Free daily tips, information, advice and ideas
to help you better manage your small business
Starting a business in the clothing aftermarkets can be relatively easy. Used clothing is readily available--think yard sales, flea markets, consignment and thrift shops.
Sweaters, tee shirts, denim jeans, women's and men's outfits and more are thrown away by everyone, all the time. There is an endless supply for these materials--and they can form the basis of a business.
Example: Jose is very creative and has a longtime interest in rugs and small carpets. He regularly visits consignment and thrift shops to search out and purchase materials. The expensive rugs he makes from all sorts of unusual and colorful materials, some cut into strips, others made into squares. Sometimes he dyes the materials. Then he weaves unusual rug patterns and sells to high-end gift shops and at shows he attends. Materials cost him next to nothing, and he prices to the market--some of his creations sell for hundreds of dollars.
Example: Eleanor began buying denim jeans at yard sales, flea markets and consignment shops. She accumulated quite an inventory. Her plan was to use the cleaned and cut up denim materials to make fashionable handbags, shopping bags, and caps for men, women and children. Some she embroidered. She began selling her creations online, promoting through social media. Pictures of her creations sold well, and she is looking to expand her small sewing staff to handle increasing sales--to individuals as well as shops.
Example: Irene uses sweater materials to make unusual hats and scarves for women. She uses tee shirts to refashion into leggings. These have provided additional sales lines for her small shop featuring fiber arts. Promoting on Facebook has extended her market reach.
Example: Pepe is an artist. He is always on the lookout for used men's belts and other leather materials. He finds a continuing supply at thrift shops, consignment shops, and flea markets. Pepe is specializing in creating hanging art pieces--some are framed in shadow boxes, others stand or hang as sculptures. But all are made from found leather materials--cut, twisted, refashioned. Pepe is making quite a reputation for his unusual art works. He sells at shows and online--using social media to attract attention to his website.
Using the clothing aftermarket as a supplier can form a good basis for a business. There is no end of materials--or what you can do with them.
Starting a business, or expanding into a new line of business, can be especially easy using the clothing aftermarkets. Use your creativity.
Tuesday, November 10, 2015
Monday, November 9, 2015
Turning loose yesterday
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to help you better manage your small business
Your products and services can become dated. As a business owner, you must recognize changing markets.
Turning loose yesterday's products and services can be traumatic. But, if what you sold yesterday isn't selling today, what about tomorrow?
Example: Ed used his CPA training to help clients with tax filings. For years, his business grew by adding new referrals. His clients were very small businesses--owner operated or with few employees. Then he began noticing a slow-down in calls from new clients. Ed recognized that more and more small business owners were signing up with tax firms offering online tax preparation. He could not compete with these. So, Ed began targeting the next level of small businesses--those with 25-50 employees. This market had more complicated tax liabilities. Owners appreciated--and paid for--his personal attention and advice.
Example: In the past years when videos ruled the entertainment world, Gene established a local video shop. Business was good as people showed up to rent videos. But fast-moving technology soon overtook the market for people who came to Gene's video shop. When he realized that the future held fewer prospects, he sold the shop.
Example: Jack runs a machine shop. His main clients are in the aerospace, automotive, and health care fields. When 3D printing burst upon the scene, Jack saw a different future for his business. He installed one of the new 3D machines and hired a programmer. From this modest expansion, Jack has expanded into 3D printing full speed ahead. Today, more and more of his market is satisfied with 3D printed products. Technological changes are revolutionizing Jack's industry.
Example: Anna runs a cafe. Her breakfasts and lunches attracted lots of attention with her traditional hearty fare. When customers began asking about locally-sourced eggs and breads, Anna took note. Her market was changing. Today, she serves meals made with organically-produced inputs, gluten-free breads, soups made the same day, along with coffee freshly roasted at a local supplier. Her cafe is attracting more and more people--especially since she began promoting her place on social media.
Markets no longer exist for buggy whips. Get rid of them. Move on. Turn loose your yesterdays as the market moves ahead.
to help you better manage your small business
Your products and services can become dated. As a business owner, you must recognize changing markets.
