TIME TO MARKET

            Who is willing to dedicate the time and hard work necessary to properly market your small business to the right people? There are countless books, websites and newsletters readily available with small business marketing advice. It is one of the most well documented parts of operating a small business, simply because it is one of the most important parts. If you're willing to do the work yourself, you’ll need to do copious amounts of research and sort out the good advice from the bad, which isn’t always easy. The burdens of operating a business can leave you with little time to do all of this additional work.

Consider the possibility that you may be better off having a small business partner who is experienced in sales or marketing, or if your budget allows, hiring a professional to handle the marketing aspects of your business. Not even the best idea will find success if it is poorly marketed or not marketed at all. Moreover, if you don't sell your product, someone else will.

EXPANDING YOUR BUSINESS

            When deciding to expand a business, there are a few key things to consider: time, cost and profitability. How long will it take to put in place the actions that will allow the expansion to be successful? How much will the expansion cost? Is the amount needed currently in the budget, or will it need to be borrowed? Will more staffing/resources be needed, and if so, at what cost?

            If considering more than one method of expansion, the most important consideration to weigh is long-term profitability. Weigh the pros and cons of each method to decide on the most effective route.