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Archive for June, 2006

The Cost of Doing Business

Small business costs are no laughing matter. And when Big Business threatens to push them even higher, humor is definitely the last thing on anyone’s mind.

For instance, gas prices are up…way up! Aside from the blatant, this is creating some less obvious costs for businesses, too. But when disasters strike, what can you do? The infrastructure takes a hit, supply is reduced, and even if demand stays flat, costs increase.

It’s simple economics, but that’s cold comfort when you’re a small business trying to make a go of it.

Still, there’s only so much that can be done to prepare for natural disasters, and topping no one’s priority list is “saving money for gas in case pump prices go up.”

A potential disaster that everyone can anticipate – and hopefully prevent – is the scary reality that “Net Neutrality” might come to pass. Let’s hope not.

Want to talk about business costs going up, up, up?? If the cable/telecom companies get their way on Capitol Hill, it’s going to get a lot more expensive for everyone – including small business owners – to do business online.

Which is directly counter to what makes doing business online so attractive in the first place. The web drives down overhead costs, drives down inefficiencies, drives up marketability, drives up sales.

Oh, and, this just in…it’s still not free.

The upsetting part of the debate, seeming to get lost, is that technology already comes with a price, and it’s not a small one. The businesses that grant us access to all of the online tools we rely upon so much are getting paid for this service.

Want to do good business? Keep your customers happy. Make sure you are getting paid, obviously. But if you have any kind of long range plan in mind at all, make sure that you balance your profits with your customers, not at their expense.


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Business is Tough

Let’s face it: Business is tough.

But it’s supposed to be. Sure, figuring out your business plan, determining whether or not to hire an accountant or PR firm, sourcing suppliers and vendors, remodeling (online and off), managing staff and figuring out some way to afford advertising - all while creating a work-life balance – are difficult things to do.

And Grow My Business offers ideas and advice on how to master this process.

Still…there’s tough, and then there’s tough.

The truly tough part of business, and business success, is knowing when to do the “right” thing. And not just knowing when to do it, but doing it, despite the risk or costs.

Exhibit A: Google China, anyone?

In exchange for the ability to offer its service in China, Google infamously agreed to the Chinese Government’s demands that Google self censor its content. Which is, of course, pretty much counter to the entire point of Google’s service in the first place, right?

But they went ahead with it, much controversy ensued, as did lots and lots of public disfavor, and…Senate hearings!

And now, after all the headaches, all the hassles and all the bad PR, Google cofounder Sergey Brin stated that complying with China’s censorship demands for Google China may not have been such a great idea after all.

So how did Google – whose rally cry is “Do no evil,” – ever decide that compromising its service was OK in the first place? It’s not like Google needed the money, or the exposure. How about justifying it on the basis of needing to be forward-thinking? After all, every business needs to be forward thinking, right?

Not at the expense of core values. Not at the expense of mission. Not at the expense of inspiration.

It’s not hard to make the right decision when there’s nothing to lose, but compromise can look more palatable with a little extra sugar.

The trick to really, truly truly succeeding in small business is doing it on your own terms, and making sure that you can live with the tough decisions in the long term.

Why would you want to do it any other way? After all, it’s your small business, right?

Actually, maybe doing the right thing isn’t so tough after all.

Grow My Business.com is THE place to find inspiration and advice on starting and managing your small business. Get started today.

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Grow My Business

All in favor of growing a business say “Aye.”

The Ayes have it.

Welcome to the Grow My Business Blog, the best spot to check in for
the latest tips, trends and comments about how to start growing your
business, and keep on growing it. Sure, growth = success. But like a
rose bush, without the proper care and feeding of your business,
things can get pretty ugly.

The single-minded focus and life-affirming purpose of this blog is to
provide for you - the small biz owners and entrepreneurs of the world
- news and discussion that is relevant to starting and succeeding in
business.

But don’t just take my word for it. Use this blog as a springboard to
your own commentary, especially in our Forums section.

This isn’t intended as a one way street. Communicate, share ideas,
learn from each other. Grow. Succeed.

Here’s one thing that is relevant to starting and succeeding at
business: Safeguarding your customer’s info. Trust, as we know, is the
cornerstone of everything.

So what do you do when you are the VA and you lose a laptop containing
the private information - names, birthdates, SS#s - of every US
Veteran since 1975?

Well, you don’t keep it a secret, for starters.

Folks, it is 2006, and three weeks might as well be three years when
it comes to giving an identity thief a headstart.

So what are you doing to protect your customers? Are you taking every
necessary precaution? Customer service doesn’t end after the cash
register closes. If you are serious about success, it is an ongoing
process, and one that tops your priority list.

So lets get to it. GrowMyBusiness.com, THE home for small
business.

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