It may sound like a good problem to have, but rapid growth can actually capsize a business just as quickly as stagnation. However appealing it may seem, unchecked business expansion is often accompanied by specific liabilities and potential dangers.Read More >
Throughout the country, countless businesses face data challenges related to sharing, security, storage and redundancies. Unfortunately, too many are held back by razor-thin budgets and what they perceive as narrow options. With cloud storage, both large and small businesses enjoy practical, cost-effect solutions for data storage and seamless sharing.Read More >
It really depends on the nature of your small business and the demographics of your customers. This social platform fills a very specific niche within the social media market, so the more you can learn about it, the better you can assess its benefits to your small business.Read More >
Managing payroll for a small business is no easy task: there can be a lot of paperwork and your employees could become frustrated if this important part of their jobs isn't handled properly. Follow these steps to help you manage your staff payroll and benefits.
With most consumers having access to a smartphone or tablet, many interact with brands they love via a personalized mobile app. But is a mobile app the right fit for every business? Before you rush into investing in the time, resources and expertise that a mobile app requires, first investigate the pros and cons that you need to know as a small business owner. First, it’s true that mobile use is expanding across almost every demographic, and at the core of the mobile revolution is the app, but you have to realize that app development is totally different depending on what platform your audience is using. That means that before you go crazy developing an app, you need to know where the majority of your customers live. Are your small business customers sophisticated technology workers who are all armed with their trusty iPhone? Are they affluent consumers who are always on the best and newest device? Or are your customers working joes buying their lunches and birthday presents on mid-range Android devices or other platforms?Read More >
Trying to get the word out about your business on a limited budget? Your market strategy for your startup will really depend on your individual business goals, timeline and available resources. Search engine optimization (SEO) is generally cost-effective but it takes time. Pay-per-click advertising is more expensive but produces results right away. These are just two of many available strategies including social media, traditional public relations, and inbound marketing.
The inflow and outflow of cash into and out of a business reflects the health of that operation. That’s why it’s important as a small business owner to be able to read and understand a fundamental financial document called a cash flow statement, or statement of cash flows. This instrument is used to track the flow of working capital into and out of a business during a given accounting period. While the income statement and balance sheet are helpful for understanding the financial standing of your small business, they do not take into account the complexity of cash flow over time. It’s also important to note here that cash flow analysis can result in actionable intelligence that can allow you to make large or small adjustments to day-to-day operations to improve efficiencies or help you better decide when it’s time to bring in investors to help you grow. Cash flow analysis is critical for small businesses and should be evaluated at least quarterly, if not more often.
It’s important to set appropriate goals for your startup business. By its very nature, managing a startup is like flying by the seat of your pants. Because the company is brand new, founders and their employees often have to make things up as they go, with few opportunities to take a moment to breath and do a self-check to see how they are really doing. This style of working is starting to change as new benchmarking trends promise to provide insight as to how well a given startup stacks up against peers and competitors. The question is, are these benchmarks relevant to all startups and do they really help new businesses succeed? Let’s take a closer look.Read More >
By extension, intrapreneurs help promote innovation within a company, allowing higher ups like the CEO to focus on running the business. An intrapreneur is someone within a company, whether it’s a large, multi-layered operation or simply a small business, who takes risks in an effort to solve a given problem. Examining the role of intrapreneurs within the structure of a small business or entrepreneurial enterprise can be complex.
For most small businesses, marketing campaigns focus primarily on turning prospects into purchasers. However, you shouldn’t neglect your existing customers who already contribute revenue to your business.Read More >
KPIs, or Key Performance Indicators, are the key figures calculated or located within your startup’s financial data. Digging into them reveals how well a startup is performing. They’re very useful.
As an entrepreneur orsmall business owner, the idea of stealing clients away from a big brand can seem like an impossible task. Often times, trying to compete on price is out of the question.Read More >
If you’re running a small business there’s no doubt that you have some vital and sensitive information about your company and its customer’s stored online. This means that knowing some cyber security facts and protocols can come in extremely handy when it comes to keeping your business and it’s information safe.Read More >
Today’s marketplace is highly competitive, and oftentimes a great product alone isn’t enough to ensure success. Customers will be more likely to stick with your brand if they’ve had a positive experience with your overall customer service, but why is this personal touch more important than ever before? Keep reading to find out five compelling reasons why your small business needs to excel in this department.Read More >