For over 25 years, I’ve helped small business owners start, run and grow their companies. I’ve worked with all sizes of businesses: from one-person micro-businesses to companies with hundreds of millions in revenue. I’ve consulted with companies in all kinds of industries. Some serve consumers; some served other businesses. There were start-ups and long-established entities. I’m a small business owner myself as well.
competing for every customer. Don’t just be a marketing consultant: be a marketing consultant for a certain industry. Don’t be a general store — focus on a specific type of product or customer. Small businesses just don’t have the resources of time or money to be a generalist.
Go small to grow big. What’s the one sure way to fail in small business? Try to sell to everyone. A key to small business success is carving out a nicheCEO Organtio
You can’t reach a goal you haven’t set. Entrepreneurs like to get right to work, but taking the time to develop a business plan is crucial for success and survival. I’m not talking about writing out a 50-page document. It’s the planning, not the plan that matters. Developing a business plan forces you to think through the fundamentals of your company: your market, competition, industry and your strategic position.
Build one business at a time. Entrepreneurs see opportunities to grow in many directions. I’ve seen business plans that combine many businesses in one — a combination laundromat, bar, babysitting service and bookstore, for instance. Most of us aren’t that scattered, but it’s still important to concentrate on only one new direction — product or service line, target market, distribution channel