Running a small business comes with many challenges--and unfortunately, one of them is staying ahead of scammers. While big corporations often make headlines when targeted, it’s small businesses that are the most vulnerable. Why? Because they often lack the resources or internal controls that larger organizations have in place.
Common Scams That Target Small Businesses:
Why Small Businesses Are at Risk:
How to Protect Your Business:
Staying alert and having internal checks in place can help protect your business--and your reputation--from falling victim to scams. Being small doesn’t have to mean being an easy target. Running a small business is both rewarding and challenging. To navigate the complexities and set your venture on a path to success, it's essential to build a strong foundation. Drawing from insights shared by Sal Intile in the Daily Herald, here are key strategies every small business owner should consider:
Daily Herald 1. Develop a Clear and Adaptable Business Plan Your business plan serves as a roadmap, outlining your mission, target market, offerings, competitive advantages, and financial goals. It's not just for startups; regularly revisiting and refining your plan ensures you stay aligned with your objectives and can adapt to industry changes. 2. Understand Your Market and Customers Success hinges on knowing your customers' needs and preferences. Gather insights through feedback, surveys, and competitor analysis to tailor your products or services effectively. A deep understanding of your market allows for better customer relationships and targeted marketing strategies. 3. Maintain Financial Discipline Separate your business and personal finances to simplify bookkeeping. Monitor cash flow, adhere to a realistic budget, and utilize accounting software or consult financial professionals to stay on top of your financial health. 4. Embrace Digital Tools and Online Presence In today's digital age, a strong online presence is crucial. Leverage digital tools for marketing, customer engagement, and operations. Ensure your website is user-friendly and active on relevant social media platforms to reach and retain customers. 5. Build Strong Customer Relationships Customer loyalty is vital for sustained success. Provide exceptional service, seek feedback, and address concerns promptly. Personalized interactions and consistent communication can turn one-time buyers into repeat customers. 6. Stay Informed and Adaptable The business landscape is ever-evolving. Stay informed about industry trends, emerging technologies, and regulatory changes. Being adaptable allows your business to pivot when necessary and seize new opportunities. By implementing these strategies, small business owners can navigate challenges more effectively and position their businesses for long-term success. Remember, continuous learning and adaptability are key components in the ever-changing business environment. https://www.dailyherald.com/20250503/business/essential-tips-for-small-business-success/ The Heart of Our Communities ❤️
Every big idea starts small—and this week, we proudly shine a spotlight on the entrepreneurs, dreamers, and doers who make our communities thrive. National Small Business Week is a time to recognize the vital contributions small businesses make to our local economies, job creation, and the character of our towns and cities. Why Small Businesses Matter Small businesses aren’t just storefronts or service providers—they're the heart and soul of our neighborhoods. They bring innovation, personalized customer service, and deep-rooted community involvement. According to the U.S. Small Business Administration, small businesses make up 99.9% of all U.S. businesses and employ nearly half of the nation's private workforce. That's not just impressive—it's essential. More Than a Business: A Mission Behind every small business is a story—of passion, persistence, and purpose. Whether it’s the family-run bakery on Main Street, the tech startup launched from a kitchen table, or the local accountant helping other businesses stay afloat, these entrepreneurs take risks, solve problems, and drive progress. How You Can Celebrate Here are a few ways to show your support this week:
A Message to Small Business Owners To all the small business owners: thank you. Your courage, creativity, and commitment make our communities stronger and more resilient. This week—and every week—we celebrate you. Keep dreaming big, working hard, and building better. The impact you make is greater than you know. |
GLM's BlogIn true blog fashion, the last parts are at the top of the page. Scroll all the way down and work your way back up to read them in order.
Tom GoscheTom is the Business Development Manager for GLM. If you are interested in learning more about GLM's services, contact him: 630-675-8971
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