Turning loose yesterday's products and services can be traumatic. But, if what you sold yesterday isn't selling today, what about tomorrow?
Example: Ed used his CPA training to help clients with tax filings. For years, his business grew by adding new referrals. His clients were very small businesses--owner operated or with few employees. Then he began noticing a slow-down in calls from new clients. Ed recognized that more and more small business owners were signing up with tax firms offering online tax preparation. He could not compete with these. So, Ed began targeting the next level of small businesses--those with 25-50 employees. This market had more complicated tax liabilities. Owners appreciated--and paid for--his personal attention and advice.
Example: In the past years when videos ruled the entertainment world, Gene established a local video shop. Business was good as people showed up to rent videos. But fast-moving technology soon overtook the market for people who came to Gene's video shop. When he realized that the future held fewer prospects, he sold the shop.
Example: Jack runs a machine shop. His main clients are in the aerospace, automotive, and health care fields. When 3D printing burst upon the scene, Jack saw a different future for his business. He installed one of the new 3D machines and hired a programmer. From this modest expansion, Jack has expanded into 3D printing full speed ahead. Today, more and more of his market is satisfied with 3D printed products. Technological changes are revolutionizing Jack's industry.
Example: Anna runs a cafe. Her breakfasts and lunches attracted lots of attention with her traditional hearty fare. When customers began asking about locally-sourced eggs and breads, Anna took note. Her market was changing. Today, she serves meals made with organically-produced inputs, gluten-free breads, soups made the same day, along with coffee freshly roasted at a local supplier. Her cafe is attracting more and more people--especially since she began promoting her place on social media.
Markets no longer exist for buggy whips. Get rid of them. Move on. Turn loose your yesterdays as the market moves ahead.
Friday, November 6, 2015
Facebooking small business
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to help you better manage your small business
Facebook is a fantastic promotional tool for small business. It is almost effortless from the standpoint of your time. And it can be free.
Example: Franklin is an attorney. He regularly volunteers to be a speaker at public events--club meetings, senior centers, organizational gatherings, etc. He talks about elder care concerns, what to do with traffic tickets, business organization, wills, and he answers all questions from the audience. He gets an agreement to take and use pictures of the meeting on social media. The pictures go on Facebook, looking like a news item. People see themselves, pass the pictures around, and subsequently, calls come in to Franklin's office for an appointment.
Example: Leonetta is a therapist specializing in Reiki. Her client base is growing, and then she got certified for Reiki for pets. She regularly snaps pictures of dogs and puppies and posts them on her Facebook page. These pictures are exchanged among groups of friends--and calls come in. To speed up appointments, Leonetta posts Facebook pictures almost daily. To slow it down, she posts only once a week.
Example: Sara runs a gift shop. She snaps a picture of every new item--giving her a record of her inventory. Many items in her shop are from artists and artisans who produce one-of-a-kind pieces--jewelry, ceramics, photographs, paintings and the like. She selects from the pictures those that she knows will attract attention and posts them on Facebook. It stirs interest and brings new people to her shop.
Example: Robert uses Facebook to promote his garden center. He posts close-ups of blooming plants to attract attention. If he captures a butterfly, so much the better. In autumn, he posts pictures of asters and chrysanthemums, along with cornstalks and pumpkins. In spring, it's daffodils and tulips. He avoids people's faces but shows a hand now and then. Close-ups of flowers attract viewers, and they pass the pictures to their friends.
Facebook can work in any business. The trick is to keep on snappin' and postin' as often as you need to. Nothing triggers interest more.
Don't know how to use Facebook? Ask any teenager. Go to the Facebook site and follow the simple directions.
to help you better manage your small business
Facebook is a fantastic promotional tool for small business. It is almost effortless from the standpoint of your time. And it can be free.
Example: Franklin is an attorney. He regularly volunteers to be a speaker at public events--club meetings, senior centers, organizational gatherings, etc. He talks about elder care concerns, what to do with traffic tickets, business organization, wills, and he answers all questions from the audience. He gets an agreement to take and use pictures of the meeting on social media. The pictures go on Facebook, looking like a news item. People see themselves, pass the pictures around, and subsequently, calls come in to Franklin's office for an appointment.
