Guest post by: Cindy Rayfield franchise consultant with FranNet. Cindy is a SCORE colleague and a serial entrepreneur. We are super fans of each others work and sit on a panel at the U.S. Air Force Academy each month to help transitioning service members interested in entrepreneurship understand their options.
As I work with my franchise clients, I need to know what [...]
When assessing one’s business competition, we often look at their strengths and weaknesses and attempt to predict how they will respond to various situations. Based on this information, we design a plan to deal with the competition. Yet, what happens when the competition acts in unpredictable ways? Field Marshal Erwin Rommel was one of Germany's most decorated officers. Why? Because his [...]
Pricing: Why Too Many Companies Sell Themselves ShortInc. By: Scott Maxwell When it comes to pricing, many startups price their products too low. In any business there will be a range of opinions about pricing. Unfortunately, that's often all there is. In general, companies don't think about pricing in a sophisticated manner while pricing can [...]
There is a gross misunderstanding when it comes to the protection afforded to business owners of a Limited Liability Company (LLC). This video identifies who’s liability is protected and who’s is not.
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Some recent research has caused me to completely rethink my marketing strategy. For years, I have heard that email marketing has a greater Return On Investment (ROI) than social media marketing. However, with my social media fans measured in the thousands and my email subscribers measured in the hundreds, I was sure that trying to grow my email subscribers could [...]
Basically, there are two ways to fund a new business: debt and equity. Debt, commonly thought of as a loan, requires that the borrower/guarantor has an adequate cash flow or has enough unencumbered liquid assets to pledge as collateral. This collateral covers the debt's principle and any liquidation costs and discounts in the event that the borrower cannot make the agreed [...]
At first glance, the difference between selling a product or service and selling a solution may not be very apparent. After all, aren’t all products and services created to provide a solution to solve a customer’s problems? Most businesses create a product or service that is a “one size fits all” solution. Rather than designing an offering to fit an individual [...]