Let’s cut to the chase. If you’re reading an article about when to “expand your business,” there’s a good chance you’re ready to take your business to the next stage in its evolution. As you know, timing is everything. Growth will always be a risky proposition—scale too early and you could jeopardize your business. However, […]
In order to obtain a business loan, many (if not most) loan providers will take a hard look at your credit score. That makes sense since your personal credit score and your business credit score are fairly strong indicators to lenders as to whether or not you’re a reliable borrower. Your credit score(s) will serve […]
Stress is an unavoidable by-product of owning a small business. And while it does play an important role in helping entrepreneurs push themselves above and beyond, too much stress can lead to fatigue and burnout. Small business owners need to periodically detach, relax, and hit the reset button on their stress barometer, which is easier […]
Getting a handle on your cash flow doesn’t have to be difficult. That said, it is arguably the most important factor in keeping your business afloat, as well as when qualifying for financing. According to the Small Business Administration (SBA), 20 percent of small businesses fail within their first year, and as many as 50 […]
“A goal without a plan is just a dream.” – Antoine de Saint Exupéry A new year provides your business with new opportunities to grow, innovate, and thrive. But what’s more important than the opportune moment is your preparation to seize it. It’s not enough to sit on your surfboard waiting – you have to […]
Cyber attacks can be devastating for businesses of any size, but the risks are multiplied for small to medium-sized businesses for a multitude of reasons. SMBs often lack formal preventative measures and procedures, exposing their organization to more risk. They often feel that they cannot afford to upgrade their security systems, or do not understand […]
Crafting a strong payroll policy is a necessity for any business. After all, payroll and benefits are some of the largest expenses any business will incur. Due to the large amount of money going in and out of the payroll department, any error (whether intentionally or due to incompetence) could be a costly one. By […]
As consumer behavior continues to change, businesses must adapt to succeed. This is no different in the foodservice industry. Over the last few years, there have been a multitude of technological innovations focused on streamlining restaurant operations, but many of them are still underutilized. Here are four ways that technology can help you improve your […]
With the year winding down, it’s a great time to tackle some housekeeping duties that you may have been putting off. Having a simple checklist to follow can help you complete your most important tasks before December is out. As you get ready for the countdown to the new year, here’s where you should be […]
For a lot of business owners, the reasoning is simple — get enough customers and we’ll be golden. However, acquiring new customers is just one piece of the puzzle, and there are many more areas that you need to focus on in order to stay successful. Customer retention is one of those areas! Sadly, businesses […]
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