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What are the best tips for small business success?

Discussion in 'Business Management' started by Desaran, Jun 6, 2018.

  1. Desaran

    Desaran Affiliate affiliate

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    Guys, how to manage your small business finances and keep costs down?
     
    Nanette likes this.
  2. Golden Goose
  3. Graybeard

    Graybeard Well-Known Member affiliate

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    The IRS defines a small business as having less the $10 Million in assets.
    Generally, a small business can have anywhere from $40 Million to $100 Million in revenue.
    The US Department of Labor defines a small business as having less that 500 employees.

    Do you mean a *micro-business?*

    • Use open source software where you can.
    • Budget your anticipated expenditures -- monthly or quarterly -- try to stick to them.
    • Buy templates and other peoples work, even it it is not exclusive, when starting something out -- unless you have development skills or qualified developer partners.
    • Keep ego centered things like fancy stationary or business cards to a minimum.
    • Find a bank that doesn't charge you fees for everything they can.

    Taxes -- If you have revenues;
    • Make full use of the home office deduction -- have a separate room or rooms in you home dedicated to your active business.
    • Learn all the tax laws regarding running a *micro-business*
    • Take advantage of tax sheltered deferred income like various retirement accounts -- if you have employees (not independent contractors) you must offer them the same retirement benefits.
    • Are you incorporated? Even if you are not --seek out advice from an enrolled public accountant or a CPA (Certified Public Accountant).
     
  4. Desaran

    Desaran Affiliate affiliate

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    Thanks a lot, Graybeard
     
  5. AffiliateAF

    AffiliateAF Affiliate affiliate

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    I am also a one man show, when I started working by my own, I wasted a lot of time with several matters, many of them smalls. But after doing many times, we get the rhythm... Good Luck ;)
     
    Nanette likes this.
  6. BerryJ

    BerryJ Affiliate affiliate

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    This theme also interesting for me. thank you
     
  7. annagreenang

    annagreenang Affiliate affiliate

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    Small business success is always lies in two thing Healthy and growing, you can only keep both way by having a line of credit.
     
    Last edited by a moderator: Aug 21, 2018
  8. Nanda Bhat01

    Nanda Bhat01 Affiliate affiliate

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    Wow, Congarts. I appreciate your hardwork. Good luck for your future.
     
    AffiliateAF likes this.
  9. shaquillev

    shaquillev Affiliate affiliate

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    Hi there! I think outsourcing is a really nice and helpful thing for any business these days. I would recommend you to think about it. As for me, I use some software developers overseas, and recommend you to read about why ukrainian developers are good too. I think you will find this article helpful to you :)
     
    Last edited: Aug 28, 2018
    Nanette likes this.
  10. affmarketer101

    affmarketer101 Affiliate affiliate

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    Choose really small niche and work hard.
     
  11. Graybeard

    Graybeard Well-Known Member affiliate

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    That can only work if you can reach-out to that small audience.
    You cannot do that with these mass advertising platforms.
    Neglected customers in a larger market works -- Uber is a good example ;)
     
    affmarketer101 likes this.
  12. Graybeard

    Graybeard Well-Known Member affiliate

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    ^^^Last edited by a moderator: Today at 9:45 AM
    link spam FAIL :D
     
  13. Nanette

    Nanette Affiliate affiliate

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    Lots of Cool advice here
    Don't splurge of course

    Go thru all of Your expenses
    What can You cut out?
    And
    What do You need?
     
  14. affmarketer101

    affmarketer101 Affiliate affiliate

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    Ok, the point is it has to be accessible, right?
     
  15. poliq

    poliq Affiliate affiliate

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    business is business no small and no big. Any type business for successful need good management. Don’t hire worker/employees if you have small business or start-up your business. first of all create good place in market then after you increase your business.
     
  16. Kemeron5

    Kemeron5 Affiliate affiliate

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    For small businesses, the ideal solution would be to create an application of type b2c or use a special service loyalty card app for business, for example this Say2B.com Its essence is that ideas which you offer to the local business and if users support your idea, you get gifts, coins & discounts from the administrator of the institution, which you can spend in different stores.
     
  17. Sharmilarock

    Sharmilarock Affiliate affiliate

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    Choose the really small niche keyword and work hard.
     
  18. Graybeard

    Graybeard Well-Known Member affiliate

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    Not so much accessible as neglected.
    How many Uber customers used to use overpriced old school taxis? How did the app affect their customer pool? Is it just less hassle and not really just the money aspect?
     
  19. Ian_murphy

    Ian_murphy Affiliate affiliate

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    Sounds stupid, but believe in yourself and that you can do it!
     
  20. Kristian321

    Kristian321 Affiliate affiliate

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    Small business it is a really good opportunity to become a good businessman. I am an owner of an online business. My business is connected with translations. I like my job very much. I can work when I want. But there are some features in my work. I do not know my clients personally. This is an inconvenience. There are customers who disappear after receiving a trial version of the work. I check the mail of all my customers on the service https://proofy.io/email-validation-api/ . It is really useful. This helps to weed out scammers.
     
  21. randynguyen

    randynguyen Affiliate affiliate

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    choose a small niche, validate your idea (market demand and product), if people pay for it, let expand your business idea, if not go back to the first or second step, The problem is in these two steps
     
    Last edited: Sep 12, 2018
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