Using Technological Innovation to Mitigate Issues of Small Businesses

1257 Words Jan 11th, 2018 5 Pages
Small business owners often confuse marketing with advertising. Market refers to the people whom the business would like to target with their product or service. Majority of the business owners do not realize the importance of finding their niche market, which makes their target market to be very broad. Networking with other small business owners who have managed to succeed in their business would provide the business owner with invaluable insights. The business owner does not need to network with others in the same industry. By networking, the business owner would better understand how to narrow down and focus on their target market.
Business owners who refuse to let go of their ideas when things are not working usually end up failing. A business owner should always be prepared to attempt different ideas to establish which one would work ADDIN EN.CITE Bessant2011115(Bessant & Tidd, 2011)1151156Bessant, J.Tidd, J.Innovation and Entrepreneurship2011Hoboken, NJWiley9780470711446http://books.google.co.ke/books?id=u_9-Yl2j0gEC( HYPERLINK l "_ENREF_1" o "Bessant, 2011 #115" Bessant & Tidd, 2011). Attending industry events would provide the business owner with more information and knowledge, which would assist them to…