We believe that there are 3 factors that drive the success of small businesses.
1) Acquiring start-up capital
2) Finding customers
3) Accounting for, budgeting and controlling sales and expenses
The following resources will help your small company achieve these success factors.
Acquiring Start-Up Capital
An adequate supply of capital is essential as many profitable businesses fail because they don’t have enough cash to pay their employees and suppliers. But what is an adequate supply of capital? The only way to tell is by doing a significant amount of research on your potential market and formally documenting this in a company plan. I’m sure you know that a company plan is a very important document that is crucial to convincing your banker to lend you money.
There are two ways to obtain a company plan.
1) Do it yourself by amending a company plan template, or
2) Hire a professional to do it for you.
Obviously obtain 1) will be a great deal cheaper.
Our research led to a website that has over 60 high quality and free company plan templates. We also found a directory that you can use to easily find a company plan writer in your city – where ever you live in the world.
Finding customers is a difficult and expensive task for service company owners such as accountants, lawyers and plumbers. We believe that a cost effective marketing strategy for service company owners is to simply give all their personal contacts a few company cards.
Our research led to a few websites that have pre-designed company card templates. We felt that the diversity and quality of these designs was outstanding. In addition, we found that you can obtain a significant saving by finding a printing service on the Internet. We found that you could get 2,000 full color company cards for as little as US $250.
Accounting For, Budgeting and Controlling Revenue and Expenses
Accurate accounting is very important for small company owners. It’s essential that you have timely access to facts that could make or break your company. If stocks are running low – you need to know about it. If a large proportion of your debtors haven’t paid – you need to know about it. If you do not react to these situations quickly you may have a situation where you don’t have enough money to pay your employees – or worse still someone is stealing cash out the till.
Our research led to a website that compares and reviews top accounting software for small businesses. The cheapest software cost US $125 and the most expensive software cost US $1,500 or more. It was interesting to note that the top 3 ranked websites were not the most expensive and cost between US $350 – US $500.
Hopefully you now have an idea of some of the tools that you can use to grow and maintain your small company. If you would like to benefit from our research please visit our website. We do not charge for this research and offer the content freely on our website.