Running a small business can be very rewarding and profitable. And, running a small business can be difficult as you deal with all of the details. In our Small Business section our aim is to help you put things in perspective, learn to do the most important things first, and find the hidden costs that sap your profits and your strength. Small business sales can be strong but your small business profits may not be. Read our articles in this section for help in avoiding small business pitfalls and realizing growing profits.
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Strategic planning is a process. It helps you to document and establish a direction for your small business. Strategic planning allows you to define your business's mission, vision, and values. A well-formulated business strategy can play an essential role in your company's growth and eventual success as it tells you and your employees how to respond to challenges and opportunities.
Marketing plays an integral role for small businesses. Even if you have excellent employees, sell the best products, or offer top-notch services, your business may not grow as expected if you do not have a well-planned marketing strategy. Having a Strategy First Mindset will help get your company known and have a solid online presence.
Tax season can be a stressful time for everyone, especially small business owners. Staying compliant with the IRS is one way to remove stress from owning a business. Creating a Tax Strategy, Consistently Filing Quarterly Taxes and Staying current on Payroll Taxes are also key to staying compliant with the Internal Revenue Service.
No one is born an expert at business. For any business to succeed, the business owner must be ready and willing to learn. Some specific tips and tricks contribute to the success of small business strategies.
The introduction of accounting software and other technology to businesses can increase productivity by a large margin. Technology helps reduce human errors as much as possible and helps to save time.
An IT Strategy helps you harness technology to improve your business' overall output. When your IT Strategies agree with your business strategy, technology becomes a tool that opens up your business opportunities to grow.
Small businesses need time to succeed and doing your own accounting and bookkeeping is often time consuming and frustrating. Outsourcing these responsibilities will give you time to focus on other aspects of the business. By outsourcing, you also benefit from things like having a team of experts to handle your accounts, more cost-effective services, professional advice, and access to advanced accounting and bookkeeping technologies.
Small businesses need time to succeed and doing your own accounting and bookkeeping is often time consuming and frustrating. Outsourcing these responsibilities will give you time to focus on other aspects of the business. By outsourcing, you also benefit from things like having a team of experts to handle your accounts, more cost-effective services, professional advice, and access to advanced accounting and bookkeeping technologies.
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To successfully run a small business, you need to know and apply the basics but you also need to know a few "tricks of the trade." A profitable small business does not just have lots of sales but also systems in place to turn sales into profits. This includes having a bookkeeping system that provides you with insights instead of just presenting you with columns of numbers. Your bookkeeping should help you make good business decisions and direct where your business in headed next.
At Exigo Business Solutions we don't just do your books and taxes or give accounting advice. We work with you to help make your small business efficient, effective, and ultimately profitable. We offer unique ways to approach doing your books such as the Profit First System. And, with the Fix This Next approach we help you find and fix the basic issues in your business that steal your time and rob you of profits. Read our articles for general principles and a few tips and tricks to make running your small business efficient, profitable, and fun!
We provide you with the opportunity to focus on the parts of your business that you love by focusing on the parts that we love - accounting, bookkeeping, and coaching.
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