University of La Verne SBDC Small Biz Blog

  The right pricing model can make all the difference in the success of your business, yet it's often overlooked and undervalued. In this article, we will delve into the world of pricing models and show you how to make the most of them. From cost-plus pricing to percentage pricing, I will cover the most effective pricing models and help you determine which one is right for your business. Don't let inaccurate pricing hold you back any longer. Hourly Pricing Hourly is a pricing model that is commonly used by service business freelancers just getting into the market. Typically they pick a number they can live with. Ideally you want to base it on what you made before in your old job or to at least cover your expenses with the level of work and hours you can expect to work. Understand that realistically 50% of the time you wont be making money and you will be busy with administrative tasks like accounting or marketing. Alot small business owner miss this and even forget to add in a

California, a trailblazer in various social and economic matters, is once again at the forefront of change, this time in the realm of work and regulations. From expanded worker protections to increased business transparency, a wave of new legislation is impacting industries and employees alike. This blog post delves into 5 of recent changes in California law and federals laws that impact small business owners from now into the future.  New rules for contractors to have workers' compensation insurance (SB 216) California is overhauling its approach to worker safety in the construction industry. Effective July 1, 2023, most contractors, including concrete crews, HVAC technicians, asbestos abatement specialists, and tree service professionals, will be required to provide workers' compensation insurance, even if they have no employees. This requirement aims to protect workers from financial hardship if injured on the job, while also ensuring a level playing field for responsible c

If you are working professional looking to set out on your own, getting the business started is not in your wheelhouse. You probably are great consulting clients but aren't comfortable with all the detail of setting up your company with any licensing and operations. In this article, I'll show you a way of setting up your business seamlessly from planning to marketing for business growth.  Business Planning As a new consultant, your focus will be on determining how to deliver your services effectively. The industry and space you choose to operate in will dictate how you assist your customers with their businesses or personal lives. Additionally, you should aim to establish a system, which we'll discuss later, to package and market your services. Identifying your target customers primarily depends on the industry you serve, but there are a few key considerations. Firstly, you should create a client profile that outlines your customers' ultimate goals, identifies the chall

  There are many hurdles new small businesses may need to endure when starting a business and opening a business bank account may prove to be the most confusing for some. Small businesses don’t have much money and hear horror stories about opening or having a business bank account which pushes them to use cash only, which tends to make record-keeping more difficult. In this article, we will tackle 5 myths that persist with bankers and what the truth really is. Myth 1. Banks Don't Want My Business Because it's Too Small You don’t need a lot of money to establish a banking relationship . Bankers want your business because they hope you use other services, like loans and lines of credit with the expectation your company will grow. You can open your business deposit accounts as soon as you have an Employer Identification Number (EIN) .  The FDIC’s 2018 Small Business Lending Survey found that smaller banks (up to $10 billion in assets) tend to be flexible in structuring loans for

  Artificial intelligence, or AI, has gotten a lot of press lately with Chat GPT and now Google’s Bard, automating tasks, writing, and just making certain tasks so much more bearable. As a small business, there are ways to harness the power of AI to take care of things you probably think you need an extra employee to do. I’ll show various ways you can use free AI tools like Chat GPT to handle these tasks so you can focus on running your business. Getting Started Head to chat.openai.com and create an account to get access to the chatbot. Here are a couple of things you need to understand about ChatGPT before we begin: It only knows things up to 2021. So if ask it about a current event or phenomenon, it probably won't know what you are talking about. It may produce inaccurate information like statistics, facts, or places. So take all the “factual” information at face value. With vague instructions (called prompts), you may not get the best answer. So, we need to be as descriptive as

  Domain Name (Google Domains) What is a Domain A domain name is a unique address that identifies a website or online service, and it is used to locate and access resources on the internet. A domain name, website, and  URL are not the same thing.  A URL or   Uniform Resource Locator is a complete web address, including the domain name, used to access a web page like: http://www.stasiasbakery.com.  The domain name is What comes after “www.” in a web address and after the “@” in an email address such as stasiasbakery.com.  The website is the only content people see and interact with when they visit pages associated with a domain name.  Having a domain name is important for showing up in search results. When customers search online, your domain and website can show up in the search results. Brand building, by controlling how your business shows up on the web. With a domain, you own how your business shows up on the web. Professionalism: Today’s consumers expect businesses to have a websit

If you have a passion for fixing things and enjoy working with your hands, starting a handyman business may be the perfect way to turn your skills into a profitable business. Starting a handyman business can be an excellent opportunity for those who enjoy working with their hands and want to be their own boss. With the demand for home repairs and renovations on the rise, starting a handyman business can be a lucrative venture. In this guide, we'll walk you through the essential steps to get your handyman business up and running successfully. Business Planning One of the first steps in starting a handyman business is identifying your target market and competition. Your target market includes the specific group of people or businesses you will be serving with your services. This may include homeowners, property managers, real estate agents, and small business owners. Another important step in starting a handyman business is creating a business plan and setting goals. Your goals shou

Are you struggling to develop a successful marketing plan for your business? Creating an effective marketing strategy can seem daunting, but it doesn't have to be. By answering seven critical questions about your business, you can develop a comprehensive marketing plan that aligns with your goals and maximizes your return on investment. In this article, we'll walk you through each question and provide actionable tips and insights to help you create a marketing plan that drives results with examples. Let's get started. Check out the example here. Question #1: What is Your Business Identity? Your business identity is the unique set of characteristics that differentiate your brand from competitors and make it recognizable to customers. This includes factors such as your company's mission, values, unique selling proposition, brand name, logo, and visual identity. Consistency in these elements across all marketing channels and customer touchpoints helps reinforce your brand