Step 1 – Target Your Market No matter what size your business is, the key to growth is working smarter, not harder. That means focusing your resources—time, money, personnel—on those activities that deliver the greatest return. Follow the 80/20 rule of productivity: just 20% of our customers, products, and activities generate 80% of our business…
Many entrepreneurs don’t set specific goals for their business, but studies show that goal setting really does drive higher achievement. According to small business peer board members who’ve embraced this technique, goal setting forces you to focus your energies effectively and develop real, viable action plans. It isn’t hard if you follow their lead. Here’s…
GIVE YOUR BUSINESS A POWER CHECK The key to growing your business is to keep evolving. To do that, you have to step outside your daily business and see where you fit in the big picture. You give your business an unbiased power check. Immersing yourself in new ideas is one way to broaden your …
The world around us is changing and if you don’t want to be left behind, you need to change, too. You can’t afford to hold onto your old ways. (The dinosaurs refused to change, and look what happened to them, and also Sears & Kodak.) But changing is easier said than done. How do you…
SWOT Analysis: Learn to Manage with Insight and Vision Conduct a SWOT Analysis Are you familiar with the concept of SWOT analysis? This is a great offensive and defensive study and activity. Large corporations and progressive small businesses (such as PRO, President’s members) use SWOT—an acronym for Strengths, Weaknesses, Opportunities, and Threats—as a strategic planning…
Why Every Small Business Owner Needs a Mentor (and How It Can Transform Your Business) Running a small business is a rewarding but challenging journey. At times, it can feel like you’re wearing every hat in the office, from CEO to janitor, while trying to figure out marketing strategies and balancing the books. It’s no…
Building a successful small business is not a solo journey. To thrive, you need the right skills, financial strategies, and guidance from trusted advisors. Whether you’re part of a Small Business Leadership Group or have access to a Peer Advisory Board, leveraging these resources can significantly impact your growth and long-term success. 1. Tap Into…
Tracking Your Business Progress: How to Measure and Manage Growth Effectively Running a small business can often feel like you’re managing by intuition, reacting to challenges as they arise. However, guesswork and gut feelings aren’t enough to ensure long-term success. To truly grow your business, you need to track your progress through clear processes and…
Retooling Human Resources: A Roadmap to Building a Stronger Team When it comes to growing a small business, many owners focus on sales, products, and the big picture. But there’s one crucial piece often overlooked—human resources. Specifically, how do you ensure you have the right people on your team, and how can you measure their…
How to Create a Marketing Plan and Budget for Your Small Business If you’re a small business owner, you’ve likely thought about your marketing efforts. But, do you have a written marketing plan? Many businesses approach marketing in a haphazard way—acting on impulse rather than strategy. Unfortunately, this usually leads to inconsistent and ineffective results….
