Each business has its own unique circumstances and preferences. Large conglomerates or international corporations will most likely opt for an in-house accounting team that can be adjusted to their particular circumstances. For the rest of us small business owners, there are three basic solutions to choose from. Now let’s see which one of these shoes fits best… (more…)
Starting a business is a huge process; it doesn’t happen overnight. Once you’ve incorporated, what comes next? We asked our small business experts what they did just before or after they opened their doors. Here’s what they had to say…
“When you start a business you need to get your legal docs (operating agreement or articles of incorporation) and accounting systems set up first.
Once your business foundation is set up you need to focus on your product or service so you can provide customers with value that they will pay for.
Finally, and most importantly, you need to focus on sales and marketing. Unless you can sell your product or service then you don’t have a business!
We all try to be in-tune with customers: sending surveys, providing feedback forms, offering round-the-clock support, and monitoring social media channels 24/7. But even if you respond to every comment, positive and negative, you’re not hearing from your most valuable customers. And it’s due to one common prejudice: survivor’s bias. (more…)
Starting a business is a step by step process – starting with an idea, a business name, and creating a business plan. A business plan includes the purpose of your business and how you will go about marketing or advertising the same. It also includes the expenses, liabilities, assists, budgets, and how your business plans to make a profit and grow. Growth alone is a complicated subject where you have short-term and long-term growth plans based on how well your business is doing. Once you’ve done this, it’s time to address legalities such as licenses, insurance, recruiting employees, etc.