It seems to me that most small business owners number one priority and goal is growth. Everyone wants to grow their small business.
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It seems to me that most small business owners number one priority and goal is growth. Everyone wants to grow their small business.
Topics: Financial Forecasting, Small Business Consulting, Scaling A Business, Growth Coach
Young and growing businesses rarely turn a profit – let alone manage to break even – right out of the gate. In fact, when we look beyond the estimated 50% failure rate for small businesses in their first five years, we find that it can still take the average surviving business several years to become profitable.
Topics: cash flow forecasting, Financial Forecasting, Cash Flow, Growth Coach
If you’ve been so preoccupied with running your business that year-end bookkeeping tasks have caught you off guard, don’t panic. Take a deep, calming breath and get ready to tackle those accounts with a plan for streamlining the process.
Topics: Year End Accounting, Outsourced Accounting, Outsourced Bookkeeping, Year End Bookkeeping
You have two choices when it comes to turning a bigger profit: increase your revenue, or cut your expenses. As a rule, we have far more control over how much we spend than we do over how much we earn. Which is why the most successful small business owners utilize dozens of practical methods for cutting costs and lowering their overhead. Here are three strategic money saving suggestions we think are well worth exploring.
Topics: Business Budgeting, Business Savings, Growth Coach
Did you know that almost every business follows a typical life cycle with regard to what it chooses to sell? The life cycles of products and services illustrate their growing or shrinking market positions, and are usually determined by how long they remain in demand.
Topics: Financial Forecasting, Small Business Growth, Growth Coach, Pricing
Tussling with time management? Struggling to move that new project forward? You’re not alone. A recent study listed managing project costs, hitting deadlines, and sharing information across teams as the biggest hurdles facing project managers in 2018.
Topics: Scaling A Business, Business Management, Growth Coach, Business Apps
Although marketing trends can be tough to keep up with, tried and true fundamentals really haven’t changed all that much. Perceptual mapping has been used in marketing research for decades. As such, it’s a valuable tool with the proven potential to help you out-market the competition.
Topics: Sales, Inbound Marketing, Growth Coach, small business marketing
We’ve said it before, but it’s well worth repeating: cash flow is the lifeblood of every successful business. It’s often a lack of liquidity, in fact – rather than a shortage of sales – that prevents newer companies from growing. One way to keep your business afloat during a cash flow shortfall is to sell your accounts receivable invoices to a factoring company. Factoring doesn’t come free, however. So here’s what you need to know before exploring it further.
Topics: Accounts Receivable, Cash Flow, Factoring, Factoring Invoices
With no software to install, moving your books to a cloud-based accounting program like QuickBooks Online offers a bounty of benefits – including the freedom to manage your finances from anywhere.
Topics: Small Business Bookkeeping, Outsourced Bookkeeping Services, Cloud Storage, Cloud-Based Accounting
Like many strategic business alliances, the advantages of investing in better vendor relations aren’t always immediately evident from a bottom line point of view. But the reality is that regardless of the business you're in, suppliers and service providers play a key role in keeping your company profitable.
Topics: Small Business Growth, Scaling A Business, Growth Coach, Vendor Relationships, Vendor Selection