Example: Leonetta is a therapist specializing in Reiki. Her client base is growing, and then she got certified for Reiki for pets. She regularly snaps pictures of dogs and puppies and posts them on her Facebook page. These pictures are exchanged among groups of friends--and calls come in. To speed up appointments, Leonetta posts Facebook pictures almost daily. To slow it down, she posts only once a week.
Example: Sara runs a gift shop. She snaps a picture of every new item--giving her a record of her inventory. Many items in her shop are from artists and artisans who produce one-of-a-kind pieces--jewelry, ceramics, photographs, paintings and the like. She selects from the pictures those that she knows will attract attention and posts them on Facebook. It stirs interest and brings new people to her shop.
Example: Robert uses Facebook to promote his garden center. He posts close-ups of blooming plants to attract attention. If he captures a butterfly, so much the better. In autumn, he posts pictures of asters and chrysanthemums, along with cornstalks and pumpkins. In spring, it's daffodils and tulips. He avoids people's faces but shows a hand now and then. Close-ups of flowers attract viewers, and they pass the pictures to their friends.
Facebook can work in any business. The trick is to keep on snappin' and postin' as often as you need to. Nothing triggers interest more.
Don't know how to use Facebook? Ask any teenager. Go to the Facebook site and follow the simple directions.
Thursday, November 5, 2015
Expanding and growing
Free daily tips, information, advice and ideas
to help you better manage your small business
Expanding and growing your business can be intertwined. Expanding means taking the small steps that can lead to real growth.
Expanding means taking on a related market. This can lead to real growth for your business. The way to approach an expansion is to research the market, carefully plan out the steps you'll take, and then take the plunge.
Example: Marcia is a chiropractor. She decided some time ago that she wanted to head in the direction of becoming a wellness center. She didn't know how many wellness experts she would be able to attract, and she didn't know how much space would be required. So she spent several months talking with holistic providers, looking at buildings, investigating the market, and doing the numbers--projecting forward several scenarios and arriving at a business plan that made sense. Today, Marcia's wellness center attracts clients looking for all sorts of treatments, including Reiki, massage, acupuncture, yoga sessions for individuals, nutritional guidance, aromatherapy, and other popular wellness interests. She provides space for the experts to meet and treat their clients--transients can simply pay her a fee, or longer term rentals can be made. There is a small room for information displays, including video. The center has attracted lots of attention in the community and beyond. Marcia still sees her chiropractic patients.
Example: Bill runs a landscaping service. He cuts grass, trims shrubbery, helps homeowners put plants in their yards. He parks his truck and trailer behind his own house, and his garage is full of equipment and materials. Inside, he turned part of a bedroom into a small office setup. To expand, his wife reminded him, he needed to get the business out of the house, out of the garage, and out of the yard. To do this, Bill found a small garden center owned by an elderly man who was willing to enter into a lease-purchase agreement, selling the garden center to Bill. After carefully assessing the situation and the numbers, Bill jumped at the chance to expand and grow at the same time. Today, he attracts many more customers for an expanded list of services. He has added another truck and a crew to serve the needs of the bigger business.
Expanding your business means selecting additional markets to serve. When you serve more markets, you are growing the business.
to help you better manage your small business
Expanding and growing your business can be intertwined. Expanding means taking the small steps that can lead to real growth.
Expanding means taking on a related market. This can lead to real growth for your business. The way to approach an expansion is to research the market, carefully plan out the steps you'll take, and then take the plunge.
Example: Marcia is a chiropractor. She decided some time ago that she wanted to head in the direction of becoming a wellness center. She didn't know how many wellness experts she would be able to attract, and she didn't know how much space would be required. So she spent several months talking with holistic providers, looking at buildings, investigating the market, and doing the numbers--projecting forward several scenarios and arriving at a business plan that made sense. Today, Marcia's wellness center attracts clients looking for all sorts of treatments, including Reiki, massage, acupuncture, yoga sessions for individuals, nutritional guidance, aromatherapy, and other popular wellness interests. She provides space for the experts to meet and treat their clients--transients can simply pay her a fee, or longer term rentals can be made. There is a small room for information displays, including video. The center has attracted lots of attention in the community and beyond. Marcia still sees her chiropractic patients.
