Small Biz Tip: Target Audience: How to keep your retention rate high:
Tips from August 14, 2009 The Small Business tips today discuss target audiences: how to keep your retention rate high.
Build a customer database on your computer that keeps track of your loyal customers; their purchases, needs, and consistency.
Offer a loyal customer card which enables the customers to receive a discount after they purchase a certain number of items.
Ask customers how to improve your business. If they know they are valued and that you will make an effort to change something they will be sure to keep coming back.
Happy employees! Every employee at your business should be considerate and helpful so no customer has a bad experience.
Daily Overview: Keep your customers happy, make them feel valued, and know what they need or come to your business for. [Read Full Article]
Government, Politics and the Economy
How Should Government Encourage Small Business Innovation?
Within Congress, there are two visions of how the government should harness the power of small firms to innovate that need to be reconciled, visions that pit bootstrapped companies against venture-backed companies. NYTimes.com
Consumer Sentiment Posts First Drop Since February
Confidence among American consumers dropped in July, the first time in five months, as mounting unemployment and depressed wages battered households. Bloomberg.com
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Government and Economy
Obama's Small View of Small Business
When it was released, the budget President Obama unveiled sparked a war of words all over the capital. The disagreements were so profound on a host of topics—including small business—that it’s almost as if people were looking at two entirely different documents. Reuters/Front Row Washington blog
SBA's 'Goodwill' Leaves Much to be Desired
Business brokers are worried that the SBA's new loan cap rule will jeopardize entrepreneurship. WashingtonPost.com
Management and Financial Issues [Read Full Article]