How to Grow (or Not Grow) Your Small Business - dummies. By Steven D.
Peterson, Peter E. Jaret, Barbara Findlay Schenck. The challenges of growing a business - and how to meet them. Growing businesses face a range of challenges.
As a business grows, different problems and opportunities demand different solutions - what worked a year ago might now be not the best approach. All too often, avoidable mistakes turn what could have been a great business into an also-ran. Recognising and overcoming the common pitfalls associated with growth is essential if your business is to continue to grow and thrive. 10 Ways to Grow Your Business. When you first started your business, you probably did a lot of research.
You may have sought help from advisors; you may have gotten information from books, magazines and other readily available sources. You invested a lot-in terms of money, time and sweat equity-to get your business off the ground. So...now what? For those of you who have survived startup and built successful businesses, you may be wondering how to take the next step and grow your business beyond its current status. Compare Intellectual Property Protections - Copyright, Trademark, Utility Patent, Design Patent. Who typically seeks this protection?
What does it protect? What benefits does registration/filing include? How long does it last? The tech companies with the most patents in 2014. Patents are the lifeblood of the tech industry—and if last year’s numbers are any indication, that sector is performing with vigor.
More than 300,000 utility patents—those are the ones for inventions, rather than designs—were issued by the United States Patent and Trademark Office last year, a record high. Such patents allow companies to put their inventions on lockdown for up to two decades, reaping rewards for significant R&D investments.
And there’s another incentive: allowing businesses to stock up their intellectual property warchests and fortify their legal defenses. “If you’re a bully you’re not going to pick on the big kids,” says Larry Cady, vice president of marketing and senior patent analyst at IFI Claims Patent Services, a firm that maintains a database of patents. Difference Between Copyrights & Patents. Intellectual Property - Small Business Encyclopedia. Definition: The ownership of ideas.
Unlike tangible assets to your business such as computers or your office, intellectual property is a collection of ideas and concepts. . There are only three ways to protect intellectual property in the United States: through the use patents, trademarks or copyrights. A patent applies to a specific product design; a trademark to a name, phrase or symbol; and a copyright to a written document. 6 Reasons All Business Owners Should Register Trademarks. Many business owners and entrepreneurs wonder whether they should trademark their company name.
I was one of those people, but once I began researching the pros and cons, the answer was crystal clear. It shouldn’t even be a question for anyone who also wants to protect their company. First, some background: in early 2015, after we changed our name from AQB to Fourlane®, we promptly applied for a trademark on Fourlane and our sister company, POSWarehouse®. Both names now have approved trademarks, or in this case, “service marks.” A trademark and a service mark really aren’t different. What is a Trade Secret? Broadly speaking, any confidential business information which provides an enterprise a competitive edge may be considered a trade secret.
Trade secrets encompass manufacturing or industrial secrets and commercial secrets. The unauthorized use of such information by persons other than the holder is regarded as an unfair practice and a violation of the trade secret. Depending on the legal system, the protection of trade secrets forms part of the general concept of protection against unfair competition or is based on specific provisions or case law on the protection of confidential information. The subject matter of trade secrets is usually defined in broad terms and includes sales methods, distribution methods, consumer profiles, advertising strategies, lists of suppliers and clients, and manufacturing processes.
Forbes Welcome. Market Positioning Strategy. Next, you want to conduct a thorough competitor analysis to understand who they are, what strategies they use or may have planned, how they may react to your strategic actions, and how your actions may influence their behavior to your advantage.
Some of the data you’ll need is easy to find. Some will take time and effort to gather and analyze. As long as you understand that this process will aid the development of your own marketing strategies – and help locate needs in the market that aren’t being met – then maintaining the motivation to see the process through shouldn’t be a problem. How to Find New Customers and Increase Sales. 7 Ways to Boost Your Small Business’ Sales on a Tight Budget. No matter your budget, there are always ways to increase your sales and grow your business.
