Small businesses often have less of a buffer than their larger counterparts. Therefore, during times of economic uncertainty it is more essential than ever to keep a close eye on the finances of your business.

With good credit control you will always know how much money is due to you and how much money you owe. You need ensure that you keep money rolling in to improve your cashflow and your financial solvency.

Here are 7 success and survival tips for small businesses to help ensure you get paid on time:

1. Invoice on time

This may sound pretty basic but some sole traders and even larger companies are tardy when it comes to submitting their invoices. Sometimes, as strange as though it may seem, sole traders are reluctant to charge for their products or services because of self-esteem issues. You have bills to pay just like everyone else and if you are confident of the quality of your products and or services then it is your duty to charge for them and to do so promptly.

2. State Terms and Conditions Clearly

Ensure that there is no ambiguity regarding the terms and conditions of payment. Clearly state these on your invoice and any subsequent statements.

3. Issue Statements for Unpaid Invoices

Have in place a system for monitoring outstanding invoices and issue a reminder statement as soon as a payment becomes overdue.

4. Verbally Ask for Payment

Use the phone and ask for payment. If you’re uncomfortable about doing this is may be cost-effective to hire someone to do this on your behalf. Follow-up telephone calls with a letter or email so that you have a written record of what was agreed.

5. Keep Accurate Records

Keep a record of all your communications, i.e. letters or emails sent and telephone conversations.

6. Suspend Further Supplies

Until the account has been brought up-to-date suspend further supplies. However, obviously there may be occasions where you do not feel that this is appropriate.

7. Take Legal Action

Of course this is a last resort situation. If, despite all your entreaties, payment is not forthcoming then issue a final letter stating that you will be placing the matter in the hands of a solicitor. In this instance, once you have declared this intention you must follow through.

Hence, it is a good idea to know where you can seek legal advice for your business or hire a solicitor should the need arise well before needing to do so.

Of course, this line of action will have several repercussions not least of which will be additional costs to you so consider this line of attack carefully before taking action.

Bonus Tip: Offer an incentive for early payment. For more expert advice on starting and running a business from a self-made billionaire visit the Billionaire Business System. Discover how you can strengthen your business even during times of uncertainty.

Most of us have been coached at one time or another in our lives. For many of us it took place in grade school and high school. You may have been coached in athletics, dance, drama, debate or some other area. Regardless, coaching is about creating a winning performance strategy and a successful outcome.

Business life coaching and business coaching are no different. Their goal is to help you create your own performance strategy and design the successful outcome you desire. Business life coaching may differ from business coaching in some cases. Ultimately both are about the individual who is being coached. One may have a slightly narrower focus on business outcome but regardless, the success of coaching rests on the individual being coached embracing personal growth to change their thinking.

How do you create that winning performance strategy? Whether you have a small business coach or not there is one essential ingredient that can help you to move to the success you desire more quickly. You must have a finished picture of the future in your mind. Once you do then it will become clear as to what you have to do in the present to have the future you desire.

And, to have the future you desire you must embrace change. Only when you change your thinking will you change your habits. When you change your habits you will change your activity. It only follows when you change your activity you will change your results. And, when you change your results you will change your life.

How do you find the right coach for you? It is a question with no easy answers because there are coaches for virtually any area you can think of. Are you the entrepreneur successful in many ways but wanting to upgrade areas of your life? Are you in a corporation looking for executive business coaching? Do you have a small business running well yet you want more small business growth?

Here’s a specific example that may help. Let’s say that small business growth is your main concern. In this instance, it might be best to find a business life coach or business coach with a small business background along with a strong emphasis on personal growth. Why? In small business the business will grow only to the extent of the personal growth of the owner and key employees. Ultimately, the best coach for most is the one that can help you design pathways to your success. Understanding and good chemistry are essential for a successful coaching experience.

Steve Scott is a business/life coach and business development consultant. He specializes in teaching entrepreneurs and solo and sales professionals to advance to a business and life of greater freedom and abundance.
http://www.stevescottcoaching.com

Maybe you are reading this and have been thinking about owning your own business. Or, you have a small business running either that is doing well or where you wish it could be more. Regardless, to have a successful small business and to have the freedom and abundance you seek, the first step to business success is it must be about you.

You may say, now wait a minute where is this heading? Over 30 years of self-employment and working with hundreds of self-employed individuals I can assure you that most successful small businesses and the ones that experience small business growth have one thing in common. The first step to business success is that they are built around the founder or owner.

