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