Chances are you started your business because you have a passion for a particular product or service…not because you love managing the financial aspect of a business. Yet every business owner must learn how to manage their small business finances if they want to grow and thrive. Today I’m sharing three tips that will help […]
How to Prepare Your Small Business for a Recession
Right now, talk about a recession is growing. A CNBC survey of CFOs found that 68 percent believe a recession will happen during the first half of 2023. Meanwhile, consumers getting squeezed at the grocery store and gas pump say the recession is already here. Talk like this tends to bring about fear in small […]
Handling Cash Flow and Your Bank Relationship
Poor cash flow management can put you out of business. This article will discuss various strategies for handling cash flow, including securing bank loans and lines of credit, to start and grow your small business. Keeping Track of Finances Want to know the key to handling cash flow? Staying on top of your monthly statements. […]
November 2021 #Smallbizchat: The Ultimate Marketing Engine and Finding Money for Your Small Business
#Smallbizchat Podcast LIVE is a monthly video interview show where small business owners can get answers to their questions. The focus of #Smallbizchat is to end small business failure by helping participants succeed as your own boss. Please join us live every third Wednesday of the month from 8-9 pm ET Live on my SmallBizLady Facebook […]
9 Tips on How to Manage Your Finances as a Small Business Owner
Being laser-focused on your finances is an essential part of being an entrepreneur. It goes beyond simply having separate business and personal checking accounts. You’ll need to pare down your personal expenses as much as you can in the beginning stages of your small business, so you ensure you’re making enough money to keep your […]
BIG ANNOUNCEMENT: EIDL LOANS ARE BACK OPEN
The U.S. Small Business Administration (SBA) has reopened the online portal for businesses to request an Economic Injury Disaster Loan (EIDL) increase for up to $2 million. They are taking new applications too. The process is confusing, but that’s why I’m breaking it down. Shout out to my finance colleague Ami Kassar for keeping me […]
Mastering Your Money Mindset
It’s no secret that success in business is strongly dependent on your relationships, including with partners, vendors, industry contacts, employees, and customers. But the relationship most entrepreneurs overlook is the one that’s most likely to hold you back from financial success: your relationship with money. Money is simply a currency that customers exchange for your […]
8 Top Bookkeeping Mistakes Made by Small Businesses
Bookkeeping can be defined as the action of maintaining the financial records of a business. This seemingly simple work is very complicated and highly prone to errors. Small businesses experience challenging situations now and again due to the volume of their business. Apart from the lack of liquidity and tough competition, poor bookkeeping is another […]
8 Sales Tools to Help Boost Your Small Business Sales
As you run your business, you should constantly be looking for ways to improve your sales team’s productivity and efficiency. The goal is to increase your sales, but staying organized will improve your company as a whole. Let’s look at eight sales tools that I recommend to small business owners. When used effectively and properly, […]
Four Ways to Measure Profitability to Grow Your Small Business
The goal of any small business is to be profitable. But for the average business owner who isn’t well versed in determining the financial health of their business, how can they measure their profitability? While there are many different reports you can run, it can be difficult to know what numbers you should track. We’ll […]
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