Welcome to the SCORE Small Business Success Blog, where small business experts and mentors share tips, discuss trends, and provide advice on a wide range of topics affecting entrepreneurs in every industry.
Here are a few things entrepreneurs can do to build strong relationships with angel investors and increase their chances of getting follow-on funding - regular email updates, demonstrate momentum, and teach them something
The Business Model Canvas is one of the most valuable business planning tools available to small business owners. By creating your own canvas you’ll refine you strategy, alleviate risks, fill planning gaps, and strengthen your business plan.
When you start off as a team of one, handling every job to keep your business moving on your own is tough. Most owners dream of the day they can afford to bring on another set of arms and legs.
Hiring an employee is also a big step towards scaling your business and planning for growth. But, when you make the shift from a solopreneur to an employer, the game changes. Suddenly, owners find themselves delegating the day-to-day tasks of running their business in exchange for the internal tasks of managing the business. In the case of hiring, one of those tasks is payroll.
After setting financial goals and a budget for your small business, it's crucial to monitor how well your company is performing. Is it on track to achieving its revenue and profitability goals? Is it controlling its costs?
Even if you’ve contracted the help of an accountant, it’s helpful to develop your understanding of your business’s financial affairs. One way to accomplish that is to become familiar with and regularly review the following reports.
● Profit and Loss Statement
● Balance Sheet
● Cash Flow Statement
When you’ve made the transition from someone else’s employee to being your own boss, you gain the autonomy to create your own professional path. You get additional responsibilities, as well—including paying self-employment tax.
Self-employed individuals are required to not only directly submit the income tax they owe to the federal, state, and local governments, they must also remit self-employment tax to the IRS.
Google Analytics is one of the most important tools for measuring the effectiveness of your marketing. Even non-tech savvy business owners should be using Google Analytics to make better marketing decisions. Here’s how.
Finding the right accountant for your small business is an important decision that deserves careful consideration. Here’s how to find an experienced, qualified accountant who understands your business.
Creating a new website for your business is a big undertaking. It can take months to design, code, write and launch a professional site. And, that’s not to mention the maintenance of your website once it’s launched and the ongoing SEO, or search engine optimization, that must be in play to make your website discoverable online.
Making time to manage your business’ financials can be hard for many small business owners. But, there are three financial documents you can’t ignore: the balance sheet, the P&L and the cash flow statement.
Three Things Small Business Owners Should Understand Before Hiring a Search Engine Optimization Expert
A website is a critical sales and marketing tool for just about every business. It’s a hub for product information, a conversion point for capturing leads, the holding place for marketing materials and company news, and many times serves as your potential customer’s first impression of your business.
Thorough recordkeeping is a critical part of running a successful business. Here is a list of the essential records all smallbusiness owners should maintain and some of the best tools out there to store your records andstay organized.