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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, if you are in need of loan you will need a professional to do it for you so as to have perfect financial forecast. The financial section is one of the most important parts of a business plan, once you get it wrong it will be difficult for a lender to buy to your offer because investors or lender will like to know how you have a plan to spend the money they will lend you.
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.
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 were 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 $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 $89.99 and the most expensive software cost $1,499. It was interesting to note that the top 3 ranked websites were not the most expensive and cost between $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.
Are you in need of a professional to write a catchy business plan for you? Contact Marcus on Fiverr HERE
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