Canadian small business owners are being hit hard by rising costs. But rather than raise their prices they are willing to take the less profitable approach and absorb the increases. This is a good tactic to use for the long term say experts and getting, and keeping, a loyal customer is a top priority.
For more on this story visit the Vancouver Sun.
Silent investors could be a perfect solution for your new business funding issues. Their aim is like any other investor, and that’s to make money. But it doesn’t always mean they want to be involved in the general running of your company. Finding any investors can be tough, so make sure your elevator pitch is up to scratch and business plan is up to scratch.
Finding a silent investor isn’t easy. You won’t be able to pitch your business to someone you can’t find, and here the only options is networking. Speak to people that might have business contacts and make sure you keep them up to date. Persistence is an important part of finding an investor, especially for the silent investor. Read the rest of this article
Image courtesy of Marco Bellucci
When it comes to your investment pitch, you need to plan ahead. You’ll have prepared your company plan and practiced how to pitch your business, but have you planned for the questions that might be fired in your direction? This can cause a potential stumbling block but knowing what to expect can leave you one step ahead.
This is the most common question from investors, and it sounds easy to answer. But there are still a lot of people that talk for a long time, about every aspect of the company. Remember, that it’s not always about the question but the way it’s being said. When an investor asks what you company is about, they want it in a short, precise, attention grabbing moment. Sell your business to them as if they were waiting for a train and it just started pulling into the station.
When completing your investment pitch it’s always good to include the customers you already have. This shows that something is working and with a bigger push, there will be more people interested. If you have references, use them. Anything that shows your company has potential will give you a better chance of receiving new business funding.
There is always competition, so avoid answering this question with ‘no one can’. But what can you say? A larger company will have more staff, more money, and years of experience. The only answers you have are that you can move quicker, that other companies have too much to deal with already. Read the rest of this article
In South Carolina, state officials tried a new method in matching small businesses with lenders. The state-sponsored workshop included a session where small business owners held multiple rapid-fire meetings with different lenders.
For more on the story, visit The Wall Street Journal.
President Obama has named a new economic adviser today, Alan Krueger. This is good news for small business owners as it increases the chances of a new HIRE Act. Obama reveals that this new act will help small businesses hire new employees and put construction crews to work.
For more on this story visit Portfolio.com.
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Working out how to find an investor in Toronto can be a tricky business. You look online and only see broad articles that don’t explain the ins and outs of the city. And when you look closer the articles lead you back to where you started. So what’s the best approach?
The first thing to do when working out how to find an investor in Toronto, is speaking to contacts. Though it may seem like an outside bet, you’ll be surprised with who knows who, and if they’re local, you’ll have more of a chance in finding your investor. Ask anyone you know to send out the message that you’re looking, and then start with the next steps.
Some people don’t have contacts, so try networking. There are a wide number of websites for potential small business owners, so try online, then in local publications. Enterprise Toronto is a great place to start, and they will also have links to sites that might come in handy. Read the rest of this article
Many small business owners are looking overseas for ways to help their company improve. Some of the tactics used are investing in foreign exchanges and looking to different methods of running their company. Many have lost faith in their current market and are looking elsewhere to diversify their options.
For more news on this topic visit MarketWatch.
Marketing to fellow entrepreneurs can be challenging. They are often busy individuals, adverse to risk and familiar with marketing techniques. If you need to market to other small business owners, underline that your marketing campaign can do the following:
To determine the best marketing plan for your small business, contact the Winflow Financial Group. We can be reached by:
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