Four Biggest Myths about Websites

This brief explores the pros and cons of the Four biggest myths held by business owners about web sites.  I can’t do a web site myself. Yes you can by using a “site builder kit” like Wix.com Not if you want a site to perform custom functions. Kit sites either simply can’t be or are very poorly optimized for search engines. Web sites are expensive to develop. No they are not. They cost from $0 to $100 per month including development, hosting, and monthly maintenance. … 
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Selling a Business

Businesses are sold for all sorts of reasons. If you’re considering the sale of your business, ask yourself the following questions: What do you want for yourself, and for your employees, as conditions of the sale? Are there any family members that might be interested in continuing the business? Is there the possibility of an employee buyout? Do you want to work for the company after the sale? Are you ready to retire, or is there something else that you would like to do? Could … 
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Finance Your Business 2: Investors

There are four main types of investors for startup businesses: yourself, friends and family, angel investors, and venture capitalists. “Crowdfunding” is a way to cast a wider net for angel investors, and is described in Brief 05.10. Within these categories, an investor may be accredited or unaccredited. To be accredited, an investor must meet certain criteria on net worth and income. At this writing the requirements are on the order of $1m net worth and/or annual income of $200k. There’s an exemption from strict security … 
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Financial Issues for Small Business Roundup

Having a firm understanding of the various financial issues your business faces can be the difference between thriving and just surviving. This roundup #2 of Financial Issues briefs will answer many of your questions. Our previous post can be read here. Key Financial Ratios Financial ratios are designed to measure aspects of financial performance. These ratios can be meaningful used alone, but are generally more useful when compared to other companies in the same or similar industries. These comparisons will identify variations from the norm … 
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The Elevator Pitch

What is an elevator pitch? An elevator pitch is an overview of your business that can be conveyed within 30 seconds (30-80 words) during the ride of an elevator. It should leave your listener wanting to know more. Elevator pitches can be written for products, people or businesses. Why would you want an elevator pitch? There are a variety of advantages in defining your elevator pitch or mission of your small business and much of your marketing efforts will be based around this. Without one … 
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Leasing Versus Buying Equipment

Should you lease equipment for your factory, warehouse, store or office, or should you buy it – – assuming Your capital is limited and you must borrow or lease to finance the purchase? Factors Favoring Leasing Leasing eliminates the immediate need for sizable amounts of cash up front. There is no down payment, other than one or two months of prepaid rent. Lease charges are spread over a comparatively long period of time; individual payments are usually lower than service on debt. Restrictions placed on … 
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Sales Agreements for Service Providers

Whenever a supplier of services sells to its customers it is vital that a written agreement be established spelling out the specific services to be provided, when, at what price and other pertinent terms. This written document takes the form of a Sales Agreement Contract. In many instances this Sales Agreement is the supplier’s signed proposal with a place for the buyer to sign his acceptance of the proposal. The key elements of the Sales Proposal are: Supplier’s company logo Contact information including company name, … 
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Partnership and LLC Operating Agreements

Checklist of Points to be Considered in Partnership and LLC Operating Agreements: A partnership (a dual member Limited Liability Company (LLC) is similar to a traditional partnership) is a person or an association of persons with the purpose of forming and operating a business enterprise. Like corporate by-laws, the central legal document for a partnership, a Partnership Agreement, or an LLC Members’ Operating Agreement, governs the workings of the business, and provides a clear outline of the rights and responsibilities of all of the Partners … 
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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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