April 15 may be closer than you think. Though tax preparation may not be the best aspect of owning a business and many businesses do pay quarterly, Spring is definitely the time of year that most small business owners start to think (or worry) about their personal taxes.
Before the idea of tax time makes you nervous or anxious, keep in mind that there are some simple things you can do to make this inevitable process easier.
* Shop around for help. There are many vendors that offer professional tax assistance. Some might be CPAs, while others will be specialists dedicated to handling only tax-related issues. Shop around, and compare the various offers and the reputations of any possible vendor. Check references, and pay heed to any personal recommendations you might receive from other business owners. Reputation is an important indicator of the level of service you might expect to receive. Find someone who has experience, especially if your situation has any specific complications to consider. The most important thing to remember here is that you do have many options to choose from and it is up to you to find the vendor that best fits your particular needs.
* Compile relevant documents. A major part of being prepared for tax-time is having all your "ducks-in-a-row." This means that you will need to spend time to compile and organize all of the relevant documents and receipts. You know that your tax preparer and the IRS will be asking for them, so you can reduce stress and increase your feeling of control by taking the initiative to have all of this information collected, organized, copied, and ready to go.
Sunday, December 20, 2009
Wednesday, December 9, 2009
Innovation on a Small Business Man's Budget
One of the biggest advantages of small business is that they can move at lightning speed, but only if they realize that. Many small businesses throw away this advantage and hesitate due to the risks that they perceive. Some of these risks maybe real, but often they are merely fear (F-E-A-R = False Expectations Appearing Real).
What small businesses may not comprehend is that they can quickly recover from a mistake and move on, taking what they have learned with them, thus, doubling their chances for success next time they try something similar.
It is this type of tinkering with their business models, products, services and marketing that often allows them to "get lucky." (Luck = when opportunity meets preparedness). A small business that tries new things and is constantly innovating will find themselves able to adapt quickly when a customer requests something out of the ordinary.
This is because each time they try new things they learn their limits, abilities and of new possibilities as well. Small businesses have a huge advantage, because they are agile and without bureaucracy, thus, they can easily outpace their corporate competitors in their niches.
In fact, it is usually the small businesses that do most of the innovation and the corporations that buy these ideas, small businesses or copy what they are doing. Why do they steal and copy ideas? Well, because they work.
A smart corporation will try to be innovative and to their credit they do come up with some cool innovations in the market place, but certainly not the majority of the ideas or concepts, especially the ones that really change the industry. So, please consider this.
What small businesses may not comprehend is that they can quickly recover from a mistake and move on, taking what they have learned with them, thus, doubling their chances for success next time they try something similar.
It is this type of tinkering with their business models, products, services and marketing that often allows them to "get lucky." (Luck = when opportunity meets preparedness). A small business that tries new things and is constantly innovating will find themselves able to adapt quickly when a customer requests something out of the ordinary.
This is because each time they try new things they learn their limits, abilities and of new possibilities as well. Small businesses have a huge advantage, because they are agile and without bureaucracy, thus, they can easily outpace their corporate competitors in their niches.
In fact, it is usually the small businesses that do most of the innovation and the corporations that buy these ideas, small businesses or copy what they are doing. Why do they steal and copy ideas? Well, because they work.
A smart corporation will try to be innovative and to their credit they do come up with some cool innovations in the market place, but certainly not the majority of the ideas or concepts, especially the ones that really change the industry. So, please consider this.
Wednesday, December 2, 2009
Unsecured Small Business Loan - What to Expect
Are you a business owner that needs a loan to help you grow or just to get by? Do you need this loan to be unsecured because you do not have collateral to put up? There are ways to get a unsecured small business loan without too much hassle. Here are some options to help you out.
First, you can start by looking for a private investor. These are usually doctors, lawyers, other business owners, or anybody that is successful and has some money to invest. They will want to see your business plan, know what you are using the money for, and they might even want a profit sharing in your company. It all depends on the investor and what you can work out.
Second, you can use Prosper online to find your business loan. They allow you to sign up and get a credit rating. Then, you can post a listing and tell all the potential lenders what you are after and how you plan to pay back the loan. This is a great option if you do not need anymore than $25,000.
Last, if you want to try to get money a little faster and you have a great credit score, then going to your bank is a great option. You can get a unsecured small business loan from your bank if you have a good standing with them, good credit, and you can pay the loan back pretty easily. This will qualify you for what you need with most banks.
First, you can start by looking for a private investor. These are usually doctors, lawyers, other business owners, or anybody that is successful and has some money to invest. They will want to see your business plan, know what you are using the money for, and they might even want a profit sharing in your company. It all depends on the investor and what you can work out.
Second, you can use Prosper online to find your business loan. They allow you to sign up and get a credit rating. Then, you can post a listing and tell all the potential lenders what you are after and how you plan to pay back the loan. This is a great option if you do not need anymore than $25,000.
Last, if you want to try to get money a little faster and you have a great credit score, then going to your bank is a great option. You can get a unsecured small business loan from your bank if you have a good standing with them, good credit, and you can pay the loan back pretty easily. This will qualify you for what you need with most banks.
Tuesday, November 24, 2009
IRS Tax Problems - Your Small Business in IRS Trouble? Get a Second Chance With the IRS
Watchful Eye: You can't escape the IRS. If you make a small bookkeeping error, the IRS will know. One of the most common mistakes is misclassifying an employee as an independent contractor. If you're found guilty of this, you face severe penalties. But there is good news. The IRS offers a second chance for people who make mistakes.
Steps to Take:
-Fill out form 4670, "Request for Relief from Payment on Income Tax."
-Fill out Form 4669 "Statement of Payments Received"
-Provide Documents supporting your case
Friendly Note:
An employer will not owe employment taxes for misclassified workers if they meet all three requirements described in Sect. 530:
The employer must have reasonable basis for not treating the workers as employees
The employer must have treated the workers and any similar workers as independent contractors for all applicable periods
The employer must have filed Form 1099 MISC (Miscellaneous Income), for each worker, if required
Watch your Back: The Section 530 relief provision doesn't apply in some cases. If you're a worker who provides technical services for the client as a drafter, computer programmer, or engineer, or any other skilled worker in a similar field, the provision will not apply for you. So be careful!
And Remember: Don't be embarrassed about seeking help. No one ever said the IRS was easy. In fact, most people don't fully understand the IRS. To be honest with you, even the Commissioner doesn't know everything about the IRS. Make sure you get reliable, realistic help so that you have less to worry about.
Steps to Take:
-Fill out form 4670, "Request for Relief from Payment on Income Tax."
-Fill out Form 4669 "Statement of Payments Received"
-Provide Documents supporting your case
Friendly Note:
An employer will not owe employment taxes for misclassified workers if they meet all three requirements described in Sect. 530:
The employer must have reasonable basis for not treating the workers as employees
The employer must have treated the workers and any similar workers as independent contractors for all applicable periods
The employer must have filed Form 1099 MISC (Miscellaneous Income), for each worker, if required
Watch your Back: The Section 530 relief provision doesn't apply in some cases. If you're a worker who provides technical services for the client as a drafter, computer programmer, or engineer, or any other skilled worker in a similar field, the provision will not apply for you. So be careful!
And Remember: Don't be embarrassed about seeking help. No one ever said the IRS was easy. In fact, most people don't fully understand the IRS. To be honest with you, even the Commissioner doesn't know everything about the IRS. Make sure you get reliable, realistic help so that you have less to worry about.
Wednesday, November 18, 2009
How to Determine Small Business Client Acquisition Costs and More Importantly Why Should You Know
What does it cost you to acquire and maintain a client?
During my 25 years in business, I am continually surprised that small business owners, entrepreneurs, sales personnel and even executives in larger organizations cannot quickly identify what it is costing the organization to secure new clients and to maintain existing ones. Ongoing efforts through a variety of vehicles including marketing, referrals and cold calling are never truly measured to accurately determine client acquisition cost(CAC). Without knowing CAC, you are ignoring return on your investment (ROI) for not only your fixed marketing costs, but more importantly your customer relationship management focus may be on the wrong customers.
So how do you determine client acquisition cost?
Simply speaking for every client, you delineate all costs associated to initially acquiring that client outside of fixed asset costs such as utilities, rent, equipment, support salaries, etc. This becomes the initial customer acquisition cost and serves as a base.
Then you total up all the sales for the most recent year or quarter, if you prefer, along with the gross profit (total sales less costs of direct products and services). Also in a separate column, total up any new client acquisition costs. New client acquisition costs include sales personnel salaries and all those expenses associated with customer relationship management or CRM. Then add initial client acquisition costs to any new client acquisitions costs and subtract the gross profit from this total. The resulting sum whether positive or negative is your current return on investment in dollars.
Now you have established your baseline for return on investment. Next keep track of all referrals from each client including the gross profit sales as well as gross sales. What you will see that in many cases a client may have a substantial negative return on investment especially if you are trying to get your foot in the door or make a name for your company. However as sales and referrals grow that negative return on investment should turnaround and become a positive one.
The real purpose of this article and activity is for you as the small business owner to begin to measure and then manage your ever growing customer base. Without knowing your CAC, you could be investing thousands of dollars in clients who have low return on investment and potentially ignoring those clients whose value was unknown. And in some cases, you may need to fire a client because the additional CAC is draining your bottom line. Again taking from a very old adage, if you can't measure it, you can't manage it.
During my 25 years in business, I am continually surprised that small business owners, entrepreneurs, sales personnel and even executives in larger organizations cannot quickly identify what it is costing the organization to secure new clients and to maintain existing ones. Ongoing efforts through a variety of vehicles including marketing, referrals and cold calling are never truly measured to accurately determine client acquisition cost(CAC). Without knowing CAC, you are ignoring return on your investment (ROI) for not only your fixed marketing costs, but more importantly your customer relationship management focus may be on the wrong customers.
So how do you determine client acquisition cost?
Simply speaking for every client, you delineate all costs associated to initially acquiring that client outside of fixed asset costs such as utilities, rent, equipment, support salaries, etc. This becomes the initial customer acquisition cost and serves as a base.
Then you total up all the sales for the most recent year or quarter, if you prefer, along with the gross profit (total sales less costs of direct products and services). Also in a separate column, total up any new client acquisition costs. New client acquisition costs include sales personnel salaries and all those expenses associated with customer relationship management or CRM. Then add initial client acquisition costs to any new client acquisitions costs and subtract the gross profit from this total. The resulting sum whether positive or negative is your current return on investment in dollars.
Now you have established your baseline for return on investment. Next keep track of all referrals from each client including the gross profit sales as well as gross sales. What you will see that in many cases a client may have a substantial negative return on investment especially if you are trying to get your foot in the door or make a name for your company. However as sales and referrals grow that negative return on investment should turnaround and become a positive one.
The real purpose of this article and activity is for you as the small business owner to begin to measure and then manage your ever growing customer base. Without knowing your CAC, you could be investing thousands of dollars in clients who have low return on investment and potentially ignoring those clients whose value was unknown. And in some cases, you may need to fire a client because the additional CAC is draining your bottom line. Again taking from a very old adage, if you can't measure it, you can't manage it.
Wednesday, November 11, 2009
Business Plans For Small Business - 3 Compelling Reasons Why You Must Have One
Business plans for small business people is an interesting phenomenon. Most business owners know they should have one but various research indicates only about 56% of small business enterprises has a current one. This article discusses 3 compelling reasons why you should have one if business success is your prime motivation, which is must be for all of us with our own business.
Read on to uncover the myths of business planning and the easy solutions to create one.
MYTH NUMBER 1: Business Plans for Small Business People Seem Difficult to Construct
After personally completing over 146 business plans for many companies big and small, I have seen the difference it can make in a switched on organization. The most effective plans are those that only take about a day to fully construct. Any more than this the plan is likely to be too long, too complex and harder to implement.
So would you take one day a year or even each quarter to construct a relevant specific plan that will provide motivation to you and your team, strategic direction on what you need to implement, and to give you a much higher percentage chance of attaining business success?
Now there are some great resources and tools on the market that makes creating a new plan such an easy way to go. These are neither expensive nor time consuming so really there is no excuse for not doing one.
MYTH NUMBER 2: Business Plans Implementation is often neglected
Business plans for small business are easy to implement if you look at the following structure. The best way to implement your new plan is to complete a yearly one of only 5-12 pages depending on the complexity of your small business.
Then create a quarterly 90 day plan which is only 2 pages long every quarter. This makes planning a breeze.
The longer yearly plan sets the goals and gives more detail but the shorter plan is just as powerful as it is the action plan needed for implementation.
The best results in implementing strategy is when you look at your 90 day plan of action each week and put time aside of about 3 hours a week to plan and take action.
This means you have a yearly focus broken down to quarters but implementation is done weekly. A sure fire rapid way to achieve maximum business success.
MYTH NUMBER 3: To Start Planning Seems Difficult
Planning is essential for success. Even the statistics shows over 70% of businesses that succeed over a 5 year period have a written plan. Conversely the 80% plus statistic of business failure shows a very low percentage of people in this category have a written plan.
Bottom line: You are absolutely more likely to succeed if you have a current written plan or you are more likely to fail if you have not.
To start planning just look for a business planning template online and get started. These days a better option is to purchase for a very small fee planning software that even has what others in your industry have completed before you. This makes it extremely easy to plan successfully as you use the example for a guideline and change it to suit your individual circumstances.
Business plans for small business are easy to implement if you use the right tools, cheap to construct and a vital skill for you to reach the heights of success you deserve. If the fruits of your labour are currently now what you desire, then I commend you for completing a powerful business plan of action so you can rightly reap the rewards of all of your hard work.
Read on to uncover the myths of business planning and the easy solutions to create one.
MYTH NUMBER 1: Business Plans for Small Business People Seem Difficult to Construct
After personally completing over 146 business plans for many companies big and small, I have seen the difference it can make in a switched on organization. The most effective plans are those that only take about a day to fully construct. Any more than this the plan is likely to be too long, too complex and harder to implement.
So would you take one day a year or even each quarter to construct a relevant specific plan that will provide motivation to you and your team, strategic direction on what you need to implement, and to give you a much higher percentage chance of attaining business success?
Now there are some great resources and tools on the market that makes creating a new plan such an easy way to go. These are neither expensive nor time consuming so really there is no excuse for not doing one.
MYTH NUMBER 2: Business Plans Implementation is often neglected
Business plans for small business are easy to implement if you look at the following structure. The best way to implement your new plan is to complete a yearly one of only 5-12 pages depending on the complexity of your small business.
Then create a quarterly 90 day plan which is only 2 pages long every quarter. This makes planning a breeze.
The longer yearly plan sets the goals and gives more detail but the shorter plan is just as powerful as it is the action plan needed for implementation.
The best results in implementing strategy is when you look at your 90 day plan of action each week and put time aside of about 3 hours a week to plan and take action.
This means you have a yearly focus broken down to quarters but implementation is done weekly. A sure fire rapid way to achieve maximum business success.
MYTH NUMBER 3: To Start Planning Seems Difficult
Planning is essential for success. Even the statistics shows over 70% of businesses that succeed over a 5 year period have a written plan. Conversely the 80% plus statistic of business failure shows a very low percentage of people in this category have a written plan.
Bottom line: You are absolutely more likely to succeed if you have a current written plan or you are more likely to fail if you have not.
To start planning just look for a business planning template online and get started. These days a better option is to purchase for a very small fee planning software that even has what others in your industry have completed before you. This makes it extremely easy to plan successfully as you use the example for a guideline and change it to suit your individual circumstances.
Business plans for small business are easy to implement if you use the right tools, cheap to construct and a vital skill for you to reach the heights of success you deserve. If the fruits of your labour are currently now what you desire, then I commend you for completing a powerful business plan of action so you can rightly reap the rewards of all of your hard work.
Wednesday, November 4, 2009
Small Business Marketing Tip - Focus on a Niche or Target Market
I think selling and marketing today often feels a bit like talking to a brick wall and that in interesting metaphor to help grasp the importance of niche marketing especially when it comes to small business marketing. Imagine for a moment that you are attacking that brick wall with a hammer, randomly hitting it everywhere. What would be the effect? Practically no effect at all. You might knock off a few chips but come back a day or so later, there will be no evidence you were even there.
