Iandenny commented on the following stories on BizSugar
Tim, I agree. Credit should always be handled carefully. I was trying to make a point that because it's a recession, those offering credit will stand out as different. You do need to use a combination of credit-checking and also adding a premium to the product price to cover a percentage of write-offs and still make your required profit. And yes, the sale of tangible products hurts more when you've born a cost. Time does have value though if you offer a service. Once it is consumed, you have paid for labour and have an opportunity cost that cannot be recovered. So I'd still take the same precautions."
I completely relate to the challenges of starting up something as simple looking as Bizsugar. To the untrained eye, anyone can do it. I liked the inside view of what's involved in launching a social bookmarking site like this, and in particular the analogy of promoting a rock-band without the mega promotional budgets."
Word of mouth and referrals are something everyone takes for granted, everyone puts near the top of the list as principle sources of new business, yet very few do anything about it. This is an excellent list of areas to look at within your business to give word of mouth a helping hand."
The question that is never answered for small businesses with hosting is: What do you do when BT or your broadband provider is cut off? For many businesses, it can cost thousands if they were off for a day or two and not able to receive email or work effectively. Having the infrastructure in your office is still more guaranteed than off-site. When proper service level agreements come in for broadband, or leased lines (more robust) come down in price sufficiently, it may be worthwhile. Until then, be wary of hosted apps as the mission critical centre of your small business."
It's a good tip. Rarely do small businesses get the product/service right AND the marketing/hooking/selling at the same time. Usually one is far weaker than the other, and the survival rates of businesses who don't get both above the tipping point to success is therefore far lower. Good debut blog post though. Shame there's not been more since."
A good read. Echoes my own thoughts abnout preparing to sell well in advance. I think I may try to find the buyer myself but use experts to prepare the sale and deal with the potential buyers I put their way. I'd rather choose who bought even if it takes longer as it is your "baby" and you want someone to look after it and all those who work for you well!"
It's interesting that there is some basis. But could the same genes be applied to other activities than becoming an entrepreneur? For example, someone who throws their whole being into fund-raising for a charity? Is it the drive, passion and enthusiasm that is genetic, or the need to be your own boss for your own gain?"
I agree - Bizsugar is a great site and I'm spoilt for choice because everything is pretty much relevant to me. While I like other social bookmarking sites too, this gets a little more attention from me than the rest. I like the easy to use interface and the fact that it's all good content."