The person or persons responsible for implementing the plan should be heavily involved in its development. Some people hire consultants or have employees draft the plan. If you’re going to be accountable for the decisions that will be based on …
What qualifies as a small business?
A small business may be defined as a business with a small number of employees. The legal definition of “small” may vary by state or industry but is generally under 100 employees. These businesses are normally privately owned corporations, partnerships, …
How do I know if my business idea is feasible?
This is where market research is important. You will want to gather as much information as you can about the market, potential customers, and your competition. Good market research will help you determine if your business idea can be profitable.…
How do I determine a price for my product?
The price you choose for your product or service can be one of the most critical decisions affecting the success or failure of your business venture. Many factors will influence your pricing strategy including the intended market for the product …
How much should I pay my employees?
There is some truth to the old saying that “you get what you pay for.” One thing is for sure: a loyal, hardworking, trained employee is worth a lot in any field.
The federal minimum wage is currently set at …
What does it mean to organize a business as a partnership?
A partnership is defined as two or more individuals “carrying on an association as co-owners of a business for profit.” The income from the business is treated as the personal income of the owners, much like a sole proprietorship. A …
What is a HACCP plan, and why would I need one?
HACCP stands for Hazard Analysis and Critical Control Points. It is a system for managing food safety that prevents hazards of a biological, chemical, or physical nature.
A major focus of the HACCP system is “from farm to table.” In …
What are the components of a marketing plan?
Marketing should always begin with a thorough marketing plan, which allows you to evaluate the market potential for your products or services and develop strategies to meet that potential. A complete, written marketing plan contains seven main components:
1. Market …
How do I develop an advertisement?
Advertisements should be developed to reach the target audience and designed around the business’s desired image. Advertising can be effective only if the message reaches the business’s specific target audience.
Advertisements and all other promotional materials should portray a consistent …
In Tennessee, when does one need to become a Licensed Pest Control Operator?
Chartered companies that are in the business of commercial pest control, applying a pesticide for a fee, are required to have at least one Licensed Pest Control Operator at the main office and at least one at each branch office.…