Small Business Marketing Advice – Gold Or Garbage?


There is no shortage of people who are churning out advice on how to do small business marketing or which small business marketing ideas will improve your business. Before you begin to utilize or implement any of their marketing tips or suggestions you need to ask yourself some important questions. You will want to use the tried and true who, where, when, why, what and how.

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Who is giving you this advice? Have they ever owned a small business and did they succeed with the same small business marketing strategies? Where have they applied it? Did they use their ideas or strategies for online marketing or offline marketing? When did they last use these marketing strategies? Why do they know or think that these specific marketing strategies or ideas will pay off? Why are they sharing these ideas with you? What do they have to gain from sharing or from you using their ideas on marketing?

Business Improvement – The Power of Hindsight – Plan to Change Now For Future Benefit

Business Improvement – Protect and Grow your Business


Business people often say, “I am going through a tough time right now, I need more business”. If they need improved results now then they probably required urgent change or improvement some time ago. Improved results such as sales growth will very often follow if you have implemented the right changes or taken some action. However, it is rare for success to be instant. Businesses often require long lead times before they see clear results from change or action. diverse_business_man_and_woman_40435468


On the basis that businesses cannot always change the current position immediately, they need to plan ahead to avoid poor performance or to mitigate negative market impact and so on. Avoid the typical business response to immediate problems which is often to re organize (too late), do something different (for the sake of it), focus (on the wrong things), blame people (for poor performance) and so on. Business leaders need to have a Change Plan.

A living example:

A friend/client/supplier of mine (yes, all three) worked extremely hard to keep her existing business afloat in tough circumstances. It was obvious to her that she had limited cash flow, high overheads, no view of a growing order book, a clear view of her growing overdraft and a seemingly endless downward spiral in a faltering economy.

Use the Power of hindsight:

My friend ran her business according to what she saw as the constant elements; costs, sales order book, activities, required capital outlay, salaries, taxes etc. Then she expected much of the same in the next year -plus a bit. Nothing wrong with this in principle- it’s what most business owners do. What could she have done differently using the power of hindsight?

1. She could have added a factor of ‘unknown’ into all of her figures, say + and – 5%. This is not just growth but an ‘extra over’ factor against all of her figures. Then she could have challenged herself how she would cope with the various swings. What could she do differently to avoid the peaks and troughs of such a change in the coming year? She did some of this but perhaps did not go far enough.

2. Then, she would have needed to plan her actions to cope with these swings. What would she do? How would she prioritise her time/efforts? How would she measure if the swings were going to affect her? When would she need to change the way she does things? In the majority of cases she could have implemented modest changes there and then which would have mitigated the swings (if they ever happened).

3. Then she could have imagined a big swing – one which could put you out of business. Such as an unprecedented tax rise, a major slump in sales, her largest client going out of business, a major new player in her market. You get the picture. What might this calamity be and what she might do about it?

4. Having thought about a business threatening change, she could have looked at insulating her business from it as far as would be practicable. She can look at her wider options such as, closing her business down, changing her business radically, doing other things, finding ways to spread her risk. At least she could have been ready for the consequences and saved herself a lot of heartache and self-doubt…and would have known when to act.

5. My friend did not have a ‘plan B’..I would recommend a ‘C’ and ‘D’ too. Look to the horizon, see what might come and be ready for it.

Five Business Tips to Increase Profits and Stops Wasteful Spending

The fact of the matter is making financial improvements to improve your overall business is a conscious choice. A business owner needs to balance the operational side of the business all while finding the right combination of time and effort to make sure the finances are in order of business that will make the biggest impact.womanworkingatdeskgetty

As a business owner, did you know there is a golden rule better know? That rule states that no matter how much product you sell, if you are not collecting any money, you won’t stay in business for very long. While it seems a pretty simple rule to follow, many business owners get so wrapped up in the everyday operations like selling your products and services that you forget to take the time to manage your cash flow.

Hopefully, these five tips can help you focus cutting wasteful spending:

  • Improve your cash flow – You’ll quickly improve your cash flow just by simple doing a better job of cash collections and delaying cash payouts. If you still need some help, try factoring your receivables. This is actually pretty common of a practice in the fashion industry. This involves borrowing money against the receivables or selling it outright. You can only get away with this by selling to customers with good credit.
  • Save anywhere you can – Another way of saying this is to try and reduce costs of the business wherever it is possible. One way to do this is by saving on costs like rent and equipment in order to spend on things that can make you money instead such as inventory or advertising. Sure a fancy office with state-of-the art technology inside of it looks fantastic but is it cost efficient for your needs? Try other less expensive ways instead.
  • Collections – Never wait till a bill to be past due, to call a customer. I have found that calling the day before the payment is due to be extremely effective in improving collections. Frame the call so that it looks innocent enough such as asking if they received their invoice and that it is scheduled for payment. If they haven’t received it yet or at least tell you that, inform them that you can fax it to them immediately so there are no problems. Lastly don’t forget to deposit daily. I like to take advantage of short-term interest on my deposits.
  • Shop banks – Be aware that banks and lenders are constantly adding fees. They do this to recover their costs. They are a business too after all. Carefully go over your accounts and ask for bids on your banking business probably every three years. Treat them like any other of your suppliers. Your business will have grown by then and you may require a new type of banking relationship.
  • Dump the phone and use email – I know you need to use the phone in the world of business but I’ll be honest with you. I hate it. I would much rather prefer email rather than playing phone tag. Your company’s e-address needs to be on your business cards, invoices, shipping papers, advertising and anything else that can reach a potential customer. The email addresses better be relevant and business professional as well.