| Lessons for Stabilizing Your Small Business |
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| Written by Shawna Ruppert | |
| Wednesday, 05 November 2008 | |
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Page 1 of 2 Many small businesses have to resort to laying off employees or cutting benefits during tough economic times; however, there are several ways to stabilize a business to avoid common pitfalls in recession. Depending on the products or services offered, a company should build a firm line. For example, if a company typically keeps Product A in stock but sees a dramatic decrease in sales of this product when tough times hit, Product A should be removed from the inventory. The product or service can always be reestablished when the economy returns to normal. By eliminating fruitless products, a small business can save significant overhead costs. New waysWhile it might seem unwise to spend more money in a poor economy, there are circumstances that simply force a business to find new ways of reaching customers. If a company operates only from a store site and has a website just for informational purposes, a small business should find a means to begin sales online. This allows the company to reach consumers all over the world, which will eventually pay off. Also, by creating a retail outlet on the internet, some products can be solely sold through the website, which can drastically reduce overhead as well. |
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The Importance of Incorporation??Thursday, 03 July 2008 | Joe Doyle Those wanting to start a business or entering into a business venture initially have an important decision to make: “Incorporate or not to incorporate, that is the question?” Those creating or running their own business have four basic structures to operate under. The entity can operate as a sole proprietorship, partnership, LLC or a corporation. These structures will be discussed in a bit more detail below.+ Full Story | The Pros and Cons of a Business PartnershipMonday, 23 June 2008 | Shawna RuppertThere are great benefits to be reaped from starting a business from a partnership rather than a solo perspective, but there are limitations as well. When deciding on whether or not to start a business as a partnership it is important to carefully weigh the pros and cons to see if this is going to be the best option for your company’s success. + Full Story |
| Business Plan TemplateSunday, 15 June 2008 | Sunil TinaniA simple step-by-step template for a DIY business plan. + Full Story | How to Plan a Start-UpSaturday, 14 June 2008 | Sunil Tinani Entrepreneurs are eager beavers – they have a business idea that must take-off immediately, right now, without further delay, asap, and so on – you get the idea! Well, taking off on a start-up without adequate planning is like flying a plane without a pilot – you go from one air pocket into another and keep going until you are left with only air in your pockets, no money, and then you crash land! + Full Story |
| The Home Based Business PlanMonday, 09 June 2008 | Shawna Ruppert Discovering the Home Based Business Plan that is going to work the best for you is the most important step in setting yourself free from our traditional models of employment. + Full Story | Business Networking: Earning a Wealth of ContactsMonday, 09 June 2008 | Shawna Ruppert Business networking is one of the most fundamental needs of any business. The success or failure of any new business can be largely dependent on whether or not they are able to build themselves a network of clients and customers during their startup period. Marketing, creating consumer loyalty and networking are all major factors in ensuring that you have the wealth of contacts that your business will need in order to be truly successful. + Full Story |
| Motivating your teamMonday, 26 May 2008 | Jill Marshall
Every thriving business is held buoyant by a team that works well
together, and the only way a team becomes successful is if they're
motivated to succeed.
+ Full Story | Becoming a business analystMonday, 26 May 2008 | Jill Marshall
Are you a technical buff? Consider
yourself somewhat business-minded? Believe it or not, these qualities
need not be channeled into separate careers.
+ Full Story |
| Efficiency RatiosMonday, 26 May 2008 | Sunil Tinani
Is the company employing its assets
efficiently? Or, are they being underutilized much to the
shareholder's agony? Here is how you can find out:
+ Full Story | Profitability RatiosMonday, 26 May 2008 | Sunil Tinani
These ratios measure how skillful a
company is at generating profits.
+ Full Story |
