It’s an inevitability in every business – you have to raise your prices to continue making a profit. There are many factors that go into deciding how much to charge, all of which are dynamic. The rising cost of goods, inflation, and a changing market are just a few reasons why any small business has to reevaluate its rates regularly to stay competitive (and to stay in business). When… Read more
eCommerce is growing rapidly, and recent research estimates that it will make up over 22% of global retail sales by 2023. With these statistics and the changes COVID-19 has brought, it’s more important than ever to take your retail business online if you want to stay competitive. It adds another revenue stream and keeps your business humming even while your brick and mortar doors are closed. In this article, we… Read more
There are all kinds of groups dedicated to networking. Some are highly structured with performance requirements, exclusive membership, and the payment of dues. Others are free form, come as you please, and no charge. Not every group is right for every kind of business. You will find that some groups may simply not have connections in the market you are seeking to attract. You will find some groups have rules… Read more
If you’re a small business owner whose company hasn’t gone through hard times, that’s great but it’s likely to happen at some point. As much as we dream about being brilliant enough at business that we’ll never face slow times, there are many things beyond our control that can negatively affect our business. It’s highly likely that the Coronavirus and it’s resulting impacts, could put some significant pressure on your… Read more
The daily processes and transactions involved in operating a business can mean long hours of repetitive tasks and occasional oversights due to human nature. Automating these tasks can result in significant savings in resources and eliminate mistakes caused by human error. The key, however, is to know which tasks should be automated and which ones warrant staff intervention and guidance. Let’s take a look at some of them. Here are… Read more
Sure, you may have a loyal customer base, but there are also ways to guarantee loyalty month after month or year after year. Adding a recurring revenue stream (or two, or three!) can provide a predictable, ongoing source of income which will improve the accuracy of your projections, increase profits, and provide a buffer for any unexpected sales dips. Here are four easy product offerings to begin earning recurring revenue… Read more
If you haven’t been in business long, it can be tough to qualify for a loan. Lenders want to see a detailed business plan, backed by income and cash flow statements, that prove you’re a good risk. Often strict lending requirements can freeze out new businesses when they need funding the most. Crowdfunding offers an exciting funding alternative for businesses. Originally the domain of filmmakers, musicians and artists, crowdfunding is… Read more
For bootstrapping young businesses, making a professional first impression as you build your brand is key. Although hiring a branding expert may be too large an expense in the early days, you can still help your business stand out in the best possible way without breaking the bank. Just follow these simple marketing moves that will help people to know, like, and trust you. 1. Build credibility with your own… Read more
Most small business owners who use accounting software quickly master the basics. They automate processes like invoicing and payroll, track expenses and view real time financial reports to manage cash flow and make better business decisions. But what many business owners don’t take advantage of are key insights that can improve customer care and increase sales. Here are some smart ways you can use your accounting software to help boost… Read more
Local search engine optimization (SEO) is an important part of any online marketing strategy for traditional businesses which service a specific geographical area. Local SEO works in much the same way as normal SEO, although there are some important differences to consider. Taking the time and trouble to optimize your website for local is essential due to the fact that about a fifth of desktop queries and more than half… Read more