Need Of The HourFor every business, there comes a time when a large amount of money is needed. New inventory, upgrades to systems, expansions no matter what you need working capital for, its bound to happen whether youve been in business for one year or one hundred years. As long as businesses have been around, so have banks and the business loan. So, its only natural that most business owners assume that when they need money, they head to the...more
Much has been said of the global market and that connectedness has made it necessary for business-owners to step up and improve their systems. Indeed, many businesses have made technology-based modifications in key aspects of the enterprise such as accounting, communications and human resources management. While these are proven to be efficacious in most cases, the extent to which modifications is effective in the business process is a variable...more
The Logic. If you dont have it, your business cant grow. But, getting your business cash flow organized can sometimes be harder than it seems. When the cash thats coming in and the cash thats going out dont balance you find yourself in a cash flow gap which can be hard to climb out of.The PlungeA cash flow gap is a very common problem for new or small businesses which balance from day to day on the receivables and invoices. Each expense, no matter if its inventory or services, have to be paid for before you can get paid. This can create a problem if you dont have the cash flow to support these gaps in payment. So, how do you manage your business cash flow so you can begin to pull yourself out of this slump?The SaviorHere are a few tips and ideas to help you:Keep a tight reign on bookkeeping and your cash flow. Know everything that comes in and out so you can start to predict when cash flow problems might arise and how you can fix them before they get out of hand. A great way to keep an eye on your business cash flow is to balance your business books at the end of each month.If your business allows customers to be billed for your services or products, then make sure that you have an...more
SpotlightWhen you finally grow to the point that you need an accountant and not just the local tax place each tax season, you might be a little worried about choosing the right one. How do you know if they can do what they say they can, how do you know if they have experience dealing with your industry, and so on. There are tons of questions that...more
Learn The Brass TacksWhen its time to design your business web site, do you feel comfortable creating a flashy, customer-grabbing site? Or, is this an area where you arent an expert? Well, have no fear. There are a ton of experts out there that can create some brilliant web sites for you. Here is the trick finding the right one! Finding the right...more
When you begin a small business , you have to go through several steps to get all the licenses, funding, inventory, and other things that you need to get your business started. And, for many business owners, creating a business plan is one of those things that can be intimidating from the very beginning. Most business owners dont even know what a business plan is, much less how to write one. It is a necessity that every business owner needs to have.The QueryJust what is a business plan? A business plan is a set of business goals, ideas, and statements that are set in a formal document and contain everything about your business. This includes how your business is set up, who will run it, what service or good you offer, and even what you expect your business to gross the first year. A business plan will tell anyone all the background information about your business as well as your goals and how you plan to reach them.The TacticBefore you sit down to write your business plan, you need to determine who you are writing it for. Most business plans fall into two main categories: external and internal. External business plans are created for people that could be potential investors,...more
Are you considering lending money for your small business? Heres the crystal maze to observe.Lenders Criteria For A Business LoanBefore lenders will grant a business loan, , they need to ensure that the loan will be repaid. When deciding whether or...more
Youve heard your credit score and underlying history is one of your most vital parts of your financial life. Your credit report is actually a detailed history of your credit information. It will contain current credit information, balances,...more
Armed with a solid business plan, you march into a bank & walk out disappointed when the bank says, NO.The Dilemma In These Times Of RecessionSmall business owners can improve their chances of finding a loan if they understand three things:-Find out...more
There is a saying that without advertising, nothing happens. The problem that many businesses face, however, is the fact that there are so many different types of advertising that are available. This is especially true now that the Internet has...more
If there is one thing that is constant about operating a business, it is the fact that you can expect changes to occur on a regular basis. That is why it may be necessary for you to adjust your business model from time to time in order to remain in...more
Pinterest is the latest social media craze. Its high volume of users, activity and resulting buzz have now ranked the social network in position 3 behind only Twitter and Facebook. It is therefore no surprise then that marketers would like to get...more