Small businesses are a common target of data theft and hacking as they are repositories of valuable data both in the form of business credit accounts and repositories of customer information. Many businesses on the smaller side of the spectrum of SMBs figure that they are not on the radar map of cyber criminals because of their size, when in reality it is this exact mentality that makes them one of the preferred victims of data theft. Major data breaches on the part of large businesses, such as the hack of retailer Target which exposed thousands of customer’s information, should serve as a warning to small business owners that the effects of digital crime can be tough to bear even for major corporations. Businesses should invest in additional security as they processes more sales, but even with an improved infrastructure, they must implement regular maintenance in order for their security to perform at the highest possible level. Change passwords. An account is only as well guarded as

Getting cash flows flowing faster is always a good move for small businesses, but in the case of a business that has to deal with bad credit issues, it can have a much more profound impact, potentially defining the difference between growth and failure. In any bad credit business, extra attention needs to be paid to standard accounting processes and wasteful costs need to be eliminated. Apart from techniques for keeping operational costs down and effectively keeping track of the money going in and out of a business, the best way to ensure that businesses are able to collect on their invoices is to endeavor to make it easier for clients to make payments. Consider a broader range of payment options. Adding payment options can help businesses make more sales and collect on invoices more effectively provided that the infrastructure is in place within the business to accept them. While some businesses are willing to accept anything from cash to crypto-currencies such as bitcoins, others could benefit

Cost management is an essential part of running a small business, and having money on hand with which to make strategic decisions and act on opportunities as they present themselves is another important consideration for business owners, since without any liquid capital they may find themselves flush with assets but lacking an ability to quickly act. Reducing costs without reducing customer service can be tricky, but it is manageable provided adequate thought goes in to tapering off spending. What is the value contributed by programs that you are considering tapering off? This question may seem like it is simple to answer, but in reality, you may want to ask your employees how they are effected by the use of certain programs before you cut them off. The reason why is that they may have come to rely on a certain service that is showing up in your accounting numbers that you are not personally involved with. If you don’t know what something is that you are

If you’re looking to expand your small business, you may be turning towards investors to help you fund this great endeavor.  In order for a private investor to consider your small business, you have to convince him or her that there is a reason for them to invest in you.  You mush demonstrate that your business is fiscally sound, has potential to grow, and that it will only benefit the investor to become a part of this great opportunity.  However, in order to get investors to loosen the purse strings, you will have to be willing to subject yourself to increased scrutiny and to give up some control of your business.  Investors are not giving out free money – they will have a say in your business’ philosophy and actions.  Of course you will also have to hand over a percentage of your company and its earnings to the investors as well. In order to get investors on board with funding your small business expansion,

With the NFIB reporting small business optimism levels at their highest since September 2007, the news that businesses are becoming more confident seems like it is worthy of serious celebration. However, there is a large disconnect between the reality on the ground for many business owners and the positive gains in optimism that have been reported. According to  the report, while “soft indicators” of optimism went up which include expectations of future performance, there were no significant gains in hiring and other indicators that traditionally signal the small business sector’s contribution to a growing and improving economy. Until small business owners are able to put their confidence into action, the recovery will continue to move at a slow clip. Business owners are reticent to hire, which would mean taking on more costs for their businesses without a guarantee that they will be able to recoup their costs. In addition, recent regulations have many business owners worried that they will not even be able to sustain the

Paying for more reach on social networks is something that certain networks are moving closer towards turning into a general rule as opposed to the exception. But is paid engagement a good investment for business owners, or should they be pursuing other forms of marketing and skipping out on networks that force them to allocate their limited resources to getting content seen? The real answer is dependent on the business, of course, but with many social networks growing quickly, and the concerns that a bad credit business has in particular regarding their financing making it essential to only spend on worthwhile programs, it can be tough to justify the costs of paid reach. What are some of the benefits of paid reach? For one thing, most paid reach on social media can be finely targeted, so in the hands of a well informed marketer it becomes a good way to put a specific message in front of a target demographic already in the process of reading

For business owners who have bad credit, the task of raising cash flows, planning and allocating financing and getting capital in order to grow can be made a lot more difficult. Figuring out how to grow business while conserving capital takes time, thought and energy, but at the same time business owners have a responsibility to themselves to work on improving their credit score. In order to create a passive framework that allows them to move closer to financial stability, adopting positive habits is something that business owners should work on and make time for in their schedules. When taking bad credit business financing products, have a plan. A big mistake for business owners is taking on obligation without a plan on how to create positive ROI. Often times, bad credit can come from financing business expenses with credit cards or business loans without a backing of sufficient market research or cost analysis, teaching a painful, but ultimately valuable lesson. In business, arbitrary use of financing will

The financing of a small business is a delicate thing, and naturally some areas of a business will require a larger share of it than others. The trick to balancing a budget is figuring out what parts of the business need more funding, and which can continue to function with less. In the interest of advancing the latter, business owners will often turn to DIY, or do it yourself on projects. In an of itself, DIY recommends itself to the purposes of small business owners quite well. They often have a wealth of experience in diverse areas that can allow them to tackle projects independently. However, there are some aspects of running a business that, if they are mismanaged, can create serious problems for business owners. In the interest of managing their budgets, here are some ways that small business owners can effectively identify areas where they can cut costs with DIY, and where they should probably invest in hiring a pro. A note of

Small business owners with bad credit have financing challenges which make it more important that they pay attention to their cash flows. The dearth of traditional small business loans for bad credit applicants means that for financing they will often have to seek out a working relationship with an alternative capital provider, where bank activity is more important than credit when underwriting. Additionally, the marketing budget of their company has to be tightly managed in order to ensure that it is able to create ROI, since every dollar that goes out the door needs to be made back with little room for error. In order to make sure that they are not losing money, small business owners should strive to create good habits for themselves and be cognizant of the effects of their budgeting choices. Choosing to invest in one area on a limited budget means that you may have to divert resources from another, making identifying the strongest performing areas of your business into

One of the most common areas where businesses lose money is through mismanaged marketing spending. There are a few pitfalls that can quickly siphon away a business’s budget while looking for customers, and should they not be able to find the business that can bring them ROI, the money they spent on marketing will have essentially bought them nothing. There is generally speaking no way to recoup the costs of non-productive marketing expenses, while with the purchase of a piece of equipment that you wind up not needing, for example, you can still resell it and even though you will most likely take a loss it won’t be nearly as bad as coming up with nothing for nothing. Avoid empty marketing spend through targeting efficiently. Targeting your marketing in order to actually reach interested clients is an important thing for you to do. To use a visual metaphor, you can think of a conversion as the bull’s eye that you are aiming for, and the rings

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