At first you may think this is a selfish approach. But, if you look at the original definition of selfishness, it is about self-preservation. I think you would agree that building a business that preserves and enhances you is a huge plus. After all, without you, where is the business?

Now, this doesn’t mean that the business is all about you. It means that you either deliver and exceptional product or service for your customers but with an organization, routine or performance strategy that enhances you. After all, if you are not at your best, where will your business be?

For the entrepreneur successful in his business, the first step is to have something he or she is passionate about. The second step is to be able to build the business around who they are. Let’s take three attributes that all people have to different degrees. They are create, execute and finalize.

Most people are good at one or two of these. Know what you are good at and build your business around your strengths. For example, maybe you are strong at creating and finalizing the process. Yet, the execute part, which is in the middle, is not where you really enjoy spending your time. If you are spending most of your time in this area you and your business will be at peril. In the beginning you will probably have to do all three.

Yet, if you continue to do all three you and your business will not experience the small business growth you desire. Take a look at yourself. If executing is the least enjoyable aspect, either create systems to insure that the execution takes place or have someone help you with it. If it continues to be a challenge you can look at hiring a small business coach or reading a small business book or small business ebook.

To grow small business and to have a successful performance strategy you must be in alignment with who you are. Pursue your passion and build your small business growth plan around your strengths. When you do you will get off the treadmill of deadening uniformity and be moving to the success you desire.

Steve Scott is a business/life coach and business development consultant. He specializes in teaching entrepreneurs and solo and sales professionals to advance to a business and life of greater freedom and abundance.
http://www.stevescottcoaching.com

If you’re an entrepreneur with an established small business, you may be considering the next step for your business. The main question will be whether you continue to trade as a sole trader or do you incorporate your business?

What are the consequences of either decision? Basically if you carry on as a sole trader you will continue to put your own personal assets at risk should your business incur financial difficulties, whereas once incorporated your business becomes a separate legal entity, and as such your personal assets are separated legally from those of the company, and therefore are protected.

So the significant benefit of small business if the personal liability protection incorporation affords the owner. The personal liability protection comes about because the new incorporation is treated in law as a totally separate legal entity. Therefore as the owner you receive protection from the business’s debts and liabilities in the event that the assets of the business fail to cover those liabilities. In effect, as a shareholder of the newly incorporated company, you will be liable only for servicing the debts of the business up to the value of your equity investment.

The second significant benefit of small business incorporation is that it becomes a lot easier to raise additional capital investment following incorporation should you need extra cash to finance the growth of your business. Once incorporated, you’re company will have a formal structure for issuing and valuing shares. This simplifies the process of raising additional capital investment through a share issue considerably.

It also makes it easier to value and sell your equity in the company when you wish to either sell or leave the business.

Should you wish to borrow rather than raise capital, incorporating you business will help as it gives your company more credibility with lending institutions, making future borrowing easier to attain.

There may also be tax advantages to incorporating your small business. Incorporated businesses can enjoy lower taxation rates than partnerships and sole traders. Therefore by manipulating salary and dividend payments, you can effectively pay less tax once incorporated. Additionally, many additional items of expenditure become tax deductible.

The above are some of the key benefits, but what about some of the negatives of incorporation?

Once incorporated, you will have to comply with a lot more statutory and accounting requirements. These additional overheads can be a significant burden and cost to your small business. You will also experience a loss of flexibility in the way that you run the business. For example, you will need to adhere to strict laws that govern your company’s finances, such as you will not be allowed to “borrow” money from the accounts of the business for personal use.

Another downside could be double taxation. Double because your company profits are taxed initially, and then the dividends paid to the shareholders from the “net” profits are also taxed. So whilst the individual shareholder can benefit from paying less personal tax as discussed above, the total tax paid after incorporation can be more.

When considering incorporation for your small business, you should always seek professional advice from a qualified accountant or lawyer.

To read in more detail about the pros and cons of incorporating your business, and to find out more about the actual process of incorporation visit: http://www.incorporate-my-business.com

Any small business needs a plan. Even if it is only a one page piece of paper on the fridge, some form of plan is critical to business success. The business plan purpose is primarily to force small business owners to look at their industry, products, operations, management and finances. From here they can set business goals and objectives.

While the process of analysis is extremely beneficial, the business plan purpose also extends into other areas including using the plan to monitor and grow the business, obtain finance, sell the business and even motivate employees.

Purpose 1: Critical Analysis

Simply undertaking the planning process itself forces you to critically analyse all aspects of the business. You may already think you do this regularly (although not formally with pen and paper), but do you truly cover all facets of your business?

