Analyze
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Reinforce Your Company Name and Contact Information
The van in front of me at the red light had a list of services on its back doors. With nothing else to look at, I read the list. Hmm. We could use some of those services! But, wait. There was no company name, phone number or website address. At the next light, I was beside the same vehicle. There ...
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Are You Presenting Your Business Name Clearly?
Names should be clear and memorable, as we discussed
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What’s in a Name?
What is important to consider in choosing a specific business name? Let’s start by looking at possible Objectives for a new business name, such as: o Meaningful to the target market; relevant; ties to the products or services sold. o Easy to remember: simple, melodious, clever; not too long. o Easy to understand: makes sense; fits local vernacular. o Easy to find ...
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What Circumstances Make a Company Name Important?
Does a specific name matter to a business? It can matter a great deal, depending on the nature of the operation. Situations in which name selection is very important: o A retail store/warehouse/outlet is hard to locate; and/or prospective customers need to search for contact information online. If the name is hard to remember, people will have difficulty locating and ...
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Building Personal Relationships with Prospective Customers
Last week, we reviewed an example of Relationship Marketing as it applies to existing customers. We definitely need our customers to buy again, but we also need to build ...
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Long-Term Security: Manage Your Profit Distributions
What is one of the top reasons for business failure? The poor financial management of owners who use their small businesses as personal savings accounts. One of the most important rules of a business startup is to open a dedicated business bank account. Deposit an initial sum that serves as a capital account. The ...
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A Character Trait Every Entrepreneur Needs
Have you ever questioned your self-employment? Perhaps you have times when you feel that you should give it up. Your energy and enthusiasm are waning. This happens to all of us from time to time, especially when we are disappointed by the sales volume or profit generated by our efforts. Recently, I met someone who, in casual conversation, gave me the
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Invest in Planning Before Investing Dollars
Planning is underrated! Evaluating an opportunity on paper can save time, money and frustration for entrepreneurs who seek to start a new business or expand an existing one. Planning does not have to be overwhelming. Here are three examples where planning can be very effective: o Industry conferences can be well worth the cost, but they can also be a huge disappointment ...
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Understanding Your Business: Cash Flow Matters
Developing an accurate Profit & Loss statement is a good start, but small business owners must continually monitor their cash position. An all-to-common landmine for entrepreneurs is a shortage of cash to pay the bills. If this goes on for an extended period of time, the result may well be bankruptcy or dissolution. Positive ...
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When Are You Open For Business?
Do your prospects and customers know when they can reach you? For the self-employed, there is a difference between the hours in which we are working, and the hours in which we can be reached by prospects and customers. The former is likely to be longer – perhaps much ...