And that’s the effect of any broad marketing and advertising campaign. You may make the odd sale, but overall nothing will happen and a day or so later people will not even remember your name. But back to that wall again, imagine you took a different strategy. Instead of hitting all over the wall, you concentrated on just one brick, or you searched the wall to find a brick that was already weak. Now you are going to have a much better result.
And that’s really the secret to small business marketing. Without the resources to reach millions of people, you have to concentrate your efforts on a small tightly defined market or research the market carefully and identify a small group with a similar urgent problem you can solve. Lets face it few small businesses are going to become global household names and even if they did, most simply don’t have the capacity or the desire to support a huge market. Amazon.com may have been built in a garage but it was backed by a $300,000 investment and plans to build an international distribution business.
I have friends in the speaking business who deal only with dentists, yet their business turns over millions of dollars a year. In their market they have a huge presence and high reputation. They know everyone and everyone knows them.
The strategy is simple - Define a clear niche for yourself and set out to OWN it.
1. A niche you have a passion for, that you love being part of
2. A market of people you want to do business with
3. Only do business with people you like
4. Find businesses or people who have common problem’s you can solve
5. Look for people who are likely to know each other
6. Seek networks of people who regularly meet each other
A niche doesn’t have to be local to you. It can be global as long as it meets most of the criteria above. Once you have selected your niche its much easier to identity the magazines people read, the trade shows they visit, the conferences and networking meetings they attend, the places they meet, directories they are listed in, the online forums they are members of etc., and become a part of that community yourself.
By working in a niche market you will quickly become an expert in solving their unique problems. You will understand their jargon. You will be talked about and recommended by people when they get together. You can establish relationships with editors and webmasters in the market and built a guru status.
More importantly you will be much more able to customise your products and services to the specific needs of your niche market and demonstrate not only that you understand them, but that you care. All business marketing is ultimately about relationship building but that is so much easier for a niched small business because you can be much closer to the issues and you are able to adapt to changes more easily.
And that’s the effect of any broad marketing and advertising campaign. You may make the odd sale, but overall nothing will happen and a day or so later people will not even remember your name. But back to that wall again, imagine you took a different strategy. Instead of hitting all over the wall, you concentrated on just one brick, or you searched the wall to find a brick that was already weak. Now you are going to have a much better result.
And that’s really the secret to small business marketing. Without the resources to reach millions of people, you have to concentrate your efforts on a small tightly defined market or research the market carefully and identify a small group with a similar urgent problem you can solve. Lets face it few small businesses are going to become global household names and even if they did, most simply don’t have the capacity or the desire to support a huge market. Amazon.com may have been built in a garage but it was backed by a $300,000 investment and plans to build an international distribution business.
I have friends in the speaking business who deal only with dentists, yet their business turns over millions of dollars a year. In their market they have a huge presence and high reputation. They know everyone and everyone knows them.
The strategy is simple - Define a clear niche for yourself and set out to OWN it.
1. A niche you have a passion for, that you love being part of
2. A market of people you want to do business with
3. Only do business with people you like
4. Find businesses or people who have common problem’s you can solve
5. Look for people who are likely to know each other
6. Seek networks of people who regularly meet each other
A niche doesn’t have to be local to you. It can be global as long as it meets most of the criteria above. Once you have selected your niche its much easier to identity the magazines people read, the trade shows they visit, the conferences and networking meetings they attend, the places they meet, directories they are listed in, the online forums they are members of etc., and become a part of that community yourself.
By working in a niche market you will quickly become an expert in solving their unique problems. You will understand their jargon. You will be talked about and recommended by people when they get together. You can establish relationships with editors and webmasters in the market and built a guru status.
More importantly you will be much more able to customise your products and services to the specific needs of your niche market and demonstrate not only that you understand them, but that you care. All business marketing is ultimately about relationship building but that is so much easier for a niched small business because you can be much closer to the issues and you are able to adapt to changes more easily.
Friday, October 30, 2009
Small Business Consulting Services
Investing your hard earned money in any venture is an exciting, yet formidable task. At the very onset, it is imperative to be clear about what to you want to achieve, where you want to divert funds and how you want to run the show. At the same time, you would obviously want to measure your success against set plans and goals, maintaining all accounts in the most efficient and effective manner. We at KNR are here to do all that and a lot more for you.
KNR provides the A to Z of Small Business Consulting Services . Be it basic business consulting services or complex corporate economics, investment options or market research, small business accounting software or database management, KNR will guide you through it all.
Every business set up has its unique needs. Every entrepreneur intends accomplishing certain goals in a set time frame. Setting up a business, can be a tedious job if you do not have adequate knowledge about the market scenario, economic climate or basic accounting techniques. We help you bridge the gap between where you are and where you want to be.
KNR 's Small Business Consulting Services provide you with the mortar to build your dreams on a strong foundation. We help you with not just the basic knowledge of the "how- to" of setting up your small business, but also guide you about how to maintain a lead in the economic zone, giving you a competitive edge over others in your domain.
We understand your needs and through our business consulting services , we guide you efficiently in initiating your venture's development and also chalk out ways to help you build upon it further, while adding to its financial value. Our job does not end at helping you set up your business; we walk you through the entire process of setting it up as well as developing it further and help you in maintaining a lead in the business world.
At KNR , our motto is to provide you with the best knowledge, the best approach, and the best techniques to make your business the best it can be. We provide you with detailed business plans, marketing strategies, small business accounting software and market research, all under one roof.
An important aspect of any business is "funds". Capital is one of the main inputs in any business structure. From the initial investment to the day to day working, capital is required at all steps to keep all operations running smoothly without any hiccups. For someone who's not well versed with the corporate world, the idea of putting all your life's earnings into a business plan can be quite nerve wrecking. We know how important it is for you to be sure about what you're investing in, how you're going to meet targets, whether it will be profitable or not, how long would it take for you to start getting returns on your investment, what would be the right time to launch your business, how much added capital would you require to keep the financial machinery working, how favorable is the market situation for your business purposes etc. Our consultants will provide you with all the information that you need to have before and after the sailing of your venture.
We formulate plans and strategies for you to invest your capital in the most profitable manner and also in the most effective manner, so that you're able to achieve maximum benefits with minimum input. In order to do that, maintaining a reliable accounting record of all revenues and expenses is of primary importance.
Small Business Accounting Software
Accounting plays a pivotal role in a small business' success. You need to be aware at all times where your funds are being invested and what your returns are. Most accounting software can be quite confusing if one doesn't know the basics. With myriads of small business accounting software packages available in the market, choosing the best software for your business can be quite confusing. But with KNR , you can take care of your business most ably, because we will guide you in choosing the right small business accounting software , keeping your business needs in mind.
We know how important it is for you to be able to keep track of all investments and the standing of your business. KNR provides you with all possible information that you need to run your business smoothly. We assist you in not just setting up your venture, but also in increasing your "totals" by providing you the best business strategies, relevant market research and continued backup during your business cycles.
Small Business Consulting requires a good understanding of the nitty-gritty's of small business ventures. It is important to understand the importance of formulating business plans according to the limitations of resources. Our small business consultants will provide you with specialized services that are tailor made for small businesses. Our consultants will help you in setting up, as well as understanding the entire gamut of business plans, strategies and business analysis.
KNR provides the A to Z of Small Business Consulting Services . Be it basic business consulting services or complex corporate economics, investment options or market research, small business accounting software or database management, KNR will guide you through it all.
Every business set up has its unique needs. Every entrepreneur intends accomplishing certain goals in a set time frame. Setting up a business, can be a tedious job if you do not have adequate knowledge about the market scenario, economic climate or basic accounting techniques. We help you bridge the gap between where you are and where you want to be.
KNR 's Small Business Consulting Services provide you with the mortar to build your dreams on a strong foundation. We help you with not just the basic knowledge of the "how- to" of setting up your small business, but also guide you about how to maintain a lead in the economic zone, giving you a competitive edge over others in your domain.
We understand your needs and through our business consulting services , we guide you efficiently in initiating your venture's development and also chalk out ways to help you build upon it further, while adding to its financial value. Our job does not end at helping you set up your business; we walk you through the entire process of setting it up as well as developing it further and help you in maintaining a lead in the business world.
At KNR , our motto is to provide you with the best knowledge, the best approach, and the best techniques to make your business the best it can be. We provide you with detailed business plans, marketing strategies, small business accounting software and market research, all under one roof.
An important aspect of any business is "funds". Capital is one of the main inputs in any business structure. From the initial investment to the day to day working, capital is required at all steps to keep all operations running smoothly without any hiccups. For someone who's not well versed with the corporate world, the idea of putting all your life's earnings into a business plan can be quite nerve wrecking. We know how important it is for you to be sure about what you're investing in, how you're going to meet targets, whether it will be profitable or not, how long would it take for you to start getting returns on your investment, what would be the right time to launch your business, how much added capital would you require to keep the financial machinery working, how favorable is the market situation for your business purposes etc. Our consultants will provide you with all the information that you need to have before and after the sailing of your venture.
We formulate plans and strategies for you to invest your capital in the most profitable manner and also in the most effective manner, so that you're able to achieve maximum benefits with minimum input. In order to do that, maintaining a reliable accounting record of all revenues and expenses is of primary importance.
Small Business Accounting Software
Accounting plays a pivotal role in a small business' success. You need to be aware at all times where your funds are being invested and what your returns are. Most accounting software can be quite confusing if one doesn't know the basics. With myriads of small business accounting software packages available in the market, choosing the best software for your business can be quite confusing. But with KNR , you can take care of your business most ably, because we will guide you in choosing the right small business accounting software , keeping your business needs in mind.
We know how important it is for you to be able to keep track of all investments and the standing of your business. KNR provides you with all possible information that you need to run your business smoothly. We assist you in not just setting up your venture, but also in increasing your "totals" by providing you the best business strategies, relevant market research and continued backup during your business cycles.
Small Business Consulting requires a good understanding of the nitty-gritty's of small business ventures. It is important to understand the importance of formulating business plans according to the limitations of resources. Our small business consultants will provide you with specialized services that are tailor made for small businesses. Our consultants will help you in setting up, as well as understanding the entire gamut of business plans, strategies and business analysis.
Friday, October 23, 2009
Small Business and Internet Selling Advantages, Disadvantages and How to Create Wealth
I want to give you three secrets to help you think of your business differently and how you present it to others. Before I get into the rethinking of how to grow your business, let me ask you a question what are you thinking when you script in your mind how to approach your prospective client or customer? What I mean by this, are you asking the right questions? Or are you thinking how great your product is and once you tell everyone about all of the benefits, it will sell itself? If this is the position you have chosen, this may or may not have worked for you, but I would like to give you examples of a proven way to attract prospects to you and help you build lasting business relationships.
When I first decided to become self-employed I sat down and came up with the perfect plan for success or at least in my mind it was perfect. I took out a note book and I wrote down all the things I wanted to accomplish and attached a time frame and said to myself "Ready- Set- Go!" and as you can imagine I was pumped up with all this energy and enthusiasm and the phone calls trickled in and the email responses where coming but slowly. I found myself almost begging for business and trying to convince people how great I' am. I achieved establishing some creditability and began slowly receiving referrals but soon realized that my happy dream of entrepreneurship was becoming stressful and frustrating but I pressed on, because I have always been taught that hard work will create a successful business, but I was working harder than I probably should have.
My plan was to talk to as many people as I could and introduce my service to everyone I encountered, kind of like throwing spaghetti on the wall and seeing if it sticks. One day I woke up staring at the ceiling and thinking to myself, there has got to be a better way. I enjoy meeting and talking to people but I don't enjoy feeling as if I'm forcing myself on anyone, which made the field of work I'd chosen unpleasant and un-enjoyable, so I read every book I could read on growing my business and networking. A lot of what I read seemed to confirm that the only way to connect to my targeted market was by doing exactly what I was already doing, this was extremely upsetting and again frustrating for me, because I felt that I was not giving the maximum amount of people the advantages of my service nor was I utilizing my time wisely enough. Until I researched the different ways to market effectively outside of and on the internet.
First secret I picked up on was creating a database of information from individuals looking for my service. Clients who already know about what I offer before I even talk to them, this is awesome!
Second Secret was how to be a giver while networking.
Third Secret was how to build business relationships that lasted.
There are many other avenues but these three are at the top of the list, this is where I focus a major part of my attention, within the first week of implementing this system I experienced exponential results. My daily outlook is positive and I look forward to checking my messages, replying to my emails and setting up meetings.
When I first decided to become self-employed I sat down and came up with the perfect plan for success or at least in my mind it was perfect. I took out a note book and I wrote down all the things I wanted to accomplish and attached a time frame and said to myself "Ready- Set- Go!" and as you can imagine I was pumped up with all this energy and enthusiasm and the phone calls trickled in and the email responses where coming but slowly. I found myself almost begging for business and trying to convince people how great I' am. I achieved establishing some creditability and began slowly receiving referrals but soon realized that my happy dream of entrepreneurship was becoming stressful and frustrating but I pressed on, because I have always been taught that hard work will create a successful business, but I was working harder than I probably should have.
My plan was to talk to as many people as I could and introduce my service to everyone I encountered, kind of like throwing spaghetti on the wall and seeing if it sticks. One day I woke up staring at the ceiling and thinking to myself, there has got to be a better way. I enjoy meeting and talking to people but I don't enjoy feeling as if I'm forcing myself on anyone, which made the field of work I'd chosen unpleasant and un-enjoyable, so I read every book I could read on growing my business and networking. A lot of what I read seemed to confirm that the only way to connect to my targeted market was by doing exactly what I was already doing, this was extremely upsetting and again frustrating for me, because I felt that I was not giving the maximum amount of people the advantages of my service nor was I utilizing my time wisely enough. Until I researched the different ways to market effectively outside of and on the internet.
First secret I picked up on was creating a database of information from individuals looking for my service. Clients who already know about what I offer before I even talk to them, this is awesome!
Second Secret was how to be a giver while networking.
Third Secret was how to build business relationships that lasted.
There are many other avenues but these three are at the top of the list, this is where I focus a major part of my attention, within the first week of implementing this system I experienced exponential results. My daily outlook is positive and I look forward to checking my messages, replying to my emails and setting up meetings.
Friday, October 16, 2009
17 Ways to Make Your Small Business More Earth Friendly
Whether or not you believe global warming could be the end of civilization, there are other compelling reasons to take action to be environmentally friendly in your business. Respect for the planet and life all around you is the most basic of those reasons, but here are three others: it will reduce your costs, increase your efficiency, and add to your USP (unique selling position).
(Be sure to read all the way to the bottom where I've included links you can use to get listed in green directories, join campaigns, and add credibility to your site if you're running a green business.)
Let's start this article with a friendly disclaimer. I am aware that not everyone agrees with Al Gore, Leo DiCaprio, Al Sharpton or Pat Robertson. If you don't believe global warming could be the end of civilization, there are other compelling reasons to take action to be environmentally friendly in your business.
Respect for the planet and life all around you is the most basic of those reasons, but here are three others: it will reduce your costs, increase your efficiency, and add to your USP (unique selling position).
By following the familiar reduce, reuse, and recycle mantra you can save financially, which will allow you to invest more into growing your business or free up family finances.
You can increase your efficiency and get more organized by making small "green" changes such as printing less. For example, fewer piles of overflowing paper will make it easier to keep that working space clean and uncluttered so you can stay focused.
Sharing that you care, whether it's about the planet, the people, or some other angle, or some other cause entirely, helps you connect with your market and become more "real" than just a hidden person behind a faceless website. It's okay to allow your personality and passions to shine through your website and marketing. In fact, it's smart marketing!
So with those benefits in mind, here are some small steps you can take to make your business greener:
1) Reduce the amount of paper you use. Before you print, think. Do you *really* need to print out that email or document? If you just need a backup copy, pick up an inexpensive USB thumb drive and use it to save copies of important files.
2) Reuse and recycle. Keep a small box or tray for paper that you've printed on but no longer need and announce to your children that they are welcome to color, paint, cut, etc with the paper. Kids don't mind recycled paper and some really creative projects can result from paper that's already been used.
3) Buy EnergyStar appliances. Watch the energy usage on any appliances you purchase--computers, sergers, sewing machines--whatever tools are required for your trade. Always turn them off when not in use.
4) Go paperless for billing. Many business models easily lend themselves to e-billing. If yours does, do it. It will save you not only paper/envelopes, but also time and postage. Bills get where they need to go quicker, too.