Example: Bill runs a landscaping service. He cuts grass, trims shrubbery, helps homeowners put plants in their yards. He parks his truck and trailer behind his own house, and his garage is full of equipment and materials. Inside, he turned part of a bedroom into a small office setup. To expand, his wife reminded him, he needed to get the business out of the house, out of the garage, and out of the yard. To do this, Bill found a small garden center owned by an elderly man who was willing to enter into a lease-purchase agreement, selling the garden center to Bill. After carefully assessing the situation and the numbers, Bill jumped at the chance to expand and grow at the same time. Today, he attracts many more customers for an expanded list of services. He has added another truck and a crew to serve the needs of the bigger business.
Expanding your business means selecting additional markets to serve. When you serve more markets, you are growing the business.
Wednesday, November 4, 2015
Educate your customers
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to help you better manage your small business
Your business can handle more sales than you have. You can sell more. But you know that.
Did you know that some of your customers don't know all the things you can do for them? Some get accustomed to coming to you for one thing, but they ignore--or don't know about--all the other things you do.
You must educate your customers. It's up to you to tell them about all the things you can do for them. Otherwise, they tend to pigeon-hole you as expert in only one thing.
Example: You hired a web site designer and you were more than happy with the result. Now you need someone to set you up on social media. You call your web site designer and ask for a referral. Instead, he tells you that he also can help you with social media. He had never educated you in all the things he could do for you.
Example: Your regulars enjoy your restaurant's healthy meals. They come back again and again and refer others. But you never reminded them that you also do catering--you can handle small corporate events, home parties, and the like. But you lost that business when they called a competing caterer.
Example: Fred handles taxes for several small businesses. He knows that few people in small business give much thought to selling their business or practice. He announces a free seminar and invites all his clients. There, he discusses how to get a business ready to sell, what a buyer might expect, how to negotiate, what value to place on the business, etc. He answers many questions. During the following month, Fred gets calls from business owners wanting a private meeting with him to further pursue selling their businesses. On-going, it represented a big expansion for Fred's operation--he now works with businesses wanting to sell their operation.
Example: Linda is a reflexologist with many happy clients. They return again and again and refer others. She is also certified in hypnotherapy--helping clients with weight reduction, smoking cessation, and other problems. This has resulted in two sets of clients, so Linda continually cross-educates so that all her clients are aware of everything she can do for them.
Every time you interact with your customers, try to remind them of all the things you can do for them. Otherwise, they think of you in a narrow way.
to help you better manage your small business
Your business can handle more sales than you have. You can sell more. But you know that.
Did you know that some of your customers don't know all the things you can do for them? Some get accustomed to coming to you for one thing, but they ignore--or don't know about--all the other things you do.
You must educate your customers. It's up to you to tell them about all the things you can do for them. Otherwise, they tend to pigeon-hole you as expert in only one thing.
Example: You hired a web site designer and you were more than happy with the result. Now you need someone to set you up on social media. You call your web site designer and ask for a referral. Instead, he tells you that he also can help you with social media. He had never educated you in all the things he could do for you.
Example: Your regulars enjoy your restaurant's healthy meals. They come back again and again and refer others. But you never reminded them that you also do catering--you can handle small corporate events, home parties, and the like. But you lost that business when they called a competing caterer.
Example: Fred handles taxes for several small businesses. He knows that few people in small business give much thought to selling their business or practice. He announces a free seminar and invites all his clients. There, he discusses how to get a business ready to sell, what a buyer might expect, how to negotiate, what value to place on the business, etc. He answers many questions. During the following month, Fred gets calls from business owners wanting a private meeting with him to further pursue selling their businesses. On-going, it represented a big expansion for Fred's operation--he now works with businesses wanting to sell their operation.
Example: Linda is a reflexologist with many happy clients. They return again and again and refer others. She is also certified in hypnotherapy--helping clients with weight reduction, smoking cessation, and other problems. This has resulted in two sets of clients, so Linda continually cross-educates so that all her clients are aware of everything she can do for them.
