Grow Your Business: Should You Open a New Location?

It’s not the cheapest or the easiest road to travel, but many small businesses choose location expansion as their vehicle for business growth. The general thinking is that more locations could introduce your products and services to a wider customer base. However, expansion could deliver the opposite–too much overhead without the expected bump in sales. If you’re looking for tips on how to grow your business, consider the benefits and potential pitfalls of opening in a new location.

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3 Things to Understand About Working with Venture Capital Firms

There are certain types of companies like technology startups and life science companies that venture capital firms seem to gravitate towards funding. However, you can still receive money from venture capital executives, even if you’re not in one of these fields.

Yes, a chunk of money to start or keep your company going is a wonderful thing to have; and, yes, it’s possible for you to charm a venture capital firm, (or ten), to gather the funds that you need. However, going from a, “Please,” to a, “Yes,” is a process.

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Two Strategies to get you out of Survival Mode and Grow

Sometime,  a lot of businesses go into survival mode.  They get away from the types of strategies that lead to growth and opportunities. Instead, they get stuck in a mode of maintenance. It’s time to get out of maintenance mode and create new opportunities for your business. With that in mind, here are two strategies for you to consider for growth.

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How to Grow Your Business with Some Help from Social Media

In today’s economic environment, growing a business requires business owners to create a presence beyond bricks and mortar. Today’s consumer spends a good portion of their time on social networks. With consumer habits trending towards internet based social interaction, it is essential that as a small or medium-sized business owner you throw your hat in the social media ring and learn how to grow your business through these powerfully popular platforms.

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Grow your Business by Knowing your Customer

Whether you’re producing or selling goods, or offering services, you don’t want to make every possible consumer your target customer. Otherwise, you’ll be competing with every other business in the world. In addition, by appealing to everybody, you appeal to nobody and buyers won’t know what your business is about.

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Grow your Business: 5 Tips for Fast Progress

There are many things to consider when you want to grow your business.  However, when you are grinding it out on a daily basis, it is easy to get sidetracked because there are not enough hours in a day.  Today, we will share 5 tips for you to keep in mind that can result in fast progress as you grow your business.

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Grow your Business: 3 Unique Challenges

The list of challenges faced when trying to grow your business is certainly a long one.  Some of them occur later on in the process than a lot of people realize. Even after brainstorming growth ideas, monitoring the marketplace for opportunities and putting together a plan, a lot lies ahead. There are unique challenges that arise during the process of implementing change, such as the likelihood of being overwhelmed or the difficulty in giving up responsibility and trusting your employees.

Even once you feel like you’re well into the growth process and more or less settled into the changes that you are making, there are a number of challenges to keep in mind in order to continue growing your business.  Let’s review what I consider to be three of the top challenges for you to keep in mind.

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How to Keep Employees Happy in a Family-Owned Business

One of the most difficult challenges to tackle in a family-owned business is the perception that employees who are part of the ownership family will be given special treatment when jobs open up.  The important thing is to make sure that as an owner, you do the best you can to make sure that those feelings don’t arise in other employees.  One of the biggest risks of that line of thinking is that your talented employees will be constantly looking toward the exit if they feel that there are no opportunities for advancement within your company.

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3 Simple Ways to Improve your Decision-making Skills

One of the most important things for any small business owner to do is to make sound, effective decisions. This is easier said than done, of course, as there can be many outside influences that can pressure a decision-maker. Sometimes, decisions will be rushed by time, while others may be influenced by financial pressure. Sometimes a decision will have to be made while an entrepreneur is juggling many tasks at once, making it difficult to devote his or her full attention to the question at hand.

That’s why it is important to focus on some of the methods that can help you to develop strong decision-making skills.  These methods will enable you to implement them when you are under pressure to make the right move quickly and confidently. Let’s examine three methods to consider.

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Be Prepared for a Business Interruption

One risk that many small business owners don’t spend enough time considering is business interruption.  Would your business be able to handle an interruption and still survive?

There are many types of interruptions that can occur in a business.  Today, we will review what I consider to be the three primary types of interruptions to your business that you can prepare for. If you’re ready for all of them, then you can run your business with more confidence; knowing that an interruption will not force your business to shut down permanently.

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