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How to Grow a Small Business

Once you have started your own small business there are a number of ways you can grow your business larger. Even in a bad economy it is possible for your business not only to survive, but to thrive.

In fact, many of today’s largest and most successful businesses were started in the midst of the Great Depression of the 1930’s. So you should have no trouble increasing the size of your small business, and hopefully also increasing your profits.

There are only three ways to make more money with any business. They are number one: Get more customers. Number two: Get your customers to purchase more. Number three: Get your customers to purchase from you more frequently.

The size of your small business is directly proportional to the number of customers you can acquire, and the amount of goods or services you can provide.

It does no good to vastly increase the number of customers your business receives, if you are unable to supply their demand. Conversely, it does no good to increase the amount of goods or services you are able to source if your customer pool is not growing as well.

Therefore, while the only way to grow your business is to get more customers, you must also grow your ability to supply those customers at the same time.

Only if you can do both things, which is to get more customers and build your supply while still maintaining a positive return on investment, will your business be able to grow.

Now then, if you already have a small business or large business for that matter, and have grown it to a particular level or reached a plateau and now you wish to grow your business even larger, you stand in very good stead.

Assuming your business is currently profitable it is a simple matter to redirect a portion of your profits into avenues that will help you to acquire more customers and to build your supply of products or services.

Much of this can be done with outsourcing, and if you develop effective systems for customer acquisition and streamlining your supply chain, then simply increase profits and finance even further outsourcing, which will even further increase the size of your business.

That said, it is possible to develop a system for your business which will allow your business to continue to grow while you personally have to do less and less work.

One of the fastest ways to acquire more customers for your business is to be tracking the ways your business is successfully obtaining customers currently, and then simply do more of that.

Another good way to grow your business is to be creating a mailing list of your current customers, and then mailing to your customer list and giving them special offers or special promotions. Perhaps even give them limited time coupons or incentives for making referrals to your business.

Another way of growing your business, which is often overlooked, is to encourage your current employees to offer ideas on business growth and ways to improve your current business.

Doing this has the positive effect of generating positive morale on the part of your employees. They feel like a more important part of your business. Who knows, maybe some of their ideas will help your business to grow even faster and bigger than you yourself could imagine.

Calvin Brown is a wealth creation expert and author. He lives in Anacortes, WA and spends his time teaching others how to create wealth. For more information about how to grow a small business and increase your income, check out his latest book, “The Money System” which is available at http://www.money-system.info

Small Business Grants for Women

Many young ladies out there have gained a lot of interest recently in the so called small business grants for women. And how can we be surprised to hear this, considering the fact that the government offers real chances and supports to good projects and causes. After all, why shouldn’t women take advantage of these small business grants for women and invest the money in noble goals and successful, meaningful businesses? The sad thing is that, even though the world is changing for the better, the society and the business world is still leaded by men – but the government grants for women are here to change all that!

There are some requirements you need to meet before even thinking about applying for small business grants for women – and the most important one of all is that you have to own a business. More exactly, you need to have at least 51% in order to be eligible for such a business grant program. It is highly important that you have a flawless credit card history before you apply for the small business grants for women. For sure, this is not an easy job and you must think way ahead in order to maintain a clean and positive credit card report. If you have done some financial mistakes in the past, then repair them while you can and only then apply for the grants sources.

The strategy is the most important part of your application for the small business grants for women. What you need is a great plan, a one of a kind idea and a little creativity in order to make it all seem incredibly appealing and convincing. The right idea can help you gain many points and can definitely put you in a favored light.

You might want to hear some extra tips regarding the ideas that sell best when wanting to obtain small business grants for women. Well, think about all the things that can actually help your community. For starters, women always prove to be great in education-related fields, so why not start from here?

But your region or city might need some very specific businesses or organizations for the citizens. You, as a local should know bet what your area needs – maybe a medical centre or maybe a cultural centre. As long as you base your strategy on a meaningful cause, you are definitely a perfect candidate for the small business grants for women.