Do you continually look to your customers, competitors and industry for new trends, ideas and opportunities?

Are you on top of your finances and cash flow position?

Have you set goals and objectives and put in place the planning for your business for the next 6 months? 12 months? 3 years?

Do you know what marketing is working for your business and have forward planning in place for advertising, promotion and web marketing?

If you answered NO to any of these questions, it’s time to implement or revise your business plan. All of these questions, plus many more should be answered in the plan.

Even if you are a solo, home-based business, you need to critically analyse your business and have a plan. Like anything, if you don’t have a map, you won’t get to your destination.

Purpose 2: Monitor, Maintain and Develop Business

So now that you have your small business plan in place, it needs to be reviewed regularly. Another key business plan purpose is to provide a tool to help monitor, maintain and grow your business.

Set business objectives, put plans in place, monitor results and make adjustments as necessary. Taking the time to regularly spend on your plan and revising it will go a long way to ensuring your business growth and success.

Purpose 3: Funding and Investment

Many small businesses require bank funding or seek investment. In this situation, the business plan purpose is to act as a financing proposal.

Just by having a plan will put you in front of many other small business owners and certainly be viewed favourably by lenders and investors. In fact, some will not even give you a second glance without this information.

Purpose 4: Business Sale

Although it may seem pointless if you have reached this stage in your business, a well written business plan will help not only sell your business, but could result in a higher price. It will indicate to prospective purchasers that the business is well planned and give some security that a road map is in place for the future.

Purpose 5: Employee Morale

Another underestimated business plan purpose is to use the plan to keep employees informed about the business. While some business owners may cringe at this thought, it is a great way to get staff involved in the business, encourage feedback and help implement the plan.

It is not necessary to give the full plan if you don’t want to include sensitive information such as financials. Whatever format you present it in, staff will gain an instant sense of ownership and involvement that could prove very valuable.

Samantha Lewers is the founder of Small Business Champions Club, a fast way to read, listen and learn from the world’s most successful people. Visit href=”http://www.smallbusinesschampionsclub.com/articles”>Small Business Champions Clubto claim 5 free gifts valued at $147.

Do you want to start a business dealing in alternative power? The smart entrepreneurs are flocking to solar. How does one get involved in this growing industry? To get into or start a solar business, first you have to understand how the solar industry works.

There are solar businesses that rely on large commercial clients and big purchases to pay the bills. Others rent solar equipment to smaller businesses or homeowners directly. Fortunately, when it comes to solar, how to produce and store the energy is already established. That allows you to focus more on selling the technology than on fixing or developing technological solutions.

You don’t have to be a veteran technician, expert salesperson or crafty entrepreneur to run a successful solar business. You just need to plan ahead, proceed carefully and take advantage of a growth industry.

When starting out your own solar business, you might want to become a kind of Jack-of-all-trades. In the beginning, you may not be able to afford a staff. You may need to take care of marketing, sales and business management yourself. As you get more involved in solar, how you do business will change. You’ll be able to slowly hire staff to help you with business tasks.

There are two primary advantages to this approach:

1. You will be familiar with all aspects of your own business from top to bottom. This will make you a better manager when you do have people to manage.

2. This will save on startup costs and allow you to use your time instead of money to build and grow the business.

You could also get loans or other external funding and hire a team from the start. However, this approach carries a greater risk. It should only be done if you are experienced in business and know how to make your business successful.

You don’t need to know every detail of how solar power and technology work to run a solar business. However, it’s important to be familiar and comfortable with what you are selling to others. Here are some ways in which you can become more familiar with solar technology and the solar industry in general:

1. Some colleges have already begun offering courses and degrees in solar installation and solar business management. Taking these on the side while you build your business (or before you launch it) might be a good idea.

2. You might also wish to consider the merits of an apprenticeship. Working for someone else with a solar business can help you see how the business works from the inside. You can also see what doesn’t work. This information will help you when you strike out on your own.

3. Depending on where you live and work, you might need a special license to run your own solar business. Be sure to check with local sources to see if such a license is required in your area.

As someone starting a solar business, you might find there are more resources than you realized to help you on your way. There are free tools available to help you start a solar business. There are many solar how-to books, websites and brochures out there. There are also organizations that can provide loans and other financial assistance to developing businesses related to alternative energy.

