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Articles and information on topics and issues affecting self-employed small business owners

Systems for Self-Employed Business Owners

Self-employed small business systems
Large businesses use standard operating procedures to run their business. It is just as important for a self-employed person to document their systems as it ensures consistency, improves efficiency and makes it easy to grow your business if and when the time comes.
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Why You Need Standard Operating Procedures in Your Business

Why you need documents standard procedures
Documented Standard Operating Procedures ensure all aspects of a business run effectively and efficiently, as well as ensuring consistency in products and services provided to customers. Here are a list of benefits a business will derive from having systems that are documented.
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Standard Operating Procedures - What, Why, Where and When?

Overview of Standard Operating Procedures
Many small business owners have so much going on that they do not even think about systems. However, Standard Operating Procedures (or SOPs) are key to running a successful business. Here is an overview of what they are, why we need them, where to use them and when to apply them.
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7 Tips to Collect Money from Customers

Tips to collect accounts receivable
As a hardworking self-employed small business owner, you love what you do and can easily find customers and work to keep you busy. But you have problems finding the money to pay your bills. Maybe it is because you are not collecting the money for work you have done! Here are 7 tips on how to collect the money your customers owe you.
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6 Tips to Understand Cash Flow

Tips to understand cash flow
Poor cash management is a major cause of business failure according to a US study. Understanding cash flow is critical. Here are 6 tips to help you understand and manage cash flow to avoid your business becoming a statistic.
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Cash Flow: A Two-Sided Coin

Cash Flow - a 2 sided coin
Cash flow is a flow of money with money flowing in and money flowing out. Your goal is to make sure the money coming in is more than the amount going out on a regular basis. That’s what creates a successful business. Let's look at how to make this happen. To make sure that happens, we can either focus on making more money or spending less. Actually, let me take that back. The most effective strategy is to focus on both… increasing income and cutting expenses.
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The Difference Between Cash Flow and Profit

The difference between cash flow and profit
As a CPA working with small business clients, Wayne Burgan discovered that many self-employed business owners get confused by the differences between profit and cash flow. He uses his first business experience to illustrate the difference between these concepts.
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Cash Flow: Why Is It So Important?

The importance of cash flow in your buiness
'Cash Flow' is the money that flows in and out of a business, and for a business to survive, the cash coming in must exceed the cash going out. This article looks at tracking your cash flow, your goals and survival tips for when you have more expenses than money coming in.
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How to Use Your Ideal Customer Profile to Smash Your Business Out of the Park

Smash your business out of the park
Having a “killer’ ICP will help you make positive business decisions now and for the future. It is critical for understanding the best way to communicate with your audience, create your marketing message and will be the focus of all your marketing efforts.
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Your Ideal Customer Profile: 6 Common Mistakes Business Owners Make

Common ICP mistakes
When developing your marketing strategy, the first step is to create a prolfile or picture of your ideal customer. Your Ideal Customer Profile is key to your marketing strategy, and it is essential to get it right. Here are 6 mistakes small business owners commonly make in this process.
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How to Craft a Killer Ideal Customer Profile

Craft a Killer ICP
Every business has customers, clients or patients, and identifying your ideal customer is key to creating your products, services and marketing. In this article we look at how to craft a 'killer' Ideal Customer Profile'.
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Your ‘Ideal Customer Profile’ – What Is It and Why Does Your Business Need One?

Ideal Customer Profile
You cannot get 'everyone' to buy from you, so it is vital that you identify your target market to maximize your advertising results. However, many business owners ignore this and waste their advertising budget. Let’s take a close look at what an Ideal Customer Profile is and how it can help your business.
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Is Your Business Costing You Your Family?

Is your life in balance?
Becoming addicted to business is a common problem for small business owners. It happens for a variety of reasons and is a frequent cause of family tension and even breakup. In this article, from personal experience, Bud explores the reasons and potential fixes.
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7 Proven Time Saving Tips For Small Business Leaders

small business time saving tips
The old saying is “A Stitch in Time Saves 9” is especially important to self-employed small business owners who never seem to have the time needed to get things done. So time management is a critical issue. In this article we look at 7 time saving techniques that have proven to be effective in managing your time. Here are 7 Time Saving Techniques that will help.
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5 Crucial Mistakes Made by Bad Leaders

