October, 2016

The Importance of Working Capital For Small Businesses

Most small business owners are aware of the difference between revenue and profit. You could be an ecommerce store with a million dollar turnover each month. However, if you take out the cost of procuring these products, holding them and add the cost of marketing your products, you might probably end up with just a few thousand dollars.

This is not inherently a bad thing. As long as you are measuring the performance of your business with profits and not just revenue, you are on the right track. The trouble however is that most businesses, including large corporates, fail to understand the importance of working capital. Many times, businesses fail, not because of losses, but because of their inability to manage working capital.

Questions To Ask Before Starting A Business Or Why I Didn't Open My Restaurant

Starting your own business, as you’ve heard from a million other people, is one of the most rewarding things you can do. Nothing like becoming your own boss and striking out for the American Dream™, right?

Or at least that’s what they tell me. Me, I come from a long family of people with greatideasfor businesses that never quite work out, and I’m on that list myself. A while back I went vegetarian, and after learning how occasionally difficult it could be to find restaurants that can cater to my dietary needs, I briefly considered opening my own!

Small Business Branding Tips and Tricks

It is not easy to explain what a brand is exactly. The most accurate answer to this question would be to say that it is the overall experience that your customers (and potential customers) have of your business. It is the combination of trust, respect and reliability that your business has in the eyes of the general public. This being said, here are few tips and tricks that may help you establish your business as a recognizable brand.

Staying Fit Guide for Desk Jockeys

You understand the importance of staying fit and healthy, but you’re stuck behind a desk for eight hours a day (or, if you’re really lucky, you might be sitting at that desk for 10 or 12 hours a day). You want to eat healthy, but when you’re stuck at work and hunger strikes, your options consist of the vending machines or the nearest fast food restaurant.

Where can you possibly find the time to get a workout in, let alone drive to the gym, change, and shower? Good news: You’re not destined for poor health. These tricks will help you eat healthy and stay fit on a busy schedule, even when you’re stuck behind your desk five days a week.

5 Areas of Your Business You Should Consider Outsourcing

Every area of your business requires attention, but sometimes you just don’t have enough time or human resources to get everything done. When you first entered the business community, you might have thought that you could focus on making products or providing services. Now you know that you must manage many roles, for some of which you are not prepared. Rather than limping along leaving parts of your business unattended, consider getting outside help. Outsourcing often has a bad name, but it can help you get more done without the costs that come with expanding your payroll. Consider outsourcing the following five areas of your business.

5 Mistakes of First-Time CTO’s

So you’ve got yourself a little startup. Finally, it’s time to stretch your IT wings and learn how to put out every conceivable fire (literal and figurative) that can occur in a small business environment. This is an exciting and challenging time for a team of beginning entrepreneurs. While your baby tries to get off the ground, here are some pitfalls to avoid in order to save you from financial and technological ruin in the infant stages of the business.

Forming a Corporation? 5 Things to Do First

If you want to start your own business, a corporation is one of the most viable business entities that you obviously need to consider. A corporation is an independent legal entity owned by shareholders. The U.S. Small Business Administration provides that, though these entities have many long-term benefits, they are more complex than other business structures, as they often have costly administrative fees and many complex legal and tax requirements. The manner in which the government taxes these businesses depends largely on whether they fall under “C” corporations or “S” corporations. Once you choose incorporation as appropriate for your business, it is great to understand the steps you will take to organize it as a corporation.

How To Build A Successful Career In Tutoring Mathematics

Many people face challenges when it comes to understanding mathematics. Due to this reason, they opt to hire tutors to assist them in understanding this subject. Difficulties in solving mathematics problems have made tutors teaching this subject an opportunity to generate income. Building a career in tutoring maths is a good idea. Use the following factors to build a great career.

Guide Through Easy Relocation Of The Business

One of the positive things you can expect when running a business is that, at some point, it will start to expand and it may lead to moving to the space that more suits enlarged business performances. Lot of companies see relocation as risky situation, since particular business operations need to be organized in different way in order to enable company to successfully pass through a transition period. Everything, from office furniture and manufacturing equipment to expendable items and human resources must be promptly relocated from current venue to new business space, and that places a lot of pressure on the company. However, relocation is certainly a positive change, and applying tips like those given bellow, can certainly facilitate and fasten moving process.

4 Tips to Help Employees Increase Customer Satisfaction

With the need to create and market innovative products and services to consumers, some business owners overlook customer satisfaction. While providing great customer service may seem like a basic idea, many businesses fail because they don’t address customer concerns. Customer satisfaction is important because people who are happy with your company are more willing to recommend it to their friends and work with you again. By taking active steps to emphasize customer service to employees, you can give your business a better chance of succeeding and growing.