When you own and operate a small business, it’s easy to take the DIY mindset to heart. Doing things yourself is a terrific way to preserve capital and can be a very good practice. However, there come times when it ceases to be efficient to try your hand at something and makes more sense...
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Staying one step ahead of your competition is something most business owners list as a priority. One of the keys to making this happen is to understand your customer. Chances are good that most of your competitors know this too. So how do you pull ahead if you all have the customer figured out? ...
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Growing your company’s revenue is likely a priority for you as a business owner. Aside from just selling more or doing more, you can make some operational adjustments that can positively impact your cash flow. Here are three things to consider when you decide that cash flow is something you need to improve. Plan,...
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It’s a new year and it’s time to start working on all those resolutions. One of the most common is the desire to get finances in order and prepare for retirement. We all want to retire someday but without financial freedom, that can’t happen. So what is financial freedom? Quite simply, it is having...
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The goal of all small businesses is (or at least, it should be) to have the best possible profits while meeting the needs of its customers. If one of those components is out of whack, the business cannot succeed in the long term. Let’s assume that your business doesn’t have deep-pocketed backers who give...
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When it comes to running a small business, there is no shortage of advice on everything from soup to nuts. Even so, here are five things that business owners should at least consider if they want to have not just a business that gets by, but one that is wildly successful. Sell what the...
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We are all familiar with budgets: personal budgets to keep track of spending and income, household budgets that keep expenses on track and plan for improvements or even to help save for vacations. And there are business budgets. From mom and pop stores to multinational corporations, all enterprises need to have them and track...
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Earlier this year in its 2015 Year End Economic Report, the National Small Business Association found that small business owners reported optimism about their financial prospects going into 2016, with 45% indicating they expected their revenues to increase during the year. This was virtually unchanged from a year prior and indicated a relatively healthy...
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