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.
This is the single most important thing you can do to increase your sales TODAY:
Ask yourself: Why are my prospects and clients saying NO?
Have you heard about payday loans? Chances are good you’ve heard nothing good about them. They trap customers in an endless debt cycle. You wouldn’t dare, right?
The simple act of getting paid can take up a big chunk of small business owner’s time while pushing stress levels to new highs. Aside from exploring funding options to help with cash flow problems, businesses can put safeguards in place to stop wasting time on chasing down payments. With the time they regain, they’ll be able to do more business development.
At NCAA football’s Alamo Bowl, Oregon was heading for a blow out as it led the game 31 to 0 at the half. Their opponent, nationally-ranked TCU, was a capable team. The team was most likely shaken up by the loss of their starting quarterback and key wide receiver.
One of the fastest ways to start or grow your business is to buy a company. The right one can expand your offerings and broaden your customer base. There’s one downside. Buying a business takes resilience considering all the legal, taxes, paperwork, and licensing requirements involved. However, that’s nothing compared to trying to start a new business from scratch.
While completing projects for a client, I often work with another small business or two. Unfortunately, one surprising thing keeps happening.
Over and over.