In today’s digital age, online reviews can make or break a small business. With the ease of access to social media and review websites, customers can easily voice their opinions and experiences with your business online. As a small business owner, it’s essential to understand the importance of online reviews as they will impact your brand image, sales, and customer loyalty. Boost your brand image Online reviews are the first… Read more
AI (Artificial intelligence) has been both a huge disrupter and enabler for businesses of all shapes and sizes. (AI) is no longer just a pipe dream of science-fiction. It has become a vital aspect of today’s world and has meant businesses or employees can and are becoming more productive by leveraging the many AI tools for business activities. In the past, the application of AI was limited to big corporations… Read more
For many business owners, partnerships are an ideal way to run a business. Operating a business with a partner means you don’t have to make all the decisions on your own. It means you have someone there with you, to help you carry the burden and share ideas with. That can be a great thing, when it lasts. Unfortunately, many business partnerships fail. Although they fail for a variety of… Read more
If your business hasn’t made it a habit to support a good cause, here’s why you should: giving back does more than make a difference in your community. Participating in charitable activities can have a positive impact on your staff, your customers and your bottom line. Customers want to support companies that demonstrate a commitment to more than earning a profit. A 2010 study by Cone Marketing showed that 85… Read more
Most small business owners who use accounting software quickly master the basics. They automate processes like invoicing and payroll, track expenses and view real time financial reports to manage cash flow and make better business decisions. But what many business owners don’t take advantage of are key insights that can improve customer care and increase sales. Here are some smart ways you can use your accounting software to help boost… Read more
Inventory is the lifeblood of your business. It is the largest asset on your balance sheet and your company’s biggest revenue-generator. It goes without saying that poorly managed inventory can do serious damage to your bottom line. Businesses without clear strategies for streamlining the in and out flow of goods will have trouble meeting their customer’s demands and will see mismanaged stock corrode their profits. Follow these tips to ensure… Read more
On average, small business owners spend 10 hours each week recording, organizing, and processing financial transactions – everything from accounts receivable and payable, to employee payments, expense receipts and supplier invoices. While the process may be time-consuming (and tedious!), effective bookkeeping is the foundation of sound financial management – which in turn, is the lifeblood of your business. Feeling overwhelmed by mountains of paperwork and complex calculations? Here are three… Read more