Good leaders inspire others. Bad leaders can have the opposite effect as people will not easily put their faith and trust in a bad leader. We all want to be good leaders and with practice, many of us can be. So in this article, we look at 5 crucial mistakes that bad leaders make that can make them ineffective and put the business at risk. However, it takes time and effort as leaders are made, they are not born. However, it takes time and effort as leaders are made, they are not born.
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How to Be an Effective Small Business Leader

small business leadership
When you run your own business you are a leader whether you like it or not, and it does not matter whether or not you have people working for you, when you startup your own business you must be a leader. These 10 characteristics are key to being an effective leader.
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Marketing to Millenials

Millenials make up a huge target market and their buying behavior differs from previous generations. To be successful at marketing to millenials we need to understand them. Here are 7 Gen-Y behavior traits to help you with your marketing.
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The 7 Top Issues That Keep Self-Employed Small Business Owners’ Awake at Night

What keeps self-employed small business owners awake at night? We did some research and here is what we discovered what seem to be to find the top 7 concerns. We explore each of these issues in more detail and offer some suggestions if you are experiencing any of these issues.
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Don’t Put All Your Eggs in One Basket

Don't put all your eggs in one basket
A frequent cause of small business failure is having too few customers. Not from the point of too few customers to make sufficient sales, but having one or two customers who you totally rely upon for your business income. These case studies show what can happen and are a warning to all.
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Too Big for Your Britches

Too big for your britches
Being "too big for your britches" is one of the main reasons that small businesses fail. A small business owner by the name of George had always wanted to be an entrepreneur, even from his school days. George has turned a down and out gas station into a thriving business and gives his thoughts on what it takes to be successful.
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Peter Proud vs Harry Humble

Pride comes before a fall in business
The majority of entrepreneurs are often described with words such as ‘brave’, ‘strong’ and ‘courageous’, just to name a few. So, if that is a regular characteristic, then why do so many small businesses fail. Well, many entrepreneurs can also be described as ‘stubborn’, ‘pig headed’, and ‘prideful’ and this can lead to their downfall.
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Andrew's New Business

Andrew' new business lessons
There is more to starting a business than knowing how to do the work. A good place to start is knowing why so many small businesses fail and what you need to know to be successful in your chosen business. Andrew had considerable experience in doing the work but needed to learn about running a business.
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11 Crucial Factors for Small Business Success

business success factors
Success or failure of a small business depends on a variety of factors. Some businesses have fantastic products and services yet do not succeed. In this post, we address 11 essential factors for local business owner that are vital for business success.
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Golden Steps to a Successful Franchise

keys to a successful franchise
Franchising has become a popular way to get into business, but you must do your homework. There are many different types of franchises - large ones like McDonalds and small ones like carpet cleaning. The truth is that they all require due diligence before you commit your time and money. Here are some golden steps to ensure you have all the bases covered
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7 Life Saving Solutions to Help Avoid "Working From Home Depression"

work from home depression
Humans are social animals and being isolated is not good for us. For example, they use isolation as punishment in prisons! Even before COVID, there was a rise in home based businesses which leads to more 'working from home depression'. Here are 9 tips on how avoid it. The fact is that as much as you love your business, it can be terribly problematic for you if you allow depression to set in.
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9 Tips to Stay Positive and Save Your Business Through This Pandemic

Staying positive
Businesses and especially small businesses are closing every day during this pandemic. So it is important to stay positive. But how do you do that when you are faced with such a constant barrage of negativity? Here are some tips to help.
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Covid-19 Small Business: How to Survive and Thrive

Covid business survival
The road to survive and thrive for small business after this pandemic is full of curves & potholes. A major shift is needed to focus on the Customer. Learn how to avoid disaster & give yourself a chance to come out the other side thriving.
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Business in the Post Quarantine Era: 5 Tips to Help Put Customers at Ease

Put customers at ease
People's buying habits have changed through this pandemic! Self-employed small business owners have to be ahead of the game and adapt, or we will just become a statistic. Here are 5 great tips to help put customers at ease in the post-quarantine era.
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Small Business Lessons from a Country Singer

Randy Travis business lessons
It is a wonderful experience to meet one of your music heros live and in person. Read about my meeting Randy Travis and the lessons for small business when it comes to handling rebranding, facing challenges and overcoming them.
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$825 Billion in Unpaid Invoices? WOW!

unpaid invoices
The simple truth is that many self employed small businesses fail miserably in collecting money from their customers. Avoid these 5 costly mistakes to get paid quickly and side-step deadly cash flow problems in your business.
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