5) Use organic, recycled and/or natural elements. If you've got choices in the materials you use, take a few minutes to research your options. You may be pleasantly surprised by the range of choices available.
6) Choose reusable. Instead of notebooks and paper for your to do lists, consider a dry erase board or go to a digital online version. Try Google Calendar instead of a paper planner. If your products require certain materials during the production process, can you use something reusable instead of disposable?
7) Buy in bulk. You'll save time as well as trips back and forth to the store if you purchase in bulk.
8) Change your lighting. Open the windows in your home office or working area and enjoy the beautiful, natural light! Replace your old style light bulbs with energy-saving fluorescent bulbs to save energy and reduce your electric bill.
9) Choose a VA (virtual assistant) instead of an in-person assistant. Work with employees or contractors who work from their homes and you'll help save the gas and emissions from cars driving back and forth as well gain as many, many other benefits.
10) Combine errands and schedule meetings selectively. Can you do them all on one day? Fewer trips in your car are better. If you can eliminate some errands by having the USPS carrier (who's already driving by) pick up packages or meeting with clients via Skype instead of in-person, consider it.
11) Buy Green Tags. With green tags you can compensate for your CO2 usage. I purchase mine through greentagsusa.org/GreenTags/index.cfm
12) Go 100% Replanted. Through replanttrees.org you can have trees planted to make up for your paper usage.
13) Choose your packaging materials carefully. You can find green packing materials starting at sustainablepackaging.org or clearbags.com/?category|BIOBAGS Recycle or reuse when feasible.
14) Deliver your products digitally. Can you offer a digital version of your products? How about offering your patterns as a PDF download? Or a PDF ebook option of your printable book? Encourage the digital options. Check out e-junkie.com for an easy way to sell digital items online.
15) Sell locally. No need for shipping if you sell to local customers. Try craft shows or farmers markets if they fit your products. You can find listings online at indiecraftfairguide.com or indiecraftshows.com Depending on your products you could also work out discounts or commission based deals with tourist shops, museums, locally owned bookstores and other businesses or organizations in your local area.
16) Support green businesses. Does your webhost power their servers with green energy? Does your printer offer recycled paper for brochures or business cards? Look for ways to support other businesses who are making an effort to be green.
17) Share your commitment! Websites listed below maintain link directories of eco-aware businesses. Add yours if you're taking action steps to be earth friendly.
EcoFirms: ecofirms.org/support.php
EcoBusinessLinks: ecobusinesslinks.com
Green People: greenpeople.org/addlisting.cfm
Coop America's Green Pages: coopamerica.org ($75)
OCA Green People: organicconsumers.org/btc/BuyingGuide.cfm
US Green Commerce: usgreencommerce.org/bestbb
(Be sure to read all the way to the bottom where I've included links you can use to get listed in green directories, join campaigns, and add credibility to your site if you're running a green business.)
Let's start this article with a friendly disclaimer. I am aware that not everyone agrees with Al Gore, Leo DiCaprio, Al Sharpton or Pat Robertson. If you don't believe global warming could be the end of civilization, there are other compelling reasons to take action to be environmentally friendly in your business.
Respect for the planet and life all around you is the most basic of those reasons, but here are three others: it will reduce your costs, increase your efficiency, and add to your USP (unique selling position).
By following the familiar reduce, reuse, and recycle mantra you can save financially, which will allow you to invest more into growing your business or free up family finances.
You can increase your efficiency and get more organized by making small "green" changes such as printing less. For example, fewer piles of overflowing paper will make it easier to keep that working space clean and uncluttered so you can stay focused.
Sharing that you care, whether it's about the planet, the people, or some other angle, or some other cause entirely, helps you connect with your market and become more "real" than just a hidden person behind a faceless website. It's okay to allow your personality and passions to shine through your website and marketing. In fact, it's smart marketing!
So with those benefits in mind, here are some small steps you can take to make your business greener:
1) Reduce the amount of paper you use. Before you print, think. Do you *really* need to print out that email or document? If you just need a backup copy, pick up an inexpensive USB thumb drive and use it to save copies of important files.
2) Reuse and recycle. Keep a small box or tray for paper that you've printed on but no longer need and announce to your children that they are welcome to color, paint, cut, etc with the paper. Kids don't mind recycled paper and some really creative projects can result from paper that's already been used.
3) Buy EnergyStar appliances. Watch the energy usage on any appliances you purchase--computers, sergers, sewing machines--whatever tools are required for your trade. Always turn them off when not in use.
4) Go paperless for billing. Many business models easily lend themselves to e-billing. If yours does, do it. It will save you not only paper/envelopes, but also time and postage. Bills get where they need to go quicker, too.
5) Use organic, recycled and/or natural elements. If you've got choices in the materials you use, take a few minutes to research your options. You may be pleasantly surprised by the range of choices available.
6) Choose reusable. Instead of notebooks and paper for your to do lists, consider a dry erase board or go to a digital online version. Try Google Calendar instead of a paper planner. If your products require certain materials during the production process, can you use something reusable instead of disposable?
7) Buy in bulk. You'll save time as well as trips back and forth to the store if you purchase in bulk.
8) Change your lighting. Open the windows in your home office or working area and enjoy the beautiful, natural light! Replace your old style light bulbs with energy-saving fluorescent bulbs to save energy and reduce your electric bill.
9) Choose a VA (virtual assistant) instead of an in-person assistant. Work with employees or contractors who work from their homes and you'll help save the gas and emissions from cars driving back and forth as well gain as many, many other benefits.
10) Combine errands and schedule meetings selectively. Can you do them all on one day? Fewer trips in your car are better. If you can eliminate some errands by having the USPS carrier (who's already driving by) pick up packages or meeting with clients via Skype instead of in-person, consider it.
11) Buy Green Tags. With green tags you can compensate for your CO2 usage. I purchase mine through greentagsusa.org/GreenTags/index.cfm
12) Go 100% Replanted. Through replanttrees.org you can have trees planted to make up for your paper usage.
13) Choose your packaging materials carefully. You can find green packing materials starting at sustainablepackaging.org or clearbags.com/?category|BIOBAGS Recycle or reuse when feasible.
14) Deliver your products digitally. Can you offer a digital version of your products? How about offering your patterns as a PDF download? Or a PDF ebook option of your printable book? Encourage the digital options. Check out e-junkie.com for an easy way to sell digital items online.
15) Sell locally. No need for shipping if you sell to local customers. Try craft shows or farmers markets if they fit your products. You can find listings online at indiecraftfairguide.com or indiecraftshows.com Depending on your products you could also work out discounts or commission based deals with tourist shops, museums, locally owned bookstores and other businesses or organizations in your local area.
16) Support green businesses. Does your webhost power their servers with green energy? Does your printer offer recycled paper for brochures or business cards? Look for ways to support other businesses who are making an effort to be green.
17) Share your commitment! Websites listed below maintain link directories of eco-aware businesses. Add yours if you're taking action steps to be earth friendly.
EcoFirms: ecofirms.org/support.php
EcoBusinessLinks: ecobusinesslinks.com
Green People: greenpeople.org/addlisting.cfm
Coop America's Green Pages: coopamerica.org ($75)
OCA Green People: organicconsumers.org/btc/BuyingGuide.cfm
US Green Commerce: usgreencommerce.org/bestbb
Friday, October 9, 2009
Tips on Starting Your Own Small Business
Many of us would like to be entrepreneurs in our own right. Whether the motivation comes from contributing something to the community, or to earn additional stable income, going into a business usually starts small.
Small businesses today thrive more than ever now. Government and other private sectors help individuals live the "entrepreneur dream" by providing financial assistance for capital or business expansion.
To help you out in starting your own small business, follow some of these tips:
Study your niche very well.
It takes time and energy to study, research, observe, and survey the niche you are targeting to hop into. Check all the players in that market. Who are the major ones? Who is your direct competitor? See if you still have a place to do business. It is good to know that the pie is big for everyone.
Know your passion.
Most successful businesses are strongly, emotionally related to its owner. Know your passion well and capitalize on it. If you are to do business, it will be an easier job for you if it is your passion. If your heart is into it, the job is not work but a pleasurable thing to do.
Pool the necessary resources.
Finding funding help can be a little challenging if you are not financially prepared. While credit is a good thing to take when investing for a business, it is recommended that you have your own savings or cash to chip in. There are many institutions out there that offer easy terms of payment and low interest for a start-up business.
Think of the manpower that you will need.
Most start-up businesses are family businesses. It is nice to have some support from family members in running your enterprise, but you should also compensate them for their share. There are both advantages and disadvantages of including family in your labor force. The tip is to really think about what will be cost-efficient, and productive for your business. Think reliability, as well.
Small businesses today thrive more than ever now. Government and other private sectors help individuals live the "entrepreneur dream" by providing financial assistance for capital or business expansion.
To help you out in starting your own small business, follow some of these tips:
Study your niche very well.
It takes time and energy to study, research, observe, and survey the niche you are targeting to hop into. Check all the players in that market. Who are the major ones? Who is your direct competitor? See if you still have a place to do business. It is good to know that the pie is big for everyone.
Know your passion.
Most successful businesses are strongly, emotionally related to its owner. Know your passion well and capitalize on it. If you are to do business, it will be an easier job for you if it is your passion. If your heart is into it, the job is not work but a pleasurable thing to do.
Pool the necessary resources.
Finding funding help can be a little challenging if you are not financially prepared. While credit is a good thing to take when investing for a business, it is recommended that you have your own savings or cash to chip in. There are many institutions out there that offer easy terms of payment and low interest for a start-up business.
Think of the manpower that you will need.
Most start-up businesses are family businesses. It is nice to have some support from family members in running your enterprise, but you should also compensate them for their share. There are both advantages and disadvantages of including family in your labor force. The tip is to really think about what will be cost-efficient, and productive for your business. Think reliability, as well.
Friday, October 2, 2009
Shipping Supplies For Small Business
If you own a small business, and do advertising on the world wide web, chances are that you have a need to ship the products that you sell to people all over the country or even the world. While it may be tempting to cut corners on shipping supplies for small business, this is an area where it would be wise not to cut corners.
The shipping materials you choose to ship the products to your customers are what will make a first impression with them. If your product arrives in a beat up box that is cheaply made and/or is the wrong shape or size for the product, it will not leave a good first impression with the customer.
For instance, you do not want to buy shipping boxes that you have to fill with extra packing material in order to keep the item from rolling around in the box. You need to buy the correct size shipping boxes for each product that you sell. You want to preserve a positive image of your company for those who choose to order products from you.
It is understandable that you will want to buy cost effective packaging supplies. However, you need to be sure that you are buying a good product that will stand up to the rigors of the shipping process. If you run across a deal on shipping supplies for small businesses that seems too good to be true, it probably is too good to be true. Proceed with caution.
One of the best pieces of advice for those who are looking for shipping supplies for small businesses is to shop around. Find several suppliers via the internet that have what you are looking for, and then order a sample of each product you are interested in. That way you can see if the shipping supplies will actually meet your needs before you invest money into a large quantity.
Be aware that there are many companies that provide shipping supplies, and sometimes you can find the same type of product for a lower price if you take the time to do some research. Louis Zhang, Shippingsuppliesinc dot com
The shipping materials you choose to ship the products to your customers are what will make a first impression with them. If your product arrives in a beat up box that is cheaply made and/or is the wrong shape or size for the product, it will not leave a good first impression with the customer.
For instance, you do not want to buy shipping boxes that you have to fill with extra packing material in order to keep the item from rolling around in the box. You need to buy the correct size shipping boxes for each product that you sell. You want to preserve a positive image of your company for those who choose to order products from you.
It is understandable that you will want to buy cost effective packaging supplies. However, you need to be sure that you are buying a good product that will stand up to the rigors of the shipping process. If you run across a deal on shipping supplies for small businesses that seems too good to be true, it probably is too good to be true. Proceed with caution.
One of the best pieces of advice for those who are looking for shipping supplies for small businesses is to shop around. Find several suppliers via the internet that have what you are looking for, and then order a sample of each product you are interested in. That way you can see if the shipping supplies will actually meet your needs before you invest money into a large quantity.
Be aware that there are many companies that provide shipping supplies, and sometimes you can find the same type of product for a lower price if you take the time to do some research. Louis Zhang, Shippingsuppliesinc dot com
Thursday, September 24, 2009
Payroll For Small Business - Why Outsource?
Establishment of a business can be daunting. All of your hopes and dreams plus finances are on the line and success is the only option. There are a lot of things to consider- taxes, employees, rent, inventory, insurance, benefits and yes, and everyone wants to get paid. Whether you are just starting out, your business is really taking off or maybe it is losing money, you may want to consider outsourcing your payroll responsibilities. Why, you ask? You're pretty good at math, you can do it yourself or at least hire someone in house to do it. Well, there are a lot of reasons that outsourcing your small business payroll can increase your bottom line.
1. Outsourcing is a time-saver.
If you are trying to get a small business up and running, all the time spent figuring out payroll and writing checks consumes a lot of time, which could be well spent helping your venture grow. Sitting behind a desk in front of a calculator and checkbook keeps you from being out on the floor with the clients, customers and employees to find out what is and is not working. You can focus on marketing, improving and growing your business instead of paperwork. There will still be plenty of other paperwork to be done without dealing with this aspect. Outsourcing your small business payroll frees up your time to deal with more important things to make your dreams come true.
If your venture has already taken off and you need to hire more people just to keep up with the increased productivity, outsourcing the payroll can pay off big time and free up you and your employees to keep the shop running. All you have to do is send off the monthly records and a trusted professional handles the rest. This can probably be done by mail, email or fax.
2. Outsourcing is a money-saver.
Handing the reigns to independent professionals can also save you money. The obvious reason is that you do not have to hire specific people to calculate taxes, deductions, fill out forms, print out and deliver the checks. Not only will you have to pay this staff a salary or hourly wage, but there are insurance, benefits, sick days, vacations and other expenses that go along with in-house employees. By emailing out your reports, you pay a rate for the service and that's it. You know that someone is there to do it and do it right.
Payroll experts handle the accounts and are well-versed with the ins and outs of the paperwork. This could also save you in the long run because mistakes can be costly. If you have problems with inventory or employees or any of the many problems that arise in a work day, focus may not be on the job at hand and mistakes can be made and penalties accrued. On the other hand, if you can free yourself up to deal with other things and be confident that your employees' checks are in good hands. Think about it.
You should enjoy your new venture and save yourself some of the headaches that go along with it. Don't be afraid to relinquish some of the responsibility. It can save you time and money if you let someone else handle it.
1. Outsourcing is a time-saver.
If you are trying to get a small business up and running, all the time spent figuring out payroll and writing checks consumes a lot of time, which could be well spent helping your venture grow. Sitting behind a desk in front of a calculator and checkbook keeps you from being out on the floor with the clients, customers and employees to find out what is and is not working. You can focus on marketing, improving and growing your business instead of paperwork. There will still be plenty of other paperwork to be done without dealing with this aspect. Outsourcing your small business payroll frees up your time to deal with more important things to make your dreams come true.
If your venture has already taken off and you need to hire more people just to keep up with the increased productivity, outsourcing the payroll can pay off big time and free up you and your employees to keep the shop running. All you have to do is send off the monthly records and a trusted professional handles the rest. This can probably be done by mail, email or fax.
2. Outsourcing is a money-saver.
Handing the reigns to independent professionals can also save you money. The obvious reason is that you do not have to hire specific people to calculate taxes, deductions, fill out forms, print out and deliver the checks. Not only will you have to pay this staff a salary or hourly wage, but there are insurance, benefits, sick days, vacations and other expenses that go along with in-house employees. By emailing out your reports, you pay a rate for the service and that's it. You know that someone is there to do it and do it right.
Payroll experts handle the accounts and are well-versed with the ins and outs of the paperwork. This could also save you in the long run because mistakes can be costly. If you have problems with inventory or employees or any of the many problems that arise in a work day, focus may not be on the job at hand and mistakes can be made and penalties accrued. On the other hand, if you can free yourself up to deal with other things and be confident that your employees' checks are in good hands. Think about it.
You should enjoy your new venture and save yourself some of the headaches that go along with it. Don't be afraid to relinquish some of the responsibility. It can save you time and money if you let someone else handle it.