So once you have the necessary education or training, tools, resources and funding what is next? Once you know about solar, how to make a business out of it should be your next focus. Will you cater to small clients or large, private or commercial? Will you rent, lease or sell equipment? Will you also install the equipment or contract out that work? These may change with time, but it is important to understand how solar businesses operate. Keep your knowledge fresh so that when opportunities for new directions come your way you can seize them quickly.

Step by step video tutorials for your next solar project. Convert your business toSolar power . solar powered building will save your business money at http://www.websolarsearch.com

Many of the object and documents we view are put together with the help of desktop publishers. Desktop publishers, who are also referred to as DTP operators, publishing specialists and electronic publishing specialists, format and combine text, photographs, numerical data, charts and other visual graphic elements, in order to create publication-ready material.

Job Description

Desktop publishing projects include: calendars, books, business cards, newsletters, magazines, slides, packaging, tickets, bumper stickers, letterheads, envelops, logos, posters, name tags and websites. There are very few items these days that desktop publishers dont play a role in when it comes to the creation process. Because of this, employment of desktop publishers is projected to increase.

Desktop publishers are taking over traditional methods of presswork using their computers and software. This allows companies to minimize expenses and improve production rates. It is predicted that a great amount of new positions will be created for desktop publishers in the computer printing and publishing firms.

The jobs for desktop publishers are found mainly in the printing and publishing industries, however, some work in house at various firms, educational industries and government agencies. The increase of computer development has made it simpler for one person to set up this business as a freelance professional.

Employers favor workers who have experience in desktop publishing. Although many companies provide on the job training, how much you receive varies with each company. Employers also look for the following requirements and qualities:

-Knowledge in advanced PC or Macintosh computer skills
-Basic to advanced prepress skills
-Understanding printing technology
-Understand the fundamentals of electronics and computers
-Good communication skills
-Hard working
-Courteous
-Strong Attention to detail
-Able to work alone
-Good vision, especially visual acuity
-The ability to focus quickly
-Artistic ability
-Able to work under pressure and flexible

Making yourself employable

Although it is not necessary to hold a degree, it is an advantage. Competition is still fairly low, but as more experience desktop publishers emerge on the scene, the fight to obtain these positions will be more competitive. In order to be among the top earner in this profession you will want to consider getting an associates degree in applied science or bachelors degree in graphic design, graphic arts, or graphic communications. Graphic arts programs allow you to learn how to use desktop publishing software but applying such knowledge is typically for someone who is seeking employment in management positions. For those who are looking to become skilled employees in desk top publishing areas you will want to consider a two year associates degree.

Much of knowledge required to become qualified for desktop publishing positions can be obtained through universities, vocational schools, collages or the web. To increase your desirability you should seek out jobs that take advantage of your existing desktop publishing skills. As well, focus on niche markets or specialized desktop publishing projects to grow your new or current home business.

Earnings

Wages and salaries vary for each company. As mentioned above those with more training and experience are likely to earn more. The average annual earnings for desktop publishers in 2007, is 33,000. Self employed desktop publishers can earn anywhere from $1,000-$70,000. Keep in mind that you only make as much as the jobs you are hired to do.

The Moms Work at Home Directory is dedicated to finding the best resources, jobs, and opportunities for Moms Working at Homescam free in the 21st Century.

What if you learned the secret recipe that pulls cash out of the web?

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The purpose of this article is to show you the exact steps required to setup a cash pulling internet business.

Here are 5 simple steps to get you started pulling in massive internet cash step by step…

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Step 2 - What’s Your Strategy?

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Step 4 - Test Wildly.

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Determine how you will target your niche.

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Once you have done your research, make sure that you go about getting things into place…

You have to grab a domain name, hosting account, autoresponder system, order processing system, ad tracking system, etc to get started with your ebiz.

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Make sure that you test everything right from your traffic till the end point of your sales funnel.

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In a recent survey by the United States Federation of Small Business (USFSB) and DYMO, they found that many small businesses are making cuts to stay afloat while their businesses feel the crunch of the tight economy. No surprise there, right? Here is a breakdown of where small businesses are making those cuts:

23% of respondents have cut their staff
36% of respondents have decreased their business travel
36% of respondents have minimized their marketing efforts
29% of respondents have put a freeze on bonuses and raises

While at the same time many small businesses, 45%, are looking for ways to increase productivity. If you are going to cut staff, it makes sense that you will have to figure out a way to make the staff that you have left more productive to pick up the slack. Many small businesses are looking to technology to help them become more efficient and productive.

