Why Women In Small Business Must Have A Web Site

In recent years we’ve seen a HUGE increase in the number of small businesses owned by women. This growth has been so dramatic that millions of people now think of a woman when they visualize who owns the businesses they buy from.

Women everywhere deserve a big pat on the back for this amazing accomplishment. But as is always the case for small business owners, there is still a lot of work to be done.

The one thing your small business MUST have is a web site. Sure, ten years ago having a site was an option many small businesses could do without. But that is no longer the case. Here’s why:

* These days consumers and business leaders are more likely to use search engines than the Yellow Pages. They’ll type the name of your town and your type of business into Google and start their research from there.

* A web site lets you put as MUCH information as you want in a public forum. You no longer have to pay thousands for a big newspaper ad just to let customers know about your prices, new services, or show photos of what you do. Now you can keep all that information available on your web site 247 at little or no cost.

* You know as well as I do that most customers are a little shy about asking questions. Often they don’t even want you to know they’re interested until AFTER they have learned more about your product, service, or idea. A web site allows that vast number of potential customers to privately and anonymously read all about your business. Then, when they’re ready to buy, they’ll come forward with their questions and orders. This is a MUCH more efficient way to do business, which leads to my next point.

* Web based business operations can be EXTREMELY EFFICIENT. Customers often prefer convenient email over phone or in-person visits. Email encourages customers to organize their ideas, contacting you when they know what they want and are ready to act. You’ll find your web site generates many more customers and the customers you get are better organized.

* Finally, women love to buy from women-owned businesses. Women, as a group, tend to be less compulsive shopper than men. While a large segment of men will buy an item on impulse, the vast majority of women prefer to learn about your product or service, getting all the details they can before placing an order. Web sites are perfect for presenting a lot of information at very little cost.

There is no question that as a small business owner you have persevered and worked hard, dedicating your life to the success of your company. That being said, dont you think a company you put all of your energies into, deserves the chance at having a happy ending? Have you considered the impact your death, disability, retirement, or even divorce could have on your small business ?

If you are the owner of a small business it is time for you to stop thinking of only what is happening now, and start focusing on what could happen in the future. Therefore, you need to put your priorities into perspective by protecting yourself and your business with a succession plan. A business succession plan is what you need to ensure that your business has a happy ending by remaining secure, regardless of what may happen in the future.

In particular, a succession plan allows your business the chance to be able to stand up to any challenges that may occur along the way. For instance, certain setbacks that you might experience may be entirely beyond your control such as divorce, disability, departure and death. But with a business succession plan you have the chance, as a small business owner, to ensure that regardless of what may happen to you, your business will be protected.

The following are a few aspects you should to take into consideration when creating a business succession plan for you small business:

How to Begin the Succession Planning – Since you need to make choices before you can really begin achieving your succession planning goal, you must first think about your long term business objectives and ask yourself important questions such as

Will I sell my small business?
Should I set up a plan that allows me to transfer my business to one of my business associates or a family member?
Does my business have public potential?

Of course, business succession planning begins with much more than simply deciding who you will be giving your business to in the event that you can no longer run your company, or wish to sell it. Additionally, succession planning is about keeping your small business afloat and successful to ensure that your absence will not devastate your company. Therefore, in order to maintain future control of your business, you will need to begin your succession planning by making choices that will concern things such as:

ownership objectives
asset protection planning
taxation and transaction planning
estate planning

You will want to keep in mind, however, that due to the fact that every action you take with succession planning will result in a reaction, you will require the assistance of experienced experts when developing your plan.

Understand the pounds and Sense of Business Succession Planning Like any type of business preparation, your business succession plan needs to be orderly and handled carefully if you dont want to suffer the consequences of financial losses or worse the loss of your small business. That being the case, you need to know exactly what you are dealing with, and how you can achieve the most of your planning.

The one mistake you will not want to make is to overlook your business finances. You can help keep your business secure by properly using the following, and more, in your succession planning before problems occur:

Life insurance
Disability insurance
Annuities

Furthermore, you will find that with an orderly succession plan, you will be avoiding the possibility of your business having to be sold to pay off the estate tax, in the event of yours or (if you have one) your partners death. It is no secret that estate taxes can claim up to 55% of an estate that is taxable, which is no mystery why so many businesses fall into debt, become bankrupt, or are sold due to the death of the owner or partner.

In addition, another aspect that needs to be considered is that clients are most likely to do business with other businesses after the owner or partner is deceased. However with the proper succession plan, your business should be able to maintain any regular clients – or if not – it will be better equipped to survive the possible drop in assets if a slow period should follow.

Know How to Write Your Happy Ending Remember, when all is said and done, the outcome of your succession plan depends entirely on the choices you make regarding the future of your small business. It is imperative that you take the time to make the best choices that will allow you to implement a succession plan, which keeps you in control of the outcome that involves the transfer of your company. By knowing how to ensure the prosperity of your business future with a succession plan, is how you will write your happy ending.