Friday, September 18, 2009
How to Build Your Own Small Business From Scratch
When we think about starting a business, the first thing that usually comes to our mind is: location, employees, inventory and a huge amount of money as startup capital.
Such an array of difficulties often prevent us from taking the step to really begin an entrepreneurial career, because sometimes we do have the money, but maybe not plenty enough to feel comfortable risking it on some business adventure, and sometimes we might be broke or so choked in debt that investing a large sum of money to pursue an uncertain outcome is out of the question.
The solution to this dilemma is to seek for a new business model, to think out of the box. This means exploring new opportunities that this era of technology and globalization are opening and continue to open for anyone willing to claim a piece.
As you might have heard -or not- nowadays the internet is steadily becoming the prime ground for commerce and businesses all around the world, enabling people to profit from the worldwide web in many ways that often require little or no money.
Now, regardless of how you decide to tackle the internet, you will almost always find a common denominator: starting a business online will cost you little or no money. Indeed, depending on how you prepare and educate yourself, you can really create an online real estate that will be worth as much or even more than a physical location.
A few examples of how you can significantly profit from the internet with just a few bucks in your pocket are forex trading online and internet marketing.
You probably think, but how can I profit from those business options if I know nothing about forex or internet marketing?
I wish I could answer this by telling you that I know a secret formula that will allow you to become rich in a month, but that would be simply lying to you. The plain truth that any online effort as a way of creating your very own small business, will demand that you seek for educational resources and tools to help you start and run whatever business operation you set out to build.
Indeed, the online business model usually will not demand a large capital investment, only knowhow and a little bit of effort, so this means that you will only need a few bucks to get yourself some essential tools and educational resources. After that, you can literally build a small empire with only your brain power and some hard work in the beginning (something any business will demand from you).
If you add all of those to the mix you can realistically expect to create a stream of income that will enable you to make a pretty decent living from a home office within less than 6 months, and this is a fact. Do not expect it to be easy, just believe it to be possible and you will get there sooner than you imagine.
Think different, work different. Learn how to do it smarter, not harder. If you do that you will build a small business from scratch that will surpass all of your expectations.
Such an array of difficulties often prevent us from taking the step to really begin an entrepreneurial career, because sometimes we do have the money, but maybe not plenty enough to feel comfortable risking it on some business adventure, and sometimes we might be broke or so choked in debt that investing a large sum of money to pursue an uncertain outcome is out of the question.
The solution to this dilemma is to seek for a new business model, to think out of the box. This means exploring new opportunities that this era of technology and globalization are opening and continue to open for anyone willing to claim a piece.
As you might have heard -or not- nowadays the internet is steadily becoming the prime ground for commerce and businesses all around the world, enabling people to profit from the worldwide web in many ways that often require little or no money.
Now, regardless of how you decide to tackle the internet, you will almost always find a common denominator: starting a business online will cost you little or no money. Indeed, depending on how you prepare and educate yourself, you can really create an online real estate that will be worth as much or even more than a physical location.
A few examples of how you can significantly profit from the internet with just a few bucks in your pocket are forex trading online and internet marketing.
You probably think, but how can I profit from those business options if I know nothing about forex or internet marketing?
I wish I could answer this by telling you that I know a secret formula that will allow you to become rich in a month, but that would be simply lying to you. The plain truth that any online effort as a way of creating your very own small business, will demand that you seek for educational resources and tools to help you start and run whatever business operation you set out to build.
Indeed, the online business model usually will not demand a large capital investment, only knowhow and a little bit of effort, so this means that you will only need a few bucks to get yourself some essential tools and educational resources. After that, you can literally build a small empire with only your brain power and some hard work in the beginning (something any business will demand from you).
If you add all of those to the mix you can realistically expect to create a stream of income that will enable you to make a pretty decent living from a home office within less than 6 months, and this is a fact. Do not expect it to be easy, just believe it to be possible and you will get there sooner than you imagine.
Think different, work different. Learn how to do it smarter, not harder. If you do that you will build a small business from scratch that will surpass all of your expectations.
Thursday, September 10, 2009
Appointment Letters - Small Business Tips to Get Your Foot in the Door
Many small businesses struggle with writing letters to potential clients trying to get an appointment with them. But it doesn't have to be as difficult as it may seem. As a professional copy writer, here are my top 10 tips for effective appointment letters.
1. Be realistic in the response you are looking for. People are not sitting by the post-box waiting for your letter. For most people you have to prove to them first why they should read (and not bin) your letter and second why they should give up some of their precious time to see you. Industry statistics talk about a 2% - 5% OPEN rate. That means only 2-5% of all of your letters actually get read. Out of those figures, industry statistics vary between a 1%-20% actual response to your offer. There are things you can do to improve these rates, but at least you now know what you are up against. Up to 98% of all people won't read your letter, let alone action it.
2. What list are you using? A good list will make your mailing. If you are mailing to people who you already have a great relationship with, you can expect your response rates to increase. If you are mailing to a cold list of names you have gathered from the Yellow Pages, or just delivered to PO Boxes, your response rates will be much less.
3. Headlines and subheads. People scan letters before reading them. Make sure you have clear and enticing headlines and sub-headlines to make them want to read more.
4. Spelling, grammar and layout count. If you send out a letter full of typos, poorly laid out and looking unprofessional - you can count on getting a very poor response. Good layout, with clever use of bold, colour, underlining, larger fonts and "copy doodles" all boost your response rate.
5. Go with the flow. Your letter must flow logically and consistently. You want them to understand the features and benefits of what you are offering - and how these will make their lives easier. You want to take your audience through a gradual development of ideas, building them to a point where they know clearly whether or not what you are suggesting will meet their needs and wants.
6. How credible are you? People want to know you have background, knowledge, experience and expertise in the area. They want to know that other people have used your services and are fully satisfied with the results. Demonstrating your credibility through including testimonials or case studies will help potential customers feel comfortable with you - enough to want to take the next step.
7. Strong call to action. Many people send out a letter seeking an appointment and do not make it clear what they want the person to do. Are they to wait for your call to make an appointment, call you to make an appointment or contact you for more information? Tell people clearly what you want them to do and they will do it.
8. PS. If there is a PS on a letter people will read it. Use your PS to reinforce a key point or your call to action. PS's increase your response rate.
9. Follow up. A single mail shot with no follow up rarely works well. All letters should be either followed up with a phone call to the person, or a second mail shot a few weeks later. Many people intend to take action but simply forget. Following up significantly boosts your response rates.
10. Test & measure. Businesses need to test and measure the responses to all marketing. How many responses did you get to the one letter? Now try sending out the same letter to a different sample with just different headlines and sub-headlines to check the response rates. Try changing the call to action with a third sample. The top direct mail companies all tweak their mailings until they get a "control" piece - one that consistently performs well. Once they have a control piece they keep using it, every now and again testing a sample with a new piece to see if it beats the control. Small business can do the same thing - use sample sizes of about 100 minimum as this will give you some indication of trends (Big business uses about 10,000 as their minimum but few small businesses have the budgets to work with those numbers).
Ingrid Cliff is passionate about small business ideas ... with a belief there are no small businesses, just small ideas. Ingrid has over 25 years experience as a HR Manager with companies up to 7000 employees in both the private and public sector.
1. Be realistic in the response you are looking for. People are not sitting by the post-box waiting for your letter. For most people you have to prove to them first why they should read (and not bin) your letter and second why they should give up some of their precious time to see you. Industry statistics talk about a 2% - 5% OPEN rate. That means only 2-5% of all of your letters actually get read. Out of those figures, industry statistics vary between a 1%-20% actual response to your offer. There are things you can do to improve these rates, but at least you now know what you are up against. Up to 98% of all people won't read your letter, let alone action it.
2. What list are you using? A good list will make your mailing. If you are mailing to people who you already have a great relationship with, you can expect your response rates to increase. If you are mailing to a cold list of names you have gathered from the Yellow Pages, or just delivered to PO Boxes, your response rates will be much less.
3. Headlines and subheads. People scan letters before reading them. Make sure you have clear and enticing headlines and sub-headlines to make them want to read more.
4. Spelling, grammar and layout count. If you send out a letter full of typos, poorly laid out and looking unprofessional - you can count on getting a very poor response. Good layout, with clever use of bold, colour, underlining, larger fonts and "copy doodles" all boost your response rate.
5. Go with the flow. Your letter must flow logically and consistently. You want them to understand the features and benefits of what you are offering - and how these will make their lives easier. You want to take your audience through a gradual development of ideas, building them to a point where they know clearly whether or not what you are suggesting will meet their needs and wants.
6. How credible are you? People want to know you have background, knowledge, experience and expertise in the area. They want to know that other people have used your services and are fully satisfied with the results. Demonstrating your credibility through including testimonials or case studies will help potential customers feel comfortable with you - enough to want to take the next step.
7. Strong call to action. Many people send out a letter seeking an appointment and do not make it clear what they want the person to do. Are they to wait for your call to make an appointment, call you to make an appointment or contact you for more information? Tell people clearly what you want them to do and they will do it.
8. PS. If there is a PS on a letter people will read it. Use your PS to reinforce a key point or your call to action. PS's increase your response rate.
9. Follow up. A single mail shot with no follow up rarely works well. All letters should be either followed up with a phone call to the person, or a second mail shot a few weeks later. Many people intend to take action but simply forget. Following up significantly boosts your response rates.
10. Test & measure. Businesses need to test and measure the responses to all marketing. How many responses did you get to the one letter? Now try sending out the same letter to a different sample with just different headlines and sub-headlines to check the response rates. Try changing the call to action with a third sample. The top direct mail companies all tweak their mailings until they get a "control" piece - one that consistently performs well. Once they have a control piece they keep using it, every now and again testing a sample with a new piece to see if it beats the control. Small business can do the same thing - use sample sizes of about 100 minimum as this will give you some indication of trends (Big business uses about 10,000 as their minimum but few small businesses have the budgets to work with those numbers).
Ingrid Cliff is passionate about small business ideas ... with a belief there are no small businesses, just small ideas. Ingrid has over 25 years experience as a HR Manager with companies up to 7000 employees in both the private and public sector.
Thursday, September 3, 2009
Comparing Small Business Credit Card Offers
Special Business Credit Card awards come in the form of cash back, air miles, merchandise, or other rewards. These awards are offered in addition to the standard benefits offered by companies.
The Business Credit Cards - The Advantage
Business credit cards offer will help you benefit in the form of expediency, rewards, and cash back facilities. Executives and professional can take advantage by earning limitless cash back, rewards and frequent flyer miles by making use of these business credit cards.
Several business offers have immediate approval where information comes online whether you are approved, not approved, or will be notified later.
How To Find The Best Credit Card For You
Various sites on the net provide you with the tools and information to help you choose the best credit card and applying for it is as simple and as easy as possible. With the extensive assortment of cards obtainable by the provider on the net with the majority competitive rates and rewards, you are sure to find the right and best card that suits your needs. The providers constantly update their sites to provide the best credit card deals that is easily available online.
You can browse through the various card categories that is displayed by the credit card providers on the net. You can also use the credit card comparison charts and search tools available to compare the credit cards or to find the best card with the right features that suits your needs. The card comparison guide provided by the credit card companies enables you to compare rates, type of rewards, and the applicable annual fees.
In order to educate and inform the visitors about choosing the right credit card and how to spot the best credit card deal, they provide an extensive help facility. The help features available help you to become skilled at additional on how to take benefit of the a variety of card benefits, as well as to have a improved understanding of their facial appearance and the significance of your credit score.
If you are searching for a business credit card, you can find the best credit card deals for your business easily available on the net. Detailed information of the features will be displayed and provided to you by the credit card companies. You can directly apply for the same and make the best use of the same directly online.
The Business Credit Cards - The Advantage
Business credit cards offer will help you benefit in the form of expediency, rewards, and cash back facilities. Executives and professional can take advantage by earning limitless cash back, rewards and frequent flyer miles by making use of these business credit cards.
Several business offers have immediate approval where information comes online whether you are approved, not approved, or will be notified later.
How To Find The Best Credit Card For You
Various sites on the net provide you with the tools and information to help you choose the best credit card and applying for it is as simple and as easy as possible. With the extensive assortment of cards obtainable by the provider on the net with the majority competitive rates and rewards, you are sure to find the right and best card that suits your needs. The providers constantly update their sites to provide the best credit card deals that is easily available online.
You can browse through the various card categories that is displayed by the credit card providers on the net. You can also use the credit card comparison charts and search tools available to compare the credit cards or to find the best card with the right features that suits your needs. The card comparison guide provided by the credit card companies enables you to compare rates, type of rewards, and the applicable annual fees.
In order to educate and inform the visitors about choosing the right credit card and how to spot the best credit card deal, they provide an extensive help facility. The help features available help you to become skilled at additional on how to take benefit of the a variety of card benefits, as well as to have a improved understanding of their facial appearance and the significance of your credit score.
If you are searching for a business credit card, you can find the best credit card deals for your business easily available on the net. Detailed information of the features will be displayed and provided to you by the credit card companies. You can directly apply for the same and make the best use of the same directly online.
Friday, August 28, 2009
Small Business Loans and Lines of Credit
Your business is doing well. Your customer base is growing, and during the last quarter you actually turned a profit for the first time since you opened your doors last year. You have a solid business plan and now it's time to think about moving out of your rented space, buying more equipment, or perhaps hiring more employees.
Perhaps your business is profitable but during your slow season you're short of cash. Or your delivery truck just broke down and you have decided its time to get a new one. You need to get cash to keep your business moving forward.
Where do you start? The good news is that there are a wide variety of credit and loan programs available that can be applied to almost any business situation. The bad news is that the choices can seem complex and overwhelming. Here are some options that a small business owner can consider.
Business Lines of Credit
If your business is profitable over the course of the fiscal year but there are times when you are short of cash because your income is seasonal or cyclical, you may benefit from a business line of credit. A line of credit provides access to cash for a variety of short-term financing needs and gives you the flexibility to draw on the line at any time as long as you pay down the balance. Typically, once the line of credit is established funds are available when you need them, but the advantage is that you do not pay interest until you draw on the line. Lines can be secured or unsecured, with multiple repayment options and a variety of interest rates. Interest rates generally range from nine to fifteen percent based your personal and business credit history and other factors. You would generally not use your business line of credit for expansion or capital investment, because you may not realize income from your expansion for many months. For expansion you should consider a loan.
Business Loans $25,000 and Up
A business loan provides access to cash for many kinds of one-time expenditures and long term financing needs such as fixed asset purchases, or business expansion or acquisition. Unlike a line of credit, a business loan is amortizing and is fully disbursed when you close the loan. You may have the ability to lock in an interest rate.
There are many types of business loans:
• Vehicle Loan -- Finance the purchase of a new or used vehicle.
• Equipment Loan -- Finance the purchase of new or used equipment.
• Real Estate Loan -- Finance the purchase of commercial real estate.
• Secured Loan -- Get permanent working capital, improve cash flow, purchase inventory and materials, finance accounts receivable, expand or remodel facilities.
• Agriculture Loan -- Finance crop and livestock production expenses, purchase equipment, breed livestock, purchase land for farming or ranching.
• Cash-Secured Loan -- Get permanent working capital, improve cash flow, refinance debt, purchase inventory, materials, equipment, or vehicles, finance accounts receivable.
Business loan rates depend on a number of factors, including the amount you borrow, your collateral, financial strength of your business, term of the loan, and your credit rating. Over the past ten years business loan rates have fluctuated between four and eleven percent.
Small Business Administration (SBA) Loans
If you have less-than-stellar credit or you are not sure you qualify for a regular bank loan, you may qualify for a loan program backed by the Small Business Administration (SBA). The SBA has created a program of government-guaranteed loans designed to make loans to small businesses that may not otherwise qualify for credit. SBA loans make it possible to qualify businesses more easily and provide them with more flexible terms than conventional loan options. You can get more information at sba.gov/, or talk to your local commercial banker.
The SBA does not make loans to small businesses; it is a guarantor of loans made by private banks and other institutions. Talk to your local commercial bank when you're ready to consider a line of credit or a loan, and you'll see the range of choices available to you.
Perhaps your business is profitable but during your slow season you're short of cash. Or your delivery truck just broke down and you have decided its time to get a new one. You need to get cash to keep your business moving forward.
Where do you start? The good news is that there are a wide variety of credit and loan programs available that can be applied to almost any business situation. The bad news is that the choices can seem complex and overwhelming. Here are some options that a small business owner can consider.
