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Can you Afford the Best?

Ashville Business Park. On the North side of t...

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A lot of businesses think they can’t afford to hire the best possible employees out there. Unfortunately, far too often the very idea that they can’t afford something is what keeps them at a lower level than their business could be at. When a business maintains a mindset of scarcity, it keeps them from exploring their full potential.

Simply put, you can always afford the very best. The question to consider generally comes out best as how can you afford to hire the best. When you think about it, how can you not hire the best people possible when you have something that needs to be done? After all, the best workers in any discipline won’t end up costing you money but making it for you. While a lot of small business owners only see the costs involved in taking on additional employees, hiring great people means you hire those who will help your business to grow stronger.

Affording the best people means that in your mind you have already made an amount of money that will allow you to pay for the salaries and benefits of every new person you intend to hire on. When you focus on being wealthier instead of poorer, you not only can hire these people but must hire them. After all, hiring mediocre employees will only make your business turn into one more boring, okay company instead of the money making machine you’ve always dreamt of having. Now how can you afford the best?

Filed Under: Advertising, Finance Tagged With: , ,

Advertising Your Business: Which Form is Best for You?

Advertising is an important part of your business. Although you might have customers now, you constantly need to reach out for new ones. Let’s face it: your current customer pool doesn’t likely purchase goods or services from you on a daily basis. Advertising also plays a role in keeping your customers interested and excited about your business.

The confusion begins once you decide how and where to advertise. There are several venues to choose from for different markets. Different types of advertising also vary in costs, with business cards being the cheapest and television ads being the most expensive. Here is a breakdown of different types of advertising and what they entail:

  • Business cards. These are useful to pass out to potential customers and to give to your current customers so they can share information with friends. Depending on how fancy you get, a pack of 500 cards can range from $20 to $150.
  • Yellow pages. These are hit-and-miss unless your customer is specifically looking for your service. No target market reads the yellow pages front to back. These are more appropriate for specialized businesses. Examples might be a wedding boutique or a pediatrician.
  • Magazine and newspaper ads. These run a set amount of time. You can choose between different sizes and colors, and perhaps even page placement at an additional cost. Newspaper ads are the least likely to capture attention unless you run it every single day.
  • Radio advertising. This is expensive and is becoming more outdated as more people are using satellite radio and different forms of media to play music. Many radio ads yell at their targets in hopes of getting their attention. If this is not how you want to be portrayed, you may want to skip it.
  • Television advertising. The most expensive, with ads ranging between 15 and 30 seconds long. Not only do you have to pay a company to help you create the ad, but you also have to pay to air it. Television ads are not for newbie business owners on a tight budget.
  • Word-of-mouth: free and based on excellent customer care.
Filed Under: Advertising, Business, Employment Tagged With: , ,

Business Cards: Is this Type of Advertising Worth the Cost?

Business cards have a history in Europe and in Asia as method of introducing yourself and others. United States business owners started utilizing cards during the late 1800s as a method of advertising. Today, cards are used as a way to introduce yourself, and also as a keepsake for a potential customer. Given the nature of business cards, it is easy to understand why there are so many types of cards. The standard, plain 3 x 2 card simply does not stand out anymore. However, before you buy 1,000 glossy double-sided cards, consider whether this investment will have a return in revenue for your business.

Business cards are essential for those that are selling goods and services. A basic card lists your name, business location, phone number, and perhaps a website or e-mail address. There are different finishes you can choose. A basic white paper stock is the least expensive, and perhaps the most practical if you are just starting out or hand out dozens of business cards a day. You can also choose a matte or glossy finish to your cards. You can even add text and art to both sides of the card. Keep in mind that such editions will double or even triple the cost of business cards. Glossy finishes and double-sided cards are also difficult for your customers to write additional information on, unless they happen to carry a sharpie marker with them.

There are websites that offer free standard business cards so long as you pay shipping. If you go to a store, you are likely to get better quality cards. A pack of 1,000 cards can range between $50 and $200, depending on what features you use.

business owner should have some type of business card. Not only does it make you appear professional, but the information is handy for customers. The issue should not be whether you should have business cards, but rather what type. If you want to stand out from the competition, have the most creative card your budget can allow you. Remember to purchase only what you can afford.

Filed Under: Advertising, Business, Finance Tagged With: , ,

Blogging for Business

You have come up with a new business idea and you are ready to get things started. You don’t have a lot of money to invest in advertising, but you know you have to get your business out there. Try using a blog to advertise your company and tell people what your services are about.
A blog is usually free and easily accessible via search engines. This is something you can do yourself. That way you are sure you are saying things right and you control when and how often entries go out. There are a few things to keep in mind when you write your blog content.
The first thing you want your blog to do is tell people what your company is all about. You want to communicate the level of service you provide, you can set the tone for your company with the words you use and you can highlight the differences between you and your competitors. If you are marketing something revolutionary or new and you are afraid people will be skeptical or not understand, use your blog to explain your product to the public.
You also need to monitor how often you publish your entries. You want it to be consistent with your publishing frequency and your tone. This will show the readers that you know what you are about and they can count on you. Also, if you publish consistently they know that you keep your word. Small things like this might seem unimportant, but put yourself in the shoes of your target audience. What would you be looking for from a new company? Go to a few websites and see what draws your eye and what things they do that you like. Is it consistency of tone, updated material and clear and concise explanation of services? If it is, then those are the things you want to duplicate on your blog.

Filed Under: Advertising, Business, General Tagged With: , ,

Legal Matters to Consider When Starting Up a Small Business

A small business start-up may sound like a lot of fun, but it is also a lot of work. If you are considering starting your own small business, make sure to research the fine print and legal work before committing. Besides working on your project plan, a possible website, marketing, and more business-related tasks, you will need to watch out for licenses, permits, capital gains tracking, tax deductions, and international trade guidelines. Here is a brief overview of some of the licenses, permits, and legal documents that you will need to research when you start up your business.

It is important to have enough start-up capital when you venture out on a new business. Insufficient funds are the single most debilitating factor for many would-be small business owners. If you do not have the liquid assets, consider a bank or government loan, or ask a family member or close friend for a loan. If you borrow from a friend or family, try to keep the transactions as business-like as possible, by drafting a legal document that states how much you will be borrowing, at what interest rate, for what purposes, re-payment plans, and then give a copy to the lender as well as to a third-party witness. Another funds option would be non-profit or government grants. If you have some skill in grant writing, or a flair for persuasive writing, then you might have a chance in winning a grant or two, which could go a long way in defraying your start-up costs.

Although starting your own business can seem daunting, there are actually several helpful government affiliated websites that include user-friendly resources and tips to help you keep your advertising campaigns, employee hiring and management tactics, intellectual property rights, and other legal matters up to code. A business mentor or legal advisor can also be an invaluable resource as you try to navigate the waters of starting your own business.

Filed Under: Advertising, Business Tagged With: , ,