NEW! Business Tips
August 13, 2015
One of the things that small business owners have told us they like is networking with each other in order to learn about and implement new and better ways of running their business. At the ASU Small Business Development Center, we are good sounding boards for our small business clients. Besides helping them with various technical business issues, we share ideas we have learned from our business ownership and management experience, as well as things we have learned over the years. Clients have told us many times this is a valuable part of our services that help them expand or start their businesses.
Networking events are important and lead to valuable resources, connections, and opportunities. Small business owners want to meet with other owners, to share ideas and learn new and better ways of solving their business problems, and to take advantage of opportunities. These opportunities can mean working together as business owners. They can also mean coaching and mentoring each other.
August 06, 2015
Services now make up a majority of our nation’s economy and service industry employment accounts for over 84% of all private sector jobs according to 2010 numbers from the US Bureau of Labor Statistics. Most would agree ours is a service economy. Marketing your service business is necessary because of increased competition for services.Before you embark on marketing your service business, it is important to understand how a service business differs from a tangible product-based business. The factors that make a service business different are: services sell intangibles, employees and the business are inseparable, services are variable, and services are perishable. Below is a brief discussion of these four factors.
July 20, 2015
You want to open a business. You know almost exactly how much it will cost to start; supplies, furniture, rent, utilities, etc. But, what about sales tax? As a new business owner this will be one of the first taxes you will pay once you start selling your product or service. After setting up your company either as a sole proprietor, partnership, LLC, etc., you will need to visit the State Comptroller’s Office to find out about your sales tax responsibility.
Unfortunately, collecting, calculating, reporting and paying sales tax can be confusing, overwhelming, and sometimes complicated for first time business owners. To help you understand sales tax, I would like to share some general information I discuss with my clients during their visit for an advising session.
July 07, 2015
As a young professional, I am constantly striving to find the perfect work-life balance! It seems like a simple concept, but in reality it can be very difficult to achieve. As entrepreneurs and small business owners, you probably face this challenge daily. You probably find yourself always asking what the formula is and how you can keep your family, clients, and yourself happy. As you try to balance your duties in the different areas of your life such as work, family, and friends, it can become extremely overwhelming. The idea of the perfect balance is different for each individual. In trying to create that perfect balance for myself, I try to follow a few basic steps to help keep me moving towards a balanced work-life.
Focus on the things that matter to you….
June 16, 2015
See if you can solve this riddle: “I will work for you 24 hours a day, 7 days a week, and 365 days a year. I will never call in sick and I am never late for work. I will even be at work while you are home and I will attract the attention of 80% of the mobile market.” Who am I?
If you guessed… a sign, you are correct. This riddle was adapted from the Signage Foundation for Communication Excellence and the International Sign Association, ISA. According to the ISA, your business sign is your handshake with the buying public. This visual “handshake” directly impacts the success of your business.
Consider the information from the University of San Diego study of 187 businesses and their usage of signage. The study indicated the addition of a pole sign will increase gross sales by 15.7%. Even with compelling research, some business owners fail to recognize the importance of an effective sign.
Business Tips Archive
The most current Business Tips article is available on the San Angelo Standard Times online newspaper The following Business Tips articles are provided for you in an Adobe PDF format.
- Seven Questions Asked in a Borrowing Situation
- Starting Your Own Business Part 1
- Starting Your Own Business Part 2
- Starting Your Own Business Part 3
- Starting Your Own Business Part 4
- Positive Thinking
- In-home Service Providers
- General Partnerships
- Five C’s of Credit
- Emotional Intelligence is Not an Oxymoron
- Emotional Intelligence #3
- Contribution Margin
- Buying a Business