For a business to succeed, it must generate profits but also operate with positive cash flow. For a business to be viable, cash flow is king. So having a high profit is great. But low cash flow results in a profitable business unable to pay its bills. There is a solution. Let’s look at a couple of areas of your business where you may be able to find a solution.
The success of most businesses is dependent on the effectiveness of their marketing. Getting consistent results from your marketing requires that you regularly evaluate how well your programs are doing driving inbound leads and ultimately sales. If your results aren’t what you expect, or a particular marketing activity isn’t performing as expected, a marketing audit will help you identify where the problems lie.
Even if you have no plans to retire, succession planning is needed in the event something happens to you – death, serious illness or disability.
Content marketing is creating, publishing and promoting value-based content to attract your target audience, position you as a trusted expert and advisor in your industry, help build your online brand presence and drive more traffic to your site.
The vast majority of employers are dangerously unaware of the risks and responsibilities associated with serving as their company’s 401(k) plan sponsor.
Patience and consistency – virtues in many aspects of your life. These same qualities are important for marketing your business, and even more critical for your inbound marketing efforts. Putting an inbound marketing plan in motion that attracts your ideal client is something that requires stamina and determination.
When it comes to employee theft, fraud and embezzlement, sometimes there is no recovery. Unfortunately, the reality is that the court system will not be able to help you in recovering any losses, even after spending thousands of dollars in legal fees. I’m sure you have heard the phrase, “An ounce of prevention is better than a pound of cure.” No truer words have been said.
A constant, challenging goal is improving profitability. Daily emergencies keep us busy – it’s easy to “wait until tomorrow” to address systemic issues that eat away at profitability. Or, as famous author Peter Drucker puts it, “Profitability is the sovereign criterion of the enterprise.” Minimizing overhead is the fastest, most predictable way to improve your bottom line, versus painful measures like raising prices or reducing head count. Let’s look at five ways that improving energy efficiency will improve profitability.
Many small businesses feel that having a strong brand identity is not necessary. Some think it is something only large companies need. And although some might invest in a logo, they miss the fact that a brand identity is so much more than just the visual impression of your business.
If you’re a small business owner, you’ve likely considered offering your employees a retirement plan. If you’re like most small business owners, you’ve likely run into a wall of confusing retirement plan options. Find out what you need to know to choose the right retirement plan for your small business.