Too often a recurring philosophy is that market research is (1) only beneficial for large companies or (2) too expensive for small businesses and SMEs. Certainly, market research is beneficial to large companies, but it is equally important and beneficial…
Growth and success in a small business or SME is not accomplished overnight or by accident. A business owner must prepare for growth and eventual success by focusing on five basic “P” principles…plan, people, prioritize, processes, and pace. When these…
It is imperative for a small business to make the most of every dollar spent on marketing. Various sources of marketing must be thoroughly analyzed for the immediate return on investment, subsequent return on investment, and general branding. Unfortunately, many…
Good leadership is incredibly important for any business regardless of size. Whether an individual is an owner, executive, director, manager, or supervisor, business success is a by-product of good leadership. Business leadership inspires employees to achieve common goals. Successful leaders…
Financial statements…every business produces them…or should. In most small businesses or SMEs, they are most likely prepared monthly or quarterly and certainly should be prepared more often than only annually. Of course, the more frequently financial statements are prepared, the…
It’s a constant struggle in any small business or SME to improve operations, keep customers satisfied, grow revenues, and improve profits…especially in the aftermath of a pandemic when most businesses are hurting for both cash and customers. During these challenging…