Business Lines of Credit
If your business is profitable over the course of the fiscal year but there are times when you are short of cash because your income is seasonal or cyclical, you may benefit from a business line of credit. A line of credit provides access to cash for a variety of short-term financing needs and gives you the flexibility to draw on the line at any time as long as you pay down the balance. Typically, once the line of credit is established funds are available when you need them, but the advantage is that you do not pay interest until you draw on the line. Lines can be secured or unsecured, with multiple repayment options and a variety of interest rates. Interest rates generally range from nine to fifteen percent based your personal and business credit history and other factors. You would generally not use your business line of credit for expansion or capital investment, because you may not realize income from your expansion for many months. For expansion you should consider a loan.
Business Loans $25,000 and Up
A business loan provides access to cash for many kinds of one-time expenditures and long term financing needs such as fixed asset purchases, or business expansion or acquisition. Unlike a line of credit, a business loan is amortizing and is fully disbursed when you close the loan. You may have the ability to lock in an interest rate.
There are many types of business loans:
• Vehicle Loan -- Finance the purchase of a new or used vehicle.
• Equipment Loan -- Finance the purchase of new or used equipment.
• Real Estate Loan -- Finance the purchase of commercial real estate.
• Secured Loan -- Get permanent working capital, improve cash flow, purchase inventory and materials, finance accounts receivable, expand or remodel facilities.
• Agriculture Loan -- Finance crop and livestock production expenses, purchase equipment, breed livestock, purchase land for farming or ranching.
• Cash-Secured Loan -- Get permanent working capital, improve cash flow, refinance debt, purchase inventory, materials, equipment, or vehicles, finance accounts receivable.
Business loan rates depend on a number of factors, including the amount you borrow, your collateral, financial strength of your business, term of the loan, and your credit rating. Over the past ten years business loan rates have fluctuated between four and eleven percent.
Small Business Administration (SBA) Loans
If you have less-than-stellar credit or you are not sure you qualify for a regular bank loan, you may qualify for a loan program backed by the Small Business Administration (SBA). The SBA has created a program of government-guaranteed loans designed to make loans to small businesses that may not otherwise qualify for credit. SBA loans make it possible to qualify businesses more easily and provide them with more flexible terms than conventional loan options. You can get more information at sba.gov/, or talk to your local commercial banker.
The SBA does not make loans to small businesses; it is a guarantor of loans made by private banks and other institutions. Talk to your local commercial bank when you're ready to consider a line of credit or a loan, and you'll see the range of choices available to you.
Thursday, August 20, 2009
3 Must Know Small Business Government Grants For Women Application Tips
If you are a woman looking to kick start your business venture in near future or your are seeking for a financial boost for your current business, you are at the right page as small business government grants for women is definitely better compared to loans because they do not require any form of repayment and recurring interest expenses.
In this government grants application tips article, we are going to move into some of the tips that are proven in helping women to get their government grant applications approved.
Understand the Competition
For different industries, there might be a huge difference in terms of the supply and demand for government funding. For example, our government is currently focusing more on technology advancement and thus, the availability of grants for tech-related businesses will be more compared to the arts and crafts industry.
Understanding the amount of competition will help you to determine the level of attention needed for your grant application. For grants with a low amount of competition, it may be due to the tedious red tapes but if you do not mind about it, you will get the money easily. Low competition also means that you need less effort to impress the panel.
Search Thoroughly in All Categories
One thing that is great about applying for small business government grants for women is that you can apply for as many as you are able to. Although there are a lot of them are covered under the category, Business and Commerce in in the list of grants available for application, you must not skip any of the categories that are relevant to your business.
Read thoroughly the terms for each grants that are related to your business. If you find that you can easily comply with the terms, by all means apply for it because you will increase your chances of getting free money for your business. There might also be new grants available from time to time so make sure that you revisit the application page often.
Plan Your Expenses Upfront
Treat government grants as your own money. You need to think that way in order to come out with a budget that will satisfy the panel. Before you are even being granted, you should do your homework on planning your expenses in detail. You might outdo other competition by adding the extra chart or explanation that shows them that you really cares about getting the grant.
In this government grants application tips article, we are going to move into some of the tips that are proven in helping women to get their government grant applications approved.
Understand the Competition
For different industries, there might be a huge difference in terms of the supply and demand for government funding. For example, our government is currently focusing more on technology advancement and thus, the availability of grants for tech-related businesses will be more compared to the arts and crafts industry.
Understanding the amount of competition will help you to determine the level of attention needed for your grant application. For grants with a low amount of competition, it may be due to the tedious red tapes but if you do not mind about it, you will get the money easily. Low competition also means that you need less effort to impress the panel.
Search Thoroughly in All Categories
One thing that is great about applying for small business government grants for women is that you can apply for as many as you are able to. Although there are a lot of them are covered under the category, Business and Commerce in in the list of grants available for application, you must not skip any of the categories that are relevant to your business.
Read thoroughly the terms for each grants that are related to your business. If you find that you can easily comply with the terms, by all means apply for it because you will increase your chances of getting free money for your business. There might also be new grants available from time to time so make sure that you revisit the application page often.
Plan Your Expenses Upfront
Treat government grants as your own money. You need to think that way in order to come out with a budget that will satisfy the panel. Before you are even being granted, you should do your homework on planning your expenses in detail. You might outdo other competition by adding the extra chart or explanation that shows them that you really cares about getting the grant.
Saturday, August 15, 2009
The Basics of Small Business Grants and How You Can Get One
Small business grants are a popular topic because they're alluring. After all, a grant will give you money to start your own small business, and you will not have to pay it back. It's sort of like getting a gift of money, or an inheritance.
There's a lot of confusion and misinformation about small business grants though, and there are a lot of scams too. So let's look at some of the basics...
1. Small business grants are not usually given out by the federal government. State government groups and offices however, often do give out small business grants for specific purposes. Generally state government grants are given to help create jobs and boost the economy in the state.
2. Small business grants are usually given for specific reasons. Not everyone can qualify for every grant available. Many grants are only available to specific minorities such as African Americans for instance, or women, or even African American Women. There are grants for Native American owned small businesses, grants for technology based businesses, and grants for innovative businesses too. And this is possibly the least understood aspect of small business grants. Many people mistakenly believe that anyone can get a grant, or multiple grants, just by applying. But you need to follow the application rules and guidelines. A small business owned solely by a man is not going to get a grant which is just available to women owned businesses.
3. Grants are offered by a variety of organizations. Many grants are offered by private foundations for instance, while others may be offered by corporations.
4. Small business grants take time. Most grants have a detailed, step-by-step application process that must be completed. And that application can take time to complete. A lot of time. Depending on the source of the small business grant, there may be other requirements that have to be met before they'll even look at your application too. And once the application is accepted, it could be a year or more before the organization decides who will get the limited number of small business grants they have available.
5. Small business grants are plentiful yet scarce. There are literally thousands of places to apply for small business grants, but each place usually has a very limited number of grants to give. It's not uncommon for there to be only one grant available from a given organization each year, and in some cases there's just one grant every five years or so.
6. Small business grants may not help a start up. This is another common misconception about small business grants. Many people who are ready to start a business, think that getting a business grant is the best way to get started. The problem though, is that many small business grants will only be awarded to existing or established businesses.
There's a lot of confusion and misinformation about small business grants though, and there are a lot of scams too. So let's look at some of the basics...
1. Small business grants are not usually given out by the federal government. State government groups and offices however, often do give out small business grants for specific purposes. Generally state government grants are given to help create jobs and boost the economy in the state.
2. Small business grants are usually given for specific reasons. Not everyone can qualify for every grant available. Many grants are only available to specific minorities such as African Americans for instance, or women, or even African American Women. There are grants for Native American owned small businesses, grants for technology based businesses, and grants for innovative businesses too. And this is possibly the least understood aspect of small business grants. Many people mistakenly believe that anyone can get a grant, or multiple grants, just by applying. But you need to follow the application rules and guidelines. A small business owned solely by a man is not going to get a grant which is just available to women owned businesses.
3. Grants are offered by a variety of organizations. Many grants are offered by private foundations for instance, while others may be offered by corporations.
4. Small business grants take time. Most grants have a detailed, step-by-step application process that must be completed. And that application can take time to complete. A lot of time. Depending on the source of the small business grant, there may be other requirements that have to be met before they'll even look at your application too. And once the application is accepted, it could be a year or more before the organization decides who will get the limited number of small business grants they have available.
5. Small business grants are plentiful yet scarce. There are literally thousands of places to apply for small business grants, but each place usually has a very limited number of grants to give. It's not uncommon for there to be only one grant available from a given organization each year, and in some cases there's just one grant every five years or so.
6. Small business grants may not help a start up. This is another common misconception about small business grants. Many people who are ready to start a business, think that getting a business grant is the best way to get started. The problem though, is that many small business grants will only be awarded to existing or established businesses.
Thursday, August 6, 2009
Small Business Loans For Women - Free Money Awaits
Are you trying to get your business off the ground or maybe you want to expand? Do you need small business loans for women to get yourself on your way? There are actually grants and loans that are designed just for the female business owner. This is because women are considered a bit of a minority when it comes to small business and the SBA is trying to help more women enter the business ownership world. Here are some helpful options for you to take advantage of.
First, you can try to get a grant and you may have some success. Go to your local SBA office and talk to them about the grant programs that are out there for women business owners. They may be able to get you some free money or at least some tax breaks and free training in some areas of business that you might find useful. Take advantage of anything they can help you with.
Second, the SBA also has specific loan programs to help women get their business off the ground. These usually are backed by the government and are pretty easy to get. As long as you have a strong business plan, have put up some of your own money, and have decent credit you will be able to get your business loan from the sBA. They will have all the information you need and can help you in many different ways.
Last, you can always go to your bank because some banks to cater to small business loans for women. They specifically do this because women tend to have much more success when they open their businesses and this is usually due to the fact that women have a more analytical approach to business. They will expect a business plan, a decent credit score, and you putting up some of your own money. They may also want you to put up collateral like your building or the land you are using.
First, you can try to get a grant and you may have some success. Go to your local SBA office and talk to them about the grant programs that are out there for women business owners. They may be able to get you some free money or at least some tax breaks and free training in some areas of business that you might find useful. Take advantage of anything they can help you with.
Second, the SBA also has specific loan programs to help women get their business off the ground. These usually are backed by the government and are pretty easy to get. As long as you have a strong business plan, have put up some of your own money, and have decent credit you will be able to get your business loan from the sBA. They will have all the information you need and can help you in many different ways.
Last, you can always go to your bank because some banks to cater to small business loans for women. They specifically do this because women tend to have much more success when they open their businesses and this is usually due to the fact that women have a more analytical approach to business. They will expect a business plan, a decent credit score, and you putting up some of your own money. They may also want you to put up collateral like your building or the land you are using.
Thursday, July 30, 2009
Small Business Accounting - Flawless & Profitable Business Accounting
It is essential for all the business owners to discern how profitable and money making they are at anytime. In today's world of business the conventional ways of annual accounting is certainly inappropriate and particularly when it comes to securing success for small businesses, small business accounting is of utmost importance. Nevertheless, the financial matters which are linked with small businesses are quite different from that of large or huge business houses and understating these matters as well as accounting is extremely crucial for the appropriate administration of the small businesses. This understanding further leads to right allocation of acknowledgment, correct business activities, suitable use of funds, enhanced decision making and apt evaluation of the competitors.
The Small Business Accounting essentially includes three major financial measures- Profit and Loss Statement, Balance Sheet and the Cash Flow Statement. The Profit and Loss Statement illustrates whether the business at small scale is money making or not. This statement is a testimonial that speaks the truth about the business i.e. how the business is going on and further covers certain time period, either quarterly or monthly.
While the Balance Sheet shows the worth of the business. It is the statement which lists all the liabilities as well as assets of the business at a specific point of time. The Cash Flow Statement gives an idea regarding the future cash balance of the business at small scale. It is the statement that covers the upcoming period of time and thereby predicts the future capital requirements of the small business enterprise prior to the necessity actually arises.
There are two prime methods of Small Business Accounting including the Cash Basis method and the Accrual Method.
In Cash Basis accounting method the bill payments are acknowledged as expenses and cash receipts are acknowledged as income. Vast majority of the small business proprietors' use this business accounting method since it is easy to understand as well as implement.
In this method the entry of revenue in accounts do not depends upon the actual compilation of cash. At any time when the product or service is sold, the transaction is recorded within the accounts as accounts receivable, even in the case if the client has not given the price. When the revenue actually is realized then the account receivable gets converts into cash in the recorded accounts. Likewise, if any overhead incurred by the small business enterprise then it is recorded in the form of expenses in accounts even in the case when the bills are cleared much later. Typically, the small business possessors that are engaged in the manufacturing business use the accrual method of business accounting.
The accrual method of business accounting includes some important issues about the Small Business Accounting, which includes tax liability issue (pay roll tax, income tax), maintaining the separate business transactions, internal control and the quarterly returns. In addition, the bank account reconciliation and the employee benefits policy are few other issues included in accrual method of business accounting. Consideration of all the things is very essential for a successful and a faultless business counting.
The Small Business Accounting essentially includes three major financial measures- Profit and Loss Statement, Balance Sheet and the Cash Flow Statement. The Profit and Loss Statement illustrates whether the business at small scale is money making or not. This statement is a testimonial that speaks the truth about the business i.e. how the business is going on and further covers certain time period, either quarterly or monthly.
While the Balance Sheet shows the worth of the business. It is the statement which lists all the liabilities as well as assets of the business at a specific point of time. The Cash Flow Statement gives an idea regarding the future cash balance of the business at small scale. It is the statement that covers the upcoming period of time and thereby predicts the future capital requirements of the small business enterprise prior to the necessity actually arises.
There are two prime methods of Small Business Accounting including the Cash Basis method and the Accrual Method.
In Cash Basis accounting method the bill payments are acknowledged as expenses and cash receipts are acknowledged as income. Vast majority of the small business proprietors' use this business accounting method since it is easy to understand as well as implement.
In this method the entry of revenue in accounts do not depends upon the actual compilation of cash. At any time when the product or service is sold, the transaction is recorded within the accounts as accounts receivable, even in the case if the client has not given the price. When the revenue actually is realized then the account receivable gets converts into cash in the recorded accounts. Likewise, if any overhead incurred by the small business enterprise then it is recorded in the form of expenses in accounts even in the case when the bills are cleared much later. Typically, the small business possessors that are engaged in the manufacturing business use the accrual method of business accounting.
The accrual method of business accounting includes some important issues about the Small Business Accounting, which includes tax liability issue (pay roll tax, income tax), maintaining the separate business transactions, internal control and the quarterly returns. In addition, the bank account reconciliation and the employee benefits policy are few other issues included in accrual method of business accounting. Consideration of all the things is very essential for a successful and a faultless business counting.
Wednesday, July 22, 2009
Publicity and Press Releases - What Every Small Business Owner Needs to Know
I was recently lucky enough to be part of a brainstorming session conducted by a professional and very successful Public Relations Expert. I want to share some of the information that came out of that session - tips used by the experts themselves to get their clients' media releases read, and published.
Spread the News
Make your press release say something. No one wants to read boring articles, so make sure your media release is actually newsworthy. Simply stating that your business is open, won't cut it. (Unless of course the place that publishes it have no readership and nothing else to report on!) Have an event such as a grand opening. Many companies have a grand opening or a special day where they use a gimmick of some sort and invite the media to come along. Some places invite radio stations to broadcast from their place of business for a certain amount of time.
You can also sponsor a sporting event, partner with a charity or tie your media release into a particular event at the time. For example, as I write this, interest rates are about to be cut for the first time in 7 years. If you can use this to your advantage in your business, then send out a media release. Chances are, it will be picked up pretty quickly! If you have a fashion business for example, run a media release close to the Melbourne Cup talking about this year's fashion.
Send it on up
Most media releases are sent by email these days. Be sure however, not to send your media release as an attachment. Many a reporter has been stung by a virus this way and no will not open anything with an attachment. Ensure your press release goes to the appropriate journalist as a full email.
Contact me please!
Believe it or not, many people forget to put their contact details on a press release! Ensure you have full contact details either at the top of the release or at the bottom. This includes any addresses and full contact numbers - not just a mobile phone number.
