Georgia SBDC- Small Business Blog

"Hope" Is Not A Effective Business Strategy

Three days every year, all of the consultants of the Georgia SBDC Network get together for training at the state office.  We have several speakers come in and talk about business, marketing, finance, accounting and many other subjects.  This year was certainly no exception and we have had some great speakers and training.

One speaker gave some good advice that every business owner needs to remember, "hope" is not an effective business strategy.  As economic times are tough for everyone, many business owners hope that they will make payroll, hope to have customers walk in the door, or  hope to be able to pay themselves.  Are you hoping, or trying to plan.  By analyzing your expenses, revenues and other factors you may be able to find the seasonality in your business that may show you how your next few months or years may be.  Sales in your business could still be lower than usual, but the seasonal fluctuations may still be taking place.  By understanding your margins and expenses combined with your past performance, you may be able weather the storm for now. 

The Georgia SBDC network can help you review your projections to see how your business is going, or can help you create some if you do not have any as of yet.  If you need to reach any of our offices, go to our website to find our contact information.

Name the Business With the Search Process in Mind

The Duct Tape Marketing Blog had a great idea about picking a name for your business.  You can find it HERE.  He discusses when picking a name a should be to think of the marketing opportunities for Search Engion Optimization (SEO), Google, as well as marketability.  He mentioned that "Duct Tape Marketing" would be better than using his own name.  For me, "Hensel Consulting Group," would not be the best idea sincethey would not know how to search for me if they did not know who I am.

Here is what he said:

Today however, there are some other considerations that must be built into the business naming process.

1) Is the name or a reasonable substitute available as a domain name?
2) Does the name contain search engine friendly keywords?

With search becoming one of the primary ways that small business products and services are discovered, some thought must be given to maximizing a company name with that name’s search value in mind.

So think about how your customers search process.  Think of how their mind really works.  Think of them and not yourself.  I often say that one of the first big steps in a business is to finally do what the customer wants, and not what the owner really wants. 

Free "Credit Crunch" Workshop

Anyone who has turned on the news lately has seen the headlines that we are currently in a credit lockdown or a "Credit Crunch."  What does this mean for you the business owner?  Will you be able to get a loan?  Can you grow your business?  Can your business survive?  On November 11, 2008 at 10am until noon, the Clayton State Small Business Development will be conducting a FREE class entitled "The Credit Crunch: Understanding and Protecting Your Credit."

Some of the topics include:

• Why Your Credit Score Is Important To Your Business
• Myth and Realities about Credit
• Business vs. Personal Credit
• FICO Scores
• Credit Scoring Facts
• Credit Controversies
• Improving Your Credit Score
• Tips on How to Cut Costs
• Alternative Funding Sources

Please make sure to sign up in advance at www.business.clayton.edu/sbdc  If you have any questions, please make sure to ask.  This is a free seminar, but there is limited seating so sign up today!