Even the most visionary business can be derailed by cash flow problems. In fact, a recent survey found that a staggering 82% of start-ups and SMEs fail due to inadequate cash flow management. So it’s vital that you know some of the most common pitfalls – and how to avoid them. 1. Overspending too early.
Having cash on hand is an inherent part of doing business, but it also requires that business owners take proactive steps to make sure that all activity related to cash handling is accounted for and properly protected. Here are five steps toward safer cash management. Establish processes for keeping employees accountable. Cash management starts with
You want to start a business; congratulations! It’s an exciting adventure that is fulfilling, challenging, and wonderful all at once. It’s likely that you are feeling unsure of where to start or where to go to launch your small business. If that’s the case, you have come to the right place. We’ve compiled a 20-point
Imagine that your business had a massive advertising budget, the type of money that it takes to make a Super Bowl commercial. But instead of airing your ad during the Big Game, you decided that it would play on TV during 2 a.m. Law & Order re-runs. How many people would see it? The scenario
Having retail space is great. But, did you know that you could multiply your sales and raise brand awareness by selling online? Here are the benefits of expanding online: Open 24 hours a day. Online stores don’t have concrete hours. Consumers are able to go online at their leisure and buy what they want. They
User engagement is essential to your marketing success. Without it, you’re just yelling into a wind tunnel. People need to care about what you’re saying, and they need to feel like they are part of the conversation. When they do, they will enthusiastically spread the word about your brand and what you have to offer.