Every time you interact with your customers, try to remind them of all the things you can do for them. Otherwise, they think of you in a narrow way.
Tuesday, November 3, 2015
Business beginnings
Free daily tips, information, advice and ideas
to help you better manage your small business
A business frequently grows out of things we do in our early years. As a child or teenager, we become interested in an activity that can later become a viable business undertaking.
Example: Tom worked summers during high school for a small construction company. He learned how to install siding, gutters and downspouts, build steps, paint and pour concrete and more. Tom saved his earnings. When he graduated high school, Tom could have started his own renovation and repair business, but he had a bigger idea. He used his savings to make a down payment on a three-family building that needed work. He put the place in tip top shape, rented the apartments to three tenants, and looked around for another building to buy.
Example: As a child, Jennifer watched her grandmother sewing. Needle and thread became magical to Jennifer--things got joined together and became something new and exciting. Out of the scraps from her grandmother's work, she made little outfits for her dolls. As a teenager, Jennifer's sewing became more ambitious. Encouraged, she made blouses and tops to wear herself. Fabric fascinated her. She turned old jeans into jackets and handbags. When she graduated from high school, Jennifer and her grandmother opened a small shop. It was filled with Jennifer's creations and they sold well. While Jennifer created new designs, her grandmother waited on customers and helped with the sewing. They reworked the shop's layout, installed a short runway and small stage, and today they hold regular fashion shows featuring Jennifer's designs. She is now graduating her business to the next level, farming out production and selling to other stores.
Example: Dave and Jim were buddies as teenagers and both were into fitness. They spent hours in the local gym working out and playing sports. When they graduated, they talked with the owner of the local weight training center about how to open a gym. Their idea was not to compete with weight training but to have an up-scale fitness center--offering weight reduction programs, healthy living, with a smoothie bar and vitamins and supplements. To their surprise, the owner proposed that Dave and Jim take over the weight training center and turn it into what they had in mind. The owner offered to structure a loan to cover the payout over several years. Dave and Jim were suddenly in business and on their way.
These examples show how people can take their interest to the next level. Keep in mind that any activity can be turned into a business. It takes time, planning and lots of hard work.
Whether you are in high school or stuck in corporate America, look to your interests and turn them into a business. It can be done at any age.
Starting a business takes hard work, an attitude, confidence, and persistence. Just do it!
to help you better manage your small business
A business frequently grows out of things we do in our early years. As a child or teenager, we become interested in an activity that can later become a viable business undertaking.
Example: Tom worked summers during high school for a small construction company. He learned how to install siding, gutters and downspouts, build steps, paint and pour concrete and more. Tom saved his earnings. When he graduated high school, Tom could have started his own renovation and repair business, but he had a bigger idea. He used his savings to make a down payment on a three-family building that needed work. He put the place in tip top shape, rented the apartments to three tenants, and looked around for another building to buy.
Example: As a child, Jennifer watched her grandmother sewing. Needle and thread became magical to Jennifer--things got joined together and became something new and exciting. Out of the scraps from her grandmother's work, she made little outfits for her dolls. As a teenager, Jennifer's sewing became more ambitious. Encouraged, she made blouses and tops to wear herself. Fabric fascinated her. She turned old jeans into jackets and handbags. When she graduated from high school, Jennifer and her grandmother opened a small shop. It was filled with Jennifer's creations and they sold well. While Jennifer created new designs, her grandmother waited on customers and helped with the sewing. They reworked the shop's layout, installed a short runway and small stage, and today they hold regular fashion shows featuring Jennifer's designs. She is now graduating her business to the next level, farming out production and selling to other stores.
Example: Dave and Jim were buddies as teenagers and both were into fitness. They spent hours in the local gym working out and playing sports. When they graduated, they talked with the owner of the local weight training center about how to open a gym. Their idea was not to compete with weight training but to have an up-scale fitness center--offering weight reduction programs, healthy living, with a smoothie bar and vitamins and supplements. To their surprise, the owner proposed that Dave and Jim take over the weight training center and turn it into what they had in mind. The owner offered to structure a loan to cover the payout over several years. Dave and Jim were suddenly in business and on their way.
