Innovation is a big word. It probably conjures up ideas about expansive R&D departments at corporate powerhouses like Apple and Google, but the truth is that innovation is imperative to businesses of all sizes in the 21st Century. The terms “innovation” and “small business” are no longer independent of each other.
Topics: Small Business, Business, Growing a Business
Established by the U.S. Small Business Administration, October marks National Women’s Small Business Month and while the glass ceiling might still be prevalent, women are steadily coming toward the forefront of small business ownership.
Topics: Small Business, Business, Leadership, Growing a Business, Leaders
In 2013, President Obama raised minimum wage to $9/hour, as previous wages were so low that families were unable to afford living costs. Today, states are raising wages even higher, with California being the first state to adopt the legislation that will gradually raise minimum wage to $15/hour. This increase is a positive one for workers, but what does this mean for small business owners like you? Well, it could mean that jobs might need to be cut if employers are expected to pay higher rates. We could also see an increase in prices (up to 4.3%) as well, as employers will need to make more money to pay a higher wage.
Topics: Small Business, Business, Retail, Management, Growing a Business
Topics: Small Business, Business Profiles, Food
As an architect, contractor or engineer, you’re expected to be an expert in your field who delivers quality work. However, your educational pursuits and years of on-the-job experience working for someone else probably didn’t prepare you to own and operate your small business. You are a pro in CAD software, but a novice when it comes to accounting programs.
The truth is running a business is never as easy as costs versus profits. To help your small business grow, you’ll need to brush up your small business management knowledge.
Topics: Professional Development, Small Business, Business, Management
The Holidays are such an important time of year for small businesses. For many, especially in retail, the Holidays may make or break the entire financial year. Craft fairs and holiday markets have become popular among both consumers and small businesses during this time. But are businesses doing all they can to maximize their retail sales from holiday markets?
Topics: Professional Development, Small Business, Retail, HR & Organizational Effectiveness, Leadership, Management, Starting a Business, Growing a Business
Owning your own retail business can be an exciting, albeit challenging, undertaking. When you look around at some of the larger brands you can see how shifts in consumer behavior and brand loyalty has changed the success and trajectory of a once rather predictable industry. For instance, Wal-Mart announced earlier this year that they would close 269 locations in 2016, accounting for roughly three percent of their stores.
Topics: Professional Development, Small Business, Retail, HR & Organizational Effectiveness, Leadership, Management, Starting a Business, Growing a Business
There’s something exciting about getting your business to the point of being able to bring on new employees. Your business is growing and you’re successful enough to be able to hire people to share some of the load.
On the other hand, there’s something tricky about hiring the right person for the job. As a manager or business owner, there’s a lot on the line in terms workplace culture and customer service quality, not to mention the time and resources it takes to train them. Hiring the wrong person and having them leave is something all companies seek to avoid, but it does happen.
Topics: Professional Development, Small Business, HR & Organizational Effectiveness, Leadership, Management, Starting a Business, Growing a Business
Office politics exist in every workplace setting and are difficult to avoid. Even though you don’t need to participate in office politics to survive, putting your head in the sand and “not getting involved” isn’t practical either — if you aren’t careful, you can be embroiled in a problem you didn’t see coming.
The following top 10 best practices for navigating workplace politics and personalities should help you stay ahead of the game and keep you focused on why you are there — to do your job.
Topics: Professional Development, Small Business, Communications, Leadership, Management
It’s a reality for most business owners, but no matter how successful you think you are, there’s always more to learn. Whether it’s marketing, sales, operations, or finance, you can’t know everything and there’s always gaps to fill. But how do you know when it’s time to invest in additional training and education? Will it be worth your time? And what areas should you be focused on?
Here we’ll discuss the importance of business education and what questions you need to ask yourself to determine if it’s time for you to invest in additional training.
Topics: Professional Development, Small Business, Starting a Business, Growing a Business