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.
Every day the usage of mobile devices like smartphones is increasing. People, including your customers, will be reading your content, looking up your contact information, and more from their mobile devices. If you don’t focus on the experience that these users are receiving you’ll surely miss out on a large chunk of potential customers.Read More >
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 >
Your business cards are an integral part of your overall branding and a powerful marketing tool. But, you need to make sure that your business cards are memorable, lest they end up in the back of a desk drawer, forgotten forever.Read More >
Working from home as a consultant can be absolutely wonderful: you set your own hours and save tons of time not having to commute to and from the office.Read More >
The day of a small business owner is packed with obligations and responsibilities. From company meetings, to managing your personal life outside of work, prioritizing your time is a vital skill to cultivate. Here’s how you can learn to prioritize your time so that you get the most out of each day, without stressing too much.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 >
How do you recruit top performers for your small business? If you’re like many businesses, you might be relying on resumes being sent in response to job postings, or perhaps you’re using a recruiting firm. However, there are better ways to seek out new talent, like reaching out to them directly. Here’s how you can find valuable employees without having to wait for them to find you.Read More >
As a business owner it can be tough to step back and relinquish some control. This mindset may have been helpful at the beginning of your business journey, but now that you’re growing and have employees it’s time to let them take on some of responsibility. That’s why you hired them, after all.Read More >