The world of business is one that has thrived since early humans first started trading resources among one another. The field of business covers many different topics, like marketing strategies and money management. Even a bit of psychology comes into play when learning why consumers buy and how people evaluate risks against possible benefits. It may seem like a lot to learn, but each component makes up an important part of a successful business.
- Opening and Marketing a Small Business: Opening a business is a great way to be your own boss, but it does require some pre-planning. This online lesson outlines a basic checklist for new businesses.
- Occupational Outlook for Advertising and Marketing Managers: Marketing is a crucial aspect of any business. A career in the field can yield a six-figure income, and the need for marketing managers is growing.
- The Marketing Mix: There are four main elements that make up the marketing process. Each one needs to be considered when putting together a marketing strategy.
- The Importance of a Marketing Strategy: The kind of marketing strategy needed changes according to whether the (business) in question is large or small. This textbook chapter explains the difference between the two and provides good review questions.
- When Does Culture Matter in Marketing?: Not all cultures think the same way when it comes to advertising. The difference is neatly demonstrated in this article from Stanford Graduate School of Business.
- Social Media Marketing for Businesses (PDF): Social media can be a powerful marketing tool. Check out these quick tips for utilizing some of the more popular social media outlets.
- Marketing Research: Large businesses use market research more often than smaller ones. Find out what small businesses are missing out on in this article from the Montana State University College of Business.
- What Is Entrepreneurship and Business Development? An entrepreneur is someone who begins a small business. Not everyone is suited to be an entrepreneur, though.
- Social Entrepreneurship in Business: When an entrepreneur takes it upon themselves to shape the world, the result is a socially beneficial business. Learn more about this unique subsection of entrepreneurs on this page.
- Six Myths About Entrepreneurship: Entrepreneur opportunities have drastically increased with the introduction of the Internet. However, not all opportunities are found online. Find out more in this article about some of the biggest myths surrounding the world of small business.
- The Elements of a Business Plan: First Steps (PDF): Like any business owner, entrepreneurs need to put together a plan for their business. Purdue University has a great handout describing the elements of an ideal business plan.
- Six Common Mistakes People Make When Starting a Business: To err is human, and new entrepreneurs are especially prone to simple mistakes. Entrepreneur Magazine has an article addressing some of the most common errors.
- What Makes a Good Entrepreneurial Leader? It takes special skills and habits to succeed as an entrepreneur. Find out what they are with this article from the University of Pennsylvania.
- How Entrepreneurial Are You? (PDF): Many abilities that make for a good entrepreneur are developed naturally. Take this quiz to find out how many of these abilities you already have!
- An Overview of Economics (PDF): Business accounts for one of four sectors that make up an economy. Understanding how money operates on a large scale can help paint a picture of how a business will do on a smaller scale.
- The Business Cycle of Economics: The fluctuations of an economy can spell disaster for a business if not managed correctly. By learning about business cycles, businesses can adjust accordingly and work within the confines of the current economy.
- Principles of Economics: Understanding why people make economic decisions makes it easier to negotiate tricky deals. From trade arrangements to haggling over supplies, the principles of economics are a critical part of any business.
- Economic Concepts: The buying habits of the public are influenced by factors like scarcity and demand. Clever business owners will tailor their product or service to meet the existing economic standards.
- How Your Understanding of Economics Can Affect Your Decision Quality: Whether it’s managing or advising a business, a good grasp of economics can actually help you make smarter decisions. This article from the University of Florida explains how.
- The Basics of Corporate Finance : The finances of small business are drastically different from those of a large business or corporation. For a quick overview of the world of corporate finance, check out this chapter, provided by California State University Northridge.
- Financial Planning Basics: Part of being an effective, responsible leader or consultant is looking after immediate financial needs. This short booklet outlines the basics of financial planning, and the principles can be easily applied.
- Trade Finance Guide (PDF): Not all business is conducted within one country. This guide, created as a reference for U.S. exporters, provides a good idea of the factors that go into international trade.
- Balance Sheet Items: It may not seem very interesting, but being able to represent a business on paper is critical for federal registration and grant applications. The good news is that it’s easier to do than it sounds.
- How to Analyze a Business Using Financial Ratios: As businesses grow and become more complex, it can be hard to get a good idea of how it’s doing financially. A little research and math can help put together a clear picture of the business’s financial health.
- Financial Advice and Guidance for Small Business (PDF): Financing a new business typically requires an initial investment of the entrepreneur’s own funds. However, there are ways to get funding through grants and investors.
- Writing a Business Plan: Every business needs a plan, but what exactly goes into one? This website walks you through every aspect of a business plan.
- Business Basics: Start-Up Info for the Entrepreneur (PDF): Starting a small business takes a lot of preliminary legwork. The first step is to analyze how likely the business is to make money.
- Steps to Establish a Small Business: Starting a business isn’t as easy as setting up shop overnight. While geared toward those in Virginia, this list still has good, basic steps to follow if looking to start a new business in the United States.
- Starting and Growing a Small Business (PDF): Before starting a business, it’s important to be familiar with any state rules and regulations. Once that’s been checked, planning can proceed with financing and market analysis.
- Small Business Information (PDF): One of the most basic things to determine when starting a small business is what kind of business entity to become. There are partnerships, corporations, and sole proprietorships.
- Small Business Myths and Realities: Some entrepreneurs start a business hoping for a path to quick riches. Small businesses can certainly be profitable, but they do take some time to grow.
- Managing the Family Business: Survival’s Secret Sauce: Small, family-owned businesses make up an integral part of many communities around the world. Not all survive, but those that do follow the rules outlined in this article.
- Attention Entrepreneurs: Sell or Die: Business owners will need to sell a certain amount of their product or service to break even. Capital Ideas has an article that explains how to improve sales with four easy steps.
- Setting Your Price: Whether a business is selling corn or computers, it’s important to know how to set a fair price. A good price will minimally cover the cost of production.
- Benchmarking: Understanding the Basics: Benchmarking is when one company is compared to another or to the best in a particular industry. This helps give owners and investors an idea of how successful a business is in the market.
- Basic Business Organization Concepts (PDF): If you’re looking for a quick review of business topics, look no further. This handout covers all major topics in the world of business and provides definitions for each.
- Business Ethics and Starting a Small Business (PDF): Ethics is often ignored or deemed less important than other factors, like marketing or sales figures. An ethical business standard governs how every aspect of a business is run and can make a world of difference for the lifespan of the company.