What is important to remember when looking for technologies to help you be more productive, is to not over-buy on tech products that won’t deliver what you need. There are so many gadgets out there that promise to make your business better, more efficient and more productive. However, if they don’t fit your needs, it will do absolutely nothing for your business. Here are 4 places to look when deciding whether utilizing different technologies may be right for your business.

1. Data Storage. Some small businesses may find that their employees spend too much time searching for reports, forms or other data that they need. If this is the case, an investment in network hardware and/or software would allow employees to pull any information they need directly from the network.

2. Communications. Other business owners may find that their mobile employees could work more efficiently if they had Push To Talk technology enabled on their cell phones. Or that they could benefit from a virtual phone system that would route their calls to them on their cell phones when they are out of the office handling other tasks.

3. Overhead of Real Estate. Some small businesses may realize that their employees really don’t need to be in an office setting to get their work done. Sending their employees home to telework or telecommute will require certain technologies to make that happen. For one they would need a network where employees could have access to data. Secondly, their communications system would need to be revamped. Advances in telecommunications make this relatively easy to do. They could use a hosted or virtual pbx that would allow all the calls that come into the business to be routed to the appropriate employee or department. As well, these solutions usually still allow employees to transfer calls to other extensions, have voicemail, utilize an auto attendant to direct calls, and many other features that are similar to the standard phone systems that they are used to.

4. Customer Relationship Management. Many businesses already use software like Salesforce, Act or Goldmine to keep track of clients and leads. If your business is one that needs to communicate frequently with your customers or keep track of leads that you are working on, CRM software is definitely worth the investment. This technology will enable you to save time and money by not going over ground that has already been covered, keep better track of leads and money making opportunities, as well as keep in contact with your current clients through automated processes such as email drip campaigns. All of these things will increase efficiency in your customer relations which in turns increases productivity.

Technology can allow a small business to increase their productivity by organizing data, by expanding their communications, allowing employees to work from home, and streamlining their customer relations. However, it is important to take a hard look at your business to figure out what technology is going to really help you instead of just buying the newest tech gadgets to hit the market.

Brandi Cummings is an expert author on the unique issues facing small and home based businesses. To explore using a virtual PBX to increase your productivity she recommends Freedom800.com a leading provider of virtual PBX solutions.

Santa Cruz real estate is hot, and if you are interested in investing in property in this market, you may not have the luxury of time when a good property hits the market. Unless you know how to spot good investments and purchase them quickly, you will always lose potential properties to your competition.

Location Is Key

Whether you are going to rent or resell the property, you need one in a good location. For residential property, choose a property near good schools, popular attractions, or shopping and dining options. If you plan to rent your investment to vacationers, you will need a property that is close to the beach. If you plan to invest in commercial real estate, choose property that is near main streets or is highly visible to the public. Property that is tucked away out of site is going to be difficult to lease, because businesses want visibility.

Consider the Condition

Before you walk away from a run down house that has been on the market for several months, take a closer look at the condition. Are there any structural flaws, or is most of the damage cosmetic and superficial? Broken windows, a weathered roof, and outdated carpet can all be fixed if the price of the home is low enough. This type of fixer-upper can make a great real estate investment, provided you have the funds available to make the necessary changes. Other investors may pass over this property because of the poor curb appeal, but a little bit of money and elbow grease can make the home attractive again for resale or rental.

Choose an Appealing Property

When you are investing, do not buy the “unique” house in the neighborhood. You may find it difficult to find tenants or a buyer for the property when you are done fixing and updating it. Choose a home that will appeal to the average vacationer or family, and leave the unique properties to buyers with eclectic taste.

The View Counts

Santa Cruz offers many breathtaking views, and a home with a view is a big selling point to both renters and buyers. If a home looks to be a solid investment and also has a great view, take it! However, do not buy a property just for its view. If the discounts are not enough to make it a good investment, let someone else have it and keep looking.

Good Potential for Resale

Even if you are planning to lease the property after you buy it, make sure there is a good potential for resale before making the purchase. If your situation should change and renting out the property is no longer part of your investment plan, you will need a way out. Research sales of similar homes in the area to see if there is a market for the home you are considering. If there is, it is a good investment property. If not, look for a similar property in another area. By taking the time to learn these tips, you will be able to find potentially profitable properties, make a move, and seal the deal before your competition.

Seb Frey is a Capitola, California Real Estate Broker specializing in Santa Cruz Real Estate. He is fluent in Spanish and enjoys helping people find their piece of the American Dream in Santa Cruz. You can find Seb’s blog at SantaCruzHomeBroker.com/blog.