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    When people think of business ownership, they tend to think of the people who are running those businesses as left-brainers—highly ordered and analytical professionals who think like machines. Although these traits are valuable to a business owner, the ones who are the most successful mix that pragmatism with the vision and creativity of a right-brainer. Like memorizing a piece of sheet music without playing it, a small business can never grow to its full potential without exploring new ideas.   Creativity can be learned. Creativity can be used in every field, every industry, and every walk of life, and fortunately, you don’t have to be a painter to possess it. Everyone has the ability to be creative; one just has to tap into that side of themselves and hone it like a skill so that it can be utilized. It’s kind of like when you learn how to …

    Creating a space for your patrons and filling it with product is not enough to establish your business as the premium choice among your competitors. To do this, you need industry-standard facilities and quality equipment. Why a business should have the best equipment is fairly self-explanatory, but these are a few reasons why it will set you apart.   It’s more of a selling point than you think. This is one of those things that you don’t think people notice, but they do. If you have various local competitors who are using cheaper equipment, while yours is top-of-the-line (or at least very good quality), then this may be enough to cause customers to favor your business over the others. It’s a subtle difference, but one that people take notice of and see as a sign that you have a better product.   Less spending on repairs or replacements. …

    The following are some facts and stats that may surprise you, and even if not, they are valuable pieces of information that will give entrepreneurs a better understanding of how to approach running and organizing their business.   What is considered a “small business”? “The SBA Office of Advocacy defines a small business for research purposes as an independent business having fewer than 500 employees.” (U.S. Small Business Administration)   Funding & Finance “82% of business failures are due to poor cash management.” (U.S. Bank) “Roughly 7% of all startup capital is derived from credit cards.” (SBA) “Women are 30% more likely than males to start businesses without seeking financing, and only half as likely to obtain business loans from banks.” (SBA)   Direct Mail Marketing “A total of more than 150 million direct mail promotions were sent out in 2015. 42% of recipients read or scanned the …

    Your top priority as a business owner is fattening up that revenue stream, but there are a variety of different elements that contribute to it. What immediately comes to mind are things like product quality, good customer service, and marketing strategy. What about the subtle aspects of how a customer relates to and experiences your business? Even though it may not be at the top of your list, fine-tuning the overall customer experience can be just as important as the aforementioned core concerns. The following are a few simple steps you can use to not only satisfy your customers, but to thoroughly impress them.   Everything should be easy to find. For web designers, this is an essential part of their work because all the pages and content of a website have to be organized so that everything is exactly where the visitor expects it to be. It’s …

    Small businesses usually have legal counsel on deck, to protect themselves in the event of a lawsuit, but it’s far better to avoid getting sued in the first place. It’s unfortunate that entrepreneurs who go to great lengths to take care of their employees, as well as their customers, sometimes find themselves caught up in lawsuits unnecessarily because someone found a crack in their armor.. Even though you have every intention of running a clean, productive business, you still have to protect yourself so that no one can take legal advantage of an unforeseen mistake or oversight.   1. Avoid harassment & discrimination like The Plague. So here’s the thing with workplace harassment: It is most often perpetrated by supervisors and managers, towards employees of whom they are in charge (though it goes in the other direction, as well); and those supervisors usually don’t realize that what they’re …

    Is great customer service worth the cost? How much should you pay yourself? Do you need a building? Take it or leave it, you’ll find here answers to these questions and more; the universal questions of startup and small business owners.   How much money should I have available when I start a business? As much as possible. Many entrepreneurs and business gurus will tell you that you should have enough money to sustain your business for a year without profit. If you want to be on the safe side, try 2 or 3 years worth of secured working capital. That may be out of the question, which is why many business owners just have to pray that revenue overwhelms cost sooner, rather than later.   Should I bootstrap my business? If you have the means, you’re ultimately better off bootstrapping because this means you won’t be indebted …

    These are exceptional examples that give us a standard which anyone who works in customer service can strive to achieve. Though we may not be able to make such extraordinary gestures towards our customers every day, of course, these examples show that great customer service can have a powerful effect.   Banker Gives Away $400 of Her Own Money This is an old story. On a Friday like any other, a man was scrambling to get to his bank on time so that he could withdraw money that he would need imminently. His situation was dire because he had just learned that his mother had died, and he needed to get on a plane as soon as possible. As the bank was about to close, the branch manager showed remarkable generosity out of concern for the man’s terrible circumstances. She withdrew $400 from the ATM out of her …