Government, Politics, and the Economy
Economy Jumps 3.5 Percent to Largest Growth in Two Years Consumer spending, exports and investments experience greatest gains. ManagerSmarter.comManagement and OperationsSmall Shops Make Big Play for Holiday ShoppersMerchants roll out Christmas wares weeks in advance to lure customers away from large discount retailers. WSJ.comManagement and Operations
By Cheryl Sowa · November 03 2009
small business brief, marketing, small business, economy
Tips from September 25, 2009 The Small Business tips today discuss managing your finances by factoring.
Understand factoring. It's the selling of accounts receivable to an investor rather than wait to collect the money from customers.
Acknowledge the fees associated with factoring. This is the cost of the funds, making the collections, & discount rates.
Talk to your bank. They will be a reliable source to help you decide if factoring will be worth your time or a waste of money.
Weigh negatives vs. positives. Biggest Negative: expensive over time. Positive: allow for growth & improve cash flow.
Daily Overview: Factoring is a helps finance your business quickly & avoid messy loans.
By Cheryl Sowa · September 29 2009
small business tips, small business, finances, factoring
Tips from September 22, 2009 The Small Business tips today discuss choosing a bank that is best for your business.
Be prepared. Provide banks with necessary info, such as financial history, biz plan, goals and what you need.
Do your homework. Know what kind of relationship you want with a bank. Stick to what you want and don't be sold.
Ask key questions: find out who is your personal banker, who makes the decision, regular meetings and availability.
Create the relationship. Talk to multiple people at the bank. Find out who else uses it. Become knowledgeable.
Daily Overview: Choosing the right bank is important. Create relationships & establish trust with the institution handling your money.
By Cheryl Sowa · September 22 2009
small business tips, small business, business, tips
Tips from September 21, 2009 The Small Business tips today will be about how to manage your finances by conserving capital.
Know what sells best. Figure out number of units sold, best sellers, average order, buying trends and what your customers want.
Determine prices by product, service, direct, and indirect costs, as well as keeping the image of the business & some profit.
Be hesitant with money. Don't commit capital unless absolutely necessary. Know you absolutely need something, then go ahead.
Conserve in the workplace. You can lease space, computers, or other office equipment instead of buying to save money.
Daily Overview: Every penny is important when trying to conserve capital: be smart, sensible, and resourceful.
By Cheryl Sowa · September 21 2009
small business tips, small business, capital, finances
Government, Politics, and the EconomyRetail Sales in U.S. Jump 2.7%, Most in Three Years Thanks to the government's Cash for Clunkers program, retailers in the U.S. surged in August - the most in three years. Bloomberg.comManagement and OperationsBe Ready and Prepared for Disasters: September is National Preparedness MonthFire, flood, hurricane, or tornado, you need to be prepared to protect yourself, your family, and your business from mother nature. BusinessKnowHow.com Management and Operations
By Cheryl Sowa · September 15 2009
small business brief, marketing, small business, retail
Government, Politics, and the Economyhttp://online.wsj.com/article/SB125233977333690447.html Key Week for Obama Starts on Feisty Note President Obama starts off the Tuesday after Labor Day by stressing the importance of his new government-run-health-insurance program, while key senators collaborated for a bipartisan deal. WSJ.com Management and Operationshttp://www.womenentrepreneur.com/2009/09/hiring-without-the-headaches.html Hiring Without the Headaches Salary, taxes, and benefits are just some of the worries that arise for entrepreneurs when they decide to add on to their workforce. Small businesses need to have a hiring process in place to effectively hire employees for their small businesses. WomenEntrepreneur.com Management and Operationshttp://entrepreneur.com/sales/customerservicecolumnistsydneybarrows/article203136.html Prioritize the Customer Experien...
By Cheryl Sowa · September 08 2009
small business brief, marketing, small business, sales
Tips from July 7, 2009 The Small Business tips today will be about organizing your finances.
Keep your bills in one place to pay them on schedule and avoid unwanted late fees or worse, damaging your credit record.
Consolidate accounts to one credit card if you have outstanding balances. Check balance transfer rats & one time fees.
Use a software program. Quicken makes bill paying and reconciliation easy. ABC members receive discounts on the software.
When saving receipts, save them in order of your purchases. When the statement comes, it will be easy to go over.
Daily Overview: Avoid errors with your finances by organizing. You will also save time and money!
By Cheryl Sowa · July 07 2009
small business tips, finances, organize, bills
Tips from June 29, 2009 The Small Business tips today will be about ways to safeguard your finances to save money.
Keep track of every purchase by saving receipts from transactions. Find an effective way to record purchases, whether a computer program or check book. Validate purchases by keeping up with bank statements and your purchases. ABC members have a discounted program, Shoeboxed.com, for record keeping. Try http://bit.ly/7Qb58.
Back up your computer! A virus, crash, or even a simple computer malfunction can erase data and records. If you have a computer program for your finances, back that up as well. Losing this information could cost your business hundreds of dollars and many hours of recovery. Save your information on an external hard drive to ensure safety.
Check, recheck, and check again on your bank statements. Although unl...
By Cheryl Sowa · June 29 2009
small business tips, small business, bank, computer