All these might be a little confusing – but if you really need some extra help, you can hire a specialist to guide you all the way. Like this, you can create the most powerful business plan and get the small business grants for women you desire.

You must be convinced by now that the small business grants for women are a great solution to start a business or an organization. Small business grants for women can become a reality, as long as you put some efforts into planning your proposal. So, act ahead, start researching, planning and thinking about your strategy to get that grant money!

Small business grants for women encourage starting new projects, or expanding existion operations. On her website Small-Business-Grants-Aid.com Livia Monroe gives the latest tips and advice about the successful application procedure.

Breakthrough Strategies For Small Business

Are you a small business owner? How many hats do you wear? You know it is a lot. And with all of those hats come many different responsibilities. So many in fact that we are forced to prioritize what gets accomplished. The question is, what is being neglected when you are done prioritizing and what is the cost to you in terms of money, time, or emotions? So, Mr. or Mrs. Small business owner, first, let’s take a closer look at the many responsibilities that you have. Then we will take a look at how to manage them all.

First is your Chief Implementer hat. When you wear this hat you supply your product, deliver your service, and take care of customers. That’s what you got into business for. It’s your passion and what you are good at. So it’s most likely that you spend most of your time wearing this hat.

Next is your CEO hat. A business owner needs to make strategic and tactical decisions. What’s the direction that the company is headed in? This is where the 30,000 foot view stuff gets addressed. What are your 3 and 5 year goals? What needs to happen this year? How will you accomplish those things? How do they get tracked and measured? As CEO and Captain of your ship, you have the responsibility of making sure that you have a destination and are on the right course to reach it.

Also, you have your VP of sales and marketing hat. Who will you target, how will you target them, and what will you say or do when you have a prospect are all critical issues to a business owner. Without effective marketing to reach your target audience, there are no sales conversations. We know what happens if that is the case. Without an effective sales process, there are no customers. This is equally as bad.

Developing ourselves and our potential is necessary to grow as a person and thus grow the business. Your time of course is limited. When you spend time developing the skills and knowledge that falls under one of these “hats”, which one is it usually? Probably what falls under your chief implementer hat, right? Because that’s where your interest lies and your reason for being in business. Due to this, it becomes your path of least resistance. It’s easier and more pleasurable to work on things we are good at and passionate about.

So here is the million dollar question (or more): What is it costing you by not developing those other two “hats”? I’m not just talking about dollars and cents cost. How about the cost of time and energy (if you are going in the wrong direction), and emotions (frustration if your business is not where you want it to be). Are there other costs too? Only you can answer that.

“So what do I do”? You ask. Here are some steps you can take to address developing your CEO and VP of sales and marketing hats.

1) Revisit your company’s vision statement. Rewrite it or if you don’t have one, write one.

2) Set goals in the following 4 areas: management, customer, growth, profit

3) Read books or research online, or talk to people who can help you strengthen areas you identify need work

3.5) Remember that you can make radical changes. You make them a little at a time. Just start by identifying where you want to go.

Feel free to contact me for resources to help. I would be happy to share them with you.

I help executives, business owners, professionals, and salespeople become more successful. Do you want improved results? I help people think differently so that they can behave differently. Since it’s our actions that lead to our results, better thinking is the key to the success you want. There are 3 things that I work with: attitude development, skills and knowledge, and goal setting for achievement.

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Mission Statements For Small Business

According to the “Marketing Essentials” school book, a mission statement is “A brief paragraph or two that describes the ultimate goals of a company.” What is your company about? What is your intent by being in business? What do you stand by when you do business?

Asking yourself the questions above can help you determine what you want to communicate to a general audience about your company and it’s goals. A mission statement can help you determine a tag line. A mission statement can be presented on your Web site, in your business plan, marketing plan, displayed on your wall in your business, presented in a press release or any other number of advertising and marketing efforts.

Many times, a small business is a one-man show, so why develop a mission statement? Having a brief description of the ultimate goals of your company and why it exists helps you develop your 30-second elevator speech, present succinct communications to your audience, and identify your products or services being offered. In essence, developing your mission statement helps you think more clearly.