Try to keep your press release to one page and ensure that no blatant advertising is included. Follow up with each journalist that received your media release until you receive an answer from them.
Using publicity as part of your marketing strategy and your marketing mix can bring in plenty of free business - so ensure you get the basics right the first time!
Spread the News
Make your press release say something. No one wants to read boring articles, so make sure your media release is actually newsworthy. Simply stating that your business is open, won't cut it. (Unless of course the place that publishes it have no readership and nothing else to report on!) Have an event such as a grand opening. Many companies have a grand opening or a special day where they use a gimmick of some sort and invite the media to come along. Some places invite radio stations to broadcast from their place of business for a certain amount of time.
You can also sponsor a sporting event, partner with a charity or tie your media release into a particular event at the time. For example, as I write this, interest rates are about to be cut for the first time in 7 years. If you can use this to your advantage in your business, then send out a media release. Chances are, it will be picked up pretty quickly! If you have a fashion business for example, run a media release close to the Melbourne Cup talking about this year's fashion.
Send it on up
Most media releases are sent by email these days. Be sure however, not to send your media release as an attachment. Many a reporter has been stung by a virus this way and no will not open anything with an attachment. Ensure your press release goes to the appropriate journalist as a full email.
Contact me please!
Believe it or not, many people forget to put their contact details on a press release! Ensure you have full contact details either at the top of the release or at the bottom. This includes any addresses and full contact numbers - not just a mobile phone number.
Try to keep your press release to one page and ensure that no blatant advertising is included. Follow up with each journalist that received your media release until you receive an answer from them.
Using publicity as part of your marketing strategy and your marketing mix can bring in plenty of free business - so ensure you get the basics right the first time!
Tuesday, July 14, 2009
Types of Small Business Loans SBA Loans
Explanation: The Small Business Administration is an independent agency of the federal government. Its mission is to help people start, build and grow businesses. The SBA does not actually supply the loan; lenders are responsible for that part. But the SBA guarantees between 50 to 85 percent of the loan, making the lender less wary of lending to riskier borrowers. The SBA does this by backing and securing loans that are given by banks.
Requirements/Documentation: Applicants of SBA loans will be required to provide a business profile, loan request, collateral, business financial statements and personal financial statements.
Pros: SBA can back loans of up to $2million dollars. Start up businesses can also take advantage of SBA loans if they meet the requirements, provide the proper documentation and present a sound business plan.
Cons: Borrowers are at the SBA's discretion when it comes to getting a loan. They have to be able to persuade them that the loan will be put to good use, and they must outline exactly how the loan will be used. Also, as bank lending practices tighten, SBA loans are also becoming harder to receive.
Business Line of Credit
Explanation: A business line of credit is like a credit card for one's business. A business line of credit offers revolving credit with lines that typically range from $10,000 to $100,000.
Requirements/Documentation: Many different banks offer business lines of credit. They may offer lines of up to $25,000, or lines of $25,000 and over. Requirements may vary depending on the lender that you are working with.
Pros: You have accessible cash on hand anytime you want. Also, many lenders do not require borrowers to have collateral to receive a business line of credit.
Cons: Like a personal credit card, you must pay interest on the outstanding monthly balance.
Business Cash Advance
Explanation: A business cash advance is a purchase of a business's future credit card receivables. Borrowers receive an upfront lump sum and in return, a small percentage from their business's future credit card sales is deducted and used to repay the advance.
Requirements/Documentation: Most business cash advance lenders require that the borrower has a business that has been in operation for at least four months, and that the business processes a minimum of $2,500 per month in credit card sales. Borrowers must provide lenders with at least the four most recent months of their business's credit card statements.
Pros: Borrowers do not need to have collateral to receive a business cash advance. There is no interest on the advance, and there are no fixed monthly payments. There are also no penalties for repaying the advance slower or faster than expected. Also, there are no restrictions on how your business cash advance can be used.
Cons: Business cash advances can not be used to fund start-ups, as the borrower must have owned his/her business for at least four months to be eligible to receive the advance. Also, only merchant businesses that process credit card transactions are eligible to receive business cash advances, as the payments are taken as a small percentage from a business's daily credit card sales.
Requirements/Documentation: Applicants of SBA loans will be required to provide a business profile, loan request, collateral, business financial statements and personal financial statements.
Pros: SBA can back loans of up to $2million dollars. Start up businesses can also take advantage of SBA loans if they meet the requirements, provide the proper documentation and present a sound business plan.
Cons: Borrowers are at the SBA's discretion when it comes to getting a loan. They have to be able to persuade them that the loan will be put to good use, and they must outline exactly how the loan will be used. Also, as bank lending practices tighten, SBA loans are also becoming harder to receive.
Business Line of Credit
Explanation: A business line of credit is like a credit card for one's business. A business line of credit offers revolving credit with lines that typically range from $10,000 to $100,000.
Requirements/Documentation: Many different banks offer business lines of credit. They may offer lines of up to $25,000, or lines of $25,000 and over. Requirements may vary depending on the lender that you are working with.
Pros: You have accessible cash on hand anytime you want. Also, many lenders do not require borrowers to have collateral to receive a business line of credit.
Cons: Like a personal credit card, you must pay interest on the outstanding monthly balance.
Business Cash Advance
Explanation: A business cash advance is a purchase of a business's future credit card receivables. Borrowers receive an upfront lump sum and in return, a small percentage from their business's future credit card sales is deducted and used to repay the advance.
Requirements/Documentation: Most business cash advance lenders require that the borrower has a business that has been in operation for at least four months, and that the business processes a minimum of $2,500 per month in credit card sales. Borrowers must provide lenders with at least the four most recent months of their business's credit card statements.
Pros: Borrowers do not need to have collateral to receive a business cash advance. There is no interest on the advance, and there are no fixed monthly payments. There are also no penalties for repaying the advance slower or faster than expected. Also, there are no restrictions on how your business cash advance can be used.
Cons: Business cash advances can not be used to fund start-ups, as the borrower must have owned his/her business for at least four months to be eligible to receive the advance. Also, only merchant businesses that process credit card transactions are eligible to receive business cash advances, as the payments are taken as a small percentage from a business's daily credit card sales.
Thursday, July 9, 2009
Small Business Websites - The Good, the Bad, the Ugly
A website can be a boon to your small business, helping you reach new markets and explode your profits. Not all websites are created equal - for each successful website, there are many more that do not meet the grade. This article explores the good, bad and ugly of small business websites.
Small Business Websites - The Good
A website boosts your small business' credibility.
When I taught my first website strategies class in 1998, websites were the exclusive domain of the most cutting edge businesses. Now, the first question a prospect will ask is "What is your website?"
They won't ask if you have a website, because everyone expects a bona-fide small business to have a website.
A website makes it easier for your raving fans to refer you business.
A web address is easier to remember than a telephone number. For that reason alone, having a web address your fans can remember smoothes the referral process. The benefits don't end there. By including testimonials, case studies, and samples on your web site, you make it easier for referrals to become clients.
The right website shortens the sales cycle.
The right website, created with persuasive content, will lower the number of calls you get from tire-kickers, looky-loos, and people looking to "nickel and dime" you. Instead, a website can weed these people out, so that you get calls and emails from prospects that are ready to buy.
A website expands your small business to new markets.
The market for a bricks and mortar store is typically a 5-mile radius. The Internet erases boundaries: the market for an internet-based business is worldwide. A search-engine friendly website makes it easy for people in other countries who want what you sell to find your small business.
A website levels the playing field between small and large businesses.
There are many small and micro-business owners making phenomenal profits through their websites. An affordable, top-producing website is within the reach of almost any small business. A prospect who visits your website does not need to know that your "corporate office" is in your basement.
Small Business Websites - The Bad
Not all websites are created equal, though. For each small business earning phenomenal profits from their website, there are several others that don't even make enough to cover their hosting fees.
Low earning, low traffic websites can be traced to a number of causes, including: * website components that actually block your website from the search engines, * content that does not connect with your audience, * no calls to action, and * no way to collect leads.
Small Business Websites - the Ugly
It is bad enough to have a website that is not bringing in results. What is truly ugly, however, is when there are prospects actively searching for your business that end up being directed to your competitor's website.
Small Business Websites - The Good
A website boosts your small business' credibility.
When I taught my first website strategies class in 1998, websites were the exclusive domain of the most cutting edge businesses. Now, the first question a prospect will ask is "What is your website?"
They won't ask if you have a website, because everyone expects a bona-fide small business to have a website.
A website makes it easier for your raving fans to refer you business.
A web address is easier to remember than a telephone number. For that reason alone, having a web address your fans can remember smoothes the referral process. The benefits don't end there. By including testimonials, case studies, and samples on your web site, you make it easier for referrals to become clients.
The right website shortens the sales cycle.
The right website, created with persuasive content, will lower the number of calls you get from tire-kickers, looky-loos, and people looking to "nickel and dime" you. Instead, a website can weed these people out, so that you get calls and emails from prospects that are ready to buy.
A website expands your small business to new markets.
The market for a bricks and mortar store is typically a 5-mile radius. The Internet erases boundaries: the market for an internet-based business is worldwide. A search-engine friendly website makes it easy for people in other countries who want what you sell to find your small business.
A website levels the playing field between small and large businesses.
There are many small and micro-business owners making phenomenal profits through their websites. An affordable, top-producing website is within the reach of almost any small business. A prospect who visits your website does not need to know that your "corporate office" is in your basement.
Small Business Websites - The Bad
Not all websites are created equal, though. For each small business earning phenomenal profits from their website, there are several others that don't even make enough to cover their hosting fees.
Low earning, low traffic websites can be traced to a number of causes, including: * website components that actually block your website from the search engines, * content that does not connect with your audience, * no calls to action, and * no way to collect leads.
Small Business Websites - the Ugly
It is bad enough to have a website that is not bringing in results. What is truly ugly, however, is when there are prospects actively searching for your business that end up being directed to your competitor's website.
Thursday, July 2, 2009
7 Deadly Sins of Teen Small Business Ownership
Many people are quick to tell you what you need to do in order to succeed in business. But not so many people are explaining what not to do. And as it happens, knowing what to avoid, the common mistakes made by so many people who've failed at fulfilling their vision and living their dreams, is at least as critical for success as knowing what to do. Because of that, I've put together this handy and invaluable list of the 7 big 21st Century no-no's (aka 'The Small Business Disruptors 2.02) in making your small business work for you. You've heard all the "Do's", these are the "Don'ts", and whatever you do, don't you forget them! Brouhaha!!
1. Being a Jack of All Trades: A jack of all trades is a master of none, and success in business requires being the master of whatever it is you do. Small businesses that specialize in a specific area of their industry, catering to a niche market, tend to perform much better than those who attempt to have their hands in every pot in an effort to appeal to the whole swath of consumers out there. In business, it's far better to be an expert in one subject than to know a little bit about a lot of things.
Target your branding and marketing efforts to the specific group you serve. You're not out to win over the entire marketplace, and more, you never will. Concentrate your efforts on your target market and establish yourself as the authority in your specific niche. By laser-honing your branding and marketing efforts so, you'll save valuable funds from wasted efforts, and give your small business the greatest chance of becoming the recognized leader in your field.
2. Being a Know-it-All and Do-it-All: Along those same lines, don't try to do it all yourself. Having a business isn't supposed to create more work for you to do, it's supposed to create less and, conversely, more money and free time for you to explore more pleasurable pursuits.
Henry Ford is reputed as being one of the smartest minds of his time, and not because his head was filled with extensive knowledge on every subject. It wasn't. What made Henry Ford so smart was that he knew exactly who to ask for the correct answer to any question posed to him.
Take after Mr. Ford. Surround yourself with smart people in the areas where you'll need that knowledge put to work for your small business. That way, you can free your mind to focus on whatever it is you do best while you delegate the rest of the tasks you need accomplished to those people who have the most expertise in them. This is what is meant by "leveraging your resources". Avail yourself of the abundance of talented people out there - employees, associates, and freelancers alike. Outsource the work you need done. Your job is to hold the big picture in mind, not to personally handle ever nitty-gritty detail that arises.
3. All Work & No Play: As mentioned above, you presumably created this small business so that you could have more control over your time and greater access to the money that reaches the top of the food chain before it trickles down to the bottom rungs. Therefore, don't wait until you've achieved what you view as "success" before you allow yourself that flexibility and freedom.
Running a business requires a lot of you, and there is no way you will be able to manage all those demands if you're overworked and overtired. Prevent burnout before it happens. Allow yourself time to rest, recuperate, and play. Owning a business is about improving your quality of life, and there's no reason you can't start doing that right now.
Schedule in your free time if you must. And hold yourself as accountable for your own well-being as you do for your business accomplishments. Your only shot at success in business rides on you being present, alert, healthy, and happy enough to be able to make it happen.
4. Having a B Plan, Not a Plan B: Very few people get it right the first time, and that applies no less when it comes to success in business. There is no shame in having a Plan A that doesn't work. Learning what doesn't work, in fact, is one of the greatest ways to find out what does work.
The danger comes in when you are unwilling to recognize that your Plan A isn't working, whether out of ignorance, fear, or just plain stubbornness. Going hand-in-hand with that is a perilous lack of an alternate plan to the one that's not working.
Devise a Plan B that further refines and simplifies Plan A because Plan A is what you really want to do right? That way it won't be such a big deal when you discover that your current course is off, because you'll quickly, easily, and deftly be able to course correct with your next best plan of action.
5. Following History...Not Creating It: History belongs to those who write it. This isn't to say that it's unwise to learn from the successes and failures of your predecessors. On the contrary, those who came before you have a great deal to teach you. And learning from the mistakes of others is one of the fastest ways to hop on the fast track to success.
The "sin" being addressed here is about blazing ahead without keeping detailed and accurate records of your journey. How will you ever know how well you are doing if you aren't tracking your actions? Document everything you do - your intellectual property, ideas, steps, and processes.
Building a business is just that - building. And to build a solid, lasting business you need a strong foundation. Your records of all that you've done to date is that foundation, supporting all that your business achieves from this point on. With no such foundation, any business can crumble to dust at the slightest shake-up. Don't let that happen to you.
6. Avoiding Problems: If you're avoiding problems then you're also avoiding solutions. Problems = Opportunities. If you're avoiding problems then you're letting fear rule your business. Fear of trying and failing. You need to risk failure in order to achieve success, and if you shy away (or all-out run) from problems then you are cheating yourself of the possibility of breaking through them.
This point cannot be stressed enough. You must seek out problems, not avoid them. Look for problems. Embrace them as your ripest opportunities for major breakthrough.
7. Focusing Too Much on the Details: By now you've probably noticed that these "deadly sins" of business management (and their antitheses - strategies for success) are all interrelated, and it's no different with this last common error. As mentioned above, your number one job is to hold the big picture for the business in mind. Learn to build a network in which you can leverage other people in your network to provide expert opinion and simple solutions for your seemingly complex problems.
Even if you're currently the only "employee" you've got, you still need to view every last aspect of your business (no matter how small) as it applies to the larger picture. But if you focus on the details, you only create more details. So focus on the overall vision and you will help flesh it out and bring it to life.
It's extremely easy to get mired down in the minutiae of your business, but that's the quickest and easiest way to mire down your entire business. Instead, step back and examine the big picture. When you do that, you'd be surprised at how naturally the minutiae suddenly seems to fall right into place. No matter how stressful something may feel at the moment, keep moving swiftly towards the bigger goal and you will discover that once you get to the 'problems' that you were initially stressed out about everything and everyone you need will be there when you get there. And yes, they will be ready and willing to help you easily and quickly get through it.
1. Being a Jack of All Trades: A jack of all trades is a master of none, and success in business requires being the master of whatever it is you do. Small businesses that specialize in a specific area of their industry, catering to a niche market, tend to perform much better than those who attempt to have their hands in every pot in an effort to appeal to the whole swath of consumers out there. In business, it's far better to be an expert in one subject than to know a little bit about a lot of things.
Target your branding and marketing efforts to the specific group you serve. You're not out to win over the entire marketplace, and more, you never will. Concentrate your efforts on your target market and establish yourself as the authority in your specific niche. By laser-honing your branding and marketing efforts so, you'll save valuable funds from wasted efforts, and give your small business the greatest chance of becoming the recognized leader in your field.