These examples show how people can take their interest to the next level. Keep in mind that any activity can be turned into a business. It takes time, planning and lots of hard work.
Whether you are in high school or stuck in corporate America, look to your interests and turn them into a business. It can be done at any age.
Starting a business takes hard work, an attitude, confidence, and persistence. Just do it!
Monday, November 2, 2015
Avoid business strutting
Free daily tips, information, advice and ideas
to help you better manage your small business
You believe in your business. You know every aspect of what you do. You know where you are headed. You will not deviate from your plan because you are convinced that your plan is best and will get you where you want to go.
Careful. Strutting your own stuff in your business can be dangerous. It's one thing to believe in yourself, but it's another to turn a blind eye to what's happening around you.
The marketplace is continually changing. Technology is continually changing. How you attract your clients and customers is continually changing. Effective promotional tools change. Strutting your business stuff must change as well.
Example: Mika designs handbags. She began her business because of her interest in leather as a fashion accessory for women. Mika's business made a splash in the industry--magazines devoted spreads to her leather handbag designs. Television shows brought her in for interviews. Then came attacks by animal rights activists who were opposed to leather. Suddenly, no one in the media called Mika. Her free media splash ended, and sales plunged. Mika was hard-headed and persisted with her leather bags. Today, she is struggling, but she is still strutting her original business model--designing handbags entirely made of leather.
Example: Sara also designs handbags. She uses leather and many additional materials--colorful plastics, natural bamboo, woven fiber materials including even glass fiber. Sara keeps a sharp eye on the marketplace. Her business plan includes several lines of handbags--different materials, different sizes and uses. She insists on top quality production, both with the handbags produced in-house and those under contract production elsewhere. When sales of leather bags went through a down period, Sara shifted with the market demands. She regularly contacts her retail partners to obtain their inputs, and she closely follows fashion industry trends. She has even used inputs from focus groups. Her business strutting is solidly grounded in the marketplace demands--not her business plan which gets updated regularly.
Think of driving to the Grand Canyon. Alternate routes are everywhere. Different roads can get you there. You plan your route, but encounter inviting side trips, and these can alter your overall plan.
Business strutting occurs when you become a slave to your business plan. Business plans change as the world changes. Avoid business strutting.
to help you better manage your small business
You believe in your business. You know every aspect of what you do. You know where you are headed. You will not deviate from your plan because you are convinced that your plan is best and will get you where you want to go.
Careful. Strutting your own stuff in your business can be dangerous. It's one thing to believe in yourself, but it's another to turn a blind eye to what's happening around you.
The marketplace is continually changing. Technology is continually changing. How you attract your clients and customers is continually changing. Effective promotional tools change. Strutting your business stuff must change as well.
Example: Mika designs handbags. She began her business because of her interest in leather as a fashion accessory for women. Mika's business made a splash in the industry--magazines devoted spreads to her leather handbag designs. Television shows brought her in for interviews. Then came attacks by animal rights activists who were opposed to leather. Suddenly, no one in the media called Mika. Her free media splash ended, and sales plunged. Mika was hard-headed and persisted with her leather bags. Today, she is struggling, but she is still strutting her original business model--designing handbags entirely made of leather.
Example: Sara also designs handbags. She uses leather and many additional materials--colorful plastics, natural bamboo, woven fiber materials including even glass fiber. Sara keeps a sharp eye on the marketplace. Her business plan includes several lines of handbags--different materials, different sizes and uses. She insists on top quality production, both with the handbags produced in-house and those under contract production elsewhere. When sales of leather bags went through a down period, Sara shifted with the market demands. She regularly contacts her retail partners to obtain their inputs, and she closely follows fashion industry trends. She has even used inputs from focus groups. Her business strutting is solidly grounded in the marketplace demands--not her business plan which gets updated regularly.
Think of driving to the Grand Canyon. Alternate routes are everywhere. Different roads can get you there. You plan your route, but encounter inviting side trips, and these can alter your overall plan.
Business strutting occurs when you become a slave to your business plan. Business plans change as the world changes. Avoid business strutting.
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