As the recession continues to extend into 2010, we continue to be inundated by news about the challenges that face the small business community.
While we are not completely out of the woods in terms of the economy, there are several things that small business owners can do to protect their businesses during these challenging times:
Manage Collections: Outstanding invoices should be aggressively followed up on round-the-clock. Having unpaid invoices will create instability. Be aggressive and assume the worst.
Collect Upfront: Make sure that all of your contracts stipulate payment upfront. Net 30 can stretch into Net 60, then you are stuck doing work for 2-3 months without being paid.…
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There aren’t many good news stories about banks these days so if you’re looking for a new bank you may be facing the quagmire of what to look for and who to turn to when searching for a new bank. The answer may rest upon what your personal and or business banking needs are.
Small business owners have a higher risk of identity fraud than other adults according to a recent study co-sponsored by ITAC, the Identity Theft Assistance Center, and The Financial Services Roundtable.
Through recent advances in technology, the number of individuals working from home offices has greatly increased in the past decade. When individuals have taken the proper steps, home offices allow one to work from the comfort and convenience of home without sacrificing productivity. There are a variety of reasons why individuals would choose to work from home.
One of the biggest challenges facing small business owners is “How do I distinguish myself from my competitors?”
So you benchmark your company against others in your industry. Maybe you look at maximizing revenue per full-time employee, increasing first call resolution in your contact center or IT expense as a percent of revenue. How do you compare to your competitors? Is that the right comparison?
Maybe you’re working the tradeshow at the industry’s big annual convention for the next four days. Perhaps it’s a long-planned romantic vacation to an exotic resort in the Caribbean. Or maybe you’re just calling it a night and are heading home for the evening. No matter what your situation, there’s likely to be a time when you aren’t at the office, but you need to access something that’s on your office computer.
Happy New Year! Wouldn’t it be great if this year you could buy extra hours on Ebay or Overstock.com? It would also be great to win the lottery but that’s not going to happen (at least not today). While I can’t give you more hours in the day, I can give you some tips for saving time.
