Operating a small business presents entrepreneurs with a continuing series of problems that need to be solved--and, usually, the smaller the business, the bigger the problems. Small Business Solutions focuses on 13 crises that crop up again and again in most small businesses, and details how entrepreneurs have identified and successfully solved them. As a longtime consultant to start-up businesses, Robert Hisrich has seen these solutions work in scores of small businesses, both in the United States and abroad. He divides Small Business Solutions into three categories--marketing, finance, and overall management--and provides market-proven solutions to problem areas in each:Sales & Marketing--Turning sales into profits, focusing a business Finance--Raising capital, monitoring and managing cash flow, valuing a business Management--Choosing the right partner, changing style as a business grows, and more
This Element is an excerpt from The Truth About Starting a Business (9780137144501), by Bruce R. Barringer. Available in print and digital formats.
The three realities you must understand to create a winning marketing plan.
Marketing is one area where hard work and ingenuity can make up for a lack of funds. It’s also an area where money can be easily wasted if a business doesn’t have a well-thought-out marketing plan. There are three things to be mindful of as you approach the topic of marketing and promotions in a new business. First, a business’s marketing efforts should be consistent with its overall mission and values. For example….