Archives for November 2021

Balancing Your Books: Tips To Avoid Cash Flow Barriers

November 16, 2021 by Contributed Post Leave a Comment

Cash flow issues are among the most common causes of business failure. Launching and running a company requires careful financial management. It can be very challenging to balance the books, particularly in the early days. In this guide, we’ll provide some tips to help you avoid cash flow barriers.

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Budgeting

Budgeting is hugely beneficial for businesses of all sizes. With an accurate budget, you can determine how to spend your money and set limits to prevent getting into debt. Update your business budget regularly, use precise numbers rather than estimates where possible and try to use the figures to reduce expenses. Keep a close eye on where your money is going and monitor your income against your outgoings. You can use apps or software programs to manage your budget, and you can also start forecasting to help you predict profits and losses and decide how to utilize your money.

Invoices and deadlines

When you manage a company, it’s natural to want to form strong bonds and positive relationships with customers, but this shouldn’t come at the cost of falling behind with payments. Issue clear instructions for clients and set firm deadlines so that you are not chasing outstanding invoices or enduring financial hardship because you are owed money. Remind customers to settle bills when the deadline is looming and consider using a commercial collection agency if you’ve tried and failed to recoup payments. Communicate clearly from day one and make sure you have a collection process in place to handle payments quickly and seamlessly. If you let deadlines pass, you run the risk of getting into financial trouble.

Managing debts

It is common for businesses to have debts, especially during the first few years when the outgoings tend to be higher than income. If you have borrowed money, it’s essential to make your payments on time and to include any recurrent costs in your budget. When you reach a stage where you can start to clear debts, tackle high-interest loans and credit cards first. If you are borrowing more money, or you are using credit to survive, it’s wise to seek expert advice to help you manage your debts and find a solution.

Lowering expenses and increasing sales

We often focus on boosting sales when trying to tip the balance towards generating profits, but it’s vital for business owners to be wary of both their income and their outgoings. Reducing expenses can help to increase the margin and improve cash flow. There are several ways to lower spending, including considering more flexible, short-term staffing options, negotiating better deals on supplies, using technology, such as automation software, to increase efficiency and productivity, and streamlining processes. If you’re keen to supercharge sales, consider promotions and discounts, make sure your marketing campaigns are targeted and use customer feedback to make improvements to your products and services.

Cash flow issues are one of the most common reasons new businesses fail. If you run a company, it is critical to try to balance the books from the outset. Use budgeting techniques, set clear deadlines for client payments, manage your debts and aim to reduce expenses and boost sales.

Commercial Real Estate Trends to Follow in 2022

November 11, 2021 by Diana Smith Leave a Comment

The real estate market is constantly changing and that’s what makes this industry so amazing, appealing, and interesting. However, what this also means is that you have to be very careful when following the newest trends and tendencies that define this area, simply because of all the changes that keep happening almost every single day. If you wish to become a true expert, checking out the latest commercial real estate trends is a must, and if this is something you’d like to do as well, here are a few areas you should look into.

Affordable housing

Whether you’re an investor, a landowner or a buyer who’s trying to buy property without wasting too much money, checking out affordable housing might be the best way to go. This is one of those inventive and extravagant ideas that seem unreal and impossible at first, but turning this concept into reality is easier than it sounds. It all comes down to using affordable materials and construction costs, as well as giving people more for their money. This idea comes with lots of different benefits for everyone involved, including the local economies, so make sure you find out as much as you can about this concept.

Houses, houses, houses

Because of the global COVID-19 pandemic, our lives have changed drastically in the past year, and this has reflected on the real estate market as well. Instead of insisting on fancy apartments that are small and easy to clean, people are going for houses and bigger living spaces as much as possible. The reason for this is quite simple to understand – the need for space, privacy, comfort, and luxury is now more obvious than ever – so keep this in mind when exploring other commercial trends as well. It’s not just simple homeowners who are interested in moving into houses, but people running small businesses and startups, which makes this concept more versatile than you can imagine.

