Invoice Factoring is an attractive funding option for small business owners. However, as is often the case with financing, it’s a good idea to understand a few key terms to get a clear picture of the process. Invoice Factoring consists in selling your invoices to another company that takes care of the collection process and…
Invoice Factoring is a smart funding strategy that many small business owners are using to face the challenges of today’s business landscape and run their organizations more smoothly. While Factoring can be a game changer for many businesses, owners sometimes hesitate to consider it as an option because they don’t have the right information at…
Few things affect the cash flow of a small business as much as slow-paying clients. Besides, dealing with this type of situation is stressful and time-consuming, resulting in even more resources drained from your business. Use the following strategies to prevent delays in payments, or to handle them more efficiently when they occur. Offer Discounts…
Time management is essential for every business owner. Accomplishing more in a shorter period of time allows you to take advantage of more revenue opportunities, which has a direct impact on your bottom line. Prioritize Three Tasks Every Day Choose every day the three most important things you must absolutely get done and focus on…
Running a small business is rewarding, but it can also be very challenging. Do these three simple things to prepare for change, improve your current situation, and make sure to keep your small business running smoothly no matter what. Monitor Trends Make a conscious effort to stay current on changes in your industry. The pace…
Some states are taking steps to reactivate their economies, allowing many businesses to resume activities. If you are among the small business owners getting ready for reopening, consider the following four aspects to make sure the process is as straightforward as possible. Your Staff If you had to lay off or furlough employees, determine the…
Delegation is an essential skill that some small business owners may find hard to master. If you’ve built your business up from scratch you may be used to doing most of the work. But you’ll reach a point where delegating becomes necessary in order to increase your impact and maintain a reasonable work-life balance. From…
Under the current, unprecedented circumstances being efficient is more important than ever for small businesses. Being efficient means getting more done in less time. Time is money: If you have more time, you can do more business, increasing your revenue. The following four strategies are simple changes you can make today to make your small…