2. Being a Know-it-All and Do-it-All: Along those same lines, don't try to do it all yourself. Having a business isn't supposed to create more work for you to do, it's supposed to create less and, conversely, more money and free time for you to explore more pleasurable pursuits.
Henry Ford is reputed as being one of the smartest minds of his time, and not because his head was filled with extensive knowledge on every subject. It wasn't. What made Henry Ford so smart was that he knew exactly who to ask for the correct answer to any question posed to him.
Take after Mr. Ford. Surround yourself with smart people in the areas where you'll need that knowledge put to work for your small business. That way, you can free your mind to focus on whatever it is you do best while you delegate the rest of the tasks you need accomplished to those people who have the most expertise in them. This is what is meant by "leveraging your resources". Avail yourself of the abundance of talented people out there - employees, associates, and freelancers alike. Outsource the work you need done. Your job is to hold the big picture in mind, not to personally handle ever nitty-gritty detail that arises.
3. All Work & No Play: As mentioned above, you presumably created this small business so that you could have more control over your time and greater access to the money that reaches the top of the food chain before it trickles down to the bottom rungs. Therefore, don't wait until you've achieved what you view as "success" before you allow yourself that flexibility and freedom.
Running a business requires a lot of you, and there is no way you will be able to manage all those demands if you're overworked and overtired. Prevent burnout before it happens. Allow yourself time to rest, recuperate, and play. Owning a business is about improving your quality of life, and there's no reason you can't start doing that right now.
Schedule in your free time if you must. And hold yourself as accountable for your own well-being as you do for your business accomplishments. Your only shot at success in business rides on you being present, alert, healthy, and happy enough to be able to make it happen.
4. Having a B Plan, Not a Plan B: Very few people get it right the first time, and that applies no less when it comes to success in business. There is no shame in having a Plan A that doesn't work. Learning what doesn't work, in fact, is one of the greatest ways to find out what does work.
The danger comes in when you are unwilling to recognize that your Plan A isn't working, whether out of ignorance, fear, or just plain stubbornness. Going hand-in-hand with that is a perilous lack of an alternate plan to the one that's not working.
Devise a Plan B that further refines and simplifies Plan A because Plan A is what you really want to do right? That way it won't be such a big deal when you discover that your current course is off, because you'll quickly, easily, and deftly be able to course correct with your next best plan of action.
5. Following History...Not Creating It: History belongs to those who write it. This isn't to say that it's unwise to learn from the successes and failures of your predecessors. On the contrary, those who came before you have a great deal to teach you. And learning from the mistakes of others is one of the fastest ways to hop on the fast track to success.
The "sin" being addressed here is about blazing ahead without keeping detailed and accurate records of your journey. How will you ever know how well you are doing if you aren't tracking your actions? Document everything you do - your intellectual property, ideas, steps, and processes.
Building a business is just that - building. And to build a solid, lasting business you need a strong foundation. Your records of all that you've done to date is that foundation, supporting all that your business achieves from this point on. With no such foundation, any business can crumble to dust at the slightest shake-up. Don't let that happen to you.
6. Avoiding Problems: If you're avoiding problems then you're also avoiding solutions. Problems = Opportunities. If you're avoiding problems then you're letting fear rule your business. Fear of trying and failing. You need to risk failure in order to achieve success, and if you shy away (or all-out run) from problems then you are cheating yourself of the possibility of breaking through them.
This point cannot be stressed enough. You must seek out problems, not avoid them. Look for problems. Embrace them as your ripest opportunities for major breakthrough.
7. Focusing Too Much on the Details: By now you've probably noticed that these "deadly sins" of business management (and their antitheses - strategies for success) are all interrelated, and it's no different with this last common error. As mentioned above, your number one job is to hold the big picture for the business in mind. Learn to build a network in which you can leverage other people in your network to provide expert opinion and simple solutions for your seemingly complex problems.
Even if you're currently the only "employee" you've got, you still need to view every last aspect of your business (no matter how small) as it applies to the larger picture. But if you focus on the details, you only create more details. So focus on the overall vision and you will help flesh it out and bring it to life.
It's extremely easy to get mired down in the minutiae of your business, but that's the quickest and easiest way to mire down your entire business. Instead, step back and examine the big picture. When you do that, you'd be surprised at how naturally the minutiae suddenly seems to fall right into place. No matter how stressful something may feel at the moment, keep moving swiftly towards the bigger goal and you will discover that once you get to the 'problems' that you were initially stressed out about everything and everyone you need will be there when you get there. And yes, they will be ready and willing to help you easily and quickly get through it.
Wednesday, June 24, 2009
Small Business Accounting Firms - Your Ladder to Success
You would agree with the fact, that first five years of a business is very hard to get through. If the business survives, the first five years, then no doubts, it will yield good returns later or sooner. Most business entities wind up their business in first five years, either due to lack of funds or lack of business management. They are inexperienced and are not able to direct their funds and energy in the right direction. This brought in the concept of small business accounting firms in the scenario.
Small business accounting firm popularity has seen a tremendous growth recently. The reason is that the new business entities or the one which are recurring constant losses prefer to get the services of small business accounting firm outsourced. The small business accounting firm helps the business houses to manage their funds efficiently and make most of it.
The Small business accounting firm recruits well qualified and professional staff to help people have a hassle free fund management. The employees are all CPA's which make their services reliable and trustworthy. Their services are sure to take your business to a high level, making it run successfully. The professionals help you in maintaining the business records, account book and sales record. They even help them cutting down their expenses and economizing their purchases. Sales promotion is even looked by them. They target the audience, so as to minimize the expenses on the sales promotion.
By availing the services of small business accounting firms, the business firms even economize on maintaining staff for managing and handling various departments. The firms look after all the aspects necessary for running a successful business. No matter how dedicatedly you work, until your efforts are directed to the key areas, all is a waste. Without a second opinion, everyone agrees to the fact that accounts are the most important aspect of any business. It requires special attention and professional assistance.
If you want to look out for a small business accounting firm the easiest option is search online and you will get long list of them. You can shortlist two or three of them and then compare their price quotes and their policies. If possible view the list of the existing clients and read their reviews if given on their website. If any of your kin or kith, recently outsourced the services of small business accounting firm ask their experience. If they sound satisfied, you can even choose the same accounting firm.
But, before you choose the firm, be careful, as it pertains to your life and career. They should be sincere and dedicated and give attention to the business issues, to make it bloom, among the existing names. Make sure that the firm keeps your details confidential, as all your valuable data is in their hands. The names of the buyers and suppliers are with them. Also, the small business accounting firms make sure that the client is well satisfied with the quality of their services, as customer satisfaction is their motto.
Small business accounting firm popularity has seen a tremendous growth recently. The reason is that the new business entities or the one which are recurring constant losses prefer to get the services of small business accounting firm outsourced. The small business accounting firm helps the business houses to manage their funds efficiently and make most of it.
The Small business accounting firm recruits well qualified and professional staff to help people have a hassle free fund management. The employees are all CPA's which make their services reliable and trustworthy. Their services are sure to take your business to a high level, making it run successfully. The professionals help you in maintaining the business records, account book and sales record. They even help them cutting down their expenses and economizing their purchases. Sales promotion is even looked by them. They target the audience, so as to minimize the expenses on the sales promotion.
By availing the services of small business accounting firms, the business firms even economize on maintaining staff for managing and handling various departments. The firms look after all the aspects necessary for running a successful business. No matter how dedicatedly you work, until your efforts are directed to the key areas, all is a waste. Without a second opinion, everyone agrees to the fact that accounts are the most important aspect of any business. It requires special attention and professional assistance.
If you want to look out for a small business accounting firm the easiest option is search online and you will get long list of them. You can shortlist two or three of them and then compare their price quotes and their policies. If possible view the list of the existing clients and read their reviews if given on their website. If any of your kin or kith, recently outsourced the services of small business accounting firm ask their experience. If they sound satisfied, you can even choose the same accounting firm.
But, before you choose the firm, be careful, as it pertains to your life and career. They should be sincere and dedicated and give attention to the business issues, to make it bloom, among the existing names. Make sure that the firm keeps your details confidential, as all your valuable data is in their hands. The names of the buyers and suppliers are with them. Also, the small business accounting firms make sure that the client is well satisfied with the quality of their services, as customer satisfaction is their motto.
Thursday, June 18, 2009
Using Greeting Cards in Your Small Business
People are hit with advertising messages everywhere they go. Even the White Sox game I went to had the foul balls sponsored by a company. Anything you can do to relieve that feeling of bombardment will help you stay at the top of your clients' and prospects' minds which will build relationships that last.
An effective way to keep that top spot in your clients' minds without advertising is greeting cards People send only about 12 greeting cards per year on average (outside the holiday season), so getting one is a memorable event. This gives your greeting card an automatic leg up on the competition.
The company I'm familiar with (I am a distributor for them) is Send Out Cards, but you could also buy or make your own cards instead. Hiring an assistant to complete this duty may help streamline the process. Send Out Cards, by way of example, offers postcards, greeting cards and tri-fold cards that are customizable, high-quality, and inexpensive. Whichever method you find, the message should be from you, heart-felt and sincere, without advertising. Send them for birthdays, anniversaries, thank yous, promotions, and other meaningful times in your contacts' lives.
If you must advertise, greeting cards can help distinguish your piece from others your client may receive. By customizing the cover and the content, your greeting card could highlight a product or promote a service or seminar. People often sit greeting cards up on their desk, giving your client a reminder of the event or product every time he looks up. I think that a tri-fold card would make a great mini-catalog and would be a lovely advertising piece.
Another use for greeting cards in business are business thank yous. Businesses often need to thank other people for business, referrals, leads, and help, and greeting cards are a classy way to say thank you in a memorable, heart-felt way.
You can also send greeting cards for no reason. Sending someone a picture of themselves at a company event or party (especially if you hosted the event!) along with a handwritten message about how it made you smile, for example, is a nice way to tell your business contact how much you care.
Whatever cards you send, be sure you write a personal, heart-felt message, include personal touches such as a photo or news article, and be sure to sign it. Add your company name or business card if you aren't sure the receiver will recognize your name.
An effective way to keep that top spot in your clients' minds without advertising is greeting cards People send only about 12 greeting cards per year on average (outside the holiday season), so getting one is a memorable event. This gives your greeting card an automatic leg up on the competition.
The company I'm familiar with (I am a distributor for them) is Send Out Cards, but you could also buy or make your own cards instead. Hiring an assistant to complete this duty may help streamline the process. Send Out Cards, by way of example, offers postcards, greeting cards and tri-fold cards that are customizable, high-quality, and inexpensive. Whichever method you find, the message should be from you, heart-felt and sincere, without advertising. Send them for birthdays, anniversaries, thank yous, promotions, and other meaningful times in your contacts' lives.
If you must advertise, greeting cards can help distinguish your piece from others your client may receive. By customizing the cover and the content, your greeting card could highlight a product or promote a service or seminar. People often sit greeting cards up on their desk, giving your client a reminder of the event or product every time he looks up. I think that a tri-fold card would make a great mini-catalog and would be a lovely advertising piece.
Another use for greeting cards in business are business thank yous. Businesses often need to thank other people for business, referrals, leads, and help, and greeting cards are a classy way to say thank you in a memorable, heart-felt way.
You can also send greeting cards for no reason. Sending someone a picture of themselves at a company event or party (especially if you hosted the event!) along with a handwritten message about how it made you smile, for example, is a nice way to tell your business contact how much you care.
Whatever cards you send, be sure you write a personal, heart-felt message, include personal touches such as a photo or news article, and be sure to sign it. Add your company name or business card if you aren't sure the receiver will recognize your name.
Sunday, June 14, 2009
Small Business Health Insurance Quotes - Get the Best Quote by Doing This
It's actually very easy to get small business health insurance quotes these days because of the internet. There are literally thousands of health insurance companies online that want your business and some are paying enormous amounts of money each month in order to get your ads in front of your face.
Basically, all you need to do is do a bit of research and then narrow down your options. This isn't much different from trying to find a great quote for car insurance. All you do is grab 3-5 small business health insurance quotes to get you started and then compare the cost of each one. Most of these companies will be representing several different insurers so you should easily be able to find a comparable quote with 3-5 companies.
Once you've received your quotes you'll want to actually speak to an agent or representative by phone before make a decision. You'll want to get a written quote that includes every fee you'll be charged for the policy, including monthly, quarterly, semi-annual and annual payment options. You'll probably be able to save money if you choose an annual or semi-annual option as this requires the insurance company to do less processing on your behalf.
It's very important that you're able to read the policy before you agree to accept it. There is a section within each health insurance policy that's called "Exclusions" and you need to read it thoroughly. These are the things that the policy will not provide coverage for. You need to be aware of what you are actually covered for so you don't get a false sense of security. Also, find out what the maximum coverage limits are on the policy. You'll have a limit on each individual item listed within the policy such as, ambulance, hospital care, physician, etc. Make sure that you are comfortable with these coverage amounts.
Getting small business health insurance quotes is not that big of an issue, but you want to make absolutely sure that you're buying adequate coverage for your employees and that you're getting the best value for the cost. Sit down and compare before you buy and don't immediately jump on the cheapest plan until you know exactly what you're getting first.
Basically, all you need to do is do a bit of research and then narrow down your options. This isn't much different from trying to find a great quote for car insurance. All you do is grab 3-5 small business health insurance quotes to get you started and then compare the cost of each one. Most of these companies will be representing several different insurers so you should easily be able to find a comparable quote with 3-5 companies.
Once you've received your quotes you'll want to actually speak to an agent or representative by phone before make a decision. You'll want to get a written quote that includes every fee you'll be charged for the policy, including monthly, quarterly, semi-annual and annual payment options. You'll probably be able to save money if you choose an annual or semi-annual option as this requires the insurance company to do less processing on your behalf.
It's very important that you're able to read the policy before you agree to accept it. There is a section within each health insurance policy that's called "Exclusions" and you need to read it thoroughly. These are the things that the policy will not provide coverage for. You need to be aware of what you are actually covered for so you don't get a false sense of security. Also, find out what the maximum coverage limits are on the policy. You'll have a limit on each individual item listed within the policy such as, ambulance, hospital care, physician, etc. Make sure that you are comfortable with these coverage amounts.
Getting small business health insurance quotes is not that big of an issue, but you want to make absolutely sure that you're buying adequate coverage for your employees and that you're getting the best value for the cost. Sit down and compare before you buy and don't immediately jump on the cheapest plan until you know exactly what you're getting first.
Thursday, June 4, 2009
Six Great Ways to Market Your Small Business
What are the effective ways to market your business? The following are six tips highly recommended for people who want to see real results from their advertising efforts.
1. Actively collect emails from your clients by putting forms on your sites and recommending them to subscribe to your mailing list. You can use the auto response system to reduce the hassle of sending and tracking emails. Be sure to send your newsletter on a regular basis so that your clients can receive updates and remind them that you are in business. Also, you must give them the option to unsubscribe if they choose.
2. Use pay per click system. You post advertisements on various sites and let them do the advertising for you. You pay for clicks generated and this is preferred to fixed costs advertising, because you do not need to pay so much for ineffective advertisers.
3. Submit your site to major search engine providers, but one must exercise prudence here. If you submit too often, they might resort to banning your site. For smaller search engines, there is no such worry so it's good to use software to submit the site.
4. Create a signature file. A signature file is a short message that appears under every message you sends out. It should contain your contact information, the site that you are promoting and a description on the product you are trying to promote. Keep it short, simple and sweet.
5. Submit articles to eZine. Write articles that have relevance with the thing you are trying to promote and submit it to eZine. This allows you to reach millions for free, although an investment in time is needed.
6. Update your site daily with news feed and announcements. Offer freebies once in a while. This leads to greater traffic because of better relations to existing customers who might recommend your site to those in their network. In a way, this word of mouth is free advertising in your advantage.
1. Actively collect emails from your clients by putting forms on your sites and recommending them to subscribe to your mailing list. You can use the auto response system to reduce the hassle of sending and tracking emails. Be sure to send your newsletter on a regular basis so that your clients can receive updates and remind them that you are in business. Also, you must give them the option to unsubscribe if they choose.
2. Use pay per click system. You post advertisements on various sites and let them do the advertising for you. You pay for clicks generated and this is preferred to fixed costs advertising, because you do not need to pay so much for ineffective advertisers.