Going modular

Instead of doing everything on the actual site, like people have been doing for centuries, new trends dictate the need for modular building. What this means is that all the preparations, projections, measurements, and construction are done offsite, and then the materials are brought to the site and put together. Of course, this is something you can’t do on your own, which is why sticking to experts in modular building is the way to go, regardless of the property you’re building and its location. These people will know what to do, so listen to their tips, follow their lead, and don’t worry about the outcome!

Property maintenance

This might not seem like the most important thing in the world of commercial real estate, but with all the problems brought by the COVID-19 pandemic, thinking about maintenance is something we all need to do. Adequate property maintenance is a great way to save lives, as well as money too, which makes this a win-win concept you mustn’t avoid. And the best thing about it is that you’re going to help everyone you work with – from your employees and your peers to your business partners, investors, and clients – feel safer and healthier, and that’s something you can’t put a price on.

In addition to these commercial real estate trends, there are other things you need to watch out for, so start by learning the basics and upgrading your knowledge as you go. That way, you’re going to become an expert in commercial real estate quite quickly and without wasting too much time and energy, and that means you’ll be able to maximize your ideas and make the most of your potential in this area – and that’s something we all need!

4 Tips on Promoting Your Local Small Business

November 10, 2021 by Contributed Post Leave a Comment

There are many ways to promote your local small business. One of the most popular methods is through social media marketing, which can be done in various ways. It’s essential to think about what platform you want to use for this promotion and how it will work best with your target audience. The following blog post will go over four tips on promoting your small business using social media marketing, so keep reading!

Photo by Timur Saglambilek from Pexels

1 Use Facebook ads

Facebook ads are a great way to promote your small business. They’re pretty inexpensive and reach a large audience, making them ideal for any local business owner who wants to expand their customer base. Another benefit is targeting specific groups of people based on demographics like age range, gender, location (including city or neighborhood), education level/field of study, languages spoken, etc. Facebook ads also let you track conversions which means it’s possible to see how many people chose to click through after seeing your ad!

2 Try Google ads

Another great way to promote your small business is through Google Ads. These ads work similarly to Facebook ones but can be a little more expensive depending on the location of where you’re advertising and how much competition there is for specific keywords in that area. In addition, it’s possible to use AdWords Express, which makes things very easy because all you have to do is set up an ad then wait for it to go live! There are also tools available like Google Analytics that let you track traffic from different sources and conversions made after viewing these advertisements.

3 Give out flyers and business cards

This is another popular form of promoting your small business. Flyers and business cards are inexpensive to produce but can reach a broad audience, making them great for any local business owner who wants their name out there! The key with flyers and business cards is to make sure they’re attractive because people tend to be drawn towards well-designed pieces like products by thefoilprintingco.com. You also want to think about what information should go on the flyer or card, so you don’t overwhelm potential customers by giving away too much info.

4 Optimise your website interaction

There are many things you can do to optimize your website interaction. One of the simplest ways is by using Google Analytics which provides analytics about how users interact with your website like pages visited, bounce rates (how quickly they leave after seeing one page), traffic sources, and keywords used in search engines to find something. On your site, etc. There’s also an option called AdWords Express that lets you track conversions for certain ads or keywords on Google, but make sure it works well first before adding more!

There are various ways to promote your local small business, but depending on which method you choose will depend on how well it works for your target audience.

Financial Challenges? Get Your Business Back on Track

November 8, 2021 by Katie Conroy Leave a Comment

Running a successful business can be a winding path with highs and lows. But don’t let setbacks keep you from striving toward your vision. Your entrepreneurial dreams can continue with the right knowledge, actions, and professional help. Follow these tips from Mike McRitchie to get back on the right track.

1. Brand Assessment and Development

If you’ve had a setback, your business may be in need of rebranding. A brand is developed through the words, actions, and look of your company; it should be reinforced with every move you make as a business owner. Decide what qualities are most important to your business — innovation, trustworthiness, and consistency are possible examples — and build your brand with respect to those qualities, making sure each decision you make reinforces your brand. This not only builds confidence in your brand for your customers but helps attract quality workers who also share your values and vision.

