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Small business survival: The numbers don’t lie!

If you speak to people who know business statistics, you will hear them say that many small businesses will fail within the first five years. These facts are a contributing factor to people buying long-established businesses in order to gain a higher chance of success compared to a start-up. So what are the odds of surviving more than five years? There are government organizations who keep statistics on this. According to the U.S. Bureau of Labor Statistics, “About half of all new establishments survive five years or more and about one-third survive 10 years or more. As one would expect, the probability of survival increases with a firm’s age. Survival rates have changed little over time.” These statistics are backed up by the Small Business Administration (SBA), who state that nearly 66% ...

Small business owner productivity tips

There are plenty of terms that are touted around the business world like efficiency, but finding their meanings is not as easy as using them. So what do words like efficiency mean? If you Google efficiency, this is what you will get: “the state or quality of being efficient” and “greater energy efficiency.” Synonyms: organization, order, orderliness, regulation, coherence; More an action designed to achieve this. Plural noun: efficiencies “to increase efficiencies and improve earnings.” Technical – the ratio of the useful work performed by a machine or in a process to the total energy expended or heat taken in. It is also short for efficiency apartments.* In your Google search you will also see what Wikipedia says: “Efficiency is the (often measurable) ability to avoid wasting materials, e...

How to create a series of seminars for small business owners and consumers

In our previous article “How to Create a Series of Seminars” we primarily focused on creating seminars and training sessions for larger businesses, but what about seminars and training sessions for small business owners and consumers? As a small business owner, what skills or wisdom do you have to share with other small business owners or consumers? Hundreds of thousands of people pay to attend meetings, seminars, workshops and training programs every year. By creating and conducting seminars or training sessions, you could bring additional income to your business – you just need to find the topic that your audience will pay you to learn about. The most popular training topics include customer service and creative problem-solving. But they can also include team building, leadership and sal...

How to create a series of seminars

Over the past few decades, the seminar business has become quite big because the demand is high. The demand for seminars is not only important with some consumers, it has also become in demand by small businesses and giant corporations alike. As a small business owner, you might be able to get in the game to show off your skills and the skills of those around you. Conducting seminars could result in additional income for your business – because there are hundreds of thousands of people paying to attend meetings, seminars, workshops and training programs every year. Some of these people are sent to these types of events by their employer, while others attend them for personal growth and knowledge. There are thousands of topics being taught each year – from sales and management techniques to...

Virtual Office or Virtual Assistant?

Many people ask what the difference is between a virtual office and a virtual assistant, because some websites and articles use them interchangeably or in similar context. This makes it difficult for an entrepreneur or a small business owner to determine what it is that they really need to help them with their business. In order to help you better understand the differences and similarities, we will first tell you what each is, and then explain how you can get the best of both services from one provider. The term virtual assistant, sometimes called a virtual office assistant (or VA for short), refers to a person who is generally self-employed and provides professional administrative, technical or creative assistance to clients remotely from their home office. Typically, virtual assistants ...

Management tips gleaned from the Harvard Review

The Harvard Business Review (HBR) is a highly regarded general management magazine published by Harvard Business Publishing, an organization that is a wholly owned subsidiary of Harvard University. Harvard Business Review’s articles cover a wide and diverse range of topics that are relevant to different industries, management functions and geographic locations. A great deal of their articles focuses on such areas as leadership, organizational change, negotiation, strategy, operations, marketing, finance and managing people. Recently, Harvard Business Review released a book on their top management tips that were very insightful and should be shared. But the best tips were the ones that can easily be taken and put into action. While a lot of the tips may be more focused to managers of ...

Tips For Small Businesses to Appear Much Larger Than they Are!

Having one address at a prestigious location can be good, but what about having multiple location addresses with a 800 number to 1 location? Your small business can saves money and appears like have multiple locations for less than the cost of 1 office space with the 1 800 number meaning you only need 1 phone + address account. So how is this done? You can have virtual office locations with several Alliance business centers that are located around the world in over 80 countries. With several virtual office locations and a 800 number, your client or prospect will call you and ask to speak to the location nearest them, but the call will be forwarded to where you are working or to your Toronto head office location. When your small business has a live receptionist answering your calls with you...

3 Tips for a Small Business to Compete With Bigger Competitors

There is a great deal of business advice in books and on the internet, but much of it is not always intended or aimed at entrepreneurs or small business owners. There is even less advice on how a small business can compete with the bigger competitors who dominate the market. The advice you may get from a fellow entrepreneur might work for them, but there is no guarantee it will work for your small business, that is nature of small business. Here is some advice that does work for small business that you really need to hear. 1. Do not try to compete with the big box stores using price, they will always win Yes, the Walmarts, the Targets the Best Buys and even online giants like Amazon use pricing to draw consumers away from competitors, but as a small business owner, you will go out of busin...

How to Negotiate for Lower Business Expenses

Every expense that your small business has, ends up adding to your overall cost of doing business and can eat away at your bottom line. What is the answer? Lower your re-occurring costs by negotiating discounts and lower rates with your vendors. While small businesses have been cutting back on their spending over the past number of years, according to one report, costs for goods and services togrther can be has high as 28 percent of your small business’ budget, making those costs the second largest expense after payroll. It is true that some fixed expenses such as rent, office equipment and utilities can be more difficult to negotiate, but with the right amount of knowledge, you might find some alternatives or ways to get these expenses fixed. Knowing what your big expenses will be each mo...

The Real Differences Between Coworking and Business Centre Office Solutions

The flexible workspace sector is home to all types of different types of work spaces and combinations of places to conduct business. Those who are “in the know” about office situations understand the subtle differences between a coworking space and a shared office (a serviced office in a business centre). The differences between coworking and business centre office solutions are an often-debated topic between those who are using coworking facilities to run their businesses, and those businesses who have chosen to use the facilities and services of an office business centre. So let’s look at the similarities and the differences. Many will tell you that cost is the biggest difference, but in fact, some coworking plans will cost you upwards of $300 per month. Yet, you can ge...

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