Many small businesses don’t have the time or resources to adequately monitor their own financial status, no less the ability to screen the finances of their partners, vendors, suppliers or customers. However, if SMB CEOs take away one thing from the current recession – it should be a clear understanding of how important it is to have a transparent view of their customers’ financial situation.
But with so many CEOs plagued with time, money and employee restrictions, how can they effectively implement the strategies to do so? Here are a few tips to help small businesses get started:
1. Evaluate Your Businesses’ Current Financial Standing – You can’t monitor your customer until you monitor your own business.…
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Twitter has not only received quite a bit of press in the past year, but it has also become an important tool for many trying to market their business, product or personal brand. Of course, people and businesses alike are doing this with a varying degree of success and some have a much better handle on the whole social media for marketing thing than others. Here are a few tips to improve your Twitter experience if you’re floundering or if you’re not seeing the results that you had hoped.
The U.S. economy’s worst recession in the post-war era has begun to turn for the better. Yet, despite the fact that the doom and gloom of the past 20-plus months may be behind us, entrepreneurs seeking to buy businesses still find it difficult to get banks to finance their purchases.
In smaller organizations, IT management can be a real challenge. Technology changes rapidly and qualified staff might not always be on-hand to maintain mission-critical systems, support users and administer the network.
Back in late June 2006, after a lifetime of erroneously thinking that living in the Northeast meant I was immune from natural disaster, I learned that I was wrong when 
Small to mid-sized businesses have unique challenges when it comes to managing projects. SMB’s often don’t have the processes or systems in place to efficiently support the current size of the organization or its future growth, so projects are critical to future success. At the same time, SMB’s have limited resources and small training budgets which can adversely affect projects. SMB project failure can result in investment dollars and staff time down the drain, not to mention disruption in your organization. Don’t jeopardize your operations and profitability.
In tough economic times, businesses are looking to cut corners and boost ROI in every way they can, and often the first thing to be cut is the marketing budget. The irony of such an approach is that marketing is necessary to achieve consistent sales and growth. Rather than completely cut marketing from your company’s budget, the smarter choice is to optimize your marketing strategy and calculate returns, and hiring a PPC management firm can help “¨you do just that.
Small businesses are famously agile and attuned to the wants and needs of their customers. But as they begin to grow, or as market conditions begin to change, staying on top of customer requirements can be a tricky feat. If relationships become too tenuous, an aggressive competitor will prey on those weaknesses and poach “at risk” customers.
Social networking technology has made it very easy for people to share their opinions, rate favorite products, and communicate with others. This activity is happening every day, everywhere, and for practically every product that exists. No matter how big or small your company is, if you have customers, you can bet they’re talking about your brand or product somewhere. So what are you doing to influence that conversation?
