money
Bartering is a tried and true (and ancient) business practice. It is still commonly used in many countries in every day business interactions. For whatever reason, it is not as common in the U.S. but this doesn’t mean it should be forgotten altogether!
If your small business is still afloat but you find yourself short on cash, give bartering and honest look. There are many barter exchanges which you can join and here’s how it works:
Step 1: Research the barter exchanges. Like I said there are a lot out there so do some research and pick the one you... Read more
Tags: Accounting, barter, bartering, Business, cash flow, finanance, Finance and Accounting, money, Rebecca Button, small business
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If you’ve been reading the financial news magazines and newspapers in recent weeks, you may be a little worried about where things are heading. With financial giants toppling, and the word recession becoming more prominent, what does that mean for your small business?
If you are like many companies, you’re already looking for ways to trim off a little fat. That could come in the form of not ordering as much inventory, looking for employees to lay off or any other cost-cutting measures.
As a matter of fact, many small business owners are already in a panic, with doomsday visions... Read more
Tags: Accounting, economic downturn, Finance, Finance and Accounting, Leeia Ladipoh, money, money management, recession
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Published March 31st, 2008
Building a budget for your business will take time to put together. However, it can be easy to move away from following the budget. Below are some ways to help you stick with the budget you spent time developing.
First, if you have never done it before living within a budget can be difficult as well as educational. For instance, knowing how to reasonably trim your expenses, or how much of a cash reserve to keep on hand will take time to develop the skills. Learning along the way, adjusting when appropriate will become easier as you practice.
Next, you... Read more
Tags: Accounting, budget, building a budget, Finance, Finance and Accounting, financial planning, larry Slusser, money, tips
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Published March 5th, 2008
If you are trying to find a little extra capital to continue to grow your small business, it may not be as easy of a task as you had hoped. Because of the housing market crunch, a lot of the money that banks would usually use to finance loans is stuck in the rising number of foreclosures. This means many banking lenders are not as willing to write loans, until they can reclaim some of the cash they are missing.
What is your small company to do when you feel a growth spurt coming on and are having a tough... Read more
Tags: advice, business loans online, Finance, Finance and Accounting, Leeia Ladipoh, loans, money, startup loans, tips
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Published February 19th, 2008
Businesses do not usually fail due to a lack of a business plan or incompetent management. It is usually due to a lack of capital. Of course you can start a business with little cash; however, there are some challenges you will be facing. Below are some of those challenges and suggestions on how to be successful without a lot of capital.
First, choose carefully a business where you do not have to invest a lot of capital to get it started. Obviously a franchised business will be out of the question. Be realistic about the type of business you... Read more
Tags: Accounting, bootstrapping, Finance, Finance and Accounting, larry Slusser, money, raising capital, small business loans, Starting a Business
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Published February 4th, 2008
Cut your operating costs. Run your business lean. Bootstrap-spend your way to success. All of these mantras involve minimizing spending and if you follow them all, you won’t make any money. There are times in the life of your business where you are going to have to spend money to make money.
Also, there are some aspects of your business that you just can’t afford to cut out; the cost to your business is too high. The key to success in business is having the wisdom to know when and what to invest in and when and where you can... Read more
Tags: advice, cost cutitng, cutting costs, larry Slusser, money, saving money, tips
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Published January 30th, 2008
One of the quandaries in running a small business is keeping your accounts up to date. Depending on what size your business actually is, you may be fine with a simple spreadsheet on Excel, or a similar chart. However, larger medium-sized businesses may need something a little more intricate. Therefore, it may be a good idea to take stock of your business accounting needs, and see if it’s time for an upgrade.
Pen vs. Software
Prior to computers, all invoicing and accounting was completed via ledger books, and although it may seem surprising to learn, some companies still work this... Read more
Tags: Accounting, accounting software, budget, computer applications, danny brown, Finance and Accounting, money, software
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Published January 7th, 2008
Even if your business has had a successful year in 2007, with sales and orders through the roof and happy customers all round, now is the time to start planning for the year ahead. After all, if you look at the most successful business, they always start planning for the financial year ahead long before the current one has even finished.
Not only will this allow you to go over the previous year and see where you can improve, it will let you plan ahead, for seasonal blips or similar. By setting your financial plan into motion now, you’ll be... Read more
Tags: Accounting, advice, danny brown, Finance, Finance and Accounting, money, planning, strategy
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Published January 4th, 2008
In the start up years of a small business, the owner is generally concerned with some of the more urgent issues, such as whether he or she can make payroll next week, whether that new customer is going to place an order soon, and whether an employee needs to be formally disciplined.
But there’s another critical aspect of your business- you. As owner and manager of your business, your time and investment are valuable and worthy of compensation, even in the start up years.
You wear many hats in your business, but the two main ones are that of manager... Read more
Tags: Accounting, Angie Mohr, Finance, Finance and Accounting, money, Numbers101 for Small Business, return on investment, ROI
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Published January 2nd, 2008
Making sure you have the funds you need to start or grow your business is one of the most important things you can do as a small-business owner. Unfortunately, many loan seekers don’t do the preparatory work necessary for getting a "yes" on the loan application.
Step 1: Write your business plan. Whether you’re seeking commercial financing or a loan from an angel investor, you must be clear about how much you want, what you want the money for and how you plan to repay the loan. The answers to these questions should be spelled out in detail in your... Read more
Tags: Barbara Weltman, BarbaraWeltman.com, Finance, Finance and Accounting, loans, money, sba.gov, startup capital
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