Tag Archives: small business

Jul 2016

Small Businesses: How to Choose the Perfect Location

Antique golden compass on wood background concept for direction, travel, guidance or assistance

Choosing a business location is one of the most important decisions a small business owner has to make. It requires serious and precise planning and research. Demographics have to be looked into seriously, and the supply chain must be assessed thoroughly. Not only that, but competitions should be scoped, budgets must be met, and state …

Jul 2016

10 Helpful Small Business Budgeting Tips

Business chart showing financial success

Not many entrepreneurs know a lot of things about finances. In fact, some businesses fail because their funds were mismanaged. The problem is, whether you like it or not, finances are an important factor when running a business – both big and small.   Here are some helpful financing tips that can surely do more …

Jul 2016

10 Business Advices You Should Not Miss Out On

Business man working at office with laptop and documents on his desk, consultant lawyer concept

Business successes and failures teach entrepreneurs many things – what to do and what not to when starting a business. There are several books and articles that tell you what you should or should not do in order to be successful in this industry, but it’s not always easy to follow what we see, hear …

Jul 2016

10 Great Cost Cutting Ideas Your Small Business Needs

Scissors cutting the word costs concept for recession or credit crisis

With a struggling economy, small business owners are looking for ways to increase profits, improve efficiency, and save money. The good news is there are many helpful ideas that you can find in business books and articles. Instead of covering the obvious ones, we need new and creative ways to save.


Here are some improved ideas for your small business cost cutting strategies:


Go paperless!

If you apply this, you can be sure to lower storage costs as well as printing costs. You will also be able to improve the overall efficiency of your small business by running a paperless office. By scanning documents, you can now send and share information easily and effortlessly and at the same time, you get to save your business time and money.


Lease your equipment.

This can be done to avoid big and upfront costs you have to face when purchasing equipment. You don’t just conserve your company’s cash, but you can also save a substantial amount of money in upgrades, repairs and maintenance since there are several lease agreements that cover these expenses.


Use a 0% credit card balance transfer.

Transferring the debt balance from one card to a 0% one is a great way to save money on interest charges. This also allows you to pay down your debt.


Collect cash in advance.

When you are extending credit to customers, you have to consider collecting a percentage of cash up front with each purchase. By doing so, you will help your company reduce risk, save money, and improve cash flow in collection efforts.


Consider bundled services.

Some companies provide bundled services that include cable, internet, phone service, fax and web hosting. Bundling two or more services from one company can save your business hundreds of dollars every year.


Manage your employees’ spending.

The abuse or misuse of company-issued credit cards can occur among employees at every level. It is important that you set guidelines, activate pre-set limits and alerts, and monitor your monthly spending reports in order to save money and avoid costly mistakes.


Use payroll debit cards.

With a debit card payroll system, your business can definitely reduce its administrative costs. This system eliminates the expenses that go into printing checks, and it also lowers the risk of fraud. According to the Association of Certified Fraud Examiners, this is a major benefit since a high percentage of 60% of all fraud incidents within a business involve the employees.


Whether you are an existing business or a start-up, it is essential in this industry to do whatever is possible to look for new and legal ways to save money. Take action as soon as possible!


Jun 2016

Time Management: Why It’s Important

Analog Clock with the words "TIME TO FOCUS". Isolated

Have you ever heard the saying, “Time and tide wait for none”? It is important that we understand the value of time for us to succeed in all aspects of life. People who waste time are also the ones who fail to create an identity of their own. In business, it is especially important to …

Jun 2016

How to Attract More People to Your Small Business

Businessman hand putting check mark with marker on customer service evaluation form on clear glass whiteboard isolated

With the many businesses here and there, the deal now is that no one wants to be sold to anymore. It is important that you give consistently to eventually get business, especially if you are offering professional services. Here are some tips on how you can attract more customers:   Consumers look at your service. …

May 2016

Things that Harm Your Small Business Budget

empty money bank

Having a small business is not the tricky part, it’s preparing a budget – especially when you are not used to making budgets. Some small businesses fail within their first five years in operation due to lack of attention to revenue (sales) and expenses (fixed and variable costs). These factors can lead to low margins, …

Apr 2016

Small Business Owners: Being a Better Boss

Bike shop owner holding open sign

Some people are born leaders but then again, being a boss is not really as easy as 1, 2, 3 – especially when you are running your own business. When you are managing your own business, this means you have to get work done while leading your team and at times, these two responsibilities can …