3. Submit your site to major search engine providers, but one must exercise prudence here. If you submit too often, they might resort to banning your site. For smaller search engines, there is no such worry so it's good to use software to submit the site.
4. Create a signature file. A signature file is a short message that appears under every message you sends out. It should contain your contact information, the site that you are promoting and a description on the product you are trying to promote. Keep it short, simple and sweet.
5. Submit articles to eZine. Write articles that have relevance with the thing you are trying to promote and submit it to eZine. This allows you to reach millions for free, although an investment in time is needed.
6. Update your site daily with news feed and announcements. Offer freebies once in a while. This leads to greater traffic because of better relations to existing customers who might recommend your site to those in their network. In a way, this word of mouth is free advertising in your advantage.
Saturday, May 30, 2009
Why It's Called the Small Business Loan Alternative
The word alternative is used to describe something that is able to serve as a substitute for something else. Business cash advances are often referred to as the small business loan alternative because they are capable of satisfying the same needs as a small business loan.
In short, small business loans are used to finance business endeavors. Usually, business owners need more money than they have on their own in order to put a business plan into action. Banks usually provide borrowers with the extra funds that they may lack, on the premises that the loan will be repaid in a timely manner. These loans are made available because it is understood, that small business is an important part of the economy, as they employ over half of the American workforce and from 1998 to 2004 they produced more than 50 percent of the private, non-farm Gross Domestic Product.
Quite often, small business loan applicants have their loan requests denied. This can happen for various reasons. A borrower can be rejected because he does not have collateral. Many banks require collateral to secure the loan. Banks want to be sure that they will get their money back no matter what, so if an applicant does not have collateral, it poses more of a risk to the banks.
An applicant may also be denied because the lender does not feel that she presented a sound business plan, or because his credit score is not good enough.
When this happens, it is time for applicants to seek another form of financing that, as stated earlier, is able to serve as a substitute for their initial choice. In comes the business cash advance, the small business loan alternative.
Business cash advance lenders do not impose as many requirements as most other lenders. Borrowers are not required to have collateral, nor are they required to have excellent credit scores. Usually, if a business owner has a business that has been in operation for at least four months and that business processes at least $2,500 in monthly credit card sales, he/she can be approved for a business cash advance.
If you've tried to get a small business loan, but have been unsuccessful, it may be time for you to consider a small business loan alternative. Let a business cash advance solve your business financing problems.
In short, small business loans are used to finance business endeavors. Usually, business owners need more money than they have on their own in order to put a business plan into action. Banks usually provide borrowers with the extra funds that they may lack, on the premises that the loan will be repaid in a timely manner. These loans are made available because it is understood, that small business is an important part of the economy, as they employ over half of the American workforce and from 1998 to 2004 they produced more than 50 percent of the private, non-farm Gross Domestic Product.
Quite often, small business loan applicants have their loan requests denied. This can happen for various reasons. A borrower can be rejected because he does not have collateral. Many banks require collateral to secure the loan. Banks want to be sure that they will get their money back no matter what, so if an applicant does not have collateral, it poses more of a risk to the banks.
An applicant may also be denied because the lender does not feel that she presented a sound business plan, or because his credit score is not good enough.
When this happens, it is time for applicants to seek another form of financing that, as stated earlier, is able to serve as a substitute for their initial choice. In comes the business cash advance, the small business loan alternative.
Business cash advance lenders do not impose as many requirements as most other lenders. Borrowers are not required to have collateral, nor are they required to have excellent credit scores. Usually, if a business owner has a business that has been in operation for at least four months and that business processes at least $2,500 in monthly credit card sales, he/she can be approved for a business cash advance.
If you've tried to get a small business loan, but have been unsuccessful, it may be time for you to consider a small business loan alternative. Let a business cash advance solve your business financing problems.
Saturday, May 23, 2009
Search Marketing Value For Small Business Advertising
Search engine marketing has evolved as a cost effective advertising strategy to connect business with communities across the globe. Search marketing can expand the customer base quickly while offering new opportunities that continue to evolve as more and more consumers use the internet for information, entertainment and purchasing.
Establishing an effective marketing strategy online enables small business to compete with big business. According SEO expert, Zach Good, "Search marketing levels the playing field for small business and individuals." Business marketing executives should first examine the various ways consumers search for their product and service information. By doing so, you will establish a cost-effective marketing campaign while developing a web presence that will ultimately generate more traffic, more leads and increased sales. Promoting your business online is essential for connecting with more customers and reducing advertising costs.
Search engine optimization or "SEO" is term used to describe the process of incorporating content with web development and HTML programming. Needless to say, SEO is an art and a modern skilled trade. Very few webmasters and marketing executives understand the evolving science of search marketing. There are several styles and SEO methods, but in the end a comprehensive website rich with content that delivers relevant information to a targeted audience is the best long term search strategy. An effective search marketing company can enhance image and improve communication by adding and revising content and optimizing internal and external link navigation. In addition, search engine optimization can fix and rehabilitate the linking architecture that drives the pages of your website.
Many so-called SEO experts cut corners to achieve quick results that fade fast. Many people are able to trick the search engines, but eventually the "black-hat" marketing is revealed and most search engines will penalize the website significantly. This underscores the importance of working with an internet marketing company that will promote your business constructively without putting your site at risk to be penalized.
Establishing an effective marketing strategy online enables small business to compete with big business. According SEO expert, Zach Good, "Search marketing levels the playing field for small business and individuals." Business marketing executives should first examine the various ways consumers search for their product and service information. By doing so, you will establish a cost-effective marketing campaign while developing a web presence that will ultimately generate more traffic, more leads and increased sales. Promoting your business online is essential for connecting with more customers and reducing advertising costs.
Search engine optimization or "SEO" is term used to describe the process of incorporating content with web development and HTML programming. Needless to say, SEO is an art and a modern skilled trade. Very few webmasters and marketing executives understand the evolving science of search marketing. There are several styles and SEO methods, but in the end a comprehensive website rich with content that delivers relevant information to a targeted audience is the best long term search strategy. An effective search marketing company can enhance image and improve communication by adding and revising content and optimizing internal and external link navigation. In addition, search engine optimization can fix and rehabilitate the linking architecture that drives the pages of your website.
Many so-called SEO experts cut corners to achieve quick results that fade fast. Many people are able to trick the search engines, but eventually the "black-hat" marketing is revealed and most search engines will penalize the website significantly. This underscores the importance of working with an internet marketing company that will promote your business constructively without putting your site at risk to be penalized.
Thursday, May 14, 2009
Cheap Small Business Health Insurance Quote - How to Get It
Small business owners aren't required to provide health insurance coverage for their employers but this benefit can help attract the best employees.
Of course, you want to get the best small business health insurance quote possible for the lowest possible cost. Follow these tips to find a good insurance plan that you and your employees can afford.
What Coverages and Deductibles Can You Offer?
You need to think about what type of coverages you can offer your employees and how high the deductible should be. The more coverage you offer, the higher the premium will be. Conversely, the higher the deductible, the lower the premium.
Jump in a Pool
Small businesses are typically defined as having 2-50 employees. This size doesn't give a business owner the leverage with insurance companies that larger businesses have.
However, small businesses can join together to form alliances and to purchase insurance as a group. By forming a group, small business owners can benefit from the same price breaks that larger businesses enjoy.
To find out about insurance pools in your city or state, contact your local chamber of commerce or state insurance commissioner.
Consider Your Options
Many types of cheap health insurance policies are available for you to choose from for your business.
Organized medical networks such as HMOs and PPOs are often the least expensive choices. HMOs typically have the lowest premiums but offer the least flexibility. PPOs, on the other hand, cost slightly more but offer more choices in selecting a health care provider.
Another option to consider is a Health Savings Account (HSA). Similar to an IRA, an HSA lets your employees set aside money, tax-free, that they can use for medical bills.
No matter what type of plan you ultimately decide is best for your company, make sure you shop around to find the best rate.
Go to an insurance comparison website where you can quickly and easily locate plans that meet your needs. Then all you have to do is compare the coverage and prices and choose the best plan.
Of course, you want to get the best small business health insurance quote possible for the lowest possible cost. Follow these tips to find a good insurance plan that you and your employees can afford.
What Coverages and Deductibles Can You Offer?
You need to think about what type of coverages you can offer your employees and how high the deductible should be. The more coverage you offer, the higher the premium will be. Conversely, the higher the deductible, the lower the premium.
Jump in a Pool
Small businesses are typically defined as having 2-50 employees. This size doesn't give a business owner the leverage with insurance companies that larger businesses have.
However, small businesses can join together to form alliances and to purchase insurance as a group. By forming a group, small business owners can benefit from the same price breaks that larger businesses enjoy.
To find out about insurance pools in your city or state, contact your local chamber of commerce or state insurance commissioner.
Consider Your Options
Many types of cheap health insurance policies are available for you to choose from for your business.
Organized medical networks such as HMOs and PPOs are often the least expensive choices. HMOs typically have the lowest premiums but offer the least flexibility. PPOs, on the other hand, cost slightly more but offer more choices in selecting a health care provider.
Another option to consider is a Health Savings Account (HSA). Similar to an IRA, an HSA lets your employees set aside money, tax-free, that they can use for medical bills.
No matter what type of plan you ultimately decide is best for your company, make sure you shop around to find the best rate.
Go to an insurance comparison website where you can quickly and easily locate plans that meet your needs. Then all you have to do is compare the coverage and prices and choose the best plan.
Saturday, May 9, 2009
The Deal With Small Business Grants
"Deal or no Deal?" - Catchphrase question asked by Howie Mandel to contestants on "Deal or no Deal".
When the banker makes an offer on "Deal or no Deal," it's usually not one that benefits a contestant. But a small business grant is a deal that can benefit a business owner.
Unlike a business loan, that must be repaid, a grant is a gift. The translation is that it's truly a gift, with no strings or future obligations attached. It doesn't matter if a business already exists or is still in the planning stages, businesses are eligible to obtain such a grant under both scenarios.
Numerous government agencies, non-profits and other organizations can be found that are eager to award money to small businesses. Why? Because giving grant money not only helps a business with revenues but also improves the community they serve through increased buying which benefits the economy.
Many hours can be involved in trying to find government grants. Most state and provinces provide detailed information about applying on the Internet sites of their economic development offices. Someone searching for a business grant may also find what they are looking for on other organization Internet sites. But the key to success is finding an organization that specializes in such grants, as opposed to those for other business pursuits.
The outlook for obtaining a grant to start a small business is even better for women and other minorities because government bodies enjoy promoting business ownership by those groups. Obtaining this type of grant money may also be easier for someone wanting to open a business in an area that is economically deprived. Other groups for which a start-up money may be targeted toward include:
* Individuals with disabilities
* Native Americans
* Veterans
A small business grant, like any other grant is awarded after applying and approval by the municipality or organization which awards the grant. But requesting government money isn't about simply picking up a telephone and making the request.
The awarding of a government grant is followed by a small business owner submitting a detailed business plan. The plan should specifically identify how the money will be spent. A review of the request will most likely be looked on even more favorably if the business owner can identify how the small business will benefit the community in which it will be located.
A request for a grant money takes more than just writing a brief letter. The request should be detailed. Because applying for grants is also a talent, many companies and non-profits hire individuals to perform such tasks. Help in writing a government grant request can be found through a service for professionals who offer the service, along with employment classifieds in newspapers.
Beyond a doubt, "free" money from the government is a deal small business owners should not pass on. With no risks or obligations and a guarantee of helping a business, the only response when it comes to a small business grant is "Deal!"
When the banker makes an offer on "Deal or no Deal," it's usually not one that benefits a contestant. But a small business grant is a deal that can benefit a business owner.
Unlike a business loan, that must be repaid, a grant is a gift. The translation is that it's truly a gift, with no strings or future obligations attached. It doesn't matter if a business already exists or is still in the planning stages, businesses are eligible to obtain such a grant under both scenarios.
Numerous government agencies, non-profits and other organizations can be found that are eager to award money to small businesses. Why? Because giving grant money not only helps a business with revenues but also improves the community they serve through increased buying which benefits the economy.
Many hours can be involved in trying to find government grants. Most state and provinces provide detailed information about applying on the Internet sites of their economic development offices. Someone searching for a business grant may also find what they are looking for on other organization Internet sites. But the key to success is finding an organization that specializes in such grants, as opposed to those for other business pursuits.
The outlook for obtaining a grant to start a small business is even better for women and other minorities because government bodies enjoy promoting business ownership by those groups. Obtaining this type of grant money may also be easier for someone wanting to open a business in an area that is economically deprived. Other groups for which a start-up money may be targeted toward include:
* Individuals with disabilities
* Native Americans
* Veterans
A small business grant, like any other grant is awarded after applying and approval by the municipality or organization which awards the grant. But requesting government money isn't about simply picking up a telephone and making the request.
The awarding of a government grant is followed by a small business owner submitting a detailed business plan. The plan should specifically identify how the money will be spent. A review of the request will most likely be looked on even more favorably if the business owner can identify how the small business will benefit the community in which it will be located.
A request for a grant money takes more than just writing a brief letter. The request should be detailed. Because applying for grants is also a talent, many companies and non-profits hire individuals to perform such tasks. Help in writing a government grant request can be found through a service for professionals who offer the service, along with employment classifieds in newspapers.
Beyond a doubt, "free" money from the government is a deal small business owners should not pass on. With no risks or obligations and a guarantee of helping a business, the only response when it comes to a small business grant is "Deal!"
Saturday, May 2, 2009
How to Find the Best Small Business Payroll Service
As a small business owner I know that there are many choices out there for business services. It seems that there are new vendors popping up each month, all touting how their product or service is superior. I recently was browsing the internet for a small business payroll service. I saw the big players in the market: Intuit, Microsoft and ADP. I also saw a handful of smaller companies I hadn't heard of like Paychex, PayCycle and CheckPoint. I wasn't sure how best to choose the right small business payroll service for my business. It would be nice to go with the trusted provider, but did I really need to be spending all that money? And if I went with one of the unknown companies would I regret it later? After all, this is part of my business and I want it to be in good hands. I ended up doing research and putting together some decision-making criteria on how to find the best small business payroll software.
Should I Use an Offline or Online Solution?
If your business has fewer than 50 employees, go with an online service. You'll get a good service at a much better rate than you would with enterprise software or by hiring an outside firm. Online small business payroll services make administration much easier because they have built-in tools and calculators that do much of the paperwork for you. Larger companies should stick with offline software packages because they likely need more functionality and support.
Can I Do it Myself?
Most small business owners are looking for ways to cut costs. Doing your own payroll used to be hard to do because there weren't many easy to use services. Nowadays pretty much every service is tailored so that you can do the job yourself using self-explanatory explanations. The best option for "do-it-yourselfers" is online payroll software because of the speed and cost savings.
Do They Offer a Free Trial?
Most of the small business payroll services offer some type of free trial, whether it is online or from a software demo. Try out a few of them and see which best fits your needs.
Finding the best small business payroll service is a different process for every business owner. This is because every business is different and you may require different things. If you want to use the industry standard software because it's what you know best then you should stick with that. If you are looking to save costs or minimize your involvement in the process then an online small business payroll service would be best. The important thing is to find a small business payroll service that will help meet your business objectives.
Should I Use an Offline or Online Solution?
If your business has fewer than 50 employees, go with an online service. You'll get a good service at a much better rate than you would with enterprise software or by hiring an outside firm. Online small business payroll services make administration much easier because they have built-in tools and calculators that do much of the paperwork for you. Larger companies should stick with offline software packages because they likely need more functionality and support.
Can I Do it Myself?
Most small business owners are looking for ways to cut costs. Doing your own payroll used to be hard to do because there weren't many easy to use services. Nowadays pretty much every service is tailored so that you can do the job yourself using self-explanatory explanations. The best option for "do-it-yourselfers" is online payroll software because of the speed and cost savings.
Do They Offer a Free Trial?
Most of the small business payroll services offer some type of free trial, whether it is online or from a software demo. Try out a few of them and see which best fits your needs.
Finding the best small business payroll service is a different process for every business owner. This is because every business is different and you may require different things. If you want to use the industry standard software because it's what you know best then you should stick with that. If you are looking to save costs or minimize your involvement in the process then an online small business payroll service would be best. The important thing is to find a small business payroll service that will help meet your business objectives.
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