Running a Smarter Small Business

Running a Smarter Small Business

It’s not necessary to work harder at your small business if you can just work smarter. It’s a well-known practice of the most successful entrepreneurs, tending to what’s important, ignoring what isn’t and knowing how to spot opportunities and problems before they arrive. Here are some simple tips to raise your small business’s IQ.

Tips

Build a business people will want to buy. No, this doesn’t mean you necessarily have to sell your business now or ever if you don’t choose to. But creating a saleable business also usually means creating a healthy and profitable business, and who doesn’t want that, right? It’s a pretty important yardstick for your business success. Is your business something people would want to buy? The Portfolio Partnership

Integrate social media effectively into your company. Are you using social media in your business today? This can involve much more than simply marketing. But if you already have other components of a more traditional marketing plan in place, you may definitely wish to combine them with your social media efforts. No matter what you are using social media for in your small business, you should integrate it into your other efforts too. ShopTalk

Planning

How to get things started. It’s important for more than just seeking investment or loans. A business plan should contain the information you will use to run and grow your small business. But where do you start when creating one? Creating a business plan takes thought and preparation, but it should never be a drudgery. Here are some steps to get you started on the business plan right for you. Expert Business Advice

Tips on the planing process. There are many concerns raised by small business people and entrepreneurs about the right way to create a business plan…or even if they need one. This example from one small business shows the benefits that having a business plan can truly give you. Realize the importance of a strategic approach to your small business when creating the best plan. Open For Business

Marketing

Keep blogging with these 20 tips for topics. Maintaining a blog for your business can potentially be a critical component of your marketing plan. But keeping a steady stream of original content flowing can be a challenge while running your business and serving customers. Not the least of these challenges is coming up with regular ideas you can transform into regular blog posts. This list of sources for inspiration should help. Riches Corner

Making your business show up on Google. Making your local small business visible on Google searches and on the Internet in general is more critical everyday if you plan on winning more business. Whether you happen to be interested in Tim’s service or not, his post and related videos including an entire online marketing blueprint for a local insurance company offer a wealth of information for any small businesses. timmcgarvey.com

Operations

15 ways to cut your small biz costs. There are a lot of ideas for cutting costs in your business without cutting productivity. Look for ways you can accomplish the same activities at lower costs and maybe even with better efficiency. Remember that many of your small business costs are based on decisions made over time. Re-evaluating these decisions over time may help you identify other options not considered previously. Angel Business Advisors

When financial insolvency may be near. Whether looking at your own business or the business of a competitor, customer or partner, it can be critical to see the signs. Could financial insolvency be ahead for your business or a company with whom you might have a strong business relationship? It’s important to know the signs and not be caught by surprise when financial difficulties appear. CorporateLifeOnline

Policy

Do we really need the SBA? Has the Small Business Administration finally outlived its usefulness? This issue has come up before with other calls to get rid of the agency whose main designated function is to loan money to small businesses. But if small business loans and even the demand for them are few and far between especially in a rocky economy, is the agency really worth the cost? WSJ

Changing roles for the self-employed. What could new pressure to re-evaluate the status of the self-employed mean for entrepreneurs and small business people? The stated aim of a “Freelancers Union” trying to get the Department of Labor to change the way it looks at “independent workers” is to improve working conditions for a major new segment of the economy. But the qualification could be so broad that it would apply to many small business owners too. Would this be a good thing or a bad thing for your business? Bloomberg Businessweek

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