Find where the playing field tilts in your favor - You can gain a competitive advantage in many ways, from selling at a cheaper price point to marketing a breakthrough technology. Sometimes, when your offering is very similar to a competitor’s, starting a campaign to donate a percentage of profits to a charitable cause your audience cares about can make all the difference. Or you could offer educational opportunities for your clients on unexplored topics.
Remodel the business - In well-established industries, major players tend to rely on the same basic business model for two reasons. The first (and most obvious) is that it works, but there’s something else at play. In large companies, people are often disincentivized to innovate. Would you want to be the executive who sticks with what works or the one who suggests taking a major risk that ultimately fails? That’s good news for new companies trying to enter an established industry: They’re free to chart a course instead of changing one.
Align yourself with a worthy cause - Consumers expect brands to take a stand on major issues facing society, and brands that don’t speak out will quickly fall behind their socially conscious competitors. Brand activism, whether by speaking up or taking solutions into your own hands, will give your business purpose even in its early days. Aligning your brand with a cause is a great way to connect with your consumers on a deeper level and, ultimately, make it harder for your small business to disappear.
The tortoise. Nature’s yellow light. He’s calm, quiet and cautious. And he’s not just slow — he’s slothful. His walk is a crawl, and he sprints in slow motion. To the tortoise, time is never of the essence.
Sometimes, clients are a lot like tortoises… especially clients on fixed-payment schedules. With net-30 and net-60 payment terms, they’re never in a hurry to pay you. They just stick to their slow-and-steady schedule. Clients like these can be challenging to work with, and they can obstruct your cash flow. An insufficient flow of funds could negatively impact your...
Mae West once famously said, "I speak two languages, Body and English." Turns out, she was onto something. Researchers at Stanford University have found that a person's non-verbal cues can predict their ability to learn and the strength of their creative skills. So whether you're leading a high-stakes pitch or taking in the weekly sitting status report, your body language can make all the difference. Here are five legit tips to help you put off a positive vibe.
The art of business communication is exactly that — an art. And like all but the greatest masterpieces, there's usually some room for improvement. Here are four simple tips to take your communications game to the next level. With a little practice, you can build trust, improve relationships, and break down barriers to understanding.
If you own a business, you probably have some clients who take their sweet time paying. It's all good - until you have so many unpaid invoices, you can't fund day-to-day operations. Nobody wants to turn away business. So what do you do when you've got outstanding invoices and your credit line is maxed? Should you take on a partner? Solicit investors? Issue convertible T-bonds? If you're not a jet setting international finance guru, you might consider factoring.
Acquiring new customers can cost serious time and money. There are sales calls, marketing efforts, and yes, the occasional bribe. Which is why it makes sense to take care of the customers you've got. Because if they end the relationship, you'll be right back to prospecting. Are you doing everything in your power to inspire strong relationships with your clientele? Here are five tips to help you strengthen customer loyalty.