Hi Jonathan and welcome to our community. We have many experts here who are always happy to share ideas and offer suggestions. I would be surprised if you don't get some responses to your question very soon.
Feel free to join in our discussions and share any of your ideas, as you feel lead.
Can somebody from the community (a moderator) explain or tell me what happened to my last post.
Yes I have been around for a long time and know the guide lines.
Her is a new person looking for tips.
I personally think that both a business plan and SCORE are two GREAT tips.
Waiting for your reply, again LUCKIEST
Managing your responsibilities is a very broad question. Some things off the top of my head:
1) Account properly - meaning make sure that you keep great records on what you spend and what you earn in your business.
2) Measure everything you do. If you run a marketing campaign, make sure that you can measure those results in some way. Thus, you will know if that campaign is working or not. If not, tweak it or try something new. If so, look for ways to boost it or duplicate it.The idea here is to only spend your hard earned money on those things that bring in more revenue to your company then they cost.
3) Your revenue - those completed sales - have to cover both your direct costs - those costs that are directly related to earning that revenue (like your gas on a stake out) as well as your overheads - all those other business expenses that you would have regardless if your business earned even one dime in revenue.
4) Lastly, there is a trade off between time and money. If you don't have the money to do something in your business that needs to be done - then you have to substitute your time and do it yourself. This also relates to business financing (business loans which is our business). Not all businesses will qualify for business financing in the beginning. But, if you manage your finances, learn ways to generate revenue and do this for a decent period of time - then those financing options will open up to you. Until then - find a way to self-fund or bootstrap your company until those opportunities present themselves.
Phanio, you offer very good advice. Thank you for sharing your thoughts with the community.
Jonathan, my advice to you is get yourself a great accountant to start you business en devour. Many people are under the impression that an accountant is only used for income tax purposes (many of them are but I am not referring to an H&R Block type). A good accountant can help to guide you in every business aspect. Pick one that will grow with your business needs.
Good luck and let us know how it's going.
Starting new business can be exciting, but you need to be very careful about your finances. A thorough business plan will address all these issues and allow you to realistically determine the risks and potential rewards of starting a new business. It will also force you to examine how much capital will be required. Most new business failures are due to under-capitalization.
Hi Jonathon. Welcome to the community. You are at the right place. Here, you can get the valuable advice regarding running and maintaining the small businesses, and beneficial financial tips for your business as well.
Hello Jonathan - welcome to the community.
The most important thing that you should consider in order to grow your business is to establish a good connect with your customers.
Time is the essence here and sooner you take your services to the customers, the better it is for your business.
Be unique in your approach and stand apart from your competitors.
Know your competitors and appreciate their business..
Focus on your positives and ensure that the customer is delighted by your service.
Never do a negative marketing on your competitors...
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