Business Tips from Black Enterprise

I came across an article in the latest Black Enterprise Magazine small biz section.

5 tips for revving up your business

and I thought I should share for anyone who is in or thinking of going into business....

these are the points I found most useful.

Jamilah Barnes Creekmur who used to be a driving force with allhiphop.com had these tips

• Consider adding value before raising the price

so if you must raise the price for whatever reason add an additional service or quality to what you are offering so that the customer doesn't see it as higher prices because something comes with it!

• Don't forget to be innovative

sometimes offer things to your customers before they know that they need it or heard of it.

• Partner Up

this has proven to be the absolute hardest thing for me to do.  I would have loved and still would love to partner up but it is ofetn times hard to find someone on the same page as you are and that is not threatened by the possibility that you will make more money or take some out their pocket.  With me being so new at business I still have that fresh newbie attitude that thinks everything is going to work but not everyone is so receptive.  That does not mean stop trying because I am definitely not going to. 

• Plan Accordingly

this is also something that I have to work on because a lot of my planning begins and ends in my head and never makes it on paper.  I might execute the plan but don't have it written out so it's hard to track later on down the road.  I know how important a paper trail is so that is a MUST for me to get better at.  Jamilah states "that a lot of small business owners want that multi-million dollar business but don't understand the investment and sacrifice it takes to get to that point."

• Understand that Communication is Essential

Heard many times It's cheaper to keep a loyal customer than it is to acquire a new one.  Because the loyal customer has an emotional connection to your brand it is important to have a loyalty program or retention program.  "She also advises entrepreneurs to under-promise and over-deliver.  This may mean follow-up calls, remembering customers by name, etc."

I found this article to be helpful and a reminder of things I heard before but ALWAYS important to keep incorporating them into the business, so I hope this has been some use to someone else!


ttyl....xoxoxo....Nicki's Beauty Bar