Business Development

Is Your Business Ready for Change? 5 Key Areas to Reassess Now

Change is inevitable in business, and with 2025 on the horizon, shifts in economic policy, market trends, and regulations could significantly impact your company. The key to staying ahead isn’t just reacting—it’s proactively reassessing your strategy. In this article, we explore five critical business adjustments you should make now to prepare for potential challenges and opportunities. From navigating economic fluctuations to adapting to new regulations and evolving customer behaviors, this guide will help ensure your business remains agile and competitive. Will you lead the change or struggle to keep up? Read on to find out how to position your business for success in 2025.

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Vacant Luxury Apartments

Empty Apartments, Empty Pockets: Why Understanding Customer Demand Is the Key to Success

Learn why America’s luxury apartment glut teaches a critical lesson for business owners: build products your customers truly want. Discover MVP strategies, customer feedback insights, and more.

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7 Proven Strategies to Boost Revenue Without Raising Prices

Struggling to grow revenue without risking customer loyalty? You’re not alone. Even giants like PepsiCo and P&G are rethinking their pricing strategies as consumers push back against inflated costs. According to Deloitte, 51% of Consumer Packaged Goods (CPG) executives believe price hikes are no longer a sustainable growth strategy. If billion-dollar companies are pivoting, isn’t

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What Small Business Owners Can Learn from the JCPenney and Forever 21 Merger

Picture yourself in a mall in 2002: racks of trendy Aéropostale hoodies, Forever 21’s fast-fashion treasures, and JCPenney’s dependable mix of apparel, home goods, and Sephora counters. These brands defined an era of retail, but the world has since changed. Fast forward to 2025, and these mall staples are coming together under one roof. Catalyst

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The Psychology of Pricing: 3 Anchoring Tactics Every Business Owner Must Know

In 1982, two renowned psychologists, Daniel Kahneman and Amos Tversky, conducted an experiment that showcased a fascinating cognitive bias: the Anchoring effect. They presented two groups of students with identical sequences of numbers but in reversed order and asked them to estimate the result quickly. The sequences were: The results were staggering. The first group,

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America’s Spirits Industry Hits a Dry Spell

ALCOHOL INDUSTRY The US alcohol industry is experiencing its biggest hangover in decades, with no cure in sight. After enjoying a boom during the pandemic’s stay-at-home cocktail craze, major spirits and beer companies are now feeling the pinch, with consumers opting for generic products and younger Americans embracing moderation. Brewed trouble: For the first time in

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Celebrating Excellence: Congratulations to Beth Gantz, Lorain County Community College SBDC Director

It’s not every day you get to witness someone in your professional circle being recognized for their outstanding contributions, but today is one of those days! I’m thrilled to congratulate Beth Gantz, the dedicated and dynamic director of the Lorain Community College SBDC, for receiving the Individual Award for Best Center Director at the Statewide

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7 Critical Lessons from Wendy’s Decision to Close 140 Restaurants

What if closing a part of your business could make you more profitable? That’s exactly what Wendy’s is betting on by closing 140 underperforming locations despite a simultaneous expansion into high-growth areas. This strategy follows a wave of similar closures earlier this year as Wendy’s moves toward “quality over quantity” to protect its brand and

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Women in Business: How Elisabeth Gelhar Built Two Thriving Brands

In this Women in Business Series episode, I sit down with Elisabeth Gelhar, the owner of Oak and Ivy, LLC, and Elisabeth Ashliegh Photography. Elisabeth shares her entrepreneurial journey, her challenges, and how she successfully built two thriving businesses. We dive into social media’s pivotal role for entrepreneurs and discuss strategies for leveraging it to

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