Nurturing Your Small Business
Nurturing Your Small Business
Thinking about starting a small business this year? You are far from alone. The Small Business Administration estimates that over 600,000 new businesses are started each year. While some of these are well-funded and are launched rapidly, most need to be nurtured with growth fueling growth.
Nurturing a business takes patience and a plan. Here are some aspects to consider if starting a business is in your future.
The Importance of Marketing
Marketing is critical in a start-up and one has to be careful about spending too little or spending too much on marketing and advertising. Look at your low-cost and no-cost options, always be selling, and keep your marketing budget between .05 and 1.5% of gross revenues.
Maintain Balance
Like a seedling needs a balance of sunshine, food, and water, a small business needs the appropriate amount of effort, advertising, and funding. When any area falls short, a business will suffer.
Be Realistic
While enthusiasm for your new enterprise is understandable and even desirable, expectations need to be realistic. Keep goals reachable and achievable and monitor progress closely.
Separate Yourself from the Competition
What makes you unique? Are you better, faster, or friendlier? Are you more affordable, more accessible, or are your products or services better?
Find your unique selling proposition and promote it.
Protect Your Business
Like a small plant, a fledgling business needs to be protected. It needs to be guarded from too much debt, competitors, and from liability claims and losses. While business insurance won’t help you with competitors or debt, it can protect you from liability claims resulting from slip and falls or damage caused by employees, as well as losses due to theft, vandalism, and natural disasters.
We would appreciate the opportunity to show you how affordable business insurance can be. Contact us to discuss your business and your risks. Don’t let an unfortunate, uninsured event stop your business in its tracks. Contact us today for your no-obligation price quote. Protect your business and reach out to us today.
Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder
Search All Blogs
Search All Blogs
Read More Blogs
The Unforgettable Eight: Women Who Captured Our Hearts
Meet the eight women who are loved by all.
Elevate Your Enterprise: 11 Smart Ways to Boost Business Professionalism
Boost your business’s professionalism without breaking the bank.
Lightening the Load: A Guide to Decluttering for Your Loved Ones
Declutter for peace of mind, yours and theirs.
Smart Car Buying: Beyond the Sticker Price
Unlock the hidden costs of car ownership.
6 Simple Steps to Supercharge Your Home Security
Simple, affordable ways to protect your home.
Beyond Boredom: Unearthing the Surprising Stories Behind Our Favorite Board Games
Game night secrets revealed! Discover the surprising origins and quirky facts behind your beloved board games.
Avoiding the Pitfalls: Common Mistakes of At-Home Businesses
Launch your home business right! Learn to avoid the common errors that can derail your entrepreneurial dreams.
Your Life Insurance Recipe: Crafting the Perfect Blend for Your Family’s Future
Find your perfect life insurance mix: Learn how to blend term and permanent policies for optimal family protection.
From Ford’s Innovation to Today’s Marvel: Unveiling the Secrets of Modern Car Production
Beyond the assembly line: Discover the surprising speed, customization, and quality checks involved in modern car manufacturing.
Beyond Pizza and Promises: Recognizing When It’s Time to Hire Professional Movers
Time to call the pros? Learn when pizza and beer just won’t cut it for your next move.