New businesses are automatically classified as sole proprietorships, but there are a few steps to make them completely legal. Learn those steps here.
As a small-business owner in the service industry, establishing a solid pricing strategy is likely one of the biggest issues you’ll face in the early stages. Overcharge and customers could laugh in your face. Offer your services at rock-bottom prices and customers could see you as desperate for work and exploit that by offering you [...]
You may be making a solid living off of one type of customer, so you may hesitate to move out of that sweet spot. However, what if your target demographic’s needs change? Or if your industry experiences radical change requiring you to shift your focus? Or you lose those one or two customers who make [...]
Pricing your products correctly is one of the more difficult tasks you will face as a business owner. Charge too little and people might perceive your product as “cheap.” Charge too much and people won’t be able or willing to purchase your products. Customers want value, but they also want to feel like they're getting their [...]
As a small-business owner, up until this point, you may have managed your money successfully. Software programs like QuickBooks make it possible, even if you don’t have much financial knowledge or experience. However, as your business — and revenue — grow, managing your financials may become a task you don’t have the time or knowledge [...]
If you have more work than you can manage or your employees are claiming that they are completely overwhelmed, it may be time to increase your staff. Being short-staffed does more than just increase stress for you and your team. It can limit your growth potential as you are forced to forgo promising business opportunities [...]
Email marketing is not going anywhere. According to a study by ExactTarget, 77% of consumers prefer to receive permission-based marketing communications through email. Additionally, using email as the primary source of marketing for small businesses is on the rise. 41% of small businesses nationwide now use email to market to their customers, a nearly 25% increase from last [...]
With each tax deduction you take, you reduce your overall tax burden. And as a small-business owner, you can use all the relief you can get. Make sure you don’t leave money on the table this tax season by taking advantage of these top tax write-offs: Home Office If you use a portion of your [...]