visit from the Treasury people.) Vicky hands out these coupons every time someone pays their bill, encouraging everyone to take a couple extra to hand out to friends. Her regulars gladly promote Vicky's restaurant. One dollar coupons work much better than percentage off coupons.
Inexpensive promotional ideas are everywhere. Try something and build on it. Notice that these examples cost the business owner little to put in place. But the results are real.
Promoting your business is an on-going activity. And promoting can take many forms. I frequently write about promotions that any small business can use--see previous write-ups.
to help you better manage your small business.
Small business should never be static. Either you're growing or you're in danger of falling behind. Treading water is not a good option.
The business environment, like the weather, is always changing. What worked last year might not work as well this year. Keep your ear to the ground and try new things.
Example: Dale is trained and certified in acupuncture. He set up a place and has a growing list of clients. To grow more, he set aside a large room where several people can lie down, relax in a communal setting. These are short, inexpensive, stress-reducing sessions. It's quiet and no electronics of any kind are allowed. Individuals pay $20 for a short session. To attract more attention, Dale offers discounts to those who bring along a friend. He posts pictures on Facebook and short explanations on LinkedIn. Many of his clients are corporate types looking to relieve the stresses of their work. They spread the word and more referrals come in. Best of all, it's working to bring in more private clients with problems that require longer sessions.
Example: Cheryl runs a fitness center. She tried joining several networking groups with limited results. She knew she could do better. She went on MeetUp.com and formed her own networking group for people looking to lose weight, get in better shape, and deal with post-surgery problems. Her monthly sessions have become a popular community gathering. Regulars look forward to interacting with others, and they bring new attendees. Cheryl spreads the word on Facebook, LinkedIn and MeetUp. The result has been a great deal of publicity for her fitness center, and she has signed up additional private clients.
Example: Vicky runs a small neighborhood restaurant. She serves breakfast, lunch and dinner. She knows that her reputation is spreading because new people are showing up. To speed up the process, Vicky had coupons printed offering one dollar off any meal. These are printed to suggest the size and color of real money. (You cannot print a dollar bill unless you want a visit from the Treasury people.) Vicky hands out these coupons every time someone pays their bill, encouraging everyone to take a couple extra to hand out to friends. Her regulars gladly promote Vicky's restaurant. One dollar coupons work much better than percentage off coupons.
Inexpensive promotional ideas are everywhere. Try something and build on it. Notice that these examples cost the business owner little to put in place. But the results are real.
Promoting your business is an on-going activity. And promoting can take many forms. I frequently write about promotions that any small business can use--see previous write-ups.
Starting up
Free daily tips, information, advice and ideas
to help you better manage your small business.
Hobbies and interests can point to starting up, or expanding, a small business. It's a matter of figuring out who you are and then targeting the marketplace.
Example: As he was growing up, Bill worked in his father's auto repair shop. When his father retired, Bill took over the shop. But Bill's interests extended beyond replacing alternators and exhaust pipes. He began taking on collision repair jobs, establishing a body and paint shop on the grounds next to the repair shop. This got Bill into a much bigger market. Gradually, he grew even more by taking on restoration jobs--returning an aging muscle car built in the 1970s to its former glory. Today, Bill still handles repairs and collision work, but muscle car restorations are the main thrust of the business. This market extends far and wide--well beyond the area where his business is located.
Example: Dawn loved jigsaw puzzles and board games, and she hated her corporate job. She had collected hundreds of these over the years, and her husband encouraged her to open a small shop. They found a place on a side street in an up-and-coming town and rented it. He built shelves and the two of them painted the place. They found a large farm table, fitted it with a glass top, and surrounded it with chairs from thrift shops. Dawn searched yard sales for more jigsaw puzzles, board games, and video games. Soon the shop was filled with things that attracted customers. Two nights each week, Dawn convenes a community event around the big table--generating interest and bringing in referrals. She generates more interest using social media and by selling on eBay. It's taken some time, but Dawn now equals her paycheck at her former corporate job--and she is happy running her own operation.
