Posts by Chris Barnes
How Big is the Market?
One of the key questions that any investor or lender is going to ask you is how big your market is. Market size is an important factor in the long-term success of a business. The main issue at stake is how many potential customers are out there who might be interested in buying your product or service.…
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Startup? Don’t Forget These 4 Areas
The final phase of starting a new business involves several administrative matters. With the business entity formed and registered, the physical facility ready, the new business owner must address outside professional support: banking, insurances, accounting and tax systems, and staffing. Some of these administrative elements significantly impact the financial health and management efficiency of the…
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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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Keeping Customers After Losing a Sales Rep
When you run a business, things are going to change. It’s inevitable. Your products and services, technology, and even your marketing strategies and personnel will all change over time. But one of the biggest challenges you will face in the midst of these evolutions is finding ways to retain customers when you lose a sales…
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Building the Right Team
Achieving success as a start-up is never easy. Over 50% of startups fail, for a long list of reasons. But at the core of every successful start-up you will find one uniting factor: great people. Hiring the right employees does not only help mitigate the risk of having to replace them down the road. It…
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The Reasonable Person Principle
In any group of people, whether it is family members, close friends, or business colleagues, misunderstandings and disagreements are sure to occur. Handling these situations can be very delicate, balancing so many people in such tight quarters. A good solution that contributes toward an open corporate culture is the Reasonable Person Principle. What is the…
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The 6 C’s of Relevant Benefits
No matter what business you’re in, the way to succeed and get more customers is by providing great value. Consumers have to look at your product or service and decide that what you’re offering is worth paying you for it. If something doesn’t provide value, then customers won’t waste money on it. Sure, you might…
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5 Questions to Ask When Choosing a Location for Your Business
When deciding where to locate your startup, there are a number of factors to consider. Does it make sense to move your tech company to the Silicon Valley where you have easy access to freelancers, or should you file for licensing in Delaware where laws and taxes are very business-friendly? With no clear right or…
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Handling Competition: Do’s and Don’ts
Almost every small business owner has to deal with competition, no matter what industry you’re in. Of course, like all things, there is a right way and a wrong way to deal with it, though. Knowing how to handle competition is vital to the small business owner, especially when a new kid comes to the…
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How to Negotiate a Personal Guarantee
Personal Guarantees are a part of doing business. You need a loan, you seek a loan, and the lender requires a guarantor to sign the loan agreement. There are no ways around this. However, there are ways to negotiate a deal so that your personal assets are not entirely at risk of being liquidated in the…
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