In a world where 1 out of 10 small businesses make it to 5 years, lets take a look at 10 tips for Small Businesses. I have had a close-up view of numerous business successes and failures — including a few of my own.
Know your customer. As a small business, it is difficult to be all things to all people – be laser like targeted. In fact the most successful big businesses, (i.e. Coke, Geiko, etc.) are singular in focus as to who there customer is. Do you see Geiko advertise in a high-end magazine or do you so Coke advertise in a Whole foods Store? The reason this question ‘who is your customer’ is so important… it will define for you where to spend your marketing time and money.