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Is Small Business Success Possible During a Period of Inflation?

The global post-pandemic economy is turbulent with the current inflation and looming recession. It’s especially affecting small businesses. According to a recent Goldman Sachs survey, 91% of small business owners report negative impacts on their business, and 73% specifically blame rising energy costs.

Small business owner worrying over inflation

Combatting inflation isn’t easy, especially when small businesses laid off nearly 40% of their workforce at the start of the COVID-19 lockdowns. A McKinsey survey found rising prices are a bigger concern to the average American than gun violence, COVID-19, and climate change, with a whopping 65% of people reporting it as their top worry.

As you navigate stricter buyer expectations and supply-chain shortages, you may be wondering how to deal with inflation as a small business.…

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How to Leverage a Competitor Sales Analysis to Grow Your Business

As a small business owner, you probably have mixed feelings about conducting a formal competitor sales analysis. You already generally know who your competitors are, and you’re likely aware of how their value proposition compares to yours. Is it worth the time and energy necessary to conduct a formal competitor sales analysis — and then applying those findings to your business? Absolutely.

Competitor sales analysis

Why conduct a competitor analysis? It provides an immense amount of value to your business. It lets you learn from competitors and helps ensure you’re perceived as an innovation leader. Let’s say you’re working on rolling out a new customer portal, product tweak, or service line.…

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