Networking is a Great Strategy for New Business Owners
Rainmakers founder Tony Scelzo shares is perspective on the value of networking with Dave Anderson of Pinpoint AV.
Helpful Tool for New Business Owners
New business owners with a limited budget will find networking as an effective way to grow their new venture.
Rainmakers founder Tony Scelzo shares is perspective on the value of networking with Dave Anderson of Pinpoint AV.
Loyalty equals Profits
Question: How do you improve customer loyalty?
Answer: The path to profitability is clear. Attract and retain more loyal customers and you will see revenues and profits increase at an exponentially faster rate. Loyal customers buy more often and refer more customers than non loyal customers. Increasing loyalty will not only increase revenue but can reduce operating & market expenses as well
When factoring in all marketing and promotional expenses, the acquisition cost of new first-time customers can be very high (often 5-10 times that of retaining a customer). It is far more cost-efficient to make a small investment that ensures the satisfaction & loyalty of existing customers rather than make continuous, larger investments to attract new customers to replace dissatisfied customers.
The question for many is how to earn the loyalty of more customers. Acquiring customer loyalty is a process. As with any process, it helps to have the proper tools to achieve desired results. Customer measurement tools allow you to track and better manage customer satisfaction, which is the first and most critical step in the path to increased loyalty and profitability. Implementing a good customer satisfaction program can quickly increase customer loyalty and grow your business.
Content provided by Bob Hettel at Searchlight Solutions. For more information please visit www.searchlightsolutions.com.
Business Lessons from Jack in the Beanstalk
While the Magic Beans gave Jack his start, his own ingenuity lead to his ultimate success.
While the same is often true for small biz owners, in this video, Lorraine Ball of Roundpeg shares one of her favorite “magic beans”.
Do It Yourself Marketing
Find a Niche for Your Business, Fill It and Win
Take a gander at this article about niche marketing and tips on how to do this successfully.
Your best chance of success as an entrepreneur is to offer a product or service that’s unique to a marketplace that needs what you and your business have to offer.
Finding that niche, or creating it, clears the field of competition and gives your startup business a path to takeoff. Filling exactly the right position in the marketplace can create an overwhelming advantage that gives your new business a fighting chance.
“Your business has to find its unique and authentic proposition and voice,” says Kevin Carroll, author of Rules of the Red Rubber Ball: Find and Sustain Your Life’s Work. “What makes and differentiates you? What are you doing better, or more of, or amplifying more, than any competition? And don’t worry so much about the competition as about doing what you want to do, well.”
Techno
5 Common Startup Pitfalls
Here is a great excerpt from the book Getting Rich Without Going Broke: How to Use Luck, Logic and Leverage to Build Your Own Successful Business on how to solve the common problems that occur during a business startup.
Rosalind Resnick, the founder and CEO of Axxess Business Consulting, a
In this excerpt from her book Getting Rich Without Going Broke: How to Use Luck, Logic and Leverage to Build Your Own Successful Business (PageFree Publishing), Resnick shares her secrets for building a multimillion-dollar business.
Spreading the Word About Your New Business
These five tips on promoting your new business come from an article on Home Tax Business.com, but the author made some good points on how to let others know you have started your new business!
1. Issue a press release.
2. Write an article for the local newspaper.
3. Tour the small business circuit.
4. Offer current client incentive for referring family and friends your way.
5. Start a blog.
While specifically written for accountants, this is good advice for anyone. Read the rest of the article
And if you need help with PR, marketing or blogging contact www.roundpeg.biz to get your business started.
The Liable Nightmare, Wage & Hour
The following article was written by Ann Fisher is President and founder of HR Alternative Consulting, Inc. Learn more about Ann Fisher and the HR services provided at www.hralternativeconsulting.com or (317) 852-3590.
The rising number of overtime lawsuits is causing companies to examine potential problems they could face, due to the wage and hour laws. As the increasing amount of back wages, wages the employee should have received for working overtime, are among one of the highest workplace class-action lawsuits employers face. In 2006, wage and hour complaints filed by employees received over $160 Million in back wages. The Fair Labor Standards Act’s (FLSA) goal, effective in August 2004 was to clarify the white-collar exempt status for executives, administrative and professional employees.