A crucial part of your brand is your logo design. A well-designed logo will be recognizable and increase customer loyalty. If you’re on a tight budget, avoid hiring a graphic designer to create your logo and use a free online logo maker instead. This tool will allow you to generate a new logo using previously designed templates which you can customize to your needs.

2. Have a Stellar Website

Website design is not something your business can afford to skimp on. For many potential customers, your website is their first interaction with your company and informs them about your level of professionalism and quality of work. It needs to be attractive to the right customers, and they need to be able to navigate it easily regardless of the device they are using to visit the site. If a site is difficult to use, most potential customers won’t want to struggle just to purchase your goods or services; they’re more likely to simply leave your site and search for another business to buy from. Create a website that is optimized for local SEO and balances great and compelling design with seamless functionality .

3. Market Effectively on Social Media

Social media is where your customers are, and the potential for new-customer reach is nearly limitless when social media marketing is used effectively. With specially designed ads targeted to the correct audiences, you can grow your customer base and increase revenue. Engage a professional or service to manage social media for your company that is integrated across platforms and informed by data.

4. Embrace Email Marketing

Newsletters and instant updates are wonderful ways to stay connected to customers online. Grow your email list and communicate with list members efficiently and in a timely manner, putting links to your website, profiles, and products directly into their hands. This encourages casual visitors to become repeat customers, and there is no better place to make sales than with customers you’ve already worked with. With the right data analysis informing decisions, email marketing can be one of the most effective ways to generate revenue. If understanding the data is difficult, hire a professional to handle email marketing for your company.

5. Form an LLC

When you’ve had setbacks in business, you know it’s important to protect yourself and your assets. Forming a limited liability company is an efficient and easy way to do this. This business formation offers extra protection between you and your assets and those of your business, making it one of the more important steps in starting a business.

Don’t let business setbacks keep you stagnant. Use quality information to make decisions and keep moving toward your entrepreneurial dreams. With the right branding, data, and steps on your part, they’ll soon be within reach.

How To Make Your Exhibition Display Stand Out!

November 8, 2021 by Contributed Post Leave a Comment

Running an exhibition display stand isn’t always the easiest thing to do, but it’s something you should be doing if you want to make your brand known to the world. There will always be new people who want to learn about your brand and you have to look at your display through their eyes to know how to appeal to your audience. The new people who will be learning about your brand for the first time need to know what you have to offer and facilitating your vision for your exhibition display stand is important.

You could be smart with a uniform look and minimal decor, or you could go all out with a 3D display and complimentary 3D glasses from American Paper Optics. It’s completely up to you how you plan to organize your display, but you have to consider how to make it stand out in the best possible way. So, with this in mind, we’ve got some of the best tips you’ll need for a great display stand.

Image Source: Pexels

Use visuals as much as possible! You know that people are attracted to pretty things, right? Well, use that and make sure that you are telling your brand story through as many visuals as possible. Ensure that your design is beautiful and you will make sure that your brand visuals will be visible from a distance. Apart from amazing visuals, you can choose banners and posters that make your stand look inviting, too.
Use graphics as much as possible. Carrying the flag of your business is important and the right graphics can help you to do that. Graphics can be changed and manipulated to suit your business and you can maximize these so that they have an amazing effect. You can use a graphic designer to help you out here, and this will help you to create a brilliant look for your brand.
Go for it with 3D objects. We talked about 3D visuals earlier but 3D prints remind us of some of the most effective ways you can create an eye-catching experience for your audience. You can do this for your exhibition without breaking the bank and you can see an immediate effect with bringing in the business, too. You can incorporate 3D photography and video, too!
Use bright colors. You should be considering how you can attract attention from a distance, and once you have the right colors, you’ll see people move toward you. Catching the eye of your audience is so important and when it comes to a display exhibition, you need that if you want people to come your way.

You can bet that exhibitions are packed to capacity as often as they are open and customers and business network contacts will always be there to see what you have to offer. You will be able to sell your product or service to them and get their information to expand your customer contact list, too. With the right display, you will be able to outdo your competitors and stand out in your business. You can be open minded, here, making use of graphics, colors and more to have a unique and exciting display.