Study after study shows that one group outperforms others in running businesses. What do they have in common?
I’ve had clients who came back after a long hiatus. I’ve had clients who brought me on board when they switched companies. I’ve had clients who sent new business my way.
All three have one thing in common.
The nice thing about business resources and templates is that you can you don’t have to reinvent the wheel or start from scratch. The Internet is loaded with business tools, templates, websites, applications, and resources to help your small business.
In fact, there are too many small business resources out there. How do you weed out the good from the bad? To save you time, we searched and culled some of the better resources.
These valuable questions can do more than help you get more working capital for your business. They help you check to see if your company is on track in meeting its goals. You may be thinking about growing your business by taking on bigger opportunities or adding products or services.
Most companies have suppliers. Yes, you’re their customer. And they should go out of their way to treat you well.
How much time do you put into making your clients happy?
How about for finding new clients?
Which takes more of your time?
A small business can make a profit and yet keep running out of money. Profit does not mean a business has positive cash flow. It’s natural to think a profitable business has cash on hand when profit means financial gain. However, financial reports can show profit without money in the bank.
Without cash, a small business can become insolvent, unable to pay its employees and bills. In “What I’m Still Learning About Managing Cash Flow” from the NY Times, Jay Goltz explains how a company can show profit without having cash on hand.
We’re no longer at the start of the year and tax time will soon pass. After that will be a great time to put on your stethoscope to give your business an all-important physical. This exam requires taking time away from your routine to effectively gauge the progress of your company’s health and identify needed changes.
I received a letter from a company that provides small business loans and financing. This company had been on my radar because of their less than stellar reputation.
Cash flow is tight and small business financing is increasingly hard to come by without paying a high price. To ensure positive cash management, small business owners renegotiate more favorable terms on their contracts with suppliers, bankers, and landlords.
And most of them are willing to do it in exchange for ongoing businesses.