Marketing and Advertising for Small Business

Marketing and advertising are critical areas for every business owner to embrace to help their business thrive. As the owner you may not be conducting the marketing but you should have a firm understanding. Our brief library contains content on all of the subjects below. Advertising Advertising is part of an overall Marketing Plan. It’s the way you reach your target potential customers, at the proper time, in the proper place. It is the way to get the word out that you are in business … 
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Four Ways to Market Your Website

In this post we will identify for the business owner the only four techniques that can be used to draw potential users to the web site. This is typically referred to as “web site marketing.” Note that this is commonly, but mistakenly, called “search engine optimization” or SEO. We will not cover the techniques for using your web site to market your product/services; covering such issues as presenting your product/service; establishing a market basket, dealing with available inventory, estimating shipping cost and time, downloading product … 
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So You Want to Own Your Own Business

Last Wednesday over 20 people attended the first workshop presented by the SBA and SCORE for people interested in starting a business. Mr. Richard Dumaine from SCORE helped the attendees do a skill assessment to determine if owning a business was right for them. The audience seemed most interested as some common myths about being a business owner were reviewed and dispelled. Mrs. Nicole Pickard first presented an overview of what the Small Business Administration’s role is and how it helps small business entrepreneurs. She … 
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Patents for Small Businesses

This Post is a general overview of patents. Please check the U.S. Patent Office website, uspto.gov, for the most up to date information. Caution: Note for Small Business Owner: In general, patents are seldom obtained by small businesses due to the (detailed herein) overall cost of from $100,000 to $150,000. Legal fees alone can cost from $75,000 to $100,000. An issued patent is of value when it is: (1) sold; (2) scares a competitor from using the patented concept or (3) when the patent is … 
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Your Business Attorney

Developing a relationship with an attorney for your business as you begin to launch your business and/or before you need their services can make the process of finding an attorney easier and less stressful. What legal services can an attorney provide your business? Select and implement your legal form of business organization LLC: understand the benefits and limitations of this form of legal protection Multiple member LLC or partnership: draft operating and buy-sell agreements between partners Sub-S or schedule-C corporation: draft corporation buy-laws, buy-sell agreement … 
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Finance Your Business

There are several potential sources of funds for start-up businesses. Among these sources are loans, which could include: funds from the owner’s savings (treated as a loan); a second mortgage loan; charging against credit cards; loans from friends or relatives; bank business loans; credit union loans; and, loans from federal/state /local government programs. There are many sources of microloans, which are generally loans of up to $30,000. Historically, however, the seed money for most businesses has come from the owner’s personal savings. On average, less … 
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How To Price My Products or Services?

What Price Should I Be Charging? Setting the proper prices for your products and/or services is a critical element to determining the success of your business. The right price will help you to be competitive in the market place as well as profitable. The four briefs referenced below will provide the detailed information you will need to establish your pricing model. PRICING PROCEDURES FOR RETAIL When your company purchases and sells a product, the revenues derived from sales of the product will directly affect the … 
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Crowdfunding 101 Introduction

This post is intended to provide the business owner an overview of the key elements of crowdfunding [CF]. Crowdfunding is getting a “crowd of people” to donate money, for a specific cause or project, in exchange for various rewards/returns, using a specific web site based tool [called a platform]. The word crowdfunding is an umbrella term that includes 4 different funding relationships between individuals and organizations, connected through an internet based platform. Four (4) Types of Crowdfunding REWARD Based Crowdfunding: Investors give money and receive a … 
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Inventory Accounting and Control

Businesses that buy merchandise for resale or who use material to produce a product must account for that material before it is delivered to the customer. All of this physical material, including supplies that are part of the final product, is classified as: Merchandise – goods acquired by wholesalers or retailers for resale including goods held for sale in display rooms or out on consignment Raw Material – items that will be a component of a produced good Work-In-Process – the accumulated costs of partially … 
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Creating and Distributing a News Release

The news release is the standard format to use when sending communications to the media. The following provides general information about constructing a news release as well as some good pointers about content. Please refer to Brief 06.07 Writing for the Media brief for additional information. FOR IMMEDIATE RELEASE: CONTACT: (Make sure the person listed is readily available to answer media contacts) Name: Company: Phone: Website URL: Headline Centered, Bold — use active verbs to tell what the release is about Keep it short — … 
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