Category: Tips and Tools

Company liquidity is a measure of how easily a company can meet its short-term financial obligations. It's an important metric for business owners to monitor, as it may indicate whether or not there's potential default on debt obligations. In this blog post, we'll outline 11 practical tactics business owners can use to boost their firm's liquidity levels. 11 Practical Strategies to Increase Company Liquidity 1.  Optimize Working Capital Management Effective management of working capital is paramount when it comes to liquidity. This requires timely accounts receivable and payable processing, inventory control at optimal levels, and cash flows are optimized. 2.  Reduce Overhead Costs One way to enhance company liquidity is by cutting overhead expenses like rent, utilities and insurance. Business owners should search for ways to save money on these…

When looking for a payment processor for your small business, there are numerous factors to take into account. What type of business do you have? What payments do you accept? And most importantly, what budget have you set? These questions need answering before signing up with any payment processor. In this blog post, we'll look at different types of payment processors and explain how they can benefit your startup. Finding the Right Payment Processor for Your Small Business Traditional Payment Processors Traditional payment processors are the most common type of payment processor and typically charge a fee for every transaction. They accept most major credit cards, debit cards and ACH payments. Depending on your business type you may need to pay additional fees for specific services like fraud protection or…

The tech market is consistently one that shows tremendous promise, and bringing out the right tool at the right time can offer a lot of success. If you have an idea and you think that it’s the right time for it, you want to make sure that you get out before your window closes. However, it takes time to start a business. What can you do to build and launch your tech startup before you miss your opportunity? Here are a few tips. Fast-Tracking The Launch Of Your Tech Startup Find your funding more quickly Getting funding for a new business is not something that should be overly rushed. You should make sure that you’ve done your work and put together a business plan to prove the potential success of…

Most entrepreneurs use revenue growth as one of their markers of how well the company is doing. Over time, profits should rise steadily despite monetary output for advertising, employees and other expenses every business has. What is a Good Annual Revenue Growth for Small Businesses? The average small business owner makes just a bit above the median wage for employees in the United States. The average worker makes around $58,260, while the average small business owner makes around $60,151. Labor is still the top cost for businesses and hits about 70% of overall spending, with inventory as the second highest expense. How can you think of revenue growth in new ways, to improve your bottom line and get a fresh take on how to move forward. Has Your Small Business…

Solopreneurs work hard to make their businesses a success. They even go up against some of the biggest players in their industry. Yet, that doesn’t stop them from moving toward having a shot at making it. However, there is one thing that many solopreneurs overlook — cyber threats. Cyber threats are a growing problem for businesses of all sizes and types. Yet, they can be especially harmful to solopreneurs because they have fewer resources and lower expertise to deal with them. Here is more on why solopreneurs should pay more attention to cyber threats and how they can affect their bottom line. Why Solopreneurs Need to Pay More Attention to Cyber Threats Cyber Attacks on Small Businesses Can Be Costly Small businesses are just as vulnerable to cyber attacks as…

Business competition can be unforgiving, to say the least. This is especially the case if you are working in a fast-moving market, where customers shop around to get the best price. If you want to get that competitive advantage then this is the guide for you. It’s Time To Move Past Your Competition Identify Your Competition The first thing that you need to do is understand who your business competition is. You need to know what they are offering and what their strengths are. By doing this, you can then exploit their weaknesses. If you can capitalize on this, you will soon find that it is easier than ever for you to differentiate yourself. If you see that another company is doing better than you, look at what they are…

Are you looking for ways to create a buzz and attract potential customers for your new business product? The steps you take can help establish the product as a leader in the market. Before anything else, it is important to build anticipation for its release. When generating interest, it is vital to look at early adopters, who can provide valuable feedback to refine the product before its final release. Since 25% of business revenue comes from product launches, interest generation should be a priority for your business. Here are a few innovative ways to generate interest in your new business product. 3 Ways To Generate Interest In Your New Business Product Influencer marketing Partnering with influencers in your industry can attract interest in your new business product. Influencers have a…

As a coach or consultant, it can be difficult to watch the lack of progress of so many promising entrepreneurs and coaches. They’ve dreamed for so long about creating a solid, sustainable business, and yet, all they do is dream. You know the people I’m talking about. They attend conferences, sign up for free webinars, buy paid training, and sometimes even work with a coach or two. And yet week after week, month after month, year after year, they fail to make any progress toward their dreams. Are they just lazy? No. It’s something worse. They don’t know how to move from a dream to a plan and they’re stuck. How To Transform A Dream Into A Workable Plan Start With the Long-Term If you’ve ever been on a job…