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3 Essential Tools for Starting
and Maintaining a Small Business
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by: Ryan Hough
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We
believe that there are 3 factors that drive the success of small
businesses.
1) Acquiring start-up capital
2) Finding customers
3) Accounting for, budgeting and controlling sales and expenses
The following resources will help your small business achieve these
success factors.
Acquiring Start-Up Capital
An adequate supply of capital is essential as many profitable
businesses fail because they don’t have enough cash to pay their
employees and suppliers. But what is an adequate supply of capital? The
only way to tell is by doing a significant amount of research on your
potential market and formally documenting this in a business plan. I’m
sure you know that a business plan is a very important document that is
crucial to convincing your banker to lend you money.
There are two ways to obtain a business plan.
1) Do it yourself by amending a business plan template, or
2) Hire a professional to do it for you.
Obviously obtain 1) will be a great deal cheaper.
Our research led to a website that has over 60 high quality and free
business plan templates. We also found a directory that you can use to
easily find a business plan writer in your city – where ever you live
in the world.
Finding Customers
Finding customers is a difficult and expensive task for service
business owners such as accountants, lawyers and plumbers. We believe
that a cost effective marketing strategy for service business owners is
to simply give all their personal contacts a few business cards.
Our research led to a few websites that have pre-designed business card
templates. We felt that the diversity and quality of these designs was
outstanding. In addition, we found that you can obtain a significant
saving by finding a printing service on the Internet. We found that you
could get 2,000 full color business cards for as little as US $150.
Accounting For, Budgeting and Controlling Revenue and Expenses
Accurate accounting is very important for small business owners. It’s
essential that you have timely access to information that could make or
break your business. If stocks are running low – you need to know about
it. If a large proportion of your debtors haven’t paid – you need to
know about it. If you do not react to these situations quickly you may
have a situation where you don’t have enough money to pay your
employees – or worse still someone is stealing cash out the till.
Our research led to a website that compares and reviews top accounting
software for small businesses. The cheapest software cost US $89.99 and
the most expensive software cost US $1,499. It was interesting to note
that the top 3 ranked websites were not the most expensive and cost
between US $250 - US $300.
Hopefully you now have an idea of some of the tools that you can use to
grow and maintain your small business. If you would like to benefit
from our research please visit our website. We do not charge for this
research and offer the content freely on our website.
About the author:
http://www.best-quality-small-business-resources.com/
Ryan Hough is the webmaster of best quality small business
resources.com, who's aim is to help you save time and money by finding
reviews and case studies that will enable you to choose the best
resources at the right price.
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