by Ken Sethney, Volunteer Business Mentor, SCORE Kitsap
A recent article on money.com dealt with a couple of difficult questions: “What Is a recession, and are we in one?” Three experts answered the questions. From a technical perspective we’re not there yet, but we could be very soon.
OK, fine. I’m not a college professor, a manager of economic research, or an investment strategies advisor, but from my perspective, we’re smack dab in the middle of a recession. The question we all face is what do we do about it?
If you own a business, you want to cut costs, but where? For some companies the decision is easy… the first cut they make is advertising. But you’re not so sure. Continue reading →
Making the sale, especially when your small business offers products and services to other businesses, demands more than being good at what you do. It definitely requires building professional relationships. To do that, you must earn your customers’ trust.
There’s no scientific formula for earning trust. It requires time, patience, and honest effort.
Here are some suggestions to help you lay a foundation of trust with your potential customers: Continue reading →
Most businesses are on a fiscal year which coincides with the calendar year. Now is a good time to look back and reflect on 2019 as well as look forward and create a new budget for 2020.
A budget is a roadmap. Based on where you have been, it can help guide you to the desired final destination for year-end.
If you stay on the current course – where will you end up? Alternatively, if you change the route – where will you be at the end of the year? It is up to you to decide which path is the most profitable and most likely to be achieved.
The first year of operations is a critical time for any small business, with decisions made about market focus, finding financing and hiring a team that will have a significant impact on the business’s success or failure in the future.
SCORE’s fall 2019 “Megaphone of Main Street” data report focuses on the challenges facing startups, which are companies in operation for less than one year.
This latest installment of the Megaphone of Main Street is the fourth in a data report series that presents a snapshot of the current American small business landscape. This particular report delves into the world of startup entrepreneurship, sourcing both qualitative and quantitative data directly from a diverse group of roughly 1,000 startup small business owners across the nation. Continue reading →
How often do you make changes in your business?
Like most entrepreneurs, I love “shaking things up.”
Here are 11 changes you can make in your life and your business for a more exciting, enriching and profitable future.
1. Update your business technology.
Tech tools enable small businesses to run as productively as big ones. Are you taking full advantage of them? Assess which technologies would help you do business more effectively in the coming year, whether that’s new computer hardware, switching to more sophisticated business apps, or using cloud storage and collaboration tools to streamline your workload.
2. Get organized.
If you’re feeling overwhelmed, lighten the load by cleaning out your office. You’ve probably gone digital in many aspects of your business, but you might still have old folders or file cabinets full of paper documents. Purging those piles and files of paper will make you feel more focused. Shred what you no longer need; scan important documents you still need to save and store them in the cloud instead. If they contain sensitive financial or personal data, make sure they’re encrypted and protected from access except by employees who need them.
With business technology ever evolving, expanding our collaboration and communication capabilities, we can assume that more small business owners will want to seize opportunities to extend their customer base beyond U.S borders. With 96 percent of global consumers living outside of the United States (according to the U.S. Department of State), reaching a global market can fuel revenue growth and offer some protection against fluctuations in the U.S. domestic markets.Continue reading →
Is your small business thriving? Do customers from out of town ask if you’re going to open another location in their neck of the woods? Are you secretly yearning for a new challenge now that your business is running so smoothly? If you can answer “yes” to all these questions, it might be time to consider franchising your business.
But there are a few other questions you need to answer to determine if you’re ready to get serious about franchising your business.
Does my business have strong systems in place?
A good franchise has operational systems and processes that can be standardized and taught to other people to provide a consistent product or service across all locations. For example, if you own a sandwich shop, do you have a written system for all the steps of making a sandwich, such as:
Whether to put on gloves first
How much meat, cheese, mayonnaise, and other ingredients to use (such as “two ounces” or “one tablespoon”)
Here’s an email marketing message from one of our Kitsap SCORE clients. His company is focused on protecting healthcare companies’ data from ransomware attacks. The message and call to action are simple. How about yours?
Dear __________________ ,
You may not think it could ever happen to your company, but with the prevalence of ransomware and the rise of malicious attacks, it’s now just a matter of when it will happen in your business. The best line of defense is to prepare and plan, implement the most effective technologies to protect data and then invest to train all of your employees on how to avoid potential ransomware attacks at all cost.
We have the solutions and the expertise to help your business get proactive and stop ransomware from becoming a disruptor to your day-to-day operations.
Let’s schedule a call to discuss how we can help.
John Benjamin | CEO
Cavu Networks | View Website