Archive for the ‘Small Business Strategy’ Category

Do You Have an Exit Strategy? Why You Should.

Tuesday, May 29th, 2018

by Justin Grensing, Esq., MBA

For many entrepreneurs, starting and running their own business is the culmination of their life’s ambition; the chance to be their own boss while doing what they love. But as an entrepreneur, is your goal really to continue your business for the rest of your life? Or to pass your business on to the next generation of your family? Or to simply let it fade into oblivion? The point is, unless you’ve taken the time to specifically think about the future of your organization beyond you, you really don’t have an exit strategy. (more…)

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3 Plans to Drive Small Business Success

Friday, May 18th, 2018

by Justin Grensing, Esq., MBA

Every small business owner knows that the path to success is fraught with many challenges. From managing staff, to financing, to marketing efforts, small business owners often feel overwhelmed with the ancillary yet critical activities they need to succeed at in order to pursue their love of event planning, or flower arrangement, or owning their own medical practice, etc. In a recent article for Entrepreneur, Pamela Slim discussed “How to Overcome Common Challenges and Help Your Small Business Grow,” and one of the topics Slim focused on was the concept of “reacting versus looking ahead.” (more…)

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Value Trumps Price in Effective Marketing

Sunday, April 15th, 2018

In the world of sales and marketing, we often hear the terms “value” and “price” used interchangeably. Specifically, many people think that the lowest price option is the best “value” because it’s the cheapest. That may be true in the narrow context of commodities – $100 for X amount of ABC grain is a better value than $150 for X amount of XYZ grain, because for true commodities, there is no difference between ABC and XYZ brands. But for non-commodity products and services, value and price mean very different things, and marketers need to be aware of the difference. (more…)

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Guiding Consumers to the Bottom of the Funnel (BOFU)

Thursday, November 30th, 2017

Customer reviews, client reviews, best PR firm, public relations, content marketingThe word “sales” often conjures up some very specific images. A man in a suit holding a briefcase going door-to-door selling encyclopedias or vacuums, for example. Or a guy hustling in a car lot. But as we know, sales is, in reality, a process. A process that ends with a pitch. The direct pitch to the customer or the final sales touchpoint is the last step in the sales process and is often referred to as “the bottom of the funnel” (BOFU). It follows TOFU (top of the funnel) and MOFU (middle of the funnel) activities that are designed to move the consumer down a pathway to a purchase. (more…)

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Tips and Considerations in Responding to RFPs

Thursday, November 9th, 2017

Requests for proposals or RFPs are very frequently used in B2B procurement processes. Essentially, an RFP involves a business or government entity trying to streamline and standardize its procurement process by requiring all potential suppliers to provide answers to an identical set of questions in order to help the procurement people on the purchasing side efficiently and effectively evaluate their options.

Securing a B2B contract can mean big business for any company; however, for start-ups and small companies, the demands of responding to RFPs can be considerable. It’s not a process to be taken lightly; however, there are some best practices to keep in mind that can help you navigate the RFP jungle. (more…)

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Corporate Social Responsibility: Difficult Choices Require Strategic Approach

Thursday, May 5th, 2016

Boardroom tableSupporting the local community can be expensive. Even large organizations have to be careful about how and where they lend their time – and money. Is there value – beyond personal satisfaction – in supporting local events and activities? Which ones? How can you say “no” graciously to the many requests that come your way? (more…)

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Ideas for Choosing and Working Effectively With Freelancers

Thursday, December 10th, 2015

According to a recent article in Harvard Business Review,  freelancers represent 34 percent of the American workforce. This includes more than fourteen million so-called “moonlighters” who have full-time jobs but use freelancing to supplement their incomes. The good news about this data for freelancers is that there are a lot of opportunities for freelance work. The downside is that there is plenty of competition as well. (more…)

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To Engage Your Audience, Provide Real Value

Tuesday, September 8th, 2015

Savvy business owners and marketing professionals are always looking for ways to deepen their connection with existing customers and attract new clientele. In the age of content, newsletters and e-letters are great ways to connect with an audience and good tools for small-to-medium-sized businesses (SMBs) to use for customer engagement.

The key—as with any kind of online communication—is to (more…)

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Marketing Planning: An Ongoing Process

Friday, September 4th, 2015

In an industry like marketing that’s driven by having its finger on the pulse of cultural trends and attitudes, a major fear is becoming stale, outdated or thought of as “yesterday’s news.” At the same time, there’s a very real danger in being too quick to move away from the tried and true, especially in established businesses and industries. So, with the obvious need to strike some sort of balance, the clear question becomes, “How often should I update my marketing plan?” (more…)

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