Companies can use the PESTEL analysis to determine long-term strategies for growth, opportunity, and minimize risk. The 6 factors of PESTEL are political, economic, sociocultural, technological, environmental, and legal/regulatory.
Struggling business owners can find local and government resources, such as US SBA, SCORE, chamber of commerce, entrepreneurship office, or local university. Some offer free assistance to small business owners.
List of start up costs for new businesses to help with estimating financing, proformas, and starting a business.
The start of summer is officially here. That also means some time to spend reading by the pool or the beach if you are lucky enough to get to spend the three day weekend relaxing. If you are looking for a business read, then let me throw out, Preparing Effective Business Plans: An Entrepreneurial Approach… Continue reading Happy Memorial Day! and Book Recommendation
The Crowdfunding for your small business course is now available. It includes over 4 hours of recorded material on how to choose the best crowdfunding project for your business, the internet platform to use, choosing the right rewards to attract customers, and budgeting your campaign. All of this information is to help you be in the half of all crowdfunding projects that are fully funded!
If you celebrate the holiday, enjoy the time with your family. We will be back next week.
There's a lot of facebook and online experts on how small business owners must create the perfect brand in order to be a successful business. The brand includes the perfectly chosen color scheme, the matching and coordinating website, print literature, and business cards. That is not true. I freely admit that you need a company… Continue reading Branding: Not just a Pretty Logo
As a business owner, do you know who your target market is? Can you describe the person or business that you are specifically targeting that can benefit from your product, find value in your product, and willing to pay for it? When I teach marketing to college and graduate students, I like to talk about… Continue reading Defining your Target Market: Not everyone buys the same toilet paper
Entrepreneurs come in all types and sizes, just like the businesses they run. If you are deciding whether or not you want to start a business, start with the type of business you want to start. There are about 4 types of new businesses: Innovative- These are the entrepreneurial businesses that create new products, expand… Continue reading 4 Types of Businesses to Start
For many small businesses, there are several ways to calculate profitability. The break-even point one way. It is the minimum sales you need to recover your costs. If you're a retailer and you buy a trunk full of clothes for $400, and you know you can sell them for $800, what is the break even… Continue reading Break-even Point for Lemons