Keeping Ozzie and Harriet Hours in a 24/7 Business Climate

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University of South Florida

How do you keep your customers loyal in a 24/7 world? Be flexible and present. Download this graphic as a reminder of what's relevant in a 24/7 business climate. For more resources, visit SBDCTampaBay.com/blog. Content provided by David Noel, Florida SBDC at USF business consultant.

Keeping Ozzie and Harriet Hours in a 24/7 Business Climate

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So, you’ve spent all this time and money developing your ideal product/service offering, and customers are buying! Hip, hip hooray! But that was last month, and this month it seems sales are slowing down. I know…it’s the weather…or the season…or better yet, the economy. No, no, and no. Most small business owners have realized customers are the key to success. It’s true they are the lifeline of the business, but so is your product offering. Whether products and services are purchased in person, at a brick and mortar, or on the web, providing unique, well-priced, quality-infused and timely (trend-conscious) assortments are essential. What else is essential? Newness, related accessories, and upgrades. You’ve accomplished the heavy lifting – developing a pool of customers, “traffic” that recognizes your brand and wants to buy your products. But what happens when they’ve completed their initial purchase? Is it ‘one and done?’ Is every new revenue dollar dependent on a new customer? Successful business owners know that is not the case. Content contributed by Christine Jaros, Florida SBDC at USF

Product Line Extensions – Adding Revenue by Adding Related Products and Services

Product Line Extensions – Adding Revenue by Adding Related Products and Services

Product Line Extensions – Adding Revenue by Adding Related Products and Services

University of South Florida

While many marketers spend big on paid advertising methods to build brand credibility and awareness, one of the most influential methods that is often overlooked and totally free is public relations. Called the art of influence, “public relations is about influencing, engaging and building a relationship with key stakeholders across numerous platforms in order to shape and frame the public perception of an organization,” according to Public Relations Society of America. You may be asking, isn’t that definition also advertising? The difference between public relations (PR) and advertising is night and day, or in this case earned credibility versus paid promotion. Think of the difference this way: You’re at a dinner party and I come up to you without knowing you and say, “I’m the best artist of all time.” That’s advertising since I’m promoting without any credentials you trust. At the same dinner party, a friend comes up to you and says, “He is the best artist of all time.” That’s PR as it comes from a reputable source. So PR can shape and frame public perception to build a credible reputation. Content contributed by Scott Carpenter, Florida SBDC at USF

How to Use Public Relations to Build Brand Credibility

University of South Florida

Many of my clients struggle when making the jump from a subcontractor to a prime government contractor. There are two main hurdles for them – resources and business infrastructure. Business infrastructure requires business owners to work on internal items, such as business, personnel, technology, facility and operational plans. All of these things require time and money from the business owner. For those that can make the jump, there are many benefits and reasons for moving from a subcontractor to a prime contractor. Some of those include: Utilizing your military experience to provide practical solutions in which you have experience The ability to capitalize on market patterns and trends The ability to grow and expand into a large corporate structure The ability to give back and create teaming arrangements and subcontracting opportunities for smaller businesses in the industry For those clients who want to tackle the prime contractor jump, I have created a roadmap with six areas of discussion that we use when trying to identify strategies to aid them in making a smooth transition. Content contributed by Yolanda Cowart, Florida SBDC at USF

Tips For Transitioning From a Subcontractor to a Prime

Tips For Transitioning From a Subcontractor to a Prime

Tips For Transitioning From a Subcontractor to a Prime

University of South Florida

Building your business through acquiring new customers is the key to success. While some new sales are organic where new buyers simply find you on their own, most new business is a result of a concentrated effort from businesses to find those buyers. Yet with this pivotal business function, we hear it almost every day from our clients at the Florida SBDC at USF: “I don’t know how to strategically find more customers with my limited marketing budget to grow sales.” The key to marketing success for new business isn’t always about what you do externally through random digital ads trying to be all things to all people. Rather, it is often achieved by looking internally first to strategically determine the center of the preferred customer bullseye. In this case, the best source to strategically find your next customers is understanding who your current customers are. This is accomplished through data mining your customer database to understand their likes, dislikes, preferences and buying habits. This can easily be accomplished through customer surveys. When most business owners think about customer surveys, most think about simple customer satisfaction questions. But surveys can be designed to learn so much more about your customer group as a whole to create an ideal customer persona – one entity that represents the key traits and behaviors of a large segment of your audience – to make your marketing and sales very targeted in its approach. Content contributed by Scott Carpenter, Florida SBDC at USF

How to Find New Customers On a Limited Marketing Budget

How to Find New Customers On a Limited Marketing Budget

How to Find New Customers On a Limited Marketing Budget

University of South Florida

When you think of the great brand names in the world, they all have one thing in common: they deliver an emotional solution every time it is consumed that is bigger than its functional benefit. Think of Corona beer. You don’t have to be a beer drinker to understand its emotional value offering: instant vacation, beach, fun, friends… oh yeah, it’s a beer. All too often companies fall into the sea of sameness – brands that look and sound the same – by only promoting functional benefits that any competitor can claim: green, metal, durable, flexible, quality, etc. When companies do that, it’s no wonder they underperform, lose market share, and even go out of business. If you want your brand to rise above the clutter and noise of the sea of sameness, it’s time find your own Corona a-ha moment. Content contributed by Scott Carpenter, Florida SBDC at USF

