Friday, December 7, 2012

Are you looking for a name for your business?

How important is a name to a business? The answer is very...it is very important for your business to have a good and meaningful name. The right name can help your business succeed, by having everyone in town talk about it. However, the wrong name can have the opposite effect and make your business fail. Your name should express what your business is about, the value of your products and services and your expertise in the industry.

Some people think that a business name should be abstract or a made-up word. Others think that a more conservative and direct name is more informative and helps customers know exactly what your business is about; and others also think people will easily forget a common non unique name.



Creating the perfect business name can be an overwhelming process but it is critical for the business. The name should convey what you want it to communicate to your clients. The name should emphasize the intention and purpose of your business. It should also make people curious of what you have to offer and attract them into your business.

Here is a tip. Be careful if the name of your business has South Carolina or any other city/state name on it. This can be meaningful for the local people, but what meaning will it have to people that want to do business with you in Colorado or New York? Keep this in mind.

Another tip, when choosing a name for your business pick one that will be meaningful and appealing to the type of clients you are targeting and not only to you. Try to avoid names that are too long or confusing.

Thursday, December 6, 2012

Are You Using Strategic Thinking or Tactical Thinking?

There are two types of thinking a small business owner uses; strategic and tactical thinking. The biggest difference between these two types of thinking is whether you look at the big picture or focus on the little things.


We all face different types of challenges in our businesses on a daily basis, some of which can be very easy to ignore until it’s too late. Some of the challenges we may face are dealing with a client, an employee, a supplier, etc.; but those big problems are often the result of our problems, not the problem itself.

We can focus too much on the issue that’s right in front of us, rather than proactively looking for the real root of that problem.

Start asking yourself different questions instead of blaming your clients or employees for things that go wrong: Are you the problem? How can you fix this? How can you make this client happy so they will come back? Or make this great employee happy so they’ll stay with us?

Start looking at things in a long-term, strategic way – you may find this broader perspective will save your company’s future.







Monday, December 3, 2012

When is it a good time to expand your workforce?

Employees are one of the most important assets to any company. However, it is also important to know how many of them you need that will make your business grow by making your revenues higher and your expenses lower.

When it comes to hiring, you need to have a mixture of planning, projecting and the knowhow. You do not want to miss out on hiring skilled employees, but you also want to make sure you have work to give new employees.

What if you already have a permanent workforce but with not enough work for them? Maybe hiring a contractor or a temporary worker will decrease your labor cost. Also, if you have really good employees working for you, take care of them because you may end up losing them to your competitors if not.

Take the opportunity to inform yourself with this article on three things that you need to check before hiring new employees.