Example: Bob was a CPA working in the tax department of a large company. He often wondered how he came to be stuck in his position. His interests were in gardening--in his spare time, he raised many vegetables in the big yard behind the family's home. He decided to make a change--with a transitioning time. He built raised beds in the yard, covering them with plastic, and planting several types of lettuce. When the lettuce was ready, Bob gathered several bundles and went calling on local restaurants to see if there was interest in farm-fresh, organically-raised greens. What he found surprised him--every bundle was sold in an hour or so. Bob came home with more orders in hand. He is now in the process of expanding his raised beds to cover the back yard, and he is looking forward to the day when he can do what he loves and leave the company job behind.
Many people in corporate America have exchanged their hearts and souls for a regular paycheck doing something they don't like to do. Many are also discovering the joys of being their own boss by setting up a small business.
Making the transition is not easy, but it is possible. Working hard in your own business is much more satisfying than working hard for someone else.
Do a personal inventory. What interest of yours can form the basis for a small business? Remember, if you're interested, others are as well--and they are your target market.
Keep in mind that several giants in computing technology never finished college and they started out tinkering in their garage. Your interests might not revolutionize technology, but a small business can support you and your family, and it might grow into something larger.
to help you better manage your small business.
Hobbies and interests can point to starting up, or expanding, a small business. It's a matter of figuring out who you are and then targeting the marketplace.
Example: As he was growing up, Bill worked in his father's auto repair shop. When his father retired, Bill took over the shop. But Bill's interests extended beyond replacing alternators and exhaust pipes. He began taking on collision repair jobs, establishing a body and paint shop on the grounds next to the repair shop. This got Bill into a much bigger market. Gradually, he grew even more by taking on restoration jobs--returning an aging muscle car built in the 1970s to its former glory. Today, Bill still handles repairs and collision work, but muscle car restorations are the main thrust of the business. This market extends far and wide--well beyond the area where his business is located.
Example: Dawn loved jigsaw puzzles and board games, and she hated her corporate job. She had collected hundreds of these over the years, and her husband encouraged her to open a small shop. They found a place on a side street in an up-and-coming town and rented it. He built shelves and the two of them painted the place. They found a large farm table, fitted it with a glass top, and surrounded it with chairs from thrift shops. Dawn searched yard sales for more jigsaw puzzles, board games, and video games. Soon the shop was filled with things that attracted customers. Two nights each week, Dawn convenes a community event around the big table--generating interest and bringing in referrals. She generates more interest using social media and by selling on eBay. It's taken some time, but Dawn now equals her paycheck at her former corporate job--and she is happy running her own operation.
Example: Bob was a CPA working in the tax department of a large company. He often wondered how he came to be stuck in his position. His interests were in gardening--in his spare time, he raised many vegetables in the big yard behind the family's home. He decided to make a change--with a transitioning time. He built raised beds in the yard, covering them with plastic, and planting several types of lettuce. When the lettuce was ready, Bob gathered several bundles and went calling on local restaurants to see if there was interest in farm-fresh, organically-raised greens. What he found surprised him--every bundle was sold in an hour or so. Bob came home with more orders in hand. He is now in the process of expanding his raised beds to cover the back yard, and he is looking forward to the day when he can do what he loves and leave the company job behind.
Many people in corporate America have exchanged their hearts and souls for a regular paycheck doing something they don't like to do. Many are also discovering the joys of being their own boss by setting up a small business.
Making the transition is not easy, but it is possible. Working hard in your own business is much more satisfying than working hard for someone else.
Do a personal inventory. What interest of yours can form the basis for a small business? Remember, if you're interested, others are as well--and they are your target market.
Keep in mind that several giants in computing technology never finished college and they started out tinkering in their garage. Your interests might not revolutionize technology, but a small business can support you and your family, and it might grow into something larger.
Friday, April 24, 2015
Paths to growth
Free daily tips, information, advice and ideas
to help you better manage your small business.