Find Your Brand's A-Ha Moment to Break Out of the Clutter

University of South Florida

Through our work at the Florida SBDC at University of South Florida, we provide no-cost consulting to a wide range of diverse business clients. Some are doing very well as they seek our consultant’s insight to help them expand into new markets. And we see companies struggling to stay competitive during challenging times. While there are many factors that probably separate the two types of companies mentioned above, we often find that the successful companies have a firm vision of their brand’s value and have the ability to communicate that position in a clear, concise and compelling manner. In contrast, the companies that struggle typically haven’t found their “voice” in the marketplace and blindly wander trying to be all things to all customers. In today’s highly volatile marketplace where every dollar is important, the stakes are too high to not find your true brand vision. In 2020 and beyond, your brand vision must be clear — perfectly focused – or 20/20. How does a company find that vision? We help our clients find that vision through a variety of exercises designed to find a distinct ‘a-ha’ moment that uniquely encompasses the true value of the client’s brand that no other competitor can define. Content contributed by Scott Carpenter, Florida SBDC at USF

Create Your Brand With 2020 Vision

University of South Florida

Before we know it, the holiday season will be upon us. Customers will be flocking to stores to make their season magical by purchasing gifts for family and friends. While the customer is full of holiday spirit, retailers need to be at the top of their game to succeed. Success comes in three parts: Managing Pre-Thanksgiving activity Managing Post-Thanksgiving activity Managing Post-Christmas activity Content contributed by Greg Manning, ABCP Florida SBDC at USF

How to Win During the Holiday Season

How to Win During the Holiday Season

How to Win During the Holiday Season

University of South Florida

So, you have an idea for a new business – now what? Any successful business owner could tell you that it takes more than an idea to become prosperous. Everyone has a dream, whether they follow it or not is another story. Though every business owner is different, many hold certain key personality traits that drive them to chase their dream when they wake up every morning. Here are five key traits of an entrepreneurial spirit you need to ensure success. Content contributed by Shaunda Wickham, Florida SBDC at USF

5 Key Traits of the Entrepreneurial Spirit

5 Key Traits of the Entrepreneurial Spirit

5 Key Traits of the Entrepreneurial Spirit

University of South Florida

When a business owner first opens shop, there is one thing he or she must remember – starting and operating a small business is a team sport. One of the biggest mistakes a business owner can make is attempting to do everything on their own. You can’t do everything on your own –no one can. From creating a business plan, to financing to bookkeeping, it’s all about understanding who needs to be on your team and then building the right team around you. Content contributor: Carl Hadden, CME, Florida SBDC at University of South Florida Find no-cost resources at SBDCTampaBay.com/resources or subscribe to our blog at SBDCTampaBay.com/blog.

Building Your Dream Team

Building Your Dream Team

Building Your Dream Team

University of South Florida

Optimizing Your Google Listing

Optimizing Your Google Listing

Optimizing Your Google Listing

University of South Florida

“I can’t find the right people to hire and even if I do, they don’t last more than a year or two!” the client groaned sitting across from my desk. “We pay the going rate but things have changed. Employees just aren’t loyal anymore!” Unfortunately, the business owner was experiencing “churn”—a term used to describes the workplace “illness” of rapid turnover (voluntarily or not) that costs companies between 16 to 20 percent of the employee’s annual salary in hiring costs. However, the following steps can help companies minimize this profit stealer. Content provided by Linda Benedict, Florida SBDC at University of South Florida business consultant Learn more online at http://SBDCTampaBay.com/blog.

6 Steps to Curing Employee Churn

6 Steps to Curing Employee Churn

6 Steps to Curing Employee Churn

University of South Florida

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The Neglected P in Marketing - People

The Neglected P in Marketing - People

University of South Florida

Every account on a company’s chart of accounts has a purpose but not all are created equal. Nobody knows for sure who said it first but virtually everyone agrees that cash is king. It always has been and always will be. Cash – it’s the fuel that powers the business engine. Without an adequate supply of cash all businesses will fail, even those whose sales are growing. Startups and small businesses are particularly vulnerable to this because they often don’t have adequate reserves and they don’t understand cash management. A study by US Bank concluded that as many as 82 percent of startups and small businesses fail due to poor cash management. 82 percent! Let that number sink in for a minute. Now that I have your attention you’re probably wondering how do I avoid being part of the 82 percent? Find more resources at http://SBDCTampaBay.com/resources. Content provided by Bill Burnham, Florida SBDC at USF business consultant.

The 18% Solution - Cash is King

The 18% Solution - Cash is King

The 18% Solution - Cash is King

University of South Florida

Insurance has been around for a long time. Two thousand years ago, the Greeks and Romans had a form of cargo insurance. In the early 1700s, Lloyds of London became known for its maritime insurance. In 1752, Benjamin Franklin brought property insurance to America. The concept is simple: For a price, the insurance company will guarantee you against loss if you play by the rules. Find more resources at http://SBDCTampaBay.com/resources. Content provided by Linda Benedict, Florida SBDC at USF business consultant

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Five Rules of the Insurance Game

Five Rules of the Insurance Game

University of South Florida

Even though there are budget cuts in the federal government it is still one of the most lucrative places to get contracts from – especially for small businesses. You can take an assumption from the fact that they spend nearly $500 billion every year on these contracts and by law 23 percent of this is supposed to go the small businesses every year. Find more business resources at http://SBDCTampaBay.com/blog. Content provided by Yolanda Cowart, Florida SBDC at Pinellas County business consultant

6 Tried and Tested Tactics for Government Contracting

6 Tried and Tested Tactics for Government Contracting

6 Tried and Tested Tactics for Government Contracting

University of South Florida

Failure to Launch

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The following information is presented to get business owners thinking about the necessary information required from a designer to protect the business. In no means is this list of activities/questions to be considered the ultimate list for every business, but merely some thought-provoking ideas to consider. Please seek legal counsel before signing any contracts. Information provided by Wayne Brass, business consultant for the Florida SBDC at Pinellas County Economic Development.

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