Successful Strategies

Need Business Support? Build an Advisory Board

Capital Solutions Bancorp — Thu, 19 Nov 2009 11:52:30 -0500

I've heard from one-person businesses that they have advisory boards with people from different backgrounds. One might have financial smarts, another has experience in the industry and another is a pro with operations. These consist of volunteers who genuinely care about you and your business.

Keep Your Online Reputation Clean

Capital Solutions Bancorp — Fri, 30 Oct 2009 11:31:02 -0400

What does online reputation have to do with cash flow? If it's poorly managed, then you could lose loan and client opportunities leading to reduced cash flow. You don't have to become a regular participant in social networks or anything -- although it can help bring in new clients. Nonetheless, the key is to monitor your reputation.

Why Bother with a Business Plan?

Capital Solutions Bancorp — Sat, 17 Oct 2009 11:11:55 -0400

Whether you've just started your business or have been doing it for a while, you have it in your head what you want to do with your business and your business goals. Of course, you want to grow your business. If you don't have a business plan, it's time to make one. They don't have to be pages long—in fact; one-page business plans work very well.

Banks Pick up Credit Card Distribution

Capital Solutions Bancorp — Fri, 16 Oct 2009 11:55:51 -0400

The Wall Street Journal reports that banks have mailed more credit cards to small businesses than in previous months. These include Chase, Barclays, Citibank and Bank of America. Could this mean banks are starting to relax their credit requirements?

One sign that could support the improved conditions is that the Small Business Administration (SBA) has seen its 7(a) and 504 loans go up by more than 60% since March. However, lending hasn't caught up to past rates, these actions indicate good signs.

Rent a CFO or CPA Firm

Capital Solutions Bancorp — Fri, 02 Oct 2009 15:29:31 -0400

You may be making payroll and paying all your bills on time, but can you see the big picture in your business? Maybe you're missing out on opportunities to grow and increase cash flow. Instead of hiring a full-time CFO or CPA firm, consider the renting route. You pay far less than you would for a full-timer and don't have to worry about benefits.

Convert Web Site Visitors into Clients

Capital Solutions Bancorp — Thu, 24 Sep 2009 12:00:00 -0400

Getting people to come to your web site is hard. But once they're there, is your web site making the most of their stop? Not all small businesses can afford to hire search engine optimization experts or analysts to study your site's data.

Team up with other Businesses

Capital Solutions Bancorp — Tue, 22 Sep 2009 12:49:11 -0400

Need to hold on to more working capital? Consider teaming up with a compatible business to save on costs. We've talked about bartering services where two businesses can get the services they need by helping each other out. Teaming up, however, means combining your resources.

Go Pro Bono to Build up Clients and Experience

Capital Solutions Bancorp — Fri, 18 Sep 2009 10:50:16 -0400

The thought of not getting paid for a job sounds daunting. But offering services pro bono could provide you with a wealth of credibility and experience. You may have heard or read stories of unemployed people who offer to work for a company on a trial basis for no salary as an enticement.

Pro bono services also allow employees to stay busy and avoid becoming rusty. Pro bono can be an opportunity to pick up or build upon a new skill. Why shouldn't companies try the same especially if they work to land the right client that would boost their reputation?

Manufacturers Find More Customers with White Papers

Capital Solutions Bancorp — Fri, 04 Sep 2009 17:02:01 -0400

Ask a handful of people what they think is in a white paper and you'll get almost as many different answers. Probably the most misleading thing about white papers is that because they're a marketing tool, companies believe they should promote the business' product or service. Yes, it's a marketing tool. No, it shouldn't be all about the business. The focus should be on the customer with the problem that you can solve.