There are two ways to grow a small business. One is slow, the other is quick.
Growing slowly means you can expand at the rate your business generates excess cash. You can plow the money back into the business--buying equipment, hiring an employee, or renting a bigger space.
Growing quickly means you might need to borrow the money to grow on. Or find another way to get where you want to go.
Example: Bill is a massage therapist. He got his training, license, and certification and began to build a client base. He worked alone, and that suited him. He networked and offered free demonstrations at events to attract more clients. Soon, he was giving massages full time. His was a single operator business, limited by his own efforts. To grow, he had to increase his prices--finding clients willing to pay more.
Example: Ed is also a massage therapist--trained, licensed and certified. He wanted to get established and then grow into a larger operation. His long-term plan was to operate a wellness center offering massage and other holistic therapies to a wider client base. To this end, Ed began bringing in other single-operator therapists--nutritionists, yoga specialists, hypnotists specializing in pain management and eating habits. He rented a larger space and brought the specialists with him. Today, Ed is operating a growing wellness center--with plans to purchase the building.
Example: Judy, too, is a massage therapist. She also began by working alone, but she had ideas to expand. Using her client base developed over several years, Judy began contacting other wellness specialists, gradually putting together a group of single operators on call for their particular specialty. This resulted in an organization of certified experts in various wellness fields. Then she provided these services to medical doctors, wellness centers, spas, corporate health centers, and others. With only a website, social media and a home office, Judy now manages a growing group of specialists--on call to provide their services. She has grown with very little money outlays.
Working alone in your small business, you are ultimately limited by what you alone can do. Time puts the damper on expansion. You can alleviate this to some extent by targeting high income clients and charging more. But, ultimately, that, too, will limit your growth and income.
Pathways to growth, however, are open to you. And growth does not necessarily mean an input of funds from a loan. Patience, ingenuity and creativity can help you find your own road ahead.
To find pathways to growing your own small business, consider all the alternatives. It's a matter of deciding where you want to be and then working out the map to get you there.
to help you better manage your small business.
There are two ways to grow a small business. One is slow, the other is quick.
Growing slowly means you can expand at the rate your business generates excess cash. You can plow the money back into the business--buying equipment, hiring an employee, or renting a bigger space.
Growing quickly means you might need to borrow the money to grow on. Or find another way to get where you want to go.
Example: Bill is a massage therapist. He got his training, license, and certification and began to build a client base. He worked alone, and that suited him. He networked and offered free demonstrations at events to attract more clients. Soon, he was giving massages full time. His was a single operator business, limited by his own efforts. To grow, he had to increase his prices--finding clients willing to pay more.
Example: Ed is also a massage therapist--trained, licensed and certified. He wanted to get established and then grow into a larger operation. His long-term plan was to operate a wellness center offering massage and other holistic therapies to a wider client base. To this end, Ed began bringing in other single-operator therapists--nutritionists, yoga specialists, hypnotists specializing in pain management and eating habits. He rented a larger space and brought the specialists with him. Today, Ed is operating a growing wellness center--with plans to purchase the building.
Example: Judy, too, is a massage therapist. She also began by working alone, but she had ideas to expand. Using her client base developed over several years, Judy began contacting other wellness specialists, gradually putting together a group of single operators on call for their particular specialty. This resulted in an organization of certified experts in various wellness fields. Then she provided these services to medical doctors, wellness centers, spas, corporate health centers, and others. With only a website, social media and a home office, Judy now manages a growing group of specialists--on call to provide their services. She has grown with very little money outlays.
Working alone in your small business, you are ultimately limited by what you alone can do. Time puts the damper on expansion. You can alleviate this to some extent by targeting high income clients and charging more. But, ultimately, that, too, will limit your growth and income.
Pathways to growth, however, are open to you. And growth does not necessarily mean an input of funds from a loan. Patience, ingenuity and creativity can help you find your own road ahead.
To find pathways to growing your own small business, consider all the alternatives. It's a matter of deciding where you want to be and then working out the map to get you there.
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