My mission statement originally was “to provide reasonably priced professional writing and graphic design services to new and small businesses.” First, I made sure I was priced reasonably, then I targeted my audience of small businesses and further developed the messages I would communicate based on the audience. As my business has developed and I have found different audiences, my mission statement has adjusted to “provide reasonably priced professional technical and marketing writing and graphic design services to businesses of all sizes.”

A mission statement generally reflects the goals of a business. My goals adjusted slightly in that my target audience became broader in order to include larger companies that I can do contract work for in either technical documentation or marketing writing. That slight change enabled me to see where I needed to update my Web site and change the information presented, or at least how the information is presented.

Once you have researched, developed and written your mission statement, it’s done, right? Wrong. Just as your business and marketing plan is a living, dynamic document to be re-evaluated on a regular basis for a number of reasons, your mission statement needs to be evaluated and reviewed on a regular basis as well. With your business growth changes may occur, or you may need to be reminded of your focus, purpose, and mission on a regular basis in order to make decisions that are best for the business direction.

Sometimes small businesses are a work in progress. Remember that when you are a new entrepreneur, you don’t always know everything and as you receive feedback and input from your audience, peers and yourself, listen to that information to help develop your goals and focus, which eventually strengthens your mission statement as you improve your direction. Word of caution: Don’t allow others’ opinions to make your goals and mission statement seem like a moving target. The purpose of that mission statement is to communicate to them and others where you are planted in your direction and business focus as well as what is important to your business.

Susan McLain is proprietor of The Writing Way, a business that provides professional technical and marketing writing and graphic design services as well as marketing and advertising consultation and solutions to small and large businesses nationwide. You can contact her at 801.491.8641 or info@thewritingway.com Her Web site is: http://www.thewritingway.com

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Federal Grant for Small Business

If you are looking forward to open your own business, just take a look around. You are not alone but more and more people are starting to think of their own venture instead of making others richer everyday. No matter how much capital you can afford, Government grants are there to provide you with free money to start and expand your small business. Also you don’t have to worry for your social standing, the grants are meant to serve the minority group of people. In fact, you have to prove your social and economical challenges to the federal Government to be eligible for the grants like 8a certification, SBA 8A and other minority business certification.

8A Certification has now become the hottest topic amongst the new business entrepreneurs with a small amount of business capital and have little access to other funding agencies. In other words, the small business certification is only given to those who actually need it. However, now let’s talk about the other side of the program; how easy the program is to opt for. Of course, if it really was that easy, just about anyone would earn the funding even properly not knowing about the program.

First thing is, none of the federal small business support plans are meant for direct funding. A minority owned business certification makes your business eligible to get business support of just about any kind. There are a number of funding agencies ready to support business processes but need authentication or guarantor for the same. The 8 a certification speaks for your quality. Furthermore, almost all the prospective contractors prefer to work with an 8a business for assured return. In fact, there are uncountable benefits in offer with the minority certification to take your business a few steps ahead.

Contrary to popular belief, all the 8a small business processes are not entitled to get the federal contracts, they have to prove their business potential every time to win a bid. So, you must keep the fact in mind that only being 8a certified does not mean the end of competition. You have to prove your excellence and true potential at every move to win a success. You must sell something that worth the federal expense. So, it is advisable to refer to the most profitable products or services before starting your business. There are number of online companies and forum pages discussing about the matter with reference to the latest market trends. You just need to keep yourself updated to deal with the cut throat competition.

You will also find some useful guidebooks offering the resources, a comprehensive glossary and an extensive collection of forms and other important documents to the Appendix along with a free CD that comes with it. It is better not to go for the books just offering lists of the million of dollars of US federal grants available without a detail. The 8A certification guidance should teach you where to find these grants, how to apply for the certification, how to write a grant proposal and what to do forward. So, just get online and find the best SBA 8A guidance available there to help your way.

Author Bio:

Steven Brownn is a professional internet marketer. To know more about 8 a certification sba8a, 8a minority 8a certified or minority business certification visit 8acertification.net

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