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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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