But one of the trickiest aspects is increasing your sales when your budget is tight. Whatever the reasons are, it could be challenging to increase your sales while keeping your marketing and advertising dollars under control. Below are seven ways you can boost your small business sales even if you’re working with a tight budget. The Four Ps of Marketing. Marketing Mix, a term coined by Neil Borden, are the ingredients that combine to capture and promote a brand or product’s unique selling points, those that differentiate it from it’s competitors. The ideas behind Borden’s model were refined over the years until E.
Jerome McCarthy reduced them to 4 elements called “The Four Ps.” This proposed classification has been used by marketing companies, branding agencies and web design companies throughout the world. Should You Give Up Equity for the Sake of Growth? Sustainable, growing businesses, especially those in the middle market (typically $20 million to $1 billion in revenue), are in the best position to grow further. They have strategic assets they can leverage, they have the organization and tools to sustain growth, they are more nimble than their larger competitors, and they have more strategic choices in front of them than small or large businesses.
Often, however, midmarket businesses are capital constrained. So how do you capture these growth opportunities? The default choice is to live within your means and only pursue growth that can be funded from within the business. That means that instead of expanding to 10 new cities this year, you must limit yourself to one. Small Business Financing: Debt Or Equity? Small businesses often need money. This is especially true for companies in the beginning stages of development. Finding that money can be difficult. Tighter lending standards and venture capitalists still recovering from the recessionary fallout are producing an environment in which funding is a challenge. There are two basic types of funding available to small businesses - debt financing and equity financing. As a small business owner, which is best for you? 12 pros and cons of raising money vs. bootstrapping. For startup founders, it's an age-old question: is it better to bootstrap or to raise funding?
It certainly depends on your goals and your industry to some extent. But if you're new to the startup world, what variables should you look at to determine which is better for your company in the long run? 6 Tips for a Successful Private Lending Practice. 2012 was our fourth full year in the private money/hard money lending business. Last year we originated 165 loans, making our four year total surpass 450 privately-funded loans. There are tremendous opportunities today for private money loan brokers. We found the following disciplines helped tremendously in growing a thriving private lending brokerage. Stay local. 5 Real World Examples of Forecasting a New Product. Monitoring the financial performance of your business. 10 Metrics Every Growing Business Must Keep An Eye On. 7 Seed-Stage Funding Sources That Might Finance Your Startup. How to Forecast Revenue and Growth.
Differences in Business Entities. Five Reasons Why a Small Business Should Incorporate. How to Establish a Sole Proprietorship in Florida. Choose Your Business Structure. Form an LLC in Florida. How to Do industry Analysis, Examples, Steps, Porter Model. PEST and SWOT Analysis for Business Industry & Competitive Analysis. Industry Analysis. Industry Reports. Keep Up With Industry Trends to Stay Relevant. Business Plan vs Business Model Canvas. Business Model Canvas Tutorial. Why the Lean Start-up Has Serious Flaws. The Beginner's Guide to Lean Startup. What is Customer Development? Crowdfunding for small businesses explained. How to Raise Money for Your Business. Ivyexec. Forbes Welcome. Four simple steps to defining and reaching your target market. 10 Businesses That Failed to Adapt. Five Steps To Business Creativity.
Why Companies Fail—and How Their Founders Can Bounce Back - HBS Working Knowledge - Harvard Business School. What Makes a Good Opportunity?, Starting a Business Article. How The Most Creative People In Business Generate New Ideas. Introducing the Happy Startup Canvas – The Happy Startup School – Medium. 6 Stories of Super Successes Who Overcame Failure. Why do people become entrepreneurs? 10 Characteristics of Successful Entrepreneurs. Forbes Welcome.
19 Books Every Creative Entrepreneur Should Read This Year. Forbes Welcome. 5 Signs You Have What It Takes to Be an Entrepreneur. 12 Habits Of Successful Young Entrepreneurs. The 7 Traits of Successful Entrepreneurs.