Social Media

These days, when people do something, it's gonna be all over social media. 

With this in mind, it means your business could get some free advertising, whether it's good or bad. 

People write posts on Facebook, upload pictures on Instagram and make 10 second videos on Snapchat, so what you're doing for your business will get attention. Make sure it gets the good kind.

Advertising Pt. 2

Advertising is more than just using Facebook or putting up posters in public places.

Another way to get your business out in the public is to sponsor a local baseball team, or help out with school fundraisers. This not only gets the name of your business out in the open to all different people groups, but it shows everyone that your business wants to be helpful and loves the community.

Employee Requirements

As an employee of Smith Farms, I know I am representing the company I work for. When I come across customers, I am required to be nice and polite to them, as I am serving them and they are spending money at the place I work, which then gives me a paycheck!
Of course, that is not the only reason that I am polite to the customers...but it is the BEST reason.
Customers are people too, and we as employees are required to treat them so, and to give them sincere service, with a smile!

E-Marketing

E-Marketing, or electronic marketing, is defined on Wikipedia as "advertising and marketing efforts that use the Web and email to drive direct sales via electronic commerce, in addition to sales leads from Web sites or emails."
In other words,  internet marketing.
E-marketing is important, for example, it can help reach the younger generation that constantly has their nose in their phones. E-marketing uses social media, ads, videos, internet searches, newsletters and a ton of other forms of communication to spread their advertisements. One good use of e-marketing that I have found is very efficient is advertisement videos on games or other websites.

Competition

Here in life, there is always competitions going on, whether it be legit competitions like sports games or dancing, or the not-so official competitions like *who can be the loudest*... or the fastest/strongest/bestest at anything ever. 

Business is a lot like life in this way: there is always some type of competition. Who has the best price, who has the best customer service, who is in the best location, etc. And as a business, you can have a competitive advantage. 

What is that?

A competitive advantage is: a condition or circumstance that puts a company in a favorable or surperior business position. In other words, what makes you better than the rest. 

So think about it for your business. What puts you aside from everyone else that's just like you? What makes you special and why? If you figure that out, you are in it to win it. 

Location, location, location

Something you would hear from a realtor, right? Location is everything for a home...what school district you're placed in, where the nearest grocery store is, how far away the hospital is...all are important aspects for a home, and they're also important for business!

I think the number 1 importance for business location is how easy it is to get in and out of. If there is a restaurant, store, or any other place of business that is not easy to get into, I usually don't venture out and explore that place of business. I don't like getting stuck in difficult traffic situations. Driving scares me, and I also don't like to park far away and walk, because that also scares me.

Another importance for business location is the amount of traffic it gets around the central location. No, I'm not talking about actual traffic like I mentioned above, but foot traffic, aka the amount of people that comes around the business. If the business is in a good place, people/potential customers will pass by and go into the place of business, tell their friends, etc.

Being in a location away from the direct competition is a good thing, in my opinion. This way, the customers aren't torn between the two, if they're in the general area where your business is, they will forget about the competition and visit your business.

Location, location, location!

Pricing

Pricing is probably the most complex decision an entrepreneur will make, and it is the most important.

As an entrepreneur, your business is your way of life, and the products you're selling is your way of revenue. If you price too high, customers won't buy anything, and if you price too low, you lose money from the process. Either way, you're going to lose if you don't price it right.
Doing research will help. Find a product/service that's similar to what you're trying to price and base your new pricing idea off of their price.