Fox Business: In a New Economy, Small Businesses Must Adapt

Feb 25, 2011 3:22 PM EST
Profit is not a dirty word and any small business owner will attest that they don't have the luxury of speculation and haphazard risk taking with their funds. Free enterprise requires small businesses to adapt to new models and technologies or risk falling behind and maybe even eventually failing. And that's the way it should be.

Rewind a couple decades and you will find that entrepreneurs seeking more exposure relied on word of mouth and traditional print advertising. Flash forward to the 21st century and you find entrepreneurs still facing the same exposure battle, but they now have new tools with the Internet, e-commerce and social networking sites.

The modern consumer is in constant contact with family and friends, and small businesses need to become part of that loop. The small business owner who shows and tells the most new prospects about his or her product or service will end up moving the most volume, considering the entire infrastructure is in place to properly capture that business.

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