Category

Small Business Operations

How The Latest Trends in Payment Methods Can Impact your Bottom Line

How The Latest Trends in Payment Methods Can Impact your Bottom Line

By | Small Business Operations

If you’re a small business owner who doesn’t pay attention to trends in payment methods, now is the time to start. With technology making new payment methods available to small businesses all the time, customers have come to have certain expectations. Your small business may lose customers to the competition if you cannot provide at least the same options. Preferably, you want to offer customers even more payment choices than…

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Meet Important Tax Deadlines to Avoid Unnecessary Fees and Penalties

Meet Important Tax Deadlines to Avoid Unnecessary Fees and Penalties

By | Business Planning, Small Business Operations

Paying your taxes once a year by April 15 is fine, when you work for someone else. However, this date is just one of many tax deadlines you must meet when you own a business. The types of taxes that the Internal Revenue Service (IRS) and your state government expects you to pay depends on the way you have structured your business. One example is whether you have official employees…

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Avoid These Red Flags That Can Trigger an IRS Audit

Avoid These Red Flags That Can Trigger an IRS Audit

By | Business Planning, Entrepreneurship, Small Business Operations

As a small business owner, you have enough on your plate already without worrying about how to defend yourself should the Internal Revenue Service (IRS) decide to audit your return. When the IRS audits someone, whether an individual taxpayer or a business owner, that person bears the burden of proof for whatever the IRS is questioning. The best way to avoid this situation entirely is not to take any actions…

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Adopt These 10 Steps to Successfully Manage Business Finances

Adopt These 10 Steps to Successfully Manage Business Finances

By | Entrepreneurship, Small Business Operations

Starting a new business is exciting, especially if it’s something you feel passionate about and have dreamed about for years. While managing your business finances is less exciting, it’s something you must do nonetheless. Below are 10 tips to help manage your business finances well from the start. Maintain separate banking, credit, and loan accounts for personal and business use. You will need to do this immediately if you plan…

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4 Strategies to Help Increase Your 2019 Business Profits

4 Strategies to Help Increase Your 2019 Business Profits

By | Business Planning, Entrepreneurship, Small Business Growth, Small Business Operations

The end of a calendar year is a common time for business owners to reflect on how they can be more profitable in the new year. You might even feel discouraged because you don’t know how you can possibly take on more business and still have time for a life outside of work. If so, you will be happy to know that increasing profits doesn’t always mean taking on more…

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Next Generation of Small Business Owners Increasingly More Diverse

Next Generation of Small Business Owners Increasingly More Diverse

By | Entrepreneurship, Small Business Growth, Small Business Operations

As we head towards the third decade of this millennium, small business owners are increasingly reflecting the diversity found in the larger society. The most dramatic change exists between business owners of the current generation and those in the process of starting a business of their own. While white males still make up the majority of small business owners, there is a greater representation of women, African Americans, Hispanics, Asians,…

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7 Marketing Strategies to Help Your Business Grow

7 Marketing Strategies to Help Your Business Grow

By | Business Planning, Entrepreneurship, Small Business Growth, Small Business Operations, Small Business Sales

As a business owner, you put so much thought and energy into mapping out the path for your business to grow. One step you can take to increase your return on investment is to develop a solid marketing strategy. A good marketing strategy will increase your brand recognition, and will take into account all marketing channels which will help to grow your business. By developing a really good marketing strategy,…

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5 Ways to Tackle Waste and Inefficiency Lurking In Your Business

5 Ways to Tackle Waste and Inefficiency Lurking In Your Business

By | Small Business Operations

No business owner likes to think that inefficiencies exist in his or her business, but the truth is companies of all sizes could benefit from becoming more efficient. Rather than feel discouraged by this, consider it a challenge to always be looking for ways to improve processes, people, and equipment. No matter how well you feel your company is performing today, there’s always room for improvement. Below are five things…

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Do You Have Business Insurance to Protect Your Small Business?

Do You Have Business Insurance to Protect Your Small Business?

By | Small Business Operations

When you’re starting up your small business, it probably seems like business insurance is the last thing you want to spend money on, given the fact that there are so many other costs associated with establishing your business. However, there are some very real threats which could derail your fledgling business if you don’t have some kind of insurance coverage. For instance, you could fall victim to a natural disaster,…

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Understanding Innovation and How It Benefits Your Business

Understanding Innovation and How It Benefits Your Business

By | Entrepreneurship, Small Business Growth, Small Business Operations

According to BusinessDictionary.com, the primary definition of innovation is risk-taking. Companies that possess innovative traits continually look for new and more efficient ways of creating their products and services as well as improve customer service. No matter how long you have owned a business, you know that markets, products, services, pricing, and customer expectations change frequently. To embrace innovation means that you’re always open to new ways of doing things….

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