Small Business: Expansion
Sales don't just wander in your front door. Here's how to cultivate up a steady stream of shoppers.
Sanjay, Huntington, N.Y.
We have a retail shop of clothing and jewelry. I sit all day waiting for the customers. How can I utilize that time on my computer, and do something that will generate extra cash for my business?
Finding new clients requires new skills. Here's how to expand beyond your comfort zones.
From OLG
We have a small business with a number of federal government contracts. We would like to expand to the commercial arena, but have not been able to find a service or method that would provide market differentiation (other than offering lower costs than our bigger and better-known competitors). Would acquiring a firm offering a compatible "niche" be the best move for expansion? In terms of growing federal and perhaps state government sales, would hiring a "consultant" be wise? I am interested in hearing from business owners who have tried both methods. Thanks!
How to get capital when you are your partner disagree on the risks.
C. Miranda, Urban Revitalizers, Boston
I am a partner in a small, certified minority business, and have been managing it for the past 10 years. My firm has just won a statewide contract to conduct assessments of real estate throughout the state. It is our first large contract, and it requires some start-up capital. I have applied for several business loans to carry us through until our first pay-down. The problem is that my business partner of 10 years is not willing to sign, saying that she wants to be able to continue to pay the bills if everything fails. I have used all of my credit cards to get us part of the way there, but still need more capital. My credit score is high. Can someone tell me how I can get over this hurdle?
A good distributor can make or break your product line. Here's how to find the right one.
Deziree Williams, Sugar Free Baby, Los Angeles
I have a children's eco-friendly clothing line. We are taking it slow because we are branding our line and are in some ways picky about who we sell to. I have recently been approached by a distributor, but I'm not sure if this is the best way to launch into the market. Any advice?
We asked the experts and created a step-by-step guide to getting noticed on the fashion scenes.
Samantha Risto, Risto Designs, New York, NY
I recently launched a small women’s clothing business in New York out of my apartment. I would like to know how I can sell to small retailers and boutiques. Do I just show up at their store with samples in hand or is there an "established" way of doing this?
A father-son company seeks advice on formalizing roles and building a sustainable structure for growth.
James, Miami, Fl.
I am part of a small family-owned drywall contracting company, with previous experience in estimating potential projects. My father is the other half of the company, as he has experience in field work. We have experienced some success already, but I'm looking to create structure in our company and lack the experience to do so. What are the steps that I need to take to create clear-cut roles that I should follow? Do my dad and I need to assign responsibilities that we each stick to? Read more…
Rising above higher commodity costs is challenging, but savvy owners can stay strong by adjusting to changing conditions.
Ahmad bin Saripan
I manage a food-processing business, and our sales are declining as costs and the price of raw materials escalate. How can I improve and grow the business? Read more…
Hone in on your ideal customer and practice cost-effective marketing.
Tom Dunlap, La Verne, Calif.
I own a five-year-old Internet business that sells about $100,000 worth of printer toner a year. Our clients stick around due to the savings we provide – they typically cut 30% to 50% in costs – and our customer service. We’d like to stay small, but we also want to attract more customers. How can we accomplish this without spending much money? Advertising doesn’t seem to be cost-effective, and hiring salespeople hasn’t worked in the past. Read more…
How to create an enticing job posting and weed out the weak candidates.
Scott Zimmer, Owner and President, AAA Labor Minneapolis
Where can I find a top-notch sales manager (who would also be the sole salesperson, for now) to help me expand the clientele for my temporary-staffing firm? I'm willing to offer a very competitive pay package, but it's difficult to find skilled, experienced candidates.
Suresh, Duarte, Calif.
I have an offshore call center in India. I am currently serving four clients with exceptional service. They have been outsourcing their orders and customer-service operations to us for the past three years. I expanded my operation but I don't know how to increase my client base. I purchase potential client leads from different vendor sites, but the leads are not that effective. Any idea on how we can increase our client base?
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