Five steps to build a cash reserve
The more cash you have in reserve, the longer you can ride out a dip in sales or take advantage of an opportunity that requires cash to set up. It could be buying another business, conducting research…
Cost Optimization
Improving your bottom line isn’t just about increasing your revenue. It’s also about reducing expenses where you can. Lowering direct costs can dramatically increase your profit on each sale while eliminating unnecessary business overhead. Let’s look at what to…
All about insurance
Many business owners are inadequately insured in the case of fire, flood, natural disaster, theft, or personal injury. Often, home-based business owners assume they’re covered under their homeowner’s policy. Other entrepreneurs, working long…
Developing a unique selling proposition (USP)
As a business it’s important to stand out so customers notice you and select you over the immediate competition. One way to do this is by ensuring potential customers understand your USP…
Create customer profiles to target your marketing
Easily the most important first step in establishing any type of business is to define your customers. This gives you the information you need to attract the right audience. One of the most…
Four signs your business is set to expand
Growing your business is one thing, but scaling it is another — it’s about handling increased capacity (ideally driven by customer demand) and increasing profits without relying on expensive, heavy infrastructure. It’s the reason…
Driving online traffic to your website
When increasing traffic to your website, keep in mind that it’s generally better to drive ‘qualified traffic’, or potential customers, rather than just ‘traffic’ which could be anyone. Try focusing…
Budgeting for expansion
If you’re looking to expand your business, you want the best possible chances for success. Among the factors you’ll have to consider is your budget. Budgeting for expansion is a…
A step-by-step plan to help close your business down the right way
As a business owner, you’ll likely face a time in your life when you consider closing your business. Maybe you’ll want to retire and aren’t worried about selling your business.…
