By MJ Plaster
Back in the Dark Ages of the 20th century, customers knew merchants and did business with those they knew and trusted. Big-box stores such as Wal-Mart, big-box services such as H&R Block and online retailers such as Amazon offer little opportunity for you to get to know them. Their sheer size and impact make customers comfortable, but the typical business doesn’t have that advantage. People want to connect, especially with online providers. Connection builds trust, and people will do business with you if they trust you. If you want to bring customers into your fold with minimal expense, read on to find out what no longer works, and what two powerful marketing tools can engage your customers.
A couple weeks ago, we took a look at the process of filing for bankruptcy. But how did this process come to exist in its current form in America?
Although most people know what bankruptcy is, they may not know what the process of declaring for bankruptcy entails.
While it is perceived as being the last step for a company that is going out of business, this is not always true. In some cases, bankruptcy can be a way for a company to reorganize its debts and come out even stronger than before.
Why Would a Business File for Bankruptcy?
A company may wish to file for bankruptcy for several reasons.
First, it may not have enough money to pay all of its creditors. Therefore, filing for bankruptcy would enable them to pay creditors depending on priority. Most unsecured creditors would get nothing while secured creditors would be paid back up to the amount that remaining assets are worth. Continue reading
By MJ Plaster
What if, like me, you’re beyond artistically challenged, and you need a logo for your business? Where do you start, and how do you go about getting the perfect logo for your company? Logos look simple and easy to design, but they’re anything but. We’ll walk you through the steps to finding and working with a designer after we set the stage by exploring current logo trends.
Last week, we talked about what it takes to get your first fashion business off of the ground. But what happens next?
One of the most important employees at any fashion business, especially at retail outlets, is their wholesale buyer. Their job is critical: Figure out what products you need, and how much to order.
Sounds simple enough, but how well your buyer performs will make all the difference in the success of your business.
So what does a buyer do?
Buyers are doing their job well if they can consistently find and purchase products that your customer base likes and considers to be a good value. Continue reading
Many people dream of having a career in an industry that they’re passionate about, but there are a lot of steps between having a dream and making it a reality. And in an industry as cut-throat and competitive as the fashion industry, that passion must be paired with some
Research the Market
It’s easy to think that just because you’re knowledgeable about fashion, that you know everything about the industry. This is a dangerous misconception.
Learn everything you can about the clothing industry before entering it. Look at comparable clothing businesses. Are they doing okay? Who are they targeting? What are their numbers? Which time of the year is it busiest and which time is the least active? Continue reading
Scammers hurt small businesses in the United States every year. According to the Association of Certified Fraud Examiners, the median loss is a whopping $98,000.
The prevention of fraud requires monitoring the workplace, continuously updated controls, data systems, and special procedures related to preventing fraud and scams. Fraud happens when there is opportunity.
The individual may believe the company owes him or her additional compensation. Perhaps the perpetrator knows precisely how weak the company’s controls and systems are and believes he or she will not be caught. Continue reading
The financial aspect of a business is arguably the most essential for every entity. This is not only required for the perusal of the different stakeholders in the company, but it is also the core indicator of whether the business is making profits or losses, and what measures can be taken based on these indicators.
Normally, businesses that have gone public require having their financial records filed for a number of reasons. The Securities and Exchange Commission requires these documents in order to properly propose the securities laws and in order to effectively regulate the securities market industry. Continue reading
When it comes to business, the holidays are your best time of year. When people are getting ready to relax, you should be getting ready for the busiest time of the year. The fact is that relaxing means consumption, and consumption is how your company gets rich!
In order to maximize your take in this holiday season, you should take some things into consideration. Here are some of the top reasons that your business should start getting ready for the holidays right now.
By MJ Plaster
Before you leap into outsourcing, consider how it could affect established relationships with current employees and customers? It’s one thing to save money, but you don’t want to lose key employees or have customers run for the exit.
What Is Outsourcing?
The term “outsource” has two meanings:
- To contract with a person or business to provide talent that doesn’t reside within your workforce. The talent you hire is “work for hire” or sometimes hired on retainer and must fall within IRS guidelines for contractors.
- To offshore work to a country with cheaper labor.
Both forms of outsourcing provide a service that’s cheaper than hiring an employee when you consider employee overhead.