ReferenceUSA LifeStyle Database

Video: Tutorial on How to Use the Data Axle (Formerly ReferenceUSA) LifeStyle Database

Concepts Entrepreneurs Need to Know, Small Business Marketing / ,

Psychographics track a person’s interests, activities, and opinions. Knowing the psychographics of a specific person or locating people that share common psychographic characteristics is possible with a (LifeStyle) database that is part of a toolset called Reference USA (available at many libraries). This video is a quick tutorial on how to use the LifeStyle database portion of Reference USA to discover what a specific person’s interests are and how to locate anyone else that shares these same interests.

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How to Monetize your Knowledge with a Consulting Business (Pt 1)

Small Business Marketing / ,

Having a consulting business is all about being able to monetize your knowledge as an expert consultant. Making money as a consultant is about being as efficient in engaging the right kind of clients with the least amount of effort. Knowing which clients to target, and then being able to employ the right prospecting techniques and qualifying your leads will make sure that you do not waste time marketing to prospects that are not likely to engage with you.

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Whole Foods

How To Craft A Marketing Narrative To Attract Customers The Competitions Has Ignored

Small Business Marketing /

Our expectations are the engine of our perceptions. It is often not the underlining product that people are buying, but how it makes them feel. Small business owners are best served by not competing in the fat part of the adoption curve where competition is high. Instead, consider employing a different marketing narrative to appeal to more fringe consumers that the primary players have ignored.

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Minimal Viable Product MVP

How to Save Time and Money with A Minimal Viable Product (MVP)

Before Starting a Small Business /

Founders with A New Solution Need to Develop A Minimally Viable Product to Both Validate Their Overall Idea or Concept to See If Others Will Exchange Money for It, And Also to Validate Each of The Key Features by Creating Mini-Experiments Before Investing Their Time and Energy into Engineering the Final Product.

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Protecting a Small Business

3 Things You Need to Protect a Small Business

Risk Factors for Small Business / , , , ,

Keeping things secure from criminals or opportunists should be a priority for a small business owner. However, many small business owners fail to implement proper security strategies to protect a small business, since they have the mistaken belief that only larger business with more valuable assets are targeted by criminals.

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Tacit vs. Explicit Knowledge

Tacit Vs Explicit Knowledge – Why You Need To Know The Difference

Concepts Entrepreneurs Need to Know / , ,

One of the problems with obtaining any kind of knowledge, especially when it comes to business, is that while some kinds of knowledge can be easily codified and articulated to others (Explicit Knowledge), there are also some forms of knowledge that are much harder to pass on and must be experienced (Tacit Knowledge).

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Key Resources Business Model Canvas

Key Resources and Your Business Model

Small Business Operations / , , , , ,

A company’s key resources allow it to create and deliver its value proposition, reach its target market and maintain a quality customer relationship with them so that the business can earn revenue. For a company to produce a product or service, it needs access to physical resources, intellectual resources, human resources, and financial resources.

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Cost Structures - Business Model Canvas

Cost Structures and Your Business Model

Small Business Operations, Small Business Finances / , , ,

A company’s cost structures represent the specific costs that the business will incur while operating under a particular business model. Through understanding the key resource, key activities, and its key partners, the business can determine its available cost structures. By choosing to be either Cost Driven or Value Driven and properly using Operating Leverage, the business can find its optimal cost structure.

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Revenue Streams - Business Model Canvas

Revenue Streams and Your Business Model

Small Business Operations, Small Business Finances / , , , ,

When it comes to defining your revenue streams, especially when you are developing a business model canvas, there are many factors that you need to consider that affect your potential income source. Will you use a fixed or dynamic pricing mechanism, and is your revenue based on transactional and reoccurring sources of revenue?

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The Long-Tail Economy

The Long Tail Economy-What You Need to Know

Small Business Operations / , ,

The old economy had limitations on shelf space and the ability to target niche markets and as a result, companies only invested in offerings that appealed to a very large population. Today we live in the Long-Tail Economy, where a business can target a very specific and often very small market segment for next to nothing and distribution bottlenecks are vanishing, making the offering of niche products and services not only possible but more desirable by consumers.

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Management vs. Leadership

What is the Difference Between Leadership and Management in Small Business?

Small Business Operations / , ,

Leadership and management are both essential elements of business success. Leadership is closely aligned with the role of a CEO and Management to the role of the President. Even though there is a difference between leadership and management most people use them interchangeably which is incorrect.

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Skid Steer Loader - Operating Leverage Example

Operating Leverage for Small Business: When You Should Use

Small Business Finances / , , , , , , , ,

What is operating leverage and why should you care? Ignoring the financial mumbo-jumbo, operating leverage represents how having debt can affect a company’s bottom line profit. In some cases, Operating leverage can improve a company’s profits and in others, it can destroy it.

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Link Building

What You Need to Know About Link Building

Small Business Marketing /

The Most Important Factor in SEO Is Also the Hardest. On-Page SEO Represents All the Things That You Can Directly Control. Off-Page SEO Primarily Consists of Getting Links, Known as A Backlink to Your Pages or Your Site from Other Websites on The Internet, Which Are Out of Your Direct Control. Therefore, While Getting Backlinks Is the Most Important Part Of SEO, It Is Also the Hardest.

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How To Be Compliant With Internet Sales Tax Laws

Small Business Regulatory and Compliance Issues /

In June 2018 the US supreme court upheld a lower court’s ruling that the state of South Dakota could force the online retailer Wayfair, a retailer with no nexus (physical location) in the state to collect sales taxes. This ruling sent shockwaves through the eCommerce community. Therefore, online retailers may now be required to collect sales tax on goods they ship.

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