Many small businesses start with a product idea. It could be a practical product you’ve taken months, or possibly years to develop. Perhaps you have spotted a gap in the market and now have a top-of-the-range product for the food industry that you know is needed. If so, it’s time to get out there and starting convincing restaurant owners that your product is just the thing for their business.
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We are spoilt by choice. The truth is, we probably don’t need seven different coffee brands to pick from, especially when they have at least three different products each. However, if we think we have it tough, think about the coffee companies.
Growth is one of the key watchwords for any SME. While a state of stasis is preferable to decline and loss, it’s growth that provides the reassurance that you’re making the right decisions. But what do you do if part of your growth strategy includes moving into the markets overseas? How can you give yourself the best possible chance of success?
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All business owners look for ways to grow their business quickly. It’s dangerous when you become too comfortable, it means that your business can get stagnant. Always strive for more, challenge yourself and take risks to reap the rewards. Below are seven tips from David Simmons, a financial analyst from Ebroker, to help you grow your business quickly.
If you need some marketing inspiration, there’s no better role model than Apple. The marketing geniuses at Apple know that the secret to super-effective ads lies first and foremost in their simplicity.
So you have invested time, money and energy into creating the perfect product that you think can be flying off shelves. Now you have to get your product on the shelves to get your business started. A small business that mainly produces and develops products needs a platform to sell them on. You may consider selling your products online, whether it’s on your own website or other sites such as Etsy or Amazon. However, if you want to opt for the more traditional route, you will need to approach high street retailers to get that satisfaction of seeing your product on a store shelf.
One of the most controversial topics regarding the success in the business world is the one of the so-called ‘gut feeling’. While it is true that a lot of people made a fortune following their intuition, there is a lot of debate on what this gut-feeling really is. The closest thing to an explanation would be to say that the gut-feeling is an ability to match a current situation with a similar successful or unsuccessful scenario from your past. In other words, instead of relying on luck or some mystical force, you are subconsciously analysing the current situation and making decisions based on it.
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