While there are a few approaches to determining the value of an existing business, they all hinge on the ability of a buyer to accurately predict the future cash flow created by the assets. In other words, nobody wants to work for free! Is a buyer going to be confident the business can pay them… Read more »
Posts Categorized: Small Business Information
Are You Ready To Be a Business owner? Personal Readiness
Are you ready to launch your business? Personal readiness is key when it comes to opening a business, and it’s essential to take the time to make sure you are prepared for all of the challenges that come with the process.
Should You Raise Your Prices?
As a small business owner, one of the biggest challenges you may face is determining when it’s time to raise your prices. Maintaining loyal customers and earning a profit can be a delicate balance. However, there are times when raising your prices is necessary to keep your business viable. A winning price strategy includes knowing… Read more »
Preparation For Fairs, Festivals And Farmers Markets
Maine offers businesses year-round opportunities to display their products to potential customers. The state has 24 agriculture fairs, 70 festivals, 115 summer farmers markets, and 35 fall/winter markets. Participating in fairs, festivals, and farmers’ markets can be an excellent way for businesses to promote their products and increase sales. However, it’s essential to prepare your… Read more »
Nature-Based Tourism In Maine
Maine’s outdoor industry is a vital and thriving state economy component. With its rugged coastlines, dense forests, and stunning mountain ranges, Maine is one of the top five states in the country for the outdoor recreation industry. In 2022 alone, Maine attracted over 15 million visitors, adding around eight billion dollars in revenue to the… Read more »
Introductory Guide to Mobile App Development for Small Businesses
By: Maine SBDC Intern Ryan McNally From banking to social media, mobile apps have become a part of our daily routine. Some businesses only exist as apps, like Uber, and other businesses develop apps to enhance their existing services, like clothing stores. For small businesses, developing a mobile app may seem intimidating and costly, but… Read more »
Networking For People Who Hate It
Some of the best parts of networking are meeting people from all backgrounds, building your business, finding new clients, and getting your name out there, but it can also be an uncomfortable experience. If you’re an introvert, networking may be one of your least favorite activities. So here are some tips and tricks to make… Read more »
Developing Your Brand Identity
Did you know that establishing your brand identity is crucial to your marketing strategy and helps you better articulate your brand image? After all, the brand’s personality and originality are what people remember about your company and how your customers recognize and experience your business.
How To Prepare Your Business for Wholesale
If you’re planning to start a business or already have an existing one, you may have considered whether wholesale is the right approach for your business. There are various factors to consider, so we’ve highlighted some major points to ensure you have the right tools to get started!
Are You Ready for Business Ownership? Part 2
The second of a two-part series on how to start a successful business (or not)… In our first article in this series, we asked you questions to determine if you’re ready to be a business owner. If you think it’s a good fit, then it’s time to think through your idea to make sure it… Read more »