Starting a business is both exciting and stressful at the same time. The joy of following your passions and being in charge of your own endeavor is great, but you also have to worry about finances and the longevity of your business. No one wants to lose money — especially not those invested in a startup. In order to avoid potential financial loss and improve your finances, … [Read more...]
The design and layout of your office space will either inspire or completely discourage the productivity of your workers, so when choosing a design, you need to be very careful. However, if you’re a young business and just starting out, you probably won’t be able to afford to spend too much money on your office. What this means is that you’ll have to come up with an engaging … [Read more...]
Every penny counts with your small business. Money can be a huge struggle, particularly for a business that’s attempting to grow or offer innovation. You need the capital to achieve your dreams, and if you don’t want to go running to an investor or wind up with more debt, you’ll need to keep a close eye on your finances. Savvy financial management can help you achieve your … [Read more...]
Owning and running a small business can be tough. This is especially true if your SMB is new. In fact, 30% of new businesses are expected to fail within their first years. Furthermore, 50% will fail within the first five years and only 44% will make it past the first 10 years. To be one of the 44%, it takes skill and, along with that, a greater knowledge of both processes and … [Read more...]
Coming up with a business idea and dedicating your life to it is an exciting yet terrifying transition in one’s life. To make things even harder, the process of starting your own business is never easy – there are so many things you need to worry about and, honestly, odds of succeeding are rarely in your favor. Namely, statistics show that 90% percent of startups fail, meaning … [Read more...]
Knowing how important and convenient the latest technological advances are for your business, you likely want to keep up with the latest trends. However, new tech can be expensive, and it can also get expensive to maintain if you need a dedicated in-house IT employee to manage it all. This expense can be hard for small businesses to afford, but there are more affordable options … [Read more...]
Entrepreneurs and small-business owners have many stresses to deal with, and due to their level of both financial and emotional investment, may end up heading towards bankruptcy without being fully aware of the circumstances. Being on the lookout for warning signs is obviously key, but there are other steps you can take to salvage a bad situation. I interviewed Jon Paul Kelly … [Read more...]
You started your business with great hope for the future in front of you, but somewhere along the line, it all went wrong. Your finances are a mess, and you might even be teetering on the brink of bankruptcy. What you need to do is reevaluate your business and its finances fast and make some serious changes if you want your business to survive. Here are some ways to re-envision … [Read more...]
Statista reports that, from 2011 to 2015, businesses in the U.S. spent more than $863 billion total in advertising-related expenses. Furthermore, these costs increase around $10 billion annually, which just goes to show that getting your name, products, and services out there can take a huge chunk out of your budget—especially if you’re a smaller business. To help keep these … [Read more...]
Choosing the right commercial space is a huge endeavor for any small business. You want the perfect location, with adequate space, and of course, at a price that won't break the bank. The infographic below, submitted by John Harrison of Hones Lawyers, is a helpful tool that simplifies the commercial property search process by offering tips and advice for business … [Read more...]
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