The threat of new entrants is a constant and consistent one. You have the advantage in that your business is established, but that's no guarantee that a serious threat will not rise up to compete with you. In fact, it's pretty much assured that eventually...
These are not mutually exclusive propositions. To begin with, you should always be learning. Business continues to evolve and you need to know what direction it’s going in and what direction you want to go in to parallel with it while adding your own twist...
Our answer might seem a little incomplete, but we do not know what type of product you are trying to present to children or their age group. Children are among the most highly sought-after marketing demographics in the country. Part of this answer depends on...
Your biggest consideration is going to be local zoning laws. New Jersey is famous (or possibly infamous) for its stringent, varied, and unpredictable zoning laws. As late as last month a company in Hammonton was forced to scrap plans for a solar array on their...
When you say “more customers,” that implies that you have some to begin with. If that's the case, then you have the seeds of new customers already. Start giving referral bonuses to your current customers if they bring new people to your business. Let them...
Actually, now is a great time for entrepreneurship for exactly the reason you said. The bigger companies are floundering, so there is more of an opportunity to get into markets that were previously dominated by them. Part of what is changing in the markets is...
This largely depends on your specific situation. First of all, is this vehicle an integral part of your business (like a shipping business), or is it a way to make the running of your business more convenient (as in a company car for you or...
It really depends on the business, but "customer service" should theoretically be everything that your company is about and represents. If you can provide for your customer in the best way you know how consistently within your own current structure, then you don't need somebody...
First of all, consider your standards. Are they too low? If so, your employees might be getting bored. Are they too high? They might be getting too stressed. Remember that each one is a unique source of knowledge and skill. Make sure your employees have...
For one thing, keep the compensation simple. Percentages of order values work well in cases like this. Decide if you're doing straight commission or a base plus commission. Try to keep the program incentive based on performance and long term contractual agreements. If you speak...