Small Business Marketing FAQs

What is a small business? The government has introduced certain criteria including the number of employees, annual receipts, affiliates and other applicable factors to identify a small business. It can be quickly determined by using SBA’s NAICS (North American Industry Classification System) Lookup. Enter the business description; NAICS will locate the business type in the resulting table.

What is marketing? Marketing refers to the commercial processes involved in promoting, selling and distributing a product or service.

What does marketing involve? Marketing is an organizing tool. The four basic aspects of marketing include the four Ps such as product, price, promote and provide. It involves market research, formulating strategy and selling based on two important principles. The first principle states that all company policies and activities should be directed toward satisfying customer needs. The second is that profitable sales volume is more important than maximum sales volume.

What is marketing strategy? Marketing strategy is the summary of the marketing goals. It is the formulation of the methods used to achieve the marketing objective.

What are the major constraints for small business marketing? The major constraints for small business marketing include budget limitations, lack of adequate resources and tough competition.

What are the important collateral marketing materials? Collateral marketing materials consist of printed marketing materials. They include brochures, business cards and news letters.

What is the importance of advertising in small business marketing? Advertising plays an important role in small business marketing. It helps to influence people with attractive marketing materials such as banners, sign boards, magazine and directory ads as well as trade booth displays.

Complex Business Solutions and Simple Applications

Programming business solutions into your company from scratch is a very long and arduous process. Even with a competent IT department, the actual development of an application is not easy to come up with. The hours of employee time that it takes to create the technically challenging programs can be exhaustive. This, obviously, is not very cost effective and it detracts from the work that is normally done by the IT staff.

Running software programs that are specifically designed to take those difficult situations and turn them into easy, point and click solutions is a much more cost effective idea. These are programs that have already been exhaustively created, tested, reworked, and made to be applicable for any business. Yet, there are many business owners that are unsure of whether or not this is a fast and effective way to solve their issues.

Technology in business has become so commonplace that most of the time there is little understanding of what actually goes into its creation. The companies that are able to produce this software and run a reliable service for various companies have invested a great deal of time and money into the process. This benefits your business because that is time and money that you do not have to apply while gaining the easy solution that you require.

How can one software program offer solutions to so many different issues and still be effective? This is what cloud computing is all about. The original program is designed to solve a specific problem and the additional issues are resolved through the cloud. This means that you can take on the additional applications that are required for your business to run smoothly and effectively. Because it is run on the cloud concept, you are not required to take on anything that you don’t find beneficial. Applications that are useless should not have to be required in a package purchase.

For small to medium businesses, the idea of creating this sort of wide spread problem solving software is overwhelming. There are many different software programs that offer a wide range of applications. The time devoted to research and software comparison is hardly a fraction of the time that would be devoted to the creation of such software from scratch.

As technology gains its place in the market and businesses come to rely on technological advancement more every day, the continued development of additional simple to integrate applications will help to continue to improve the outlook for small to medium businesses everywhere. The growth of such development will only serve your company more as you will continue to have easy solutions to those complicated problems.

Leadership Tips – Small Business Requires Faster Decisions

Introduction

This leadership tip has something in it for managers everywhere, but it’s particularly targeted at those of you with large company backgrounds who have made career moves to smaller businesses that you own and/or manage.

My background is primarily in large scale management of IT organizations. The companies where I’ve worked were places where changing a process or behavior took some time. I always thought I was quicker than most, and action oriented. As a small business owner, I found I had to be much quicker.

I’ll offer this leadership tip in the form of a story. It’s a story of how taking your eye of the ball can cost you money, and worse than that can cost you customers.

My First Small Business

I opened a small personal services business. It was located about an hour from my home office, and with all my other commitments I knew how important hiring the right manager would be for this shop. It took a few tries, but I found one with a good background and references, and she seemed to quickly develop loyalty to the business and to me.

For the first six months we grew slowly but steadily. We were behind plan in terms of customers and revenue, but the trend was up. There were a few staff issues, but overall turnover was okay. I decided to invest a little more in marketing to try and get more new faces in the door.

Over the next three months, customer counts were mostly flat, and average sale was actually down a little. Concerned, I visited the shop a few times more than usual. The people were not as upbeat as they had been. When asked about that, they attributed their moods to less business and less enjoyment of the job. I wondered about seasonality, the economy, and whether I needed even more marketing investment.

Want to know what was really going on? My trusted manager had some personal problems that I had not been aware of before, and was exhibiting some totally unacceptable behaviors:

  • Criticizing staff in front of customers
  • Intimidating staff, letting them know they were at risk of being fired, and telling them I was out to get them.
  • Stealing money by voiding transactions and other means

The Damages

I’m still figuring out how much money all this cost me, but the money is only today’s problem. The customers I’ve lost are a more serious longer term issue, because many of them won’t be coming back.

When I figured out what was going on, I moved quickly to fire the manager. There were only two problems:

  1. I was too late, and there had been several months of damage done;
  2. There was collateral damage. I had to fire two other employees who had adopted the attitude and behaviors of the manager.

Today, I’m working on putting together data to see if I can assemble a case for prosecuting the employees and the manager. An even higher priority, though, is the work I’m doing to recruit and orient new staff and develop a recovery plan for our customer service reputation.
This leadership tip was a painful lesson that I hope never to repeat.

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