What to Do When You Must Close Your Small Business

People close a small business for many reasons. Some do so for personal reasons such as wanting to retire or having a baby. Others are forced out of business due to a violation of the law. But the majority of businesses close for one simple but powerful reason; no sales.

It can be disheartening to have to close a business because you couldn’t interest customers in your product. In fact, it can make you feel like a failure. You’ll even think that if you had tried a little harder then maybe the business would be a smashing success instead of a phenomenal flop.

The first thing you need to do is realize that entrepreneurship is a tough road to walk which is why a lot of people stay in the safe lane of employment. Instead of beating yourself up about having to close a business, you should congratulate yourself for being brave enough to try to make your dreams a reality.

If you have come to the decision to close your business, here are three tips to help ensure a smooth transition.

Six Places to Find Content for Your Niche Website

Niche websites can be a lucrative source of income. Tap into the right market and you could easily make hundred dollars a month in ad revenue and affiliate commissions. Picking a topic, however, is only half of the work. Building the site with useful content that generates traffic is equally important. Without content, you don’t have visitors and without visitors, there is no money.

So where you get content for your niche website? Well, here are six avenues you can walk down to find articles that get results.

Why Competing on Price is a Dangerous Internet Business Strategy

A mistake that I see a lot of internet business owners making, myself included, is to implement a business strategy based on price competition. In this soft economy, we think that the best way to get people to notice us and buy our stuff is to make sure that we have the lowest prices around.

We figure that with less income, people are moving toward frugal lifestyles that involve cutting back on the fluff; things that are nice to have but, since they are not necessary for survival, can be sacrificed for the sake of a healthy budget.

Faced with dwindling profits, we take a hatchet and slash prices hoping the deep discounts will entice customers back to our websites to buy. While this may seem like a good idea on paper it is actually counterproductive to building a successful internet business.

How to Protect Your Online Reputation

Shannon Cherry, over at Startup Spark, did a short post about name squatting and more specifically the current practice of registering company names on the popular networking site Twitter. It seems that several brand names (Tim Hortons, Sears and Coca-Cola) have been registered by squatters and could potentially pose a problem for those companies should the owners of those names choose to use them for evil.