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Lack of cash flow and planning are two primary reasons businesses fail. You can avoid this fate by researching your setup costs, planning how to operate your company, and keeping track of your operating expenses—all before you open your doors.
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If writing a full business plan seems overwhelming, start with a one-page Business Model Canvas. Developed by Founder and CEO of Strategyzer, Alexander Osterwalder, it can be used to easily document your business concept.
Download this template to fill out the nine squares focusing on the different building blocks of any business:
- Value Proposition
- Customer Segments
- Customer Relationships
- Channels
- Key Activities
- Key Resources
- Key Partners
- Cost Structure
- Revenue Streams
For help completing the Business Model Canvas Template, contact a SCORE business mentor for guidance
Does writing a business plan seem overwhelming? Try the Business Model Canvas. Explained in this article: what is it, and how you can use one.
Get the answers to four common questions about domain name registration and building an online presence for your small business.
Start off your entrepreneurial journey on the right foot with these 14 tips for aspiring women entrepreneurs.
In the first two parts of this series, we discussed the importance of email as a marketing tool for all small businesses. So why are we singling out business-to-business (B2B) email marketing here? We’re focusing on B2B in this post because many B2B business owners may have the wrong idea of positioning their email campaigns.
ROI by Industry
As we noted previously, according to Campaign Monitor, email generates $36 for every dollar spent, the highest ROI (return on investment) of any marketing strategy. And most businesses that always A/B test their emails generate an ROI of 48:1.
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As we mentioned in part one of this series, email dominates the marketing kingdom, generating an impressive ROI (return on investment) of $36 for every dollar spent, the highest ROI of any marketing strategy, according to Campaign Monitor.
Email Design
Another crucial element contributing to the success of your email campaigns is how they’re designed. HubSpot notes there are 13 best practices for good email design:
- Craft a strong subject line.
- Write an attention-grabbing pre-header.
- Be concise.
- Keep your email on-brand.
- Think about your layout.
- Personalize every email.
- Inc
While survival was the name of the game for many small business owners during the COVID-19 pandemic, today’s entrepreneurs see a brighter future ahead. In Meta’s most recent Global State of Small Business report, small business owners in North America feel confident about surviving for at least another six months under present conditions. That’s good news for veteran-owned businesses strategizing how to grow to the next stage of success.
Ready to start your dream business? The Simple Steps for Starting Your Business courses can help you determine if starting a business is right for you.
Starting a business in the next 12 months is a smart move, despite fears of a recession or inflation. Read this blog by small business expert Rieva Lesonsky to learn why.
To help you see the benefit of mentorship, we asked entrepreneurs this question for their best insights gained as mentees. From owning your own mistakes to breaking big goals into small steps, several pieces of advice may help you shape your career and personal life into success, just like the entrepreneurs who shared them
According to Business Jargons, an online business encyclopedia, it’s often harder to start a business in rural areas, due to several factors, including a lack of technical know-how and training. But the encyclopedia also points out that several businesses are particularly well-suited for those living in rural America.
