Category: Tips and Tools

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…

Each new tax year, business owners wonder what’s changed and how they might make the most of their deductions to reduce their tax burden. There are some important changes with business taxes in 2023 that you must be aware of going forward. Many of the tax credits businesses enjoyed in years past are being phased out starting at the end of the 2022 tax year. Going forward, corporations may pay more in taxes. However, the changes also impact small business owners or those who run a side hustle. Are Tax Rates Changing in 2023? Kiplinger recently reported that the seven tax rates that applied to 2022 also apply to 2023 and are 10%, 12%, 22%, 24%, 32%, 35% and 37%. However, what does change is the brackets, so your income tax…

Small business marketing has gone through numerous changes over the years. Even so, many things about it remain constant, and there are interesting things on the horizon to look forward to as well. Here’s a closer look at the changes and future within small business marketing and what it means for people who use the technique. The Evolution of Small Business Marketing and Its Future Search Engine Optimization Still Matters People who own small businesses should ideally know the fundamentals of search engine optimization (SEO). Applying them correctly will help websites rank higher in online search results, making it easier for current and potential customers to find a business or brand. However, the best practices for SEO have evolved. In the early days, marketers could make their websites rank well…