Marketing
Adjusting Your Marketing Focus
When you started your business, you entered the marketplace ready to solve a specific problem. It’s the whole point of any business, really — to help people by providing a solution to a someone’s problem. Unfortunately, businesses sometimes miss the mark and end up trying to sell their products or services to the wrong people.…
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Consultant’s Corner: Business Name and Domain Name Change
Question: What is the best way to transition from our existing domain/company name to a new one? There are several things to consider when transitioning from one company and domain name to another. Business Name Change A business that changes its name can notify the IRS of the name change by following the procedures described…
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4 Essential Elements of a Business Plan
A well thought out business plan is critical to the success of any new venture. The business plan not only identifies the goals of your business, but it also will outline the plans to execute those goals. It tells you both where you want to go as well as how you are planning to get…
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Enlist Vendors for Marketing Help
As a small business owner, you’re always looking for an edge. When it comes to marketing, you look for efficiency and effectiveness—whatever will bring you the highest return on investment. There’s one area where many businesses don’t think to look, though: vendors. Getting marketing help from your vendors can dramatically help your business and bring…
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Don’t Make the Wrong Partnership: Assume Nothing
How do you know whether someone is going to be a good partner or not? It’s not enough to go by someone’s prestige—there are plenty of examples of prominent figures who turned out to be bad partners. It’s not enough to be a nice guy. So what do you look for? I believe in the…
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Consultant’s Corner: Planning a Price Increase
Question: I’d like to re-evaluate my pricing schedule, but I am not sure how much to increase my prices. Where can I get a start on understanding the pricing game? Competitive prices are critical in order to maintain customers and market share; however, you still need to maintain adequate profit margins and profitability. We do…
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Campbell’s Soup Trademarks Chunky: Why It’s A Great Move For The Brand
After years of association, the word “chunky” is now a trademark of the Campbell Soup Company. Campbell’s filed a trademark application to trademark ‘chunky’ in 2018 with the United States Patent and Trademark Office (USPTO). The USPTO approved the request, giving Campbell’s “exclusive right to use the mark on, or in connection with, the goods/services…
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Consultant’s Corner: Cold Calling Techniques
Question: What is business etiquette concerning cold calling and how often to follow-up with a prospect if they do not give you a time? How should you toe the line between checking in and being annoying? Cold calling can involve phone calls to set appointments or cold call visits to prospects to have a sales…
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Consultant’s Corner: How Much Should You Budget for Marketing?
Q: How much should I budget for my marketing costs? General Marketing Expense Ratios For established businesses, the general guideline for a marketing budget is a percentage of sales. However, for a startup business with no sales history, the considerations are: What marketing methods are identified in a business plan? What marketing methods will be…
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Consultant’s Corner: 15 Reasons to Write a Business Plan
Question: I have been in business for a year. Is it worth my while to prepare a business plan since I am not borrowing money? The two basic purposes of a business plan are to raise funding and effectively plan new business ventures. Below is a list of 15 common reasons, including the first two…
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