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.…
Continue reading
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.
For many smaller and mid-size companies, the hiring CFO-level talent can be too costly and completely unfeasible. In addition to searching for the right candidate, you have to offer a highly competitive package – even in today’s economy – to attract the top-level finance talent you need for business success.
Here’s the hundred and first time you’ve heard it: it’s a tough market out there.
Q. I’ve seen you point out the question “Anything else?” as one of your “really good sales questions”. I see it as a close-ended question. Is “What else can I do?” as effective, or more or less effective?
Being a small fry in an ocean of much larger fish is certainly not anyone’s idea of fun. And when you’re a small company who’s not only worried about the competition but also trying your best to just stay afloat amidst the strong currents of the business world, you feel overwhelmed and find it hard to cope.
We hear story after story about organizations trying to reinvent themselves or wondering why they have lost market share or stakeholder support. Often times they are so close to the root challenge that they overlook it and try to advertise or promote their way out of slumping sales. A better approach: look deep to examine and refine your true brand essence and never loose sight of the essential emotional connection your brand must make to each guest, customer or stakeholder.
