5 Ways to Save Money for your Business

Looking for simple ways to cut costs? These tips will help you make a noticeable difference to your bottom line. 1. Reduce staff costs Without a doubt, having someone to help deal with routine tasks can greatly improve productivity. The rub is that hired help is often too expensive for small business owners. Internships can be a real win-win: a student gets hands-on experience assisting you with marketing, accounting or…  Read more

4 Tips for Getting Your Business Through Tough Times

If you’re a small business owner whose company hasn’t gone through hard times, that’s great but it’s likely to happen at some point. As much as we dream about being brilliant enough at business that we’ll never face slow times, there are many things beyond our control that can negatively affect our business. Here are four tips for getting your business through difficult periods so you can look forward to…  Read more

How to learn from failure in business

Ask any successful entrepreneur about their path to greatness and you’ll get the same answer: failure is an inevitable part of the journey. It took Thomas Edison 1,000 failed attempts before he finally invented the light bulb. Tim Ferris received 25 rejections before his bestselling book, “The 4 Hour Workweek” was finally published and sold millions of copies. It’s a fact that 20% of businesses fail in their first year…  Read more

Ways to keep customer data secure

Cyber crime is a serious concern for business owners. Recently IBM Chair, CEO, and President, Ginni Rometty, called it “the greatest threat to every company in the world”. According to Juniper Research, by 2019 cyber crime will cost businesses a staggering $2 trillion. It’s impossible to put a dollar value on what your customer data is worth – or the cost to your business should sensitive data be compromised by…  Read more

Use your Accounting Software to Boost Sales

If you think accounting software is just for tracking expenses and generating financial reports, you’re losing out on an opportunity to improve your bottom line. By taking advantage of insights provided by your software solution, you’ll benefit from a more informed approach to marketing and customer service – and by making the most of all the ways your software can improve productivity you can take meaningful action to increase profits.…  Read more

Tips for updating your business plan

Think of your business plan as a roadmap designed to point the way to your current destination, knowing that where you land may not be your ultimate end point. After all, things are constantly changing in a healthy, thriving business. Market fluctuations, new competitors, changes in staffing or your sales figures may nudge you in a direction you wouldn’t have previously dreamed of, requiring new goals and strategies to achieve…  Read more

The three most important financial reports

While many small business owners prefer brainstorming new ideas to pouring over financial reports, getting a handle on financial analysis can be remarkably empowering. Taking the time to regularly review financial statements can help you assess and improve current performance, avoid risk and make scalable plans for future growth. Protect your company’s financial health by learning your way around these three financial reports. Cash flow statement The cash flow statement…  Read more

Tax tips for new business owners

Want to avoid paying more than you should come tax time? Or a frantic last minute search for missing financial records? New business owners have a lot on their plate, and can easily lose track of an approaching tax deadline or financial data needed to submit their return. Organization is key when preparing for tax time. As is taking advantage of the many tools and resources out there to support…  Read more

Investment Basics – Understanding Your Gains And Losses

When you’re reviewing your investments, it’s important to remember that income and returns come from two main sources, Capital Gains and Interim Income. Capital gain (or loss) This is the difference in the overall value of your investment between when you purchased it and now (or the date that you sold it.) You can work it out as: ((Current or sale price per unit – purchase price) * number of…  Read more

The top 10 cities for business start-ups

Whether you are thinking of launching a small, local business or a global enterprise, finding a city that is friendly toward entrepreneurs is important. You want a city that is culturally supportive of business owners, in a region or country that makes things easy for you from a financial perspective. You also want to be in a place where it is easy to attract and retain good talent, and where…  Read more

Improving your business with better time management

When things are hectic, most small business owners wish they could find a way to get more than 24 hours into a day. Often, your ‘to-do’ list can get so long that you feel you never get to put as much attention into every task as you would like. It can also mean more time in the office or dealing with work issues after-hours – cutting into your free time…  Read more

Finding money within your business

Most small businesses experience cash flow problems from time to time and urgently need working capital. Many business owners immediately think of the bank or loans when they’re short of money. But there are other resources you can tap before you ask for that expensive overdraft or overdraft extension. The money you need might already be there—locked up in inventory, assets or your debtors’ book. You can often free up…  Read more

Working out an effective marketing budget

“How much should I spend on marketing?” Most small business people ask me this question at some stage. Many small business people find working out how much to spend on marketing a tricky exercise to calculate. Generally there are five ways to work out a marketing budget for the year. Remember that these are marketing budgets, not advertising budgets. Marketing covers everything you do in your business that creates awareness,…  Read more

5 Tips to Improve the Conversion Rate on Your Site

If you want to increase sales on your e-commerce site, you should not only focus on traffic but also on your conversion rate. The higher your conversion rate, the more money you can make with the same number of visitors. Here are five tactics to help you increase your conversion rate. Test Testing is an important part of improving your conversion rate. Split testing can help you determine what aspects…  Read more

How to get professional business stationery on a tight budget

If you’re like most budget-conscious companies, any opportunity to grow your business while saving a few dollars is a win. These tips will help you create professional business stationery that builds trust in your brand, promotes your company, and helps market your services without breaking the bank. Explore cost saving DIY options As you consider your business stationery options, if you’ve already got your brand’s visual identity down, you’re halfway…  Read more

Tips for writing effective performance reviews

Without knowing your break-even point, you can’t make informed business decisions. The performance review has become a rite of passage in the business world, yet many managers and employees fail to make the most of the opportunities these important discussions can provide. When used properly, the annual review process can provide managers with real insight into everything from employee perception of the company to ways to make the firm better…  Read more

How to turn your hobby into a business

Thinking about turning your passion into a paying gig? These steps will help you avoid some common mistakes as you set out to earn an income from your favorite pastime. Do you have what it takes? Unless you’ve run a business before, it’s easy to get carried away with the idea of how perfect it will be to get paid for doing what you love. Reality check: the stress of…  Read more

So you’ve launched your business – now what?

Good news for small business owners: according to the US Small Business Administration, nearly 80% of small businesses survive their first year. However, that number begins to drop as time rolls on. Only half of small businesses pass the five year mark, and a mere third celebrate their tenth anniversary. Taking steps to create a good foundation in the early days of your business is essential for a sustainable and…  Read more

How to write for an online audience

Most business owners appreciate that online marketing is increasingly important for sales and growth, but drafting effective web copy can be an intimidating prospect. The good news is you don’t need a background in marketing to master the basics of effective web writing. You just need to know a few guidelines that can make your copy more engaging to an online audience. Here’s how. 1.Think like your customer Knowing your…  Read more

8 Ways to Manage People Better

Good people management comes through experience. Courses will teach you the theories, but there is no substitute for day-to-day practice managing staff and their issues. Giving yourself a head start with a common-sense approach and a healthy respect for everyone you come into contact with can help to develop a happy and productive workforce. Don’t micro-manage. Your employees were hired because they could do the job, so let them do…  Read more

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