Stay Competitive as a Nonemployer
Solopreneur Adrian Miller explains how she's used her small solo status to reap big rewards in the marketplace. With a little bit of ambition and a lot of persistence, she says you can do the same.
Avert Legal Battles with a Former Employer in Your Industry
When you leave a company to start your own, it's logical to make use of the knowledge, business relationships and experience you already have. However, if your new venture is in the same industry as your former employer, it's important to know your legal rights.
Create a Seamless Succession Plan for Your Family Business
The future of your company depends not only on whom you leave in charge but also on the tools you create to help transition the business.Read Article
Make the Right Moves During Business Downturns
When the going gets rough, successful small businesses get smart. Making wise financial and operational choices can help your business bounce back from the brink of disaster.
The Case for Health Care Coverage
While their cost continues to climb, health care benefits are critical for small business owners who want to stay healthy and competitive. Before you go without, consider your options, because a good plan is more affordable than you think.
Franchise vs. Independent: Learning From the Other Guy
From sure-fire formulas to unique offerings, both franchises and independent businesses have their strengths and weaknesses. Augment your business by knowing what works for the “other kind” of small business operation and why.
Prepare Your Business For When You Can’t be There
Just as you protect your loved ones with life insurance or a will, you need to protect the business you’ve established and the workers who depend on you. Learn how to create a plan that will keep everything running smoothly when you or your partner can’t be there.
Win Over Your Most Difficult Customers
It can be tempting to write off your most difficult customers as impossible to please. But how you handle temperamental patrons has a big impact on the way other customers and even employees perceive your business. Learn to support your staff in difficult situations—and still win over your toughest critics.
Hone Your Competitive Edge
Think you can’t compete with the big guys? Think again. You probably have advantages that you haven’t even considered.
Analyze Your Competition
Always remember there are businesses out there trying to do what yours does, only better. Conducting a competitive analysis within your market will let you know where your business stands and help you rise above the competition.
Develop Your Business Plan
Before you start a business, devise a plan that defines the business, its goals and whom it will serve. This step will set you on the path to entrepreneurial success.
Help Your Business Grow with the Right Number of Offerings
Increasing the variety of products or services you offer could boost your customers and revenues, or it could spread your credibility thin. Determine if your business would benefit from increasing or limiting the variety of its products or services.
Turn Seasonal Lulls into New Opportunities
As the seasons change, so too can your business’s profitability. Fortunately, unlike the weather, you can control how your business adapts to seasonal highs and lows.
Stay Ahead of the Pack
Running a business is about more than knowing your product and service. You need to know your competition. A properly conducted competitive analysis will provide the feedback necessary to give you an edge in your market.
Time to Revisit Your Financial Plan
Periodic reviews of your financial plan can help keep your personal and business expenses separate—and thriving.
Create a Plan to Achieve Your Goals
In order to get anywhere in business, you have to know what you want and how to get it. That’s why setting your goals—both long- and short-term—is the first step to getting there.
Create an Advantage and Keep it—with Ongoing Competitive Analysis
In the ever-changing world of small business, it takes more than a yearly competitive analysis to stay ahead of the game. Learn how to make competitive analysis an ongoing part of your business.
Develop Your Strategic Plan
A good strategic plan can help your business keep pace with competitors and boost your bottom line. Here is expert advice for developing a strategic plan quickly and effectively.
Return to the Business Essentials Library for more small business information and inspiration.