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3 Essential Tools
for Starting and Maintaining a Small Business |
by:
Ryan Hough |
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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