What it Takes to Start and Run a Small Business

Over the years I have seen a lot of information on the life of a small business; I have seen various stats and information about starting a small business and what it takes to succeed.  This week I reached out to the Small Business Administration to get some answers to some of these questions.  I spoke to Ed Cadena the District Manager for the SBA in Las Vegas.  I asked Ed the following questions: Continue reading

The Most Valuable Commodity – Relationships

During a conference call today I was telling someone a true story that happened to me a few years ago that got me to thinking; first let me share that story with you.  I had a partner that I had brought into my company that was young, inexperienced, but I thought I saw something in him that could be molded into a great business partner, I was wrong.  I know, hard to believe, me wrong, but yep, it does happen from time to time.  So anyway, this new partner didn’t bring in any new business; all of the clients were pre-existing and had relationships with me personally.  So that being said, after a while this new partner of mine having learned how things worked, decided that his portion of the profits of the business that already existed prior to his arrival, well that wasn’t enough, so he started contacting the clients and offering them a much better, less expensive deal, one where he wouldn’t have to share the profits with anyone else.   Continue reading

Recover your failing business

While many start-ups do face challenges it can be a real nightmare to try and recover a failing business. Where once you got it all right, now it all seems to be going wrong. What can start as a little slide (in profits or number of customers) can become a frightening day-to-day reality of failure. An inspiring story from our side of the water can provide inspiration. Continue reading

Ill Take One Order of Prime Time Marketing with Everything On It.

I have been in business and a serial entrepreneur since 1988 officially, unofficially I started in 1979 moving lawns, pulling weeds, and washing cars… So suffice to say I’ve been at it for a while.  Even so it ceases to amaze me how very little some small business men and women actually know about business.   One of the biggest things that frosts my hide is the lack of understanding of what is needed for marketing.  I teach both graduate and post graduate marketing classes; from intro marketing to advanced marketing theories and there is one thing I do in all of those classes; I ask a very simple question.  “When creating a marketing plan, what is the first thing you need?”  I get a myriad of answers, I get things like:

  • Find a target customer
  • Segment your target
  • Assess your market
  • Understand your customers
  • Build a website
  • Create a blog
  • Perform public relations
  • Social Media
  • Get organized

Some good answers, but not the one I was looking for. Continue reading

Let’s Talk About Sex Baby!

Let’s talk about Sex baby, let’s talk about you and me…  Sounds like a hip hop song from the 90’s right?  Well that’s because it is, you can check it out here ,but talking about sex is not just a Salt N Pepa hit song, it’s also one of the golden rules of marketing and that rule is “Sex sells”… This has always been the case and always will be the case.    Let’s be honest when is the last time you saw a plain looking woman on a Victoria Secret commercial?  Never….  Because hot, almost naked women in revealing lingerie, that is what sells.  When is the last time you saw a man’s cologne commercial with a plain looking nerd?  Never… Because women want to see the mysterious dark haired hot dude with the five o’clock shadow…  SEX SELLS… Continue reading