There are a lot of false statistics floating around the web about the dismal survival rates of small businesses. In this article, we get to the bottom of these stats and uncover the truth about small business failure rates. Various Small Business Failure Rates Online Here are some business failure rates that can be found… The post Small Business Failure Rates: Why All The Stats Are Wrong appeared first on . from http://fitsmallbusiness.com/small-business-failure-rates/
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Using a free gift certificate template is a great way to boost sales. In this article, we provide you with 5 templates and 5 alternative ways to boost your sales via existing customers. Your Free Gift Certificate Template First select the free gift certificate templates that you want to use: Download Blue Free Gift Certificate… The post Free Gift Certificate Template & 5 Other Powerful Ways to Boost Sales appeared first on . from http://fitsmallbusiness.com/free-gift-certificate-template/ Project management software helps you to organize your business’ resources, assign and monitor tasks, centralize assets, and consolidate communications. We looked at the most popular free project management software options that covered the range of options for small businesses in terms of ease of use and available features. Best Free Project Management Software Summary Table… The post Best Free Project Management Software 2017: Trello vs Asana and the Rest appeared first on . from http://fitsmallbusiness.com/best-free-project-management-software/ Successful entrepreneurs such as Tesla founder Elon Musk are glorified as bold risk-takers. People sing Musk’s praises for his gamble in investing his $180 million Paypal proceeds to three separate companies. For Musk, however, the multi-million dollar deals were not gambles. He knew the facts were on his side. As a result, his three companies… The post Small Business Data Sources: Best Places To Find Free Data Sets in 2017 appeared first on . from http://fitsmallbusiness.com/small-business-data-sources/ Small businesses may be the bloodline of the country’s economy but they don’t have it easy. They face multiple challenges on many fronts including cash flow, funding, and accounting. Is it easy for entrepreneurs to get funding? Are small business owners prepared for taxation? Do they have enough capital to keep the business operational? We’ve… The post Small Business Finance Statistics – 15 Stats You Should Know appeared first on . from http://fitsmallbusiness.com/small-business-finance-statistics/ Writing good business proposals is key to expanding your business with quality relationships. However, writing a business proposal can be tricky. You need to promote your business, yet keep the details honest and straightforward. In this guide, we explain how to write a business proposal with 5 easy steps. We’ll also show you how to… The post How To Write A Business Proposal In 5 Easy Steps appeared first on . from http://fitsmallbusiness.com/how-to-write-a-business-proposal/ If you snuck into my home office and opened my desk drawer, among the half working pens and thumb drives, you’d find at least two dozen real estate business cards. Most are from agents I’ve done deals with in the past, and if you looked hard enough, you’d (probably) find at least a handful of… The post 27 Real Estate Business Cards We Love appeared first on . from http://fitsmallbusiness.com/real-estate-business-cards/ America has a love-hate relationship with sales. We are quick to shut the door on individuals peddling their wares, yet it is the same enterprising spirit that sustains the country. Love it or hate it, sales is what makes America great. You can help keep that spirit alive starting with these 15 sales statistics that… The post 15 Sales Statistics That You Should Know appeared first on . from http://fitsmallbusiness.com/sales-statistics/ I felt like a kid in the world’s biggest candy store when I walked into the 2017 IRCE ecommerce conference in Chicago this summer. In fact, I no doubt resembled Dr. Suess’ Thing 1, bouncing from booth to booth, trying to take in all that 600-plus ecommerce vendors had on display. When I finally paused… The post 5 Reasons You Should Attend the Internet Retailer Conference & Exhibition (IRCE) appeared first on . from http://fitsmallbusiness.com/reasons-to-attend-irce/ Guest Article While there are many advantages to running a seasonal business, one of the primary challenges is managing cash flow – having enough money on hand to get ready for the busy season, making the most of the revenue generated in season, and having enough money on hand to survive in the off season. With these tips, small business owners with seasonal businesses can better manage cash flow to optimize opportunities before and during the busy season while also learning ways to save for and get through down time. 1. Plan your expenses properly as you gear up for the busy season and ensure that you never fall behind on bills in the off-season
2. Have a full understanding of your business’s working-capital needs to cover seasonal inventory , payroll, cash, and accounts payable monthly)
3. Prepare for off-season cash-flow crunches by securing a loan or line of credit in advance: Several months before you may need it, meet with your banker about obtaining a business loan or line of credit. For some businesses, too, it may be advantageous to negotiate for interest-only payments during the slow times and full monthly payments (interest and principal) during the busy time. If you do take out a line of credit, make sure to understand its “cleanup clause contractual provision” –that’s bank-speak for how long you’ll need to bring your balance down to zero. Usually, it’s for a period of 30 to 60 days. Be prepared! 4. Budget and forecast properly: Budgeting is critical for seasonal-business success. Effective cash-flow forecasting will keep you on top of your cash availability throughout the year. If you need help creating and using cash-flow forecasts, this template from SCORE can help. 5. Staff appropriately: Staffing appropriately during and between high seasons is essential, as insufficient staffing during your busy season can mean lost sales and overstaffing during your low season can mean extra expenses that you don’t need and can’t afford.
For seasonal business owners, off-season is the time to review every aspect of your business and prepare for your busy season. Once you are in your busy season, it’s essential to stay on top of your daily financials to leverage opportunities to generate revenue and strengthen your position when things slow down. About The Author Steven Cohen is president of Excelsior Growth Fund (EGF), which helps New York State small businesses grow by providing streamlined access to business loans and advisory services. Steven has a bachelor’s degree from UC Berkeley and a master’s in public administration from Harvard’s Kennedy School The post How Can Seasonal Businesses Better Manage Cash Flow? appeared first on Succeed As Your Own Boss. from http://succeedasyourownboss.com/can-seasonal-businesses-better-manage-cash-flow/ |
AuthorHello I am Teri Crawford 26 years old living in Toronto, Canada. I have recently finished my MBA and planning to start